Oil prices settled nearly 4% lower on Wednesday March orders for U.S. capital goods declined sharply Exports of Russian crude from western ports set for 4-yr high US oil stocks draw as gasoline demand rebounds -EIA Russian deputy PM says OPEC+ remains efficient tool U.S. consumer confidence falls to nine-month low in April Russian refineries …
Continue reading “Oil suffers heavy losses on US recession fears”
Crude oil stockpiles in the United States declined by 5.1 million to stand at 460.9 million barrels in the week ending April 21, the US Energy Information Administration revealed in its report on Wednesday. The crude oil refinery inputs in the country averaged 15.8 million barrels per day, declining by 11,000 barrels per day …
Prices of oil futures rose on Wednesday after the American Petroleum Institute (API) reported that the United States oil inventories shrank by 6.08 million barrels in the week ending April 21. This decline is much more than analysts predicted, Reserves in Cushing, Oklahoma, were reported to have gone up by 0.46 million barrels. The stockpile …
Continue reading “United States oil inventories shrank by 6.08 million barrels”
April 24 (Reuters) – First Republic Bank (FRC.N) shares sank more than 20% after the closing bell on Monday as it said deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet.The deposit slump overshadowed profits that beat expectations for the beleaguered company, …
Continue reading “First Republic Bank deposits tumble more than $100… The next domino?”
April 24 (Reuters) – The Nasdaq closed lower and underperformed the S&P 500 and the Dow on Monday, pressured by high-profile megacaps as investors awaited results from companies including Microsoft while Tesla shares fell on concerns about its spending plans. Tesla Inc (TSLA.O) fell after the automaker raised its 2023 capital expenditure forecast …
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The prices of oil futures turned to gains on Monday after previously scoring losses amid general unpredictability concerning central banks and their future steps in relation to raising interest rates. Adding to the uncertainty are the conflict in Sudan and the worries about the export of petroleum products from that country. West Texas Intermediate for …
Continue reading “Oil turns to gains, rises by more than 1%”
The Federal Reserve is focused on reducing inflation so as to support a growing economy and rising incomes, Fed Governor Michelle Bowman said on Thursday, adding that the strong labor market has made it hard for growing businesses to find workers. “We want to hear how inflation, along with the higher interest rates needed to …
Oil prices continued to trend lower in morning trade in Asia, with WTI heading toward $78 and Brent moving closer to $82. Despite the EIA reporting a sizeable inventory draw of 4.6 million barrels for the week to April 14th, traders were focused on demand concerns. The Fed has repeatedly indicated that is it not …
Continue reading “Oil Prices Continue To Fall As Demand Concerns Persist”
Commodity experts at StanChart have predicted that global oil demand will set a new all-time high of 102.24mb/d in August. StanChart sees oil demand setting fresh all-time highs in both November and December. The bullish interpretation simply is that this is an all-time high; the bearish one is that it has taken no less than …
Continue reading “Standard Chartered: Oil Demand To Hit All-Time High In August”
While some regional bank chiefs mismanaged rising rates, billionaire Andy Beal patiently waited years for yields to rise before buying Treasury inflation-protected securities like crazy. For a decade, Andrew Beal waited for market conditions to change. With interest rates at rock-bottom levels, year after year, and other small and regional banks taking big risks to …
Continue reading “America’s richest banker places a massive bond-market bet on inflation”