Morning Briefing: Oil jumps above $80, turbocharged by supply shortages

Moomoo Breakfast US wrote a column · Oct 12, 2021 04:39

Morning Briefing: Oil jumps above $80, turbocharged by supply shortages

By Ander

Hey, mooers! Here are things you need to know before the opening bell:

- Stock futures were little changed in early morning trading on Tuesday after Wall Street kicked off the week on a sour note.

- The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy. Crude settled at $80.52 a barrel, closing above $80 for the first time since late 2014.

Market Snapshot

Stock futures were little changed in early morning trading on Tuesday after Wall Street kicked off the week on a sour note.

Futures on the $Dow Jones Industrial Average(.DJI.US)$ dropped just 22 points, having earlier pointed to a loss of more than 200 points. $S&P 500 Index(.SPX.US)$ futures and $NASDAQ 100 Index(.NDX.US)$ futures also traded in fractionally negative territory.

Source: Bloomberg

Top News

Oil jumps above $80, turbocharged by supply shortages

The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy. Crude settled at $80.52 a barrel, closing above $80 for the first time since late 2014.

Stock futures slip ahead of job market data

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EasyJet reports GBP1 billion loss but sees positive momentum

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Southwest Airlines cancels hundreds of flights after weekend disruption

More than 360 flights were scrapped following 1,900 cancellations over the weekend because of air-traffic control issues and severe weather. $Southwest Airlines(LUV.US)$

Elon Musk is the world's richest person. He likes to brag to Jeff Bezos about it, too.

Mr. Musk replied to the Amazon founder on Twitter with a silver medal emoji, an apparent reference to their wealth. $Tesla(TSLA.US)$

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