Sector Update: Energy Stocks Slipping Late Monday Afternoon
Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.8%.The Philadelphia Oil Service Sector index was adding 0
Sector Update: Energy
Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.8%.The Philadelphia Oil Service Sector index was adding 0
Market Chatter: Petrobras to Raise Gasoline Prices for Distributors by 7% Starting Tuesday
Petrobras (PBR) will increase gasoline prices by around 7% for distributors starting Tuesday, Reuters reported Monday, citing a company statement.Gasoline price will increase by 0.20 reais ($0.037) pe
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.
The driving force behind oil prices? Tropical storms hit Texas and oil ports are closed.
Tropical storm 'Beryl' advances into Texas, and some of the largest oil export hubs in the United States are closed.
WTI Moves Below $83.50 Amid Expectations of Increased Supply, US NFP Awaited
West Texas Intermediate (WTI) Oil price trades around $83.50 per barrel at the time of writing.
U.S. Oil Growth Is Slowing. What's Next for Prices. -- Barrons.com
Growing U.S. oil production has played an enormous role in the energy market since the pandemic.
Midday Crude Oil Analysis: Brent Crude Oil futures prices have fallen, and hurricane intensity has weakened.
Hurricane Beryl has weakened to a Category 2 hurricane with maximum sustained winds of 110 miles per hour. The storm is expected to reach the Yucatan Peninsula in Mexico on July 5th, bringing heavy rain, hurricane force winds, and storm surges.
Facing Non-Farm Payrolls: the first heavy data of trade in the second half of the year!
Why does the Non-Farm Payroll data tonight once again affect the nerves of global financial markets and traders?
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.
Saudi Arabia's non-oil PMI index in June hit a new two-year low, while the UAE hit a new 16-month low.
1. In Saudi Arabia, the non-oil private sector PMI index fell to 55.0 in June, the lowest level since January 2022; 2. In the UAE, the growth of non-oil private sector has slowed to a 16-month low.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0112 GMT - AGL Energy should continue to benefit from higher pow
Morgan Stanley Maintains Petroleo Brasileiro SA Petrobras(PBR.US) With Hold Rating, Maintains Target Price $19
Morgan Stanley analyst Bruno Montanari maintains $Petroleo Brasileiro SA Petrobras(PBR.US)$ with a hold rating, and maintains the target price at $19.According to TipRanks data, the analyst has a succ
Citi Maintains Petroleo Brasileiro SA Petrobras(PBR.US) With Hold Rating, Raises Target Price to $15
Citi analyst Gabriel Barra maintains $Petroleo Brasileiro SA Petrobras(PBR.US)$ with a hold rating, and adjusts the target price from $14 to $15.According to TipRanks data, the analyst has a success r
Update: Market Chatter: Exxon, Shell Among Oil Firms Interested in Galp Energia's Namibia Oil Prospect
(Updates with Chevron's, TotalEnergies', and Galp's refusal to comment in the sixth paragraph.) Exxon Mobil (XOM) and Shell (SHEL) are among the more than 12 oil companies that have expressed interest
BofA Securities Maintains Petroleo Brasileiro SA Petrobras(PBR.US) With Buy Rating, Maintains Target Price $17.9
BofA Securities analyst Caio Ribeiro maintains $Petroleo Brasileiro SA Petrobras(PBR.US)$ with a buy rating, and maintains the target price at $17.9.According to TipRanks data, the analyst has a succe
Oil Market Turns to the Upside – TDS
Oil market upside is being driven by Commodity Trading Advisors (CTA) flows yet again, TD Securities Senior Commodity Strategist Ryan McKay notes.
Oil Majors Show Interest in Acquiring Galp's Namibia Oil Prospect - Reuters
Over 12 Oil Companies, Including Exxon, Shell, And Brazil's Petrobras, Express Interest In Buying 40% Stake In Galp Energia's Major Offshore Namibia Oil Discovery; Estimated To Hold 10B Barrels Of Oil And Gas, Valued At Over $10B
Over 12 Oil Companies, Including Exxon, Shell, And Brazil's Petrobras, Express Interest In Buying 40% Stake In Galp Energia's Major Offshore Namibia Oil Discovery; Estimated To Hold 10B Barrels Of Oil