Shell PLC shares hit a record high as rising energy prices and the new chief...
Shell PLC shareshit a record high as rising energy prices and the new chief executive’s stronger focus on the core oil and gas business attracted investors.
Shares of the company rose as high as 2,763 pence in London today, marking a threefold increase from the pandemic-era low of 878.3 pence three years ago.
The rally in Shell shares has been driven by higher commodity prices, particularly for natural gas in Europe, “and the strategic changes announced by the new CEO in June, which is likely drawing in more investors,” said Morningstar analyst Allen Good.
S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +24.00. The S&P 500 futures...
S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +24.00.
The S&P 500 futures are up 13 points and are trading 0.3% above fair value. The Nasdaq 100 futures are up 24 points and are trading 0.2% above fair value. The Dow Jones Industrial Average futures are up 163 points and are trading 0.5% above fair value.
The Empire State Manufacturing index fell to -4.6 in October (Briefing.com consensus -4.0%) from 1.9 in September.
The 2-yr note yield is unchanged from Friday at 5.05% and the 10-yr note yield is up four basis points to 4.67%.
Killers of the Flower Moon hits theaters:The much-anticipated film opens for wide release on Friday and brings Oscar buzz with it. Based on the 2017 best-selling novel of the same name, the film stars Leonardo DiCaprio and Robert De Niro and is directed by superhero movie enthusiast Martin Scorsese. The plot centers around the murders of members of the Osage Tribe in Oklahoma after oil was discovered on tribal land.
The World Series draws closer, and the ALCS and NLCS will both be in full swing today. In the American League, it’s a battle of Texas with the Rangers taking on the Astros. In the National League, the Diamondbacks face the Phillies, who could be eight wins away from sending the country into a recession.
Fewer wells were drilled offshore the U.K. in 2022 than in years past, according to the ...
Fewer wells were drilled offshore the U.K. in 2022 than in years past, according to the Wells Insight Report 2023 published by the North Sea Transition Authority (NSTA) on Oct. 12.
According to the report, a dozen E&A wells are forecast to be drilled in 2023, while 17 are expected in 2024.
There were 48 development wells spudded in 2022, down from 62 in 2021 and 73 in 2020. For comparison, in 2001, there were 291 development wells drilled, along with 41 appraisal wells and 27 exploration wells.
Mortgage bankers expect the 30-year rate to drop to 6.1% by the end of 2024
High mortgage rates are hammering home buyers, but expect rates to fall over the next year, one industry...
High mortgage rates are hammering home buyers, but expect rates to fall over the next year, one industry group says.
Mortgage rates are over 7.5% as of mid-October, but expect rates to fall to 6.1% by the end of 2024, according to a forecast by the Mortgage Bankers Association. The group also expects the 30-year mortgage rate to fall to 5.5% by the end of 2025.
The pandemic years were boom times for the mortgage industry. 2021 was a record year when $4.4 trillion in mortgages were originated. But after the Fed began hiking interest rates in the middle of 2022, surging rates have put a damper on home-buying activity.
