Trade shifts propel supertanker rates to 2-year high
The cost to charter an oil supertanker has surged to $50,682...
The cost to charter an oil supertanker has surged to $50,682 per day, the highest since June 2020, amid changing global crude oil trade patterns in the wake of Russia's invasion of Ukraine. "You have the disruption caused by the reorganization of European refineries importing non-Russian crude," said Okeanis Eco Tankers Corp. Chief Operating Officer Aristidis Alafouzos.
EIA: US natural gas rig count exceeds pre-pandemic levels
The number of active US natural gas rigs has increased from 112 in early 2020 to 166 as of Sept. 9, reversing...
The number of active US natural gas rigs has increased from 112 in early 2020 to 166 as of Sept. 9, reversing a downward trend observed before the coronavirus pandemic, according to the Energy Information Administration. The main driver of natural gas-directed drilling growth has been the Haynesville Shale, where the gas rig count has jumped by more than half between January 2020 and August 2022.
FedEx shares plunged more than 19% after the delivery giant ditched its earnings outoook. Often...
FedEx shares plunged more than 19% after the delivery giant ditched its earnings outoook. Often considered a bellweather stock, the sinking shipping brand fueled broader concerns of a looming downturn. Dig into the numbers here.
US stock futures moved lower early Friday as investors brace for aggressive Fed policy moves. Most...
US stock futures moved lower early Friday as investors brace for aggressive Fed policy moves. Most commentators are sounding the alarm that an unprecedented third consecutive outsized rate hike is not only on the table, but necessary. Here is your morning market wrap.
Earnings on deck: North Bud Farms, Cheetah Mobile, and Mogu Inc, all reporting.
