Coffee Sipping Big Board Stocks

[timhyma]

The surplus of supply over demand at the start of the year is "even greater" than initially expected, the International Energy Agency said in its latest monthly report. "With the market already awash in oil, it is very hard to see how oil prices can rise significantly in the short term." Supply may exceed consumption by an average of 1.75M bpd in the first half of 2016, compared with an estimate of 1.5M last month, and the excess could swell if OPEC members bolster production.

Energy news: Responding to an earlier report that has cut the share price in half, Chesapeake Energy (NYSE:CHK) declared it "has no plans to pursue bankruptcy," but is looking at its restructuring options "to maximize value for all shareholders." Meanwhile, Cheniere Energy (NYSEMKT:LNG) is closing its newly formed crude oil trading desk, just two months after the company's board ousted CEO Charif Souki and increased its focus on core businesses.