Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Petrobras Surprises With First Gasoline Price Hike in 11 Months
Sector Update: Energy Stocks Slipping Late Monday Afternoon
Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.8%.The Philadelphia Oil Service Sector index was adding 0
Sector Update: Energy
Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.8%.The Philadelphia Oil Service Sector index was adding 0
Market Chatter: Petrobras to Raise Gasoline Prices for Distributors by 7% Starting Tuesday
Petrobras (PBR) will increase gasoline prices by around 7% for distributors starting Tuesday, Reuters reported Monday, citing a company statement.Gasoline price will increase by 0.20 reais ($0.037) pe
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.
WTI Moves Below $83.50 Amid Expectations of Increased Supply, US NFP Awaited
West Texas Intermediate (WTI) Oil price trades around $83.50 per barrel at the time of writing.
U.S. Oil Growth Is Slowing. What's Next for Prices. -- Barrons.com
Growing U.S. oil production has played an enormous role in the energy market since the pandemic.
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.
Oil Slips After U.S. Data Points to Cooling Economy
0816 GMT - Oil prices edge lower on a thinner trading day due to the Fourth of July holiday, in spite of softer-than-expected U.S. employment and business activity data fuelling optimism for future ra
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0112 GMT - AGL Energy should continue to benefit from higher pow
Is the oil price driver here? Category 4 Hurricane Belial is advancing into Texas, threatening major US refineries.
The hurricane season in the Caribbean Sea is threatening the operation of major oil refineries in Texas, the largest oil-producing state in the United States.
Morgan Stanley Maintains Petroleo Brasileiro SA Petrobras(PBR.US) With Hold Rating, Maintains Target Price $19
Morgan Stanley analyst Bruno Montanari maintains $Petroleo Brasileiro SA Petrobras(PBR.US)$ with a hold rating, and maintains the target price at $19.According to TipRanks data, the analyst has a succ
Citi Maintains Petroleo Brasileiro SA Petrobras(PBR.US) With Hold Rating, Raises Target Price to $15
Citi analyst Gabriel Barra maintains $Petroleo Brasileiro SA Petrobras(PBR.US)$ with a hold rating, and adjusts the target price from $14 to $15.According to TipRanks data, the analyst has a success r
Update: Market Chatter: Exxon, Shell Among Oil Firms Interested in Galp Energia's Namibia Oil Prospect
(Updates with Chevron's, TotalEnergies', and Galp's refusal to comment in the sixth paragraph.) Exxon Mobil (XOM) and Shell (SHEL) are among the more than 12 oil companies that have expressed interest
BofA Securities Maintains Petroleo Brasileiro SA Petrobras(PBR.US) With Buy Rating, Maintains Target Price $17.9
BofA Securities analyst Caio Ribeiro maintains $Petroleo Brasileiro SA Petrobras(PBR.US)$ with a buy rating, and maintains the target price at $17.9.According to TipRanks data, the analyst has a succe
Oil Market Turns to the Upside – TDS
Oil market upside is being driven by Commodity Trading Advisors (CTA) flows yet again, TD Securities Senior Commodity Strategist Ryan McKay notes.
Oil Majors Show Interest in Acquiring Galp's Namibia Oil Prospect - Reuters
Express News | Over 12 Oil Companies, Including Exxon, Shell, And Brazil's Petrobras, Express Interest In Buying 40% Stake In Galp Energia's Major Offshore Namibia Oil Discovery; Estimated To Hold 10B Barrels Of Oil And Gas, Valued At Over $10B