Mexico Tells Oil Giant Pemex ‘You’re on Your Own’ to Cover Debt Payments
(Bloomberg) -- Petroleos Mexicanos bonds tumbled to fresh lows as the state-owned oil giant prepares...
(Bloomberg) -- Petroleos Mexicanos bonds tumbled to fresh lows as the state-owned oil giant prepares to resume paying its own debt maturities, halting a government policy of covering its amortizations.
Pemex has the cash flow to make its debt payments, Mexico Finance Minister Rogelio Ramirez de la O said at an event in Washington on Thursday, confirming earlier reports.
“To the extent that they do have this cash flow and they can make the payments, they will be making their payments,” Ramirez said, adding that the government would be fully behind Pemex should the Covid-19 pandemic worsen again and the company needed its support.
Benchmark U.S. crude oil for June delivery fell...
Benchmark U.S. crude oil for June delivery fell $1.72 to $102.07 a barrel Friday. Brent crude for June delivery fell $1.68 to $106.65 a barrel.
Wholesale gasoline for May delivery fell 3 cents to $3.31 a gallon. May heating oil rose 4 cents to $3.94 a gallon. May natural gas fell 42 cents to $6.53 per 1,000 cubic feet.
Halliburton Co. fears it faces the Russian government's seizure of its $340 million in assets...
Halliburton Co. fears it faces the Russian government's seizure of its $340 million in assets in the country.
On Friday, the oilfield services company came out with a warning about the possible loss of its holdings in Russia after it suspended operations there following the start of Russia’s invasion of Ukraine reported Reuters.
Dow finishes nearly 1,000 points lower in worst day since October 2020
U.S. stocks fell sharply on Friday to suffer their biggest one-day drop since 2020,...
U.S. stocks fell sharply on Friday to suffer their biggest one-day drop since 2020, as investors continued to weigh hawkish comments on interest rates a day earlier by Federal Reserve Chairman Jerome Powell, as well as a fresh batch of corporate earnings that largely disappointed.
The Dow Jones Industrial Average DJIA fell 981.36 points, or 2.8%, to close at 33,811.40, after declining 1,019 points at its session low. The blue-chip gauge saw its steepest one-day percentage loss since Oct. 28, 2020.
The S&P 500 SPX dropped 121.88 points, or 2.8%, to end at 4,271.78.
The Nasdaq Composite COMP finished at 12,839.29 after a drop of 335.35 points, or 2.6%. The S&P 500 and Nasdaq each suffered their biggest one-day drops since March 7.
The Dow and S&P 500 on Friday posted their lowest finishes since March 15, while the Nasdaq closed at its lowest since March 14.
Friday's oil and natural gas prices take an early dip
After three straight days of gains, WTI and Brent crude oil futures eased...
After three straight days of gains, WTI and Brent crude oil futures eased this morning on the prospect of weaker global growth, higher interest rates and COVID-19 lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that would further tighten supply. The Russia-Kazakh Caspian Pipeline Consortium will resume full exports from April 22 after almost 30 days of disruptions following repairs on one of its key loading facilities, single port mooring 3. The CPC pipeline carries around 1.2 million barrels per day of Kazakhstan's main crude grade, light sour CPC Blend. The volume accounts for 1.2% of global demand.
Natural gas futures are trading lower as NOAA's 6-10 day forecast shows near- to above-normal temps across much of the southwestern and Southeasterm US, and central High Plains. Below-normal temps are seen for the Northwest, much of the Great Plains, Great Lakes and Northeast.
