EIA: Texas, N.D. lead US oil production growth in Jan.
The Energy Information Administration has reported that US crude oil production reached 12.46 million...
The Energy Information Administration has reported that US crude oil production reached 12.46 million barrels per day in January, a level not seen since March 2020, with Texas and North Dakota leading the increase. Meanwhile, gross natural gas production in the contiguous US rose to 112.3 Bcf/d, the highest since November, fueled by gains in Pennsylvania and Texas.
Spring holidays: Kitchens all over the world are going to smell really good this week...
Spring holidays: Kitchens all over the world are going to smell really good this week because Passover starts Wednesday night, and Easter is on Sunday. The stock market will be closed for Good Friday.
Everything else…
McDonald’s is temporarily closing its offices this week ahead of expected corporate layoffs, the WSJ reports.
Today, NASA will reveal the four astronauts selected to take a trip around the moon for the Artemis 2 mission. It’s slated for November 2024 at the earliest.
The Masters tees off in Augusta, GA, on Thursday. Tiger Woods will be competing.
Following his indictment last week, former President Trump is expected to turn himself into authorities...
Following his indictment last week, former President Trump is expected to turn himself into authorities on Tuesday in lower Manhattan. He’ll be fingerprinted and have his mug shot taken, but he isn’t expected to be handcuffed or led on a “perp walk.” We’ll also learn the specific charges filed against him, which for now remain under seal.
Oil prices spiked late Sunday after Saudi Arabia led a surprise...
Oil prices spiked late Sunday after Saudi Arabia led a surprise oil production cutacross several OPEC+ nations that will remove more than 1 million barrels of oil a day from May.
In an announcement on Sunday, Saudi Arabia’s Ministry of Energy stated that the kingdom will implement a voluntary cut of 500,000 barrels a day from May until the end of 2023, in conjunction with other countries.
News of the production cuts sent prices soaring late Sunday. Front-month West Texas Intermediate crude for May delivery CL.1, 6.03% topped $80 a barrel while Brent crude BRN00, 6.00%, the global benchmark, surpassed $85 a barrel.
Market Snapshot: This signal for U.S. stocks bodes well for a rally as some stability returns to the banking sector
The U.S. stock market has been flashing an important signal that suggests concerns about the banking...
The U.S. stock market has been flashing an important signal that suggests concerns about the banking sector have dissipated after the sudden collapse of Silicon Valley Bank earlier in March.
The CBOE Volatility IndexVIX, -1.68%, a gauge of expected volatility in the S&P 500 index, dropped below the 20 level last week for the first time since March 8, suggesting a return to a lower risk environment that prevailed before Silicon Valley Bank first announced it had to sell securities to strengthen its deteriorating financial position.
The index, often referred to as Wall Street’s “fear gauge,”was down 1.7% at 18.70 on Friday after rising above 30 on March 13, the first trading day after regulators announced emergency measures to stem the fallout from Silicon Valley Bank’s failure.
