The energy sector is off to a higher start, supported by strength in the...
The energy sector is off to a higher start, supported by strength in the underlying commodities and the major equity futures. U.S. equity futures are trading up as investors await another round of earnings from big U.S. banks and on easing bets of a more aggressive Federal Reserve.
WTI and Brent crude oil are trading higher on a weaker dollar and tight supply which overshadowed recession concerns and the potential of widespread COVID-19 restrictions in China. Last week, oil futures on both sides of the Atlantic recorded their biggest weekly declines for about a month on fears that a recession and the spread of the new highly transmissible subvariant of COVID-19 in China, would put a dent in oil demand. The U.S. dollar retreated from multi-year highs this morning, increasing investor interest in commodities such as gold and oil. Over the weekend, U.S. President Joe Biden told Arab leaders that the U.S. would remain an active partner in the Middle East, but he failed to secure commitments to boost oil supply. Markets are focused this week on the resumption of Russian gas flows to Europe via the Nord Stream 1 pipeline which investors worry may be delayed due to the ongoing war in Ukraine.
Natural gas futures rose this morning on warmer weather forecasts in key consuming regions that should spur more demand.
Eyes on the skies: One of the biggest events in the aerospace industry, the ...
Eyes on the skies: One of the biggest events in the aerospace industry, the Farnborough Airshow, returns after a four-year absence. Heavyweight rivals Boeing and Airbus will try to one-up each other with order announcements.
Earnings: How did companies handle soaring inflation and jittery consumers in Q2? We’re beginning to find out as earnings season picks up the pace. Bank of America, Goldman Sachs, J&J, Netflix, Tesla, and United Airlines are among the big names reporting this week.
MLB All-Star Game: One of America’s greatest traditions, the Home Run Derby, will take place tonight at Dodger Stadium, followed by the All-Star Game tomorrow night.
Everything else:
The contempt of Congress trial for former Trump strategist Steve Bannon begins today.
The Gray Mandrops on Netflix and in a limited number of theaters.
Shark Week starts on Sunday. For some beachgoers on Long Island, it’s been Shark Week for a while.
LONDON (Reuters) -Oil prices extended gains on Monday, boosted by a weaker dollar and tight supplies...
LONDON (Reuters) -Oil prices extended gains on Monday, boosted by a weaker dollar and tight supplies as concerns over gas supply from Russia mounted, offsetting demand fears brought on by a possible recession and China lockdowns.
Brent crude futures for September settlement rose by $2.34, or 2.3%, to $103.50 a barrel by 1235 GMT, having gained 2.1% on Friday.
U.S. West Texas Intermediate (WTI) crude futures for August delivery were up $1.89, or 1.9%, at $99.48 after rising by 1.9% in the previous session
