Fears of spreading Middle East unrest - particularly around the major transit chokepoint that is...


Fears of spreading Middle East unrest - particularly around the major transit chokepoint that is the Suez Canal - are pushing crude oil futures, now +4.1% to $89.28. Airlines are down in kind, losing more than 4% as a group. AMR -4.2%, DAL -4.1%, LCC -8.1%, JBLU -8.1%, LUV -3.8%.

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Comments (4)
  • buybuybear
    , contributor
    Comments (389) | Send Message
     
    Can someone buy this dip please? My UPRO has been going so well all week... we need to end the week in the plus or I might think we're not in a recovery :-)
    28 Jan 2011, 01:29 PM Reply Like
  • alpharox
    , contributor
    Comments (380) | Send Message
     
    Odd that small caps are getting hit harder than the S & P 500 here, it seems the big caps would be more exposed.
    28 Jan 2011, 01:43 PM Reply Like
  • SteveK
    , contributor
    Comments (64) | Send Message
     
    The speculators are grabbing for dear life on this type of speculation to bounce oil off its recent low. With global economics being what they are there is no reason for $90+ oil ... more like $80-85. Can we get some sanity back into this marketplace?
    28 Jan 2011, 04:21 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3130) | Send Message
     
    I managed to increase positions in Ship Finance International (SFL), General Maritime (GMR), and Torm (TRMD) overnight prior to all the turmoil. While I like all these companies, I would be surprised if the pop today holds, unless the Suez Canal shuts down. Tanker rates have already started to rise slightly.

     

    www.riverlake.ch/reti....

     

    It will be interesting to see what the Saturday shipping reports show. Unrest in the Middle East and North Africa could also affect cargo shipping companies, though I would expect less change due to the ongoing oversupply of ships.

     

    Disclosure: also long Frontline (FRO) and Golar LNG (GLNG)
    28 Jan 2011, 05:21 PM Reply Like
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