Oil Inventories in Surprise 593,000 Barrel Rise Last Week: API
U.S. crude stockpiles unexpectedly climbed last week, the API reported Tuesday, but...
U.S. crude stockpiles unexpectedly climbed last week, the API reported Tuesday, but larger declines in product supplies including gasoline pointed to underlying strength in energy demand despite signs of slowing global growth.
U.S. crude inventories rose by 593,000 barrels for the week ended Aug. 26. That compared with a draw of 5.6 million barrels reported by the API in the previous week. Economists were expecting a decline of about 633,000 barrels.
The API data also showed that gasoline inventories fell by 3.4 million barrels last week, and distillate stocks decreased by 1.7 million barrels.
The official government inventory report due Wednesday is expected to show weekly U.S. crude supplies fell by about 1.5 million barrels last week.
Last Soviet leader Mikhail Gorbachev, who ended the Cold War, dies aged 91
(Reuters) -Mikhail Gorbachev, who ended the Cold War without bloodshed but failed to prevent the collapse...
(Reuters) -Mikhail Gorbachev, who ended the Cold War without bloodshed but failed to prevent the collapse of the Soviet Union, died on Tuesday at the age of 91, hospital officials in Moscow said.
"Mikhail Gorbachev passed away tonight after a serious and protracted disease," Russia's Central Clinical Hospital said in a statement.
Every S&P 500 sector closed in the red with losses ranging from 0.4% (financials)...
Every S&P 500 sector closed in the red with losses ranging from 0.4% (financials) to 3.4% (energy).
The energy sector was in last place, by a wide margin, while energy complex futures sold off.WTI crude oil futures fell 5.5% to $91.60/bbl. Natural gas futures fell 2.6% to $9.06/mmbtu. Unleaded gasoline futures fell 7.0% to $2.53/gal. This comes after Bloomberg reported that the EU is set to meet its gas storage filling goal two months ahead of target. Also, European Commission President von der Leyen said that emergency intervention is being planned to rein in energy prices.
Dow ends down 300 points as U.S. stocks extend losing streak
U.S. stocks closed sharply lower Tuesday, after signs of a strong labor market sparked fears the Federal...
U.S. stocks closed sharply lower Tuesday, after signs of a strong labor market sparked fears the Federal Reserve may need to be more aggressive in cooling the economy as it aims to tame hot inflation. The Dow Jones Industrial Average DJIA, -0.96% finished around 1% lower, while the S&P 500 SPX, -1.10% and the technology-laden Nasdaq Composite COMP, -1.12% each slid around 1.1%, according to preliminary FactSet data. The Labor Department said Tuesday that U.S. job openings rose to 11.2 million in July. That was the first rise in four months, while the number of people quitting remained high even as it edged down slightly in July.
Cheniere plans further expansion of Corpus Christi plant
Cheniere Energy has filed documents with the Federal Energy...
Cheniere Energy has filed documents with the Federal Energy Regulatory Commission unveiling plans to expand its Corpus Christi liquefied natural gas export facility in Texas with two more production trains and a 7.77-million-cubic-foot storage tank. The company intends to apply formally to the FERC in February, begin construction in Oct. 2024 and commission the expansion in the second half of 2031.
