French Industrial Strikes Limit Fuel Supply, Hit Crude Prices
Industrial action over the past three weeks has seen every French refinery debilitated to some extent,...
Industrial action over the past three weeks has seen every French refinery debilitated to some extent, hindering fuel deliveries throughout the country and hurting European crude prices as market players look to sell.
About 17% of all fuel stations throughout the country were missing at least one product as of Monday night, France's petroleum association UFIP said, citing French energy ministry data.
Benchmark U.S. crude oil for May delivery rose $3.55 to $72.81 a barrel Monday. Brent crude for May delivery rose $3.13 to $78.12 a barrel.
Wholesale gasoline for April delivery rose 9 cents to $2.68 a gallon. April heating oil rose 7 cents to $2.77 a gallon. April natural gas fell 13 cents to $2.09 per 1,000 cubic feet.
U.S. stocks finish mostly higher as bank shares rebound
U.S. stocks closed mostly higher Monday, as bank shares climbed after First Citizens BancShares Inc. ...
U.S. stocks closed mostly higher Monday, as bank shares climbed after First Citizens BancShares Inc. FCNCA, +53.74% agreed to buy failed Silicon Valley Bank’s deposits and loans. The Dow Jones Industrial AverageDJIA, +0.60% finished 0.6% higher, while the S&P 500SPX, +0.16% gained 0.2% and the technology-heavy Nasdaq CompositeCOMP, -0.47% slipped 0.5%, according to preliminary data from FactSet. Regional and big banks helped buoy the S&P 500, with First Republic Bank FRC, +11.97% among the index’s top-performing stocks, FactSet data show. Shares of major Wall Street banks such as Bank of America Corp. BAC, +5.01%, Citigroup Inc. C, +3.83%, Wells Fargo & Co. WFC, +3.48% and JPMorgan Chase & Co. JPM, +2.92% also saw sharp gains in Monday’s trading session.
Energy Transfer to Acquire Permian’s Lotus Midstream for $1.45 Billion
Energy Transfer’s acquisition of Lotus Midstream’s infrastructure includes the Centurion Pipeline...
Energy Transfer’s acquisition of Lotus Midstream’s infrastructure includes the Centurion Pipeline and adds about 3,000 miles of crude gathering and transportation pipelines that extend from New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma.
Well, at least a large chunk of it. First Citizens BancShares, a Raleigh-based regional...
Well, at least a large chunk of it. First Citizens BancShares, a Raleigh-based regional bank, is scooping up SVB’s deposits, loans, and 17 branches that will reopen today under new ownership. About $90 billion of SVB’s assets will remain with the FDIC, which took control of SVB following its epic collapse over two weeks ago. The sale is meant to “instill confidence in the banking system,” the CEO of First Citizens said, and it seems to be working for now: Regional lenders like First Republic Bank are surging premarket.
