| The KUIK Market Update for Monday, February 16: | |||||||
| Markets are closed in honor of President’s Day. | |||||||
| March crude is up 0.7%, to $53.16 a barrel in Globex electronic trading. Oil ended higher last week, with Nymex gaining 2.1% and Brent gaining 4.8% on strong economic data from Europe. Prices have posted weekly gains for the past three weeks. Oil prices on are also supported today on news of an explosion at Libya’s largest oil field. An explosion disabled the pipeline from Sarir, Libya’s highest-producing field at about 200,000 barrels a day, according to a spokesman for Libya’s state-owned National Oil Co. Sentiment is also supported by latest Baker Hughes data showing that the number of drilling rigs deployed in the U.S. fell for the 10th week in a row, reaching a three-year low of 1,056. | |||||||
| The Federal Aviation Administration has proposed new rules for commercial drones. The new policy would replace the current near-ban on flying drones for commercial purposes with a simple approval process for operators governing commercial flight of any drone up to 55 pounds. Operators would only have to pass a written exam on FAA rules to obtain a certificate for flying, and comply with safety requirements.Safety requirements would limit commercial drone flights to below 500 feet, during daytime hours, and within sight of the operator. The rule would also ban flying commercial drones near airports or over people not involved in the drone’s flight. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/oil-trades-atop-52-a-barrel-as-some-bet-prices-have-bottomed-out-2015-02-16 | |||||||
| http://www.marketwatch.com/story/faa-proposes-rules-for-commercial-drone-flights-2015-02-16 | |||||||
| For today’s Market Update Report click to listen-> | |||||||