The energy sector is off to a slightly higher start, supported...
The energy sector is off to a slightly higher start, supported by an uptick in oil futures. Meanwhile, the major equity futures are mixed as Wall Street digests fresh earnings reports. Within energy, investors are digesting Q3 results from E&Ps and oilfield services.
Following three consecutive sessions of losses, WTI and Brent crude oil futures are edging higher as concerns over escalating tensions in the Middle East offset global demand worries related to the economic outlook in Europe. U.S. and Saudi Arabia leaders on Tuesday discussed efforts to prevent the conflict from widening to potentially include major oil producer Iran. Meanwhile, recent manufacturing and services activity data from Europe served as a reminder that a weak macroeconomic backdrop may potentially impact oil demand. Markets will also be keeping an eye out for EIA data due later this morning, as yesterday’s API figures showed a draw of 2.7 million barrels last week.
Natural gas futures are extending weekly gains on forecasts for cooler weather next week that should increase heating demand.
Chairman of Russia's Oil Major Lukoil Dies Suddenly Aged 66
Vladimir Nekrasov, the chairman of Russia's second-largest oil producer Lukoil, has died suddenly at...
Vladimir Nekrasov, the chairman of Russia's second-largest oil producer Lukoil, has died suddenly at the age of 66 after suffering acute heart failure, the company said on Oct. 24.
The previous head of Lukoil's board, Ravil Maganov, died in September 2022 after falling from a hospital window in Moscow, according to two sources familiar with the situation.
Several Russian businessmen, most with ties to the energy industry, have died suddenly in unclear circumstances in the months following the start of what Moscow calls its special military operation in Ukraine in February 2022.
The two tech giants reported big jumps in revenue, another sign that Big Tech’s growth has ...
The two tech giants reported big jumps in revenue, another sign that Big Tech’s growth has rebounded following last year’s downturn. Google parent Alphabet reported 11% revenue growth to about $77 billion for the third quarter, thanks mainly to increased advertising sales. Meanwhile, Microsoft’s revenue jumped 13% to $56.5 billion as AI created more demand for its products. Still, it wasn’t all rosy: Alphabet shares fell in extended trading after it missed on revenue estimates for its cloud division. Metareports its third-quarter earnings today, and Amazon posts tomorrow.
Historybook: Artist Pablo Picasso born (1881); Benjamin O. Davis Sr. became the first...
Historybook: Artist Pablo Picasso born (1881); Benjamin O. Davis Sr. became the first Black general in US Army (1940); Katy Perry born (1984); Hall of Fame golfer Payne Stewart died in a plane crash (1999).
The United Auto Workers union expanded its strike against the Big Three auto manufacturers yet again, this time hitting a large plant in Texas that builds GM’s profitable full-size SUVs.
The chairman of Russia’s second-biggest oil company died suddenly yesterday—the second time in a year that’s happened at Lukoil after its last chairman fell out of a hospital window.
Frontier Airlines overhauled its frequent flyer program, joining Delta and American in making rewards more dependent on how much you spend.
Panera Bread was sued by the family of a college student with a heart condition who died after drinking the chain’s Charged Lemonade, which contains more caffeine than a can of Monster and Red Bull combined.
The next Mission: Impossible movie was delayed by a year to 2025 due to the ongoing Hollywood actors strike, a huge blow to people who like watching Tom Cruise risk his life for our entertainment.
Strategic Petroleum Reserve (SPR) Near 40-Year Low
On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic...
On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) stayed the same for the third week in a row, with the SPR inventory still sitting at a near 40-year low of 351.3 million barrels, with total purchases for the SPR coming in at less than 4 million barrels since the Biden Administration began its buyback program.
