|Day's range||52.20 - 52.20|
(Bloomberg) -- Traders are seeking buyers for piles of unused coal before it becomes worthless after the fuel was hoarded to save Europe’s economy from running out of power last year.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthDebt-Limit Deal Wins House Passage, Easing US Default ConcernsS&P 500 Almost Wipes Out Its Monthly Advance: Markets WrapHedge Funds Are Deploying ChatGPT to Handle All the Grunt WorkElon Musk Again World’s Richest Person as Arnault’s LV
(Bloomberg) -- OPEC+ will be grappling with a divided oil market when it meets this weekend.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthDebt-Limit Deal Wins House Passage, Easing US Default ConcernsS&P 500 Almost Wipes Out Its Monthly Advance: Markets WrapHedge Funds Are Deploying ChatGPT to Handle All the Grunt WorkElon Musk Again World’s Richest Person as Arnault’s LVMH SinksOn one side, global oil inventories are shrinking as the alliance’s latest producti
(Bloomberg) -- Falling coal prices could drive Chinese imports to all-time highs, as fuel unwanted elsewhere in the world is diverted to the biggest consumer. Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthDebt-Limit Deal Wins House Passage, Easing US Default ConcernsS&P 500 Almost Wipes Out Its Monthly Advance: Markets WrapHedge Funds Are Deploying ChatGPT to Handle All the Grunt WorkElon Musk Again World’s Richest Person as Arnault’s LVMH SinksChina’s purchase
Investing.com -- Oil prices rose in Asian trade on Thursday, rebounding from near one-month lows as investors cheered progress towards averting a U.S. debt default, while signs of life in Chinese manufacturing also brewed some optimism over a demand recovery in the country.
Brent crude, the world's most traded oil benchmark, has picked up a Texas twang. Starting today, a particular type of US oil will factor into...
U.S. crude stockpiles likely rose last week along with inventories of fuel, petroleum industry group API indicated in a report Wednesday that bucked expectations for falls in both as oil bulls bet on higher energy demand with the advent of summer road, air and seaborne travel. The U.S. crude inventory balance rose by 5.202 million barrels during the week ended May 26, according to the API, or American Petroleum Institute. The petroleum industry group reported a crude draw of 6.799M barrels in the prior week to May 19.
Indonesia and Malaysia have said they will delay trade talks with the EU while they seek fairer treatment for small palm oil producers hit by the bloc’s “punitive” new rules to prevent deforestation. Dato’ Sri Haji Fadillah bin Haji Yusof, deputy prime minister of Malaysia, told the Financial Times during a visit to Brussels on Wednesday that the EU’s recently adopted law banning the import of products that come from land cleared of forests, was “punitive and unfair treatment towards us and to smallholders in particular”. Indonesia, which has been negotiating with the EU over a free trade agreement for seven years, said it would not progress those talks until more leniency was given to palm oil producers under the new EU rules.
Oil prices hit four-week lows on Wednesday after weak manufacturing data from China, the world’s largest crude importer, raised fears about demand growth in the second half of the year. The dollar’s surge on expectations that the Federal Reserve will raise interest rates again in June added to the weight on crude futures that are priced in the U.S. currency. New York-traded West Texas Intermediate, or WTI, crude settled down $1.37, or 2%, at $68.09 per barrel.
With oil witnessing its largest decline in four weeks and weaker demand indicators appearing on the horizon, is now the moment to consider investing in inverse energy ETFs?
Apart from ConocoPhillips (COP) and Shell (SHEL), TechnipFMC (FTI), Eni (E) and Petrobras (PBR) hogged attention during the week.
Oil prices fell sharply Wednesday after weak manufacturing data from China, the world’s largest crude importer, raised fears about demand growth in the second half of the year. Activity data released earlier Wednesday showed that China’s manufacturing sector, an important regional growth driver, shrank for a second straight month in May. Oil is down over 16% this year as China’s lackluster economic recovery and tighter monetary policy from the Federal Reserve weighed on the demand outlook.
Investors are anticipating the outcome of US debt vote and digesting the latest economic data from China.
