Oil's currently a 'demand story," with prices settling near their lowest in 2 weeks
Oil declined Monday, with U.S. prices settling at their...
Oil declined Monday, with U.S. prices settling at their lowest in almost two weeks, retreating in tandem with equity markets amid growing concerns about the health of the economy and the outlook for demand, said Colin Cieszynski, portfolio manager and chief market strategist at SIA Wealth Management.
"Oil is currently a demand story and if there are any issues related to supply, it’s more likely oversupply," he told MarketWatch. It’s becoming clear that issues surrounding tariffs are "not going to be settled or resolved easily and could drag on for months."
Traders should start to hear more about the outlook for oil later this week and into next week, once the big producers start reporting on Friday, said Cieszynski.
West Texas Intermediate crude for June delivery lost 97 cents to settle at $62.05 a barrel, the lowest front-month contract finish since April 15, according to Dow Jones Market Data.
Dow, S&P 500 score 5th day of gains, Nasdaq ends down as tariff-wary investors await busy week of earnings and economic data
Stocks finished mostly higher Monday ahead of...
Stocks finished mostly higher Monday ahead of a busy week of economic data and an onslaught of corporate earnings, including results from four members of the so-called Magnificent 7. Investors look for signs of progress on the trade front and any signs of damage from tariffs.
The S&P 500 gained 0.06%, closing at 5,528.75, marking its fifth consecutive day of gains. The Nasdaq Composite, however, ticked 0.1% lower, finishing at 17,366.13. The Dow Jones Industrial Average rose by 114.09 points, or 0.28%, to settle at 40,227.59.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
U.S. energy firms this week added oil and natural gas rigs for a second...
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, for the first time since February, energy services firm Baker Hughes said in its closely followed report on April 25.
The total oil and gas rig count, an early indicator of future output, rose by two to 587 in the week to April 25.
Despite this week's rig increase, Baker Hughes reported that the total count was still down 26, or 4% below the same time last year.
Baker Hughes said oil rigs rose by two to 483 this week, while gas rigs increased by one to 99.
In April, drillers cut the number of rigs operating by five, putting the total count down for a second month in a row with oil rigs down by one and gas rigs off by four.
E&Ps Show ‘Unusual’ Discipline with $4 NatGas Strip
Haynesville Shale producers are exhibiting rare discipline in the face...
Haynesville Shale producers are exhibiting rare discipline in the face of elevated natural gas prices, forcing some analysts to redraw their growth forecasts.
Haynesville E&Ps aren’t racing to drill up scarce shale gas inventory as the “golden age of natural gas” begins to take form.
Henry Hub futures will average $3.56 for the rest of 2025, according to CME Group data. Forward prices are at a healthy $4/Mcf for the rest of 2026, Expand Energy President and CEO Nick Dell’Osso said. He spoke April 24 at the “Powering AI Global Leadership Summit” hosted by Oklahoma State University’s Hamm Institute for American Energy.
Yet, U.S. gas rigs are down from the levels seen a year ago, when prices hovered around $1.50, according to Energy Information Administration (EIA) data.
“That’s unusual,” Dell’Osso said. “When you see a forward curve of $4 for natural gas, you should see that rig count go up.”
Earnings weeks don’t get much bigger than this: While...
Earnings weeks don’t get much bigger than this: While you may be counting down the days to Summer Fridays, about 180 S&P 500 companies are set to release their earnings this week, with four of the Mag 7 taking center stage—Microsoft and Meta report on Wednesday; Apple and Amazon on Thursday. The S&P is coming off its second positive week out of the past three, and the Q1s for these tech giants have the potential to keep the “we’re so back” vibes going. Microsoft’s report should provide insight into its AI business, and Apple CEO Tim Cook could outline a plan to address any trade tensions involving China and the expansion of manufacturing in India.
At least 11 people were killed after a vehicle rammed into a crowd at a Vancouver street festival.
An explosion at Iran’s largest shipping port killed at least 40 people. Authorities say foul play is not suspected.
The tuition-free primary school founded by Mark Zuckerberg and his wife, Priscilla Chan, will close at the end of the 2025–2026 school year.
