🔥From Twitter: The American Petroleum Institute (API) reported a surprise build this week
The American Petroleum Institute (API)...
The American Petroleum Institute (API) reported a surprise build this week for crude oil of 1.080 million barrels, compared to analyst predictions of a 1.558 million barrel draw.https://t.co/UkGgdTgd9M
Crude oil prices fell slightly in Tuesday’s trading but remained above $100 a barrel...
Crude oil prices fell slightly in Tuesday’s trading but remained above $100 a barrel as analysts explained there are still growing worries that demand will be slowed by new coronavirus cases.
West Texas Intermediate crude fell $1.32 or 1.3% and settled at $101.96 on the New York Mercantile Exchange.
Global benchmark Brent futures dropped 89 cents or 0.8% and closed at $106.64 a barrel on ICE Futures Europe.
At one point, prices increased by more than $2 barrel after the International Energy Agency indicated there were still discussions of a coordinated release of oil reserves.
Nasdaq drops 2.3% as stocks end sharply lower after remarks by Fed's Brainard
Stocks fell sharply Tuesday, with the tech-heavy Nasdaq Composite leading the way among major...
Stocks fell sharply Tuesday, with the tech-heavy Nasdaq Composite leading the way among major indexes after remarks by Federal Reserve Gov. Lael Brainard sparked a jump in Treasury yields. The Dow Jones Industrial Average DJIA, -0.80% fell around 280 points, or 0.8%, to close near 34,642, according to preliminary figures, while the S&P 500 SPX, -1.26% dropped 57 points, or 1.3%, o finish near 4,525. The Nasdaq COMP, -2.26% gave up around 328 points, or 2.3%, finishing near 14,204. Brainard, in a speech, said the Fed will "continue tightening monetary policy methodically through a series of interest rate increases and by starting to reduce the balance sheet at a rapid pace as soon as our May meeting." The 10-year Treasury yield TMUBMUSD10Y, 2.560% jumped 14.5 basis points to 2.554. Yields and debt prices move opposite each other.
The energy sector is set to extend yesterday’s gains into today’s session, backed by further support...
The energy sector is set to extend yesterday’s gains into today’s session, backed by further support in the underlying commodities but sector news is thin and trading levels are again expected to be muted. Major equity futures meanwhile came under pressure as the prospect of fresh sanctions on Russia kept investors on edge, keeping a cap on the upside.
WTI and Brent crude oil futures are up over 1% in early trading, rising as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran's nuclear talks with world powers stalled. The end of the refinery maintenance period in Europe also lent some support to oil prices this morning. The West is planning new sanctions against Russia over civilian killings in Ukraine, with U.S President Joe Biden's national security adviser saying that new U.S. sanctions against Moscow would be announced this week. Despite stalled talks, the US still believes there is an opportunity to overcome the remaining differences with Iran in talks over its nuclear program.
