Strong international activity propelled oilfield services giant SLB's second-quarter earnings to $1.03...
Strong international activity propelled oilfield services giant SLB's second-quarter earnings to $1.03 billion, an increase of 11% from the first quarter, while revenue climbed 5% sequentially to $8.1 billion. Despite declining rig activity, North American revenue continued to grow, though at a notably slower pace.
Rebound in sight for Henry Hub gas prices after weak H1
A mix of factors such as record production, elevated inventories and mild temperatures caused average...
A mix of factors such as record production, elevated inventories and mild temperatures caused average monthly spot natural gas prices at the Henry Hub to decline by 34% to $2.18 per million British thermal units in the first six months of 2023, the Energy Information Administration reported, citing Refinitiv Eikon data. However, prices are projected to rise to an average of $2.83/MMBtu in the second half, as demand catches up to consistently high levels of dry natural gas production.
Profits for US refiners stay strong despite challenges
US refining profits are expected to remain strong despite a decline from last year's highs due to factors...
US refining profits are expected to remain strong despite a decline from last year's highs due to factors such as increased foreign competition, domestic outages, OPEC+ production cuts and improved distillate inventory levels. A healthy crack spread of around $37.50 per barrel bodes well for the industry's outlook, although new refining capacity in Asia and the Middle East and decreased diesel demand could affect future profitability.
The Education Department opened an investigation into Harvard’s use of legacy admissions following...
The Education Department opened an investigation into Harvard’s use of legacy admissions following a complaint from a nonprofit earlier this month.
A federal judge blocked an asylum policy President Biden has used to reduce crossings at the southern border but delayed it from taking effect for 14 days to allow for an appeal.
PacWest Bancorp, a regional lender struggling since the collapse of SVB in March, will merge with Banc of California to form Pacific Western Bank.
President Biden established a national monument in honor of Emmett Till, the Black teenager who was lynched in 1955, and his mother, who became a civil rights advocate.
GM said it’ll make a next-generation Chevy Bolt EV three months after announcing it would end production of its best-selling electric vehicle.
Trader Joe’s is recalling two of its cookie brands because they could contain rocks.
It's Fed day, and markets are absorbing a big slate of earnings results from the likes of Alphabet...
It's Fed day, and markets are absorbing a big slate of earnings results from the likes of Alphabet and Microsoft.
Stock futures are a bit lower, though that's after a session in which the S&P 500 finished at its highest level since April 2022.
Will Jerome Powell spoil the fun?
"If Chair Powell leans into expectations that the FOMC is ready to pause, or at least skip a September hike, that may encourage further risk-taking across global financial markets," says Han Tan, chief market analyst at Exinity Group.
"However, should the Fed acquiesce to its June dot plot and swing the door wide open for yet another rate increase, such repricing should prompt an immediate but possibly limited recovery for the US dollar, while weighing on the likes of gold, stocks, and oil."
