This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oil Market Update (January 22, 2013)

Saskatchewan Premier Brad Wall and 10 US governors sent a joint letter to President Barack Obama urging him to approve the Keystone XL Pipeline project.

In the letter, sent to the president on the eve of his inauguration, the premier and governors note that the pipeline is "fundamentally important to the future economic prosperity of both the United States and Canada."

"We need greater pipeline capacity to move the oil - Canadian and American - that is vital to our shared goal of North American energy security," said Wall in a press release.

The president is expected to rule on a revised application by TransCanada (TSX:TRP,NYSE:TRP) in the first quarter of 2013.

A report from Israeli news agency Haaretz states that Israel has made a deal with South Sudan to purchase oil.

South Sudan's petroleum and mining minister, Dhieu Dau, announced the deal last week after returning from Israel, where he met with government officials.

Reports have not yet outlined which, if any, Israeli companies may be involved in developing oil projects, and there has not been any indication of how oil will be transported to Israel. South Sudan is landlocked, with the majority of oil exports going through a pipeline at Port Sudan. It is not clear if Sudan will allow tankers bound for Israel to dock at the port.

Oil Market Update (January 22, 2013) from Oil Investing News

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs