Oil Traders Wary as Gasoline Demand Shows Signs of Cracking
One of the oil market’s most controversial data points of recent...
One of the oil market’s most controversial data points of recent years — a measure of how much gasoline Americans consume — is pointing to a crash in demand that’s concerning traders the world over.
On Wednesday last week, the market’s most-watched measure for consumption of fuel in the US tumbled to the lowest for the time of year in a quarter of a century. Since the summer’s peak, it points to a decline of 1 million barrels a day. New York-traded futures, the global benchmark, plunged by 6.9%, one of several catalysts for oil’s biggest one-day rout in a year that day. READ MORE
Investors will be focused on the outbreak of war in Israel and Gaza, which could lead to volatility in...
Investors will be focused on the outbreak of war in Israel and Gaza, which could lead to volatility in global stock markets and oil prices, depending on the escalation of the conflict. US oil futures jumped as much as 5.4% last night. Later in the week, the consumer price index report will give an update on the Fed’s fight against inflation.
The U.S. stock market will be open on Monday, Oct. 9, for Columbus Day and Indigenous Peoples Day, but the bond market won’t be which is perhaps more significant for Wall Street.
Futures are down.Dow Jones Industrial Average futures YM00 fell about 200 points, or 0.7%, right out of the gate Sunday and are now down 175 points on Monday morning, while S&P 500 futures ES00 and Nasdaq-100 futures NQ00 sank as well. Traditional havens such as gold GC00, 0.99% and the U.S. dollar DXY rose.
Russia ended a diesel export ban Friday weeks after the government...
Russia ended a diesel export ban Friday weeks after the government ordered energy companies to halt all fuel exports indefinitely in a bid to combat domestic shortages.
The decision to allow diesel piped to sea port terminals to be exported was on the condition that supplier companies reserve at least half of the diesel they produce for the domestic market, the Kremlin said.
Netanyahu says Israel is ‘at war’ as Palestinian militants launch surprise air and ground attack from Gaza
Israel’s Prime Minister Benjamin Netanyahu declared that the country was ...
Israel’s Prime Minister Benjamin Netanyahu declared that the country was “at war” on Saturday after Palestinian militants in Gaza fired a deadly barrage of rockets and sent gunmen into Israeli territory in a major escalation of the long running conflict between the two sides.
The early-morning surprise attack has left at least 22 people dead and over 250 injured, according to Israel’s Magen David Adom (MDA) emergency rescue service. It comes on the 50th anniversary of the 1973 War in which Arab states blitzed Israel on Yom Kippur, the holiest day of the Jewish calendar.
The U.S. economy added 336,000 jobs in September, the Labor Department said. Economists polled by Dow Jones expected 170,000 jobs. To be sure, wages rose less than expected last month.
