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Stock impact report

ELAM: Oil price advances on Russian freeze [Yahoo! Finance]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
This means there are penalties for any third country buying oil from the Russian producers. The success of this strategy will depend on three things: * the success of their enforcement; * the reaction of India and China, both big buyers of Russian oil; * whether Putin can walk around the sanctions as he has so far. Last week we observed that oil prices were at a crossroads. Price had fallen below $60. It appeared headed to $55. Then the sanctions were announced. West Texas Intermediate shot up, now trading at $62.18. This news has spilled into Wall Street. Bell weather Apache (APA) jumped $2. ConocoPhillips (COP) jumped from $87 to $90. Halliburton (HAL) soared from $22.50 to $27.22. Transocean (RIG) moved from $3.30 to $3.90. Refiner Valero (VLO) rose 7% Thursday. The expectation will be for much higher oil prices in the next year. The stock market has risen above 47,000 once again. This suggests higher index prices ahead. Corporate earnings are encouraging buying sto Show less Read more
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