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Oil Prices Defy Correction

“Oil prices have barely budged based on the Saudi Summit. There has been no summer sell-off, and I’d be surprised to see a significant pullback as the summer driving season kicks into gear.” — Byron King by Byron King Baltimore — (TFN): The returns are coming in from the distant precincts of the oil patch, and the [...]

Gas could fall to $2 on Congress action

The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday. Baltimore — (TFN): Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price [...]

Rio Tinto (RTP) and China Send Iron Ore Prices Up 96% in One Week

“Anyone who thinks China’s insatiable hunger for metals is going to subside any time soon need think again. On Monday it was announced that Chinese steelmakers have agreed to a new contract with Rio Tinto (RTP:NYSE) for the price of iron ore, which saw a 96.5% rise on last year.” — Dominic [...]

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