Dow is having its longest winning streak in more than 35 years The Dow Jones Industrial Average managed to pull off a 13th day in the green on Wednesday — it’s longest winning streak since Jan. 20, 1987. There’s no question that the Dow’s latest milestone is one for the history books. One more day …
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Crude oil stockpiles in the United States went down by 600,000 to come in at 456.8 million barrels in the week ending July 21 The Energy Information Administration (EIA) reported published on Wednesday. Crude oil refinery inputs averaged 16.5 million barrels per day (bpd), declining by 107,000 bpd compared to the past week’s …
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China is implementing measures to stimulate economic growth, focusing on private investment and foreign financing. The NDRC is inviting private capital to national projects and key industrial chains. Changes in policy aim to improve business conditions, treating private companies the same as state-owned enterprises. In the face of emerging economic challenges, China has outlined a …
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Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an …
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Oil prices are set to rise in the second half of the year, as supply struggles to meet demand, according to an International Energy Forum official. Joseph McMonigle, secretary general of the International Energy Forum, attributes the push in oil prices to an increasing demand from China and India – two of the biggest oil …
China’s pledge to boost its economy has improved sentiment in oil markets while fundamentals look increasingly bullish. The prices of oil futures grew on Friday as supply woes seemingly continued to dominate the crude market sentiment. Additional voluntary oil production cuts previously announced by Saudi Arabia and Russia seem to have remained in focus. In …
Share prices in Tesla sank nearly 10% on Thursday afternoon, even after the company reported earnings that beat market expectations. The reason for the crash? Because Tesla didn’t beat analyst expectations for the right reasons, according to the Wall Street Journal. Instead of beating expectations due to better-than-expected cost reductions, Tesla’s beat was due to …
The tech-heavy Nasdaq fell on Thursday, as Tesla and Netflix results underwhelmed investors, while a strong annual forecast by Johnson & Johnson set the blue-chip Dow on course for its ninth day of gains. Tesla’sTSLA.O shares fell nearly 7% after the electric-car maker on Wednesday reported a drop in its second-quarter gross margins to a …
China is importing oil at near-record levels while its domestic product has also increased. China’s oil imports in June jumped 45.3 percent on the year to the second-highest monthly figure on record, with refiners building up inventories despite weak domestic demand. Oil imports in June totaled 12.67 million barrels per day–a sharp increase from a …
Saudi Arabia’s crude oil exports fell below 7 million barrels per day in May, falling by 388,000 barrels per day from a month earlier. Saudi Arabia’s production fell by 502,000 barrels per day in the same month, a cut in line with its OPEC+ pledge. Saudi Arabia also pledged to cut an extra 1 million …
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