The energy sector is set for a higher start supported by strength in the underlying commodities...
The energy sector is set for a higher start supported by strength in the underlying commodities while US markets are expected to open lower on weakness in the major equity futures. U.S. stock index futures edged lower giving back some of the gains from yesterday’s mega-cap fueled rally on Wall Street, as investors assessed the outlook for U.S. interest rates following calls from Federal Reserve policymakers suggesting a more hawkish Fed.
WTI and Brent crude oil futures are higher in early trading supported by disruption of Russian and Kazakh crude exports via the Caspian Pipeline Consortium terminal. Crude oil exports from Kazakhstan's CPC pipeline on Russia's Black Sea coast stopped fully on Wednesday after damage caused by a major storm. Russian Deputy Prime Minister Alexander Novak said that oil supplies by the CPC, which ships around 1.2 million barrels per day, may be completely stopped for up to two months due to damaged berths at a Black Sea terminal. As for the ongoing geopolitical tensions in Eastern Europe, U.S. President Joe Biden is set to announce more Russian sanctions when he meets with European leaders on Thursday in Brussels, including an emergency meeting of NATO.
Russian stocks set to open for trading for first time since Ukraine invasion
The Central Bank of Russia said stock market trading will resume on Thursday for the...
The Central Bank of Russia said stock market trading will resume on Thursday for the first time since the country invaded Ukraine, triggering crippling economic sanctions from the West. Trading in 33 companies in the Moscow Exchange Index will be permitted from 9:50 to 14:00 Moscow time. There will be a ban on short sales for these securities. Overseas listings of Russian securities plummeted in value after the invasion.
U.S. stocks finish higher as Nasdaq leads way with roughly 2% gain
Stocks ended higher Tuesday, finding their footing a day after the Dow Jones Industrial Average...
Stocks ended higher Tuesday, finding their footing a day after the Dow Jones Industrial Average snapped a five-day winning streak following hawkish comments by Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average DJIA, 0.74% finished around 255 points higher, up 0.7%, near 34,807, according to preliminary figures, while the S&P 500 SPX, 1.13% rose around 50 points, or 1.1%, to close near 4,512. The Nasdaq Composite COMP, 1.95% ended near 14,109, jumping 2%. Powell on Monday said the Fed could hike rates in half-point increments at future meetings if deemed necessary to rein in inflation.
LA county, America's largest, sees gas prices hit record high
Los Angeles County saw a new record in average gas prices on Tuesday as the price of...
Los Angeles County saw a new record in average gas prices on Tuesday as the price of crude oil remains over $100 a barrel, signaling the cost to fill up at the pump won't be easing soon enough for drivers.
The average price for the largest U.S. county by population rose 2.3 cents to $6.011 — nearly 17 cents more expensive than it was a week ago, $1.224 higher than one month ago, and $2.085 greater than one year ago, according to figures from the American Automobile Association.
California has the highest fuel prices in the country, partially due to the higher taxes for environmental regulations and infrastructure. Governor Gavin Newsom pledged financial relief to try to help people during the rising gas prices.
Rockcliff Energy LLC, a private equity-backed natural gas explorer, has been speaking with advisers as it evaluates takeover interest from rival U.S. shale drillers, people with knowledge of the matter said. The Houston-based company could seek $4 billion or more in a sale, the people said. Deliberations are at an early stage, and there’s no certainty Rockcliff will conclude any transaction, according to the people who requested anonymity because the information isn’t public.Representatives for Rockcliff and its Houston-based backer Quantum Energy Partners didn’t immediately respond to requests for comment.
Founded in 2015, the company pumps the daily equivalent of more than 1 billion cubic feet of gas from the Haynesville Shalein East Texas. Last week, its Quantum affiliate Trace Midstream agreed to sell gas gathering and processing assets to Williams Cos. for $950 million.
