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.
Market Chatter: Suncor Reduces Output From the 235,000 BPD Firebag Project Due to Wildfire Risk
Suncor Energy (SU.TO, SU) is curtailing some production at its Firebag thermal oil sands project in northern Alberta with the site under threat from an out of control wildfire, Canadian Press reported
Wildfire Risk Forces Suncor To Shut Down Firebag Oil Sands Site: Report
Suncor Energy Inc. (NYSE:SU) reportedly temporarily shut down its 215,000 barrel-per-day Firebag oil sands site in northern Alberta.The company also reduced some production as a precautionary measure
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?
Suncor Oil Sands Site Shut Because of Nearby Wildfire, Alberta Minister Says
Wildfire Burns Out of Control Near Suncor's Firebag Oilsands Site
K-Bro Linen And 2 Other TSX Dividend Stocks To Consider
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
Schneider Electric(TM) Sustainability Research Institute, Towards New Energy Systems and Process Electrification: Optimizing Renewable Energy Integration and Grid Costs for Electrified Ammonia Production
Driving the Transition to Sustainable Ammonia Production through Advanced Techno-Economic AnalysisNORTHAMPTON, MA / ACCESSWIRE / July 3, 2024 / Schneider ElectricDownload the Schneider Electric Sustai
RBC Capital Reiterates Outperform on Suncor Energy, Maintains C$65 Price Target
RBC Capital analyst Greg Pardy reiterates Suncor Energy (TSX:SU) with a Outperform and maintains C$65 price target.
Suncor Energy Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 05/28/2024 16.22% Goldman Sachs $38 → $45 Maintains Buy 05/23/2024 16.22% Goldman Sachs $38 → $45 Maintain
Suncor Energy Development Opportunities Stand Out for Bull -- Market Talk
0849 ET - RBC Capital Markets comes away from meetings with Suncor Energy executives confident the energy company is well positioned to demonstrate ongoing operating and financial momentum. Analyst Gr
Exploring TSX Dividend Stocks: Why To Avoid Nutrien And Consider One Better Option