A customer refuels a car at a Shell petrol station in Etlham, southeast London on September 30, 2020. ben stansall/Agence France-Presse/Getty Images Oil prices were hit by a double whammy on Friday, with news that President Donald Trump said he has contracted coronavirus adding to the industry’s concerns aboutRead More →
U.S. stocks were mostly down, but off session lows, late Tuesday after Apple Inc. said that the viral outbreak in China would hurt its second-quarter results, reigniting fears that the disease may disrupt manufacturing supply chains and have broad implications for the global economy and financial markets. How are theRead More →
Fears around China’s ability to contain a deadly coronavirus outbreak have given the U.S. junk-bond market its first major test of the year. Laredo Petroleum Inc. LPI, +2.21% and Range Resources Corp. RRC, +3.61% were two energy companies in January from a deluge of U.S. businesses that raced toRead More →
Gold prices on Monday headed to a more than six-year high, as fears of the economic impact of a fast-moving viral outbreak hurt appetite for stocks and powered buying in assets perceived as havens. “The anticipated Wuhan flu contagion triggered sell-off in equity markets will likely drive gold demand outRead More →
Oil futures fell on Wednesday to mark their lowest settlement in about seven weeks as fears of an oversupply of crude, and potential hit to demand on the back of the coronavirus outbreak in China, outweighed a disruption to Libyan production. West Texas Intermediate crude for March delivery CLH20, -2.76%Read More →
U.S. stock and bond markets will be closed Monday in observance of the Martin Luther King Jr. holiday, coming as Wall Street absorbs a record-setting run-up for equities. The Securities Industry and Financial Markets Association, or Sifma, recommends that bond markets are closed, including the dollar-denominated 10-year Treasury note TMUBMUSD10Y,Read More →
Oil futures struggled for direction on Friday, seesawing between modest gains and losses, with prices on track to register a loss for a second week in a row. Traders continued to weigh the prospects for energy demand in the wake of the China-U.S. trade deal on Wednesday and Senate approvalRead More →
Asian markets gained in early trading Tuesday as Middle East tensions remained high, but at least didn’t rise any higher. U.S. Defense Secretary Mark Esper on Monday said U.S. troops are not planning on pulling out of Iraq, despite the release of a draft letter than suggested as much, andRead More →
Oil prices added to gains on Monday, with the benchmarks for crude touching their highest levels in at least 7 months in the wake of Friday’s killing of Iranian Gen. Qassem Soleimani in a U.S. drone strike, which has ratcheted up Middle East tensions. West Texas Intermediate crude for FebruaryRead More →
MENAHEM KAHANA/AFP via Getty Images Tourists at the Khazneh, or Treasury, in Petra, Jordan. The popular destination is in a region of the world where tensions can be expected to rise after an U.S. airstrike in Baghdad, Iraq, killed a top Iranian military official. Iran and Iraq are obviously notRead More →
The death of an Iranian military leader in a U.S. airstrike has sent markets reeling. But U.S. consumers won’t feel the impact of rising oil prices immediately. Qassem Soleimani, the leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps, was killed in an airstrike on Baghdad’s international airportRead More →
It’s always useful to have a sense of Middle Eastern history, as financial markets swirled following the news of the U.S. airstrike that killed a prominent Iranian general in Baghdad. So let’s go way back to…September, when an unprecedented drone attack on Saudi Arabia oil processing facilities cut the country’sRead More →
U.S. stocks have set a string of records heading into the Christmas and the New Year holidays, giving investors a lot to cheer about over the coming break. But before the ball drops on a fresh decade, here’s when investors can expect markets to close over the next two weeks.Read More →
Oil futures rose Wednesday, buoyed after industry data showed a large drop in U.S. crude oil inventories and as traders await a meeting of OPEC producers and their allies amid growing expectations for an agreement to extend and deepen output cuts. West Texas Intermediate crude for January delivery CLF20, +4.05%Read More →
Oil futures headed lower early Monday as investors failed to shake worries that growing signs of weakness will eventually hurt demand for crude oil. West Texas Intermediate crude for November delivery CLX19, -1.58% fell 21 cents, or 0.4%, to $53.66 a barrel on the New York Mercantile Exchange, after theRead More →
Oil futures traded higher Friday, looking to score a third gain in row, with support tied to progress toward deals on U.S.-China trade and Brexit, as well as a weekly fall in U.S. inventories. Prices, however, held on to a loss for the week on the back of downbeat economicRead More →
Oil futures traded higher Wednesday, holding onto the bulk of earlier gains on the back of optimism over U.S.-China trade negotiations, as the U.S. government reported a fall in petroleum product stocks, as well as a fourth straight rise in crude supplies. A news report said Beijing was open toRead More →
Global crude production has taken a serious hit following the weekend attack on Saudi oil facilities, leading to a spike in oil prices, but for gasoline — and U.S. drivers — this market-moving event couldn’t have come at a better time. “Motorists are lucky this didn’t happen during summer drivingRead More →
Oil futures headed lower for a second day in a row on Wednesday as crude-oil markets reacted to Saudi Arabia’s report that it would fully restore some 5.7 million-barrels-a-day of crude output by month ended after last weekends attacks. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman on Tuesday saidRead More →
Oil futures dropped sharply on Tuesday, after registering one of the sharpest rallies on record a day earlier, following a report that output from Saudi Arabia will be quick to recover from weekend attacks on major crude facilities which disabled more than half of the kingdom’s daily crude production level.Read More →
Bonds issued by embattled U.S. energy companies with sub-investment-grade ratings saw a major boost Monday after oil prices spiked following Saturday’s attack on Saudi Arabia’s oil production facilities. Energy company defaults have weighed down the U.S. high-yield bond market all year as companies have struggled to balance slower global growthRead More →
The chances of a deeper oil production cut by the Organization of the Petroleum Exporting Countries and their allies has seen a significant uptick in just the last couple of days, as the group known as OPEC+ readies for meeting on the sidelines of the World Energy Congress in AbuRead More →
The Fed decision is set for 2 p.m. Eastern Time with a news conference a half-hour later The Dow and S&P 500 see muted action ahead of announcement, hanging near all-time highs 10-year Treasury yield rises to 2.09%; Turkish lira gains on threat of sanctions Stock benchmarks mostly drifted higherRead More →
Crude futures notched modest gains on Friday, a day after an attack on two tankers in the Strait of Hormuz triggered concerns about disruptions to the global flow of oil and prompted a rally in prices. Despite Thursday’s price climb of more than 2%, however, oil futures face losses forRead More →
Oil settled on a mixed note Monday, with U.S. crude gaining for the session but global benchmark prices giving up an earlier rise to finish lower. Traders weighed signs that the Organization of the Petroleum Exporting Countries will decide to extend its production-cut agreement following a committee meeting over theRead More →
