Pelosi to step down as top Democrat in Congress. House Speaker Nancy Pelosi said she...
Pelosi to step down as top Democrat in Congress. House Speaker Nancy Pelosi said she will not seek a leadership position in the next Congress after nearly two decades serving as the party’s head honcho. Pelosi is a monumental figure on Capitol Hill: She was the first woman to become the Speaker of the House (in 2007) and she helped pass landmark legislation such as the Wall Street rescue plan during the financial crisis and trillions of dollars worth of stimulus during the Covid pandemic. She’s not leaving DC completely, though—she plans to continue representing San Francisco in Congress.
Elon Musk’s takeover of Twitter proves that the modern CEO job is broken. Ed Zitron,...
Elon Musk’s takeover of Twitter proves that the modern CEO job is broken. Ed Zitron, the CEO of a boutique public relations firm, writes that these head honchos have turned into chief hypocrisy officers. Instead of contributing to the company on a meaningful level, they’re juggling other business ventures, sitting on boards, and pursuing side projects — while refusing to allow employees to do the same. Check out his take here.
Saudi Arabia Slashes Oil Exports By 430,000 Bpd As OPEC+ Cuts Output
The world’s largest crude oil exporter, Saudi Arabia, has started to slash its crude exports after...
The world’s largest crude oil exporter, Saudi Arabia, has started to slash its crude exports after OPEC+ is now reducing its overall target production by 2 million barrels per day (bpd).
Initial tracking and estimates suggest that so far in November, Saudi Arabia has reduced its crude oil exports by more than 400,000 bpd, while exports from OPEC could be on course to drop by 1 million bpd, Bloomberg reported on Thursday, citing oil flow tracking data.
So far in November, Saudi Arabia’s oil shipments have dropped by 430,000 bpd, according to data from Kpler cited by Bloomberg. Petro-Logistics estimates that OPEC crude oil shipments are set for a 1-million-bpd drop.
U.S. stocks ended lower on Thursday to log their first back-to-back losses in two weeks after two senior...
U.S. stocks ended lower on Thursday to log their first back-to-back losses in two weeks after two senior Federal Reserve officials said the central bank’s benchmark interest rate may need to rise higher than earlier anticipated to subdue inflation.
The S&P 500 SPX, -0.31% fell 12.23 points, or 0.3%, ending at 3,946.56.
The Dow Jones Industrial AverageDJIA, -0.02% shed 7.51 points, or less than 0.1%, to finish at 33,546.32, after falling as much as 314 points in the morning session.
The Nasdaq CompositeCOMP, -3.91% declined 38.70 points, or 0.4%, to end at 11,144.96.
U.S. oil prices settle at their lowest since late September
Oil futures on Thursday tallied back-to-back declines, with U.S....
Oil futures on Thursday tallied back-to-back declines, with U.S. prices ending at their lowest since late September, as China’s zero-COVID policy continued to dull the outlook for energy demand.
Natural-gas futures bucked the downtrend for the energy sector, finishing higher as U.S. government data showed a weekly increase in domestic supplies that generally met with market expectations.
West Texas Intermediate crude for Decemberdelivery CL.1 fell $3.95, or 4.6%, to settle at $81.64 a barrel on the New York Mercantile Exchange. Prices marked the lowest settlement for a front-month contract since Sept. 30, according to Dow Jones Market Data.
January Brent crudeBRN00, declined by $3.08, or 3.3%, to $89.78 a barrel on ICE Futures Europe, settling at the lowest since Oct. 3.
December gasolineRBZ22, lost 2.1% to $2.4547 a gallon, while December heating oil HOZ22, settled at $3.5248 a gallon, down 2.5%.
December natural gasNG00, rose 2.7% at $6.369 per million British thermal units, extending a nearly 2.8% gain from a day earlier.
