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 crude complex but weakness in the broader equity futures is keeping a cap on sentiment. The major averages are set to open in negative territory following the release of U.S. jobs data that came in hotter than expected.
WTI and Brent crude oil are higher for the fourth-consecutive day amid concerns over tight supply just as a winter storm hits the United States. The drop in stockpiles as shown in yesterday’s EIA report comes as demand for heating oil is set to soar with a powerful winter storm hitting the United States. The storm is expected to bring sub-zero wind chills as far south as Texas and record-breaking forecast for Florida and the eastern states. In international news, Russian crude oil exports via the Transneft system - including pipelines and key outlets on the Baltic and Black seas as well as on the Pacific Ocean - might drop by 575,000 b/d in the first three months of 2023 compared to what was scheduled for the October-December period.
Natural gas futures slipped lower in early trading as forecasts for warmer weather over the next two weeks in key consuming regions outweigh concerns over the incoming winter storm.
Equinor Injects $3.7 Billion into its Energy Trading Business
Energy trader Danske Commodities has received a 3.5 billion euro ($3.7 billion) capital injection from...
Energy trader Danske Commodities has received a 3.5 billion euro ($3.7 billion) capital injection from parent company Equinor to boost liquidity and fund growth as it contends with highly volatile energy markets.
Soaring energy prices and extreme market volatility have forced multiple European utilities and traders to secure extra funds to cover margin call requirements.
"When prices go up, so does the size of margin calls on the energy exchanges," Danske Commodities' finance chief Jakob Sorensen said in a statement.
FTX founder Sam Bankman-Fried extradited to U.S. to face criminal charges
NASSAU, Bahamas — Bahamian authorities said Wednesday that former FTX CEO Sam Bankman-Fried has been...
NASSAU, Bahamas — Bahamian authorities said Wednesday that former FTX CEO Sam Bankman-Fried has been extradited to the United States, where he faces criminal charges related to the collapse of the cryptocurrency exchange.
Bahamas’ attorney general’s office said that Bankman-Fried would be leaving for the United States later Wednesday, noting he had waived his right to challenge the extradition.
Dow ends up over 500 points on strong earnings, rise in consumer confidence
U.S. stocks cemented their biggest daily advance in almost two...
U.S. stocks cemented their biggest daily advance in almost two weeks on Wednesday as investors reacted to optimistic earnings from Nike Inc. and FedEx Corp., along with a surprisingly strong reading on consumer confidence. The S&P 500 SPX gained 56.82 points, or 1.5%, to finish at 3,878.44, according to Dow Jones Market Data. The Nasdaq Composite COMP advanced 162.26 points, or 1.5%, to close at 10,709.37. The Dow Jones Industrial Average DJIA gained 526.74 points, or 1.6%, to finish at 33,376.48.
U.S. existing-home sales fall for a 10th straight month
The numbers: U.S. existing-home sales fell 7.7% to a seasonally adjusted annual rate...
The numbers: U.S. existing-home sales fell 7.7% to a seasonally adjusted annual rate of 4.09 million in November, the National Association of Realtors said Wednesday.
This is the 10th straight monthly decline in existing-home sales. The 10-month losing streak is the longest since NAR began tracking sales in 1999.
Economists polled by the Wall Street Journal were expecting existing-home sales to drop to 4.17 million. The last time existing-home sales fell to this level was in May 2020.
Outside of the pandemic,the level of sales activity was lowest since November 2010, while in the midst of the foreclosure crisis in the United States.
