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Crude Oil Slides as Gaza Ceasefire Talks Trump Hurricane Beryl Threat
Goldman Sachs: Hedge funds buy csi commodity equity index stocks at the fastest rate in five months.
According to Wisdom Finance APP, a Goldman Sachs report shows that hedge funds bought commodity-sensitive stocks at the fastest pace in five months until July 5th. Last week, energy stocks such as Chevron (CVX.US), Exxon Mobil (XOM.US), and Shell (SHEL.US) fell due to the impact of tropical storm Beril on the Caribbean region. However, energy and raw material stocks were one of the most heavily bought sectors by Goldman Sachs' institutional brokerage department last week. The department tracks the trading activity of hedge funds. Goldman Sachs stated that oil and gas companies, container and packaging companies, metal and mining companies were attractive.
Fed's Powell, Inflation Data, Earnings Can Cement a September Rate Cut. Here's Why and 4 Other Things to Know Today. -- Barrons.com
When the Federal Reserve started raising interest rates, the big question was whether it could bring inflation to heel without crashing the economy. Two years later, we have an answer -- almost. The J
Express News | Tong Petrotech Corp.: Chevron becomes an important customer for North American business.
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.
Crude oil product analysis at noon: Brent crude oil futures prices fell, with limited impact from the storm.
Hurricane Beryl is expected to make landfall in Texas, but the projected path suggests it may not have a significant impact on the oil refining and export industry in the Corpus Christi area. Chevron has begun sending non-essential personnel back to offshore facilities.