OklahomaMinerals.com

Snippets

• China GDP Declining
  The cost of things in China is at risk of decreasing, which is a nightmare scenario for the rest...
  The cost of things in China is at risk of decreasing, which is a nightmare scenario for the rest of us. The central bank has cut interest rates to initiate growth as China hopes to avoid deflation. But if that fails, the global economy could be in trouble.
  Read More
• Annual U.S. retail inflation rate in June was lowest in more than two years
  The numbers: U.S. consumer prices rose a modest 0.2% in June and the rate of inflation...
  The numbers: U.S. consumer prices rose a modest 0.2% in June and the rate of inflation slowed to the lowest level since 2021, but recent progress might not be enough to stop the Federal Reserve from raising interest rates soon.
  
  The increase in consumer prices last month was smaller than the 0.3% forecast of economists polled by the Wall Street Journal.
  
  The yearly rate of inflation decelerated to 3% from 4% in the prior month. The last time inflation was this low was in March 2021.
  Read More
• API Reports Build in Crude Oil Inventories
  The American Petroleum Institute (API) reported a 3.026 million...
  The American Petroleum Institute (API) reported a 3.026 million barrel build in United States crude oil inventories after falling by 4.382 million barrels in the week prior. It is believed that analysts were expecting a much smaller build of 200,000 barrels in U.S. crude-oil inventories.
  
  Distillate inventories rose by 2.908 million barrels, on top of the 604,000 barrel build in the week prior.
  
  Inventories in Cushing, Oklahoma, fell by 2.150 barrels, after rising 289,000 barrels in the previous week.
  Read More
• Closing Oil & Gas Prices for Tuesday
  Benchmark U.S. crude oil for August delivery...
  Benchmark U.S. crude oil for August delivery rose $1.84 to $74.83 a barrel Tuesday. Brent crude for September delivery rose $1.71 to $79.40 a barrel.
  
  Wholesale gasoline for August delivery rose 5 cents $2.62 a gallon. August heating oil rose 3 cents to $2.58 a gallon. August natural gas rose 6 cents to $2.73 per 1,000 cubic feet.
  
  
  Read More
• Dow finishes up 300 points as stocks rally ahead of inflation report
  Stocks scored back-to-back gains on Tuesday as investors waited on an inflation...

  Stocks scored back-to-back gains on Tuesday as investors waited on an inflation update due Wednesday from the June consumer-price index. The Dow Jones Industrial Average posted a near 317-point gain, advancing 0.9%, to end near 34,260, according to preliminary FactSet data. That marks its biggest daily percentage gain since June 15, according to FactSet. The S&P 500 index closed up 0.7%, while the Nasdaq Composite Index gained 0.6%.

  
  

  Stocks have been on the upswing ahead of a key inflation reading for June, with the consumer price index expected to show further progress in retreat from its peak above 9% last summer. The Federal Reserve has indicated it likely has a few more rate hikes on tap this year to help bring inflation down toward its 2% annual target. Investors also will be tuning into second-quarter earnings, which kick off in earnest later in the week with results from some of the nation’s biggest banks.

  Read More

• Prev
• Next