Fresh inflation data released Tuesday could make...
Fresh inflation data released Tuesday could make the Federal Reserve’s interest rate decision next week a fraught one: Price increases showed signs of remaining stubborn, which would usually call for higher rates, even as the turmoil sweeping the banking system spurs calls for caution.
Inflation cooled slightly on an annual basis, with the Consumer Price Index climbing 6 percent in the year through February. That was down from 6.4 percent in January, and matched the slowdown that economists expected.
Flared gas to power some of Riley Exploration's operations
In an effort to reduce operating costs, improve reliability and lower emissions, Riley Exploration Permian...
In an effort to reduce operating costs, improve reliability and lower emissions, Riley Exploration Permian has teamed up with Conduit Power to use captured flared natural gas for on-site electricity generation at its facilities in Yoakum County, Texas. The project will offer 20 megawatts of on-site generation upon its expected completion by late 2023 or early 2024.
Oil Prices Continue Slump in Fallout From SVB Shutdown
Oil prices dropped more than $2 a barrel on March 14, extending the previous day's slide, as the collapse...
Oil prices dropped more than $2 a barrel on March 14, extending the previous day's slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis.
Brent crude futures fell $1.64, or 2%, to $79.13 a barrel by 1001 GMT.
WTI crude futures dropped $1.74, or 2.3%, to $73.06 a barrel. On March 13, Brent and WTI fell to their lowest since early January and December, respectively. Oil prices dropped alongside a continued slide in equities markets.
Dow extends losing streak to fifth session amid bank volatility
U.S. stocks finished mostly lower on Monday, leaving Dow industrials with the fifth straight day of losses,...
U.S. stocks finished mostly lower on Monday, leaving Dow industrials with the fifth straight day of losses, as investors fretted over contagion risks even after regulators moved to inoculate the banking system from further runs on vulnerable financial institutions.
The Dow Jones Industrial Average DJIA finished down by 90.5 points, or 0.3%, at 31,819.14 in choppy trading.
The S&P 500 SPX ended down by 5.83 points, or 0.2%, at 3,855.76, for the third straight session of losses.
The Nasdaq Composite COMP closed up by 49.96 points, or 0.5%, at 11,188.84.
Last week, a selloff in bank stocks pulled down the broader market, leaving the S&P 500 with a 4.6% weekly decline and nearly wiping out the large-cap benchmark’s early 2023 gains. The Dow saw a 4.4% weekly fall, while the Nasdaq Composite declined 4.7%.
The energy sector is off to a lower start, pressured by weakness in the...
The energy sector is off to a lower start, pressured by weakness in the crude complex and in the major equity futures. U.S. stock futures are lower, dragged by pre-market losses in the Financial and Energy sectors, as the market digests a range of headlines. Investors are also bracing themselves for tomorrow’s Consumer Price Report which should provide more color on the Federal Reserve’s policy path.
Oil futures on both sides of the Atlantic are trading down ~5% in early trading, pressured by concerns over a fresh financial crisis following the fall of Silicon Valley Bank. Investors are also worried the Federal Reserve will continue to hike rates at a faster-than-expected pace amid a resilient economy and high crude oil inventories in the United States. Brent crude oil is trading near its January lows, while WTI touched prices not seen since early December. Rising optimism around Chinese demand recovery and weakness in the dollar are helping to cap losses.
Natural gas futures are slightly lower as forecasts suggest weather is expected to turn warmer in the near term.
