OklahomaMinerals.com

Snippets

• Closing Market Update for Thursday
  U.S. stocks finished mixed Thursday as the broad selling pressure from the first two...

  U.S. stocks finished mixed Thursday as the broad selling pressure from the first two trading days of the year abated somewhat and investors look ahead to Friday's Nonfarm Payrolls report, which will likely shape expectations for Federal Reserve policy and the path of interest rates in early 2024.

  
  

  Technology shares remained under pressure as tech bellwether Apple (AAPL), part of the so-called Magnificent Seven companies that posted outsized gains in 2023, took its second analyst downgrade of the year. Tech weakness continued to weigh on the Nasdaq Composite® (COMP), which fell for the fifth straight day and ended at its lowest level since mid-December.

  
  

  According to Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research, Friday's Labor Department jobs report could be one of a few key "catalysts" for market direction early this year. Next week brings the December Consumer Price Index(CPI) and the unofficial start to the fourth-quarter earnings season. He also noted investors continued to "rotate" into some of 2023's weakest-performing sectors, as evidenced by strength in financial services, health care, and utilities.

  
  

  "Stocks are attempting to stabilize after a rough start to 2024, with evidence of a 'rotation trade' still being seen," Petersen said. "An important question for investors could be, 'How long does the rotation out of last year’s winners and into the underperformers persist?'" Here's where the major benchmarks ended:

  
  

  The S&P 500® index (SPX) was down 16.13 points (0.3%) at 4,688.68; the Dow Jones Industrial Average® (DJI) was up 10.15 points at 37,440.34; the Nasdaq Composite was down 81.91 points (0.6%) at 14,510.30.

  
  

  The 10-year Treasury note yield (TNX) was up about 9 basis points at 3.997%.

  
  

  The Cboe® Volatility Index (VIX) was up 0.08 at 14.12.

  
  
  Read More
• Closing Oil & Gas Prices for Thursday
  Benchmark U.S. crude oil for...

  Benchmark U.S. crude oil for February delivery fell 51 cents to $72.19 per barrel Thursday. Brent crude for March delivery fell 66 cents to $77.59 per barrel.

  
  

  Wholesale gasoline for February delivery fell 5 cents to $2.11 a gallon. February heating oil fell 2 cents to $2.59 a gallon. February natural gas rose 15 cents to $2.82 per 1,000 cubic feet.

  
  
  Read More
• Talos starts up Lime Rock, Venice US Gulf discoveries
  Talos Energy has commenced oil and natural gas production from its Lime Rock and Venice discoveries,...
  Talos Energy has commenced oil and natural gas production from its Lime Rock and Venice discoveries, which are connected to its Ram Well platform in the US Gulf of Mexico. Initial combined gross production from the two wells exceeded 18,500 barrels of oil equivalent per day, while their combined gross ultimate recoverable resources are estimated at 20 to 30 million barrels of oil equivalent.
  Read More
• US crude, product stockpiles diverge in latest API data
  The latest data from the American Petroleum Institute reveals a 7.41-million-barrel decline in US crude...
  The latest data from the American Petroleum Institute reveals a 7.41-million-barrel decline in US crude inventories for last week, surpassing analysts' projections of a 2.96-million-barrel drop. In contrast, gasoline and distillate stockpiles added 6.9 million barrels and 6.68 million barrels, respectively.
  Read More
• SPR refill plan faces risks as DOE launches new request
  The Energy Department has issued a new solicitation to purchase up to 3 million barrels of US crude oil...
  The Energy Department has issued a new solicitation to purchase up to 3 million barrels of US crude oil for April delivery, with bid submission by Jan. 10. The department has added 13.8 million barrels of crude back to the Strategic Petroleum Reserve in the past year and intends to buy an additional 22 million barrels, but setbacks loom if rising tensions in the Middle East drive oil prices above the Biden administration's $79 per barrel limit.
  Read More

• Prev
• Next