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Brent crude futures surged over 4%! Chevron and Occidental Petroleum both rose over 2%, and Goldman Sachs emphasized that oil demand will expand due to the cold winter.
On Friday, influenced by the decline in USA Crude Oil Product inventories, the international crude oil price benchmark—Brent Futures price rose by over 2%, breaking through $78.5 per barrel.
Express News | Occidental Petroleum: Average Realized Prices for Total Worldwide Natural Gas for Three Months Ended Dec 31, $1.41/Mcf
U.S. stock market early session | The three major Indexes all declined, with the Nasdaq down over 2%; Technology stocks plummeted, with AMD falling more than 5%; Blue-chip stocks surged against the trend! Pharmacy stock WBA rose over 25%.
On the evening of October 10 in Peking, US stocks opened lower on Friday. The surge in US bond yields put pressure on the stock indices, with the 30-year US bond yield rising to 5%. The non-farm payroll data for December significantly exceeded expectations, and the unemployment rate fell, leading investors to lower their expectations for a rate cut by the Federal Reserve.
BofA Securities Maintains Occidental Petroleum(OXY.US) With Hold Rating, Cuts Target Price to $52
Oil Remains Well Supported – ING
Express News | Occidental Petroleum Corp : BofA Global Research Cuts Price Objective to $52 From $54