US stock futures rise early Tuesday, attempting a comeback after data fired up concerns...
US stock futures rise early Tuesday, attempting a comeback after data fired up concerns the Fed could stick with its aggressive rate hikes at its meeting next week. Meanwhile, Charles Schwab's chief strategist says it's overly optimistic to believe that the Fed will move quickly between a pause and a pivot. Here are the latest market moves.
Earnings on deck: AutoZone Inc., Ashtead plc, and more, all reporting.
U.S. oil futures settle at lowest in more than a week
Oil futures fell on Monday, with U.S. prices settling at their lowest price in ...
Oil futures fell on Monday, with U.S. prices settling at their lowest price in more than a week. The Institute for Supply Management’s reading on U.S. service-sector business conditions rose to 56.5% in November, despite efforts by the Federal Reserve to ease inflation. “Continued Fed tightening can only reduce demand for oil,” said Manish Raj, chief financial officer at Velandera Energy Partners. Meanwhile, on the first day of trading after the European Union ban on Russian seaborne oil, Russian barrels are “flowing unabated with new Asian orders replacing the expiring European ones,” he said. U.S. benchmark WTI crudefor January delivery CLF23, fell $3.05, or 3.8%, to settle at $76.93 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since Nov. 25, FactSet data show.
Dow ends down nearly 500 points; S&P 500 suffers biggest drop in nearly a month
U.S. stock indexes posted their worst day in nearly a month on Monday as hotter-than-expected readings...
U.S. stock indexes posted their worst day in nearly a month on Monday as hotter-than-expected readings on the U.S. services sector fueled speculation that the Federal Reserve will hike interest rates more aggressively to subdue inflation. The Dow Jones Industrial Average DJIA, -1.40% finished 482 points lower, or 1.4%, to 33,947. The S&P 500 SPX, -1.79% dropped 1.8% to close below 4,000-level for the first time in nearly a week, while the Nasdaq Composite COMP, -1.93% slumped 1.9%. A barometer of U.S. business conditions at service-sector companies rose to 56.5% in November, a strong signal that the economy is still expanding at a steady pace but raising concerns that the central bank will continue hiking rate aggressively at its December 13-14 meeting. The yield on the 10-year note rose 9.6 basis points to 3.598% on Monday.
Report of ‘Secret’ Saudi Oil Production Deal Probed by House GOP
(Bloomberg) -- House Republicans announced a probe into reports of a failed...
(Bloomberg) -- House Republicans announced a probe into reports of a failed “secret deal to boost oil production” between Biden administration officials and Saudi Arabia, as the party prepares to take majority control of the chamber next year.
In a letter Sunday, Republicans on the House Committee on Oversight and Reform said they’re investigating allegations in a New York Times article in October that officials at the State Department and National Security Council sought a clandestine deal with Saudi Arabia to increase OPEC+ production before the US midterm elections in November. Instead, in August, OPEC+ announced it was slashing production, in a blow to President Joe Biden.
SandRidge Energy filed reports on the completion of three wells in Major County. Two...
SandRidge Energy filed reports on the completion of three wells in Major County. Two of the wells were drilled on a single pad and had production of nearly 600 barrels of oil a day.
The Harley 2014 2-18h, located at 18 20N 14W, a site 11 miles east of the town of Chester, produced 236 barrels of oil and 179 Mcf of natural gas a day when completed Aug. 27, of this year. The drilled depth was 17,678 feet, following a June spud date according to the completion report.
The second well, the Harley 2014 3-18h, produced 328 barrels of oil a day and 300 Mcf of natural gas from a drilled depth of 14,106 feet. The completionwas made July 2 of this year following spudding on April 27, 2022. Combined production for the two wells was 564 barrels of oil daily.
SandRidge’s third Major County well was the Penelope 2015 3-19h30h, completed August 27 of this year. Located at 30 20N 15W or about 5 miles southeast of Chester, the well had a depth of 17,678 feet and produced 181 barrels of oil and 400 Mcf of natural gas a day. The well was completed following a June 15 spudding. ~OkEnergyToday.com