(Bloomberg) -- Coal India Ltd., the world’s biggest miner of the fuel, raised prices for the first time in five years to offset an increase to its $5 billion wage bill.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesTwitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity SaysJPMorgan Builds Unit for World’s Richest Families in Wealth BetMcCarthy Confident on Debt Vote Despite H
Investing.com -- Oil prices edged lower in Asian trade on Wednesday, retaining steep declines from the prior session as markets awaited a vote on the U.S. debt ceiling, while disappointing economic data from China brewed more concerns over sluggish demand.
The Schork Group Principal Stephen Schork joins Yahoo Finance Live to discuss oil prices amid the debt ceiling debate, China's Covid crisis, and OPEC+ uncertainty.
As anxiety-inducing as the drama over the U.S. debt ceiling was, it has faded from oil traders’ radar with the tentative deal reached between the White House and rival Republicans, leaving the market to agonize over two other things: Fed action over rates and OPEC’s decision on output. Crude prices tumbled 4% on Tuesday amid mounting speculation that the Federal Reserve will raise rates for an eleventh time in 16 months when its policy-makers meet on June 14. The biggest signal for the central bank’s action will be in U.S. jobs data for May, due on Friday, that could show higher-than-expected payrolls growth that forces the Fed against pausing on rates.
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
The oil supermajors’ proxy season culminates with ExxonMobil’s and Chevron’s annual meetings tomorrow. Today we carry a candid op-ed from Mark van Baal, head of Follow This, a small activist shareholder which tabled some of the recent climate resolutions. Van Baal argues that institutional investors need to get serious about their own commitment to the Paris Agreement climate targets again.
Oil prices slumped Tuesday as concerns about future economic growth, particularly in the U.S., the largest consumer of crude in the world, overshadowed relief over the signing of a deal to lift the U.S. debt ceiling. U.S. President Joe Biden and Republican House Speaker Kevin McCarthy announced an agreement over the weekend after weeks of fraught negotiations over raising the $31.4 trillion debt ceiling. The deal would raise the debt ceiling for two years, effectively pushing the normally fraught negotiations beyond the 2024 presidential election, and cap some government expenditures.
(Bloomberg) -- Coal cargoes unwanted in Europe are heading to Asia, where utilities are stockpiling the fuel amid sweltering temperatures heading into the summer.Most Read from BloombergPutin Orders Tighter Air Defenses After Drone Strikes on MoscowWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesTaiwan Rushes to Prevent China From Cutting Internet, PhonesS&P 500 Gains Wane After AI-Fueled Rally in Stocks: Markets WrapNvidia Surpasses $1 Trillion Market Valuation in Massive A
(Bloomberg) -- Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources.Most Read from BloombergPutin Orders Tighter Air Defenses After Drone Strikes on MoscowWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesTaiwan Rushes to Prevent China From Cutting Internet, PhonesS&P 500 Gains Wane After AI-Fueled Rally in Stocks: Markets WrapNvidia Surpasses $1 Trillion Market Valuation
Investing.com -- Oil prices reversed early gains to trade lower on Tuesday as fears of more interest rate hikes by the Federal Reserve and slowing economic growth largely offset optimism over raising the U.S. debt ceiling.
Investing.com -- Oil prices dropped on Monday, paring back earlier gains, as optimism over the debt ceiling agreement was tempered by renewed expectations that the Federal Reserve will carry on with its long-running campaign of interest rate hikes.
(Bloomberg) -- China’s raw materials producers are at the forefront of falling industrial profits as poor demand and price deflation tear into margins at steel mills, metals smelters, chemicals firms and coal miners.Most Read from BloombergWorld’s Most Valuable Chipmaker Nvidia Unveils More AI Products After $184 Billion RallyDebt-Limit Deal Brings Relief Tinged by Caution: Markets WrapManchin Gets Mountain Valley Pipeline Deal Into Debt BillTraders Ready to Embrace Riskier Assets After Debt-Cap
Investing.com -- Oil prices rose in Asian trade on Monday as U.S. lawmakers said they had reached a provisional agreement to raise the debt ceiling, with focus now turning to key Chinese data this week for cues on the world’s largest oil importer.