- Oil fell below $93 after manufacturing data disappointed. Later today we’ll get the oil stocks report from the American Petroleum Institute and tomorrow the DOE will release its market benchmark report. Don’t know if we’ll see too much of an irrational reaction, but if oil dips into the $85 to $87 range, we’re buying.
- In an effort to ease tensions between the EU and China, the European Union has agreed to lower tariffs on the nearly $30 billion worth of solar panels China exports to Europe every year. This should offer solar investors a bit more security today, particularly those with heavy exposure to Chinese solar manufacturers such as Trina Solar (NYSE:TSL), Canadian Solar (NASDAQ:CSIQ), JA Solar (NASDAQ:JASO) and Yingli (NYSE:YGE). Most solar stocks are up in pre-market.
- Statoil (NYSE:STO) has announced that its Volve fields holds as much as an additional 9.4 million barrels. This is nearly double what was initially estimated. Not sure if this will do much for the stock today, but certainly offers some good news for Statoil, not to mention Exxon (NYSE:XOM), which owns 30% of the license there.
- A new report is warning that a labor shortage could slow efforts to decommission the Fukushima Dai-Ichi nuclear power plant. As a result, Japan may not be so quick to restart its nuclear industry. You can check out all the specifics here.
