Title : April 22, 2019 -- The Big Story Today -- Trump Finally Says "No"
link : April 22, 2019 -- The Big Story Today -- Trump Finally Says "No"
April 22, 2019 -- The Big Story Today -- Trump Finally Says "No"
The big oil story today: Trump has finally said, "no." No more Iran sanction waivers. Countries seeking those waivers a year ago said they needed more time to find alternate sources to their Iran oil. I would assume Trump, as I do, feels a year is long enough for India, et al, to get their alternate sources in play.California: largest provider of oil for California? Saudi Arabia. WTI sells for $65. OPEC basket (Saudi Arabia?) is trading for $70.81 this morning, up 1% overnight; up about 70 cents/bbl. By the end of the week, one should expect another 25 cent increase on price of gasoline in California. And, then, of course, down the road, an increase in the federal excise tax on gasoline at the pump, a most regressive tax.
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Early market / pre-market trading:
- Dow: down about 60 points
- majors should be doing well
-
- CVX: up 0.5%; not as much as one might expect;
- COP: a bit better than CVX, up 1.2%;
- XOM: up 0.83%;
- RDS-B: up 0.4%;
- OXY: up almost 1%
- the minors?
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- Anadarko: up 1.2%
- Apache: up over 2%
- NOG: up slightly; up 0.4%
- JAG: n/d
Thus Article April 22, 2019 -- The Big Story Today -- Trump Finally Says "No"
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