New round of contracts awarded for SPR refill program
Four companies including Shell...
Four companies including Shell Tradingand Atlantic Trading & Marketing have won Energy Department contracts to supply a combined 3.2 million barrels of crude oil to the Strategic Petroleum Reserve at an average price of $71.98 per barrel, with deliveries set for September. The department plans to issue another solicitation for SPR purchases on Friday.
Benchmark U.S. crude oil for August delivery fell 85 cents to $69.79 a barrel Monday. Brent crudefor September delivery fell 76 cents to $74.65 a barrel.
Wholesale gasoline for August delivery fell 8 cents $2.46 a gallon. August heating oil fell 7 cents to $2.38 a gallon. August natural gasfell 9 cents to $2.71 per 1,000 cubic feet.
🧨MarketWatch: Stocks lock in modest gains for holiday-abbreviated session
Stocks ended a lackluster, holiday-shortened trading session with minor gains to kick off the second...
Stocks ended a lackluster, holiday-shortened trading session with minor gains to kick off the second half of 2023.
The Dow Jones Industrial Average rose around 11 points, or less than 0.1%, while the S&P 500advanced 0.1% and the Nasdaq Composite eked out a 0.2% rise.
U.S. markets will be closed Tuesday for the Independence Day holiday.
Stocks posted gains Friday, with the Nasdaq Composite posting a 31.7% first-half advance, its strongest since 1983. The S&P 500 jumped 15.9%. The Dow lagged behind, up 3.8% for the first half.
Saudi Arabia will prolong its unilateral oil production cut...
Saudi Arabia will prolong its unilateral oil production cut by one month, keeping a lid on supply amid persisting fears over the global economy. Its OPEC+ ally Russia also announced fresh curbs on exports.
The kingdom will maintain the 1 million barrel-a-day reduction — launched this month on top of existing curbs agreed with OPEC+ — into August and could extend it further, according to a statement published by state-run Saudi Press Agency. The country will pump about 9 million barrels a day, the lowest in several years, sacrificing sales volumes for what has so far been a minimal reward in terms of higher prices.
Wimbledon begins today:Novak Djokovic is the clear favorite in the men’s draw, but look out for Taylor Fritz (No. 9 in the world) and Frances Tiafoe (No. 10). It’s the first time since 2012 that two American men are ranked in the Top 10 entering Wimbledon.
July Fourth is tomorrow.If you haven’t bought supplies for your cookout yet, you’ll find that sirloin steak and processed cheese for your burger are more expensive than last July Fourth, but chicken and eggs are cheaper, according to Wells Fargo’s Chief Agricultural Economist Michael Swanson. Plus, filling up your gas tank will cost you about $1.30 less per gallon than a year ago, per AAA.
