The energy sector is off to a higher start, supported by strength in the crude complex...
The energy sector is off to a higher start, supported by strength in the crude complex and the major equity futures as investors attempt to extend November’s rally during the last week of the month.
WTI and Brent crude oil futures are adding to yesterday’s gains on tomorrow’s OPEC+ meeting, supply disruptions caused by a storm in the Black Sea, and on last night’s API print. OPEC+ is expected to decide 2024 oil policy tomorrow after the meeting had been delayed from November 26th. A severe storm in the Black Sea region has disrupted up to 2 million barrels per day (bpd) of oil exports from Kazakhstan and Russia, according to state officials and port agent data. Traders will also be gauging crude inventories as last night’s API data showed crude stocks fell 817K barrels, meanwhile, Reuters expects the total inventory figure to fall 933K barrels.
Natural gas futures are lower on the first day of trading for the January front-month contract amid a combination of warmer weather, weaker feed gas flows, and record production.
Hamas released a fifth group of hostages to the International Committee of the Red Cross yesterday as part of an extended two-day cease-fire deal between the militant group and Israel. Twelve hostages were released in exchange for Israel's release of 30 Palestinian prisoners. Since the pause in fighting began Friday, 180 Palestinian prisoners, 61 Israeli hostages, and 20 foreign national hostages have been released.
Before the opening bell: US stock futures rise early Wednesday as investors await data on gross domestic product and wholesale inventories.
Deutsche Bank says the S&P 500 will hit an all-time high in 2024. The bank’s strategists said they see the index hitting 5,100 points by the end of 2024, a 12% bump from its current level. It’s the latest firm to turn bullish on the stock market’s future.
The CBOE Volatility IndexVIX, a gauge of expected stock-market volatility over the coming 30 days, has been trading below the 13 mark since last Friday, when it closed at 12.46, its lowest finish since Jan. 17, 2020, according to Bespoke Investment Group.
Mark Cuban just showed everyone why he’s the shark with the sharpest teeth. The Cubes is selling his...
Mark Cuban just showed everyone why he’s the shark with the sharpest teeth. The Cubes is selling his majority stake in the NBA’s Dallas Mavericksto the casino tycoon Adelson family at a valuation of around $3.5 billion—while maintaining full control of basketball operations, per Shams Charania of The Athletic.
In 2000, Cuban purchased the team for $285 million.
Pair his Mavericks sale with recent news that Cuban is leaving Shark Tank after next season, and you might be thinking: “He’s running.” Well, prediction markets currently put a presidential campaign at 25%.
Google’s first-of-its-kind geothermal power plant is now up and running in Nevada.
The presidents of Harvard, MIT, and Penn will appear before Congress next week to address antisemitism on their campuses.
Virgin Atlantic flew the first transatlantic commercial flight using 100% sustainable fuel, from London to New York.
Rupert Murdoch was deposed yesterday as part of Smartmatic’s $2.7 billion defamation lawsuit against Fox News.
The Energy Department's Strategic Petroleum Reserve refill strategy, reliant on oil companies repaying...
The Energy Department's Strategic Petroleum Reserve refill strategy, reliant on oil companies repaying exchange barrels, is facing setbacks as oil companies gain US approval to defer the return of about 5 million borrowed barrels until 2024 and 2025. Meanwhile, disputes over price and quality are hindering the Energy Department's direct crude purchases for the reserve, leaving the nation vulnerable to supply disruptions.
