Oil stable after unexpected draw in US crude inventories
Singapore — Oil prices steadied on Wednesday as industry data showed an unexpected draw in US crude...
Singapore — Oil prices steadied on Wednesday as industry data showed an unexpected draw in US crude oil inventories after the market tumbled in the previous session on fears that more aggressive US rate hikes would hit demand.
Brent crude futures rose 18c, or 0.2%, to $83.47 a barrel by 4.52 am GMT, while US West Texas Intermediate (WTI) crude futures gained 4c to $77.62 a barrel.
Data from the American Petroleum Institute (API) showed US crude inventories fell by about 3.8 million barrels in the week ended March 3. The drawdown defied forecasts for a 400,000-barrel rise in crude stocks from nine analysts polled by Reuters.
However, near-term drivers pointed towards a more bearish outlook as investors braced for steeper US rate hikes.
US stock futures struggle to push higher early Wednesday, after...
US stock futures struggle to push higher early Wednesday, after tumbling yesterday thanks to the prospect of more hikes. Powell will be speaking again today, this time before a House committee. Here are the latest market moves.
Earnings on deck: Adidas, Admiral Group, and more, all reporting.
The man who founded Love’s Travel Stops & Country Stores, Tom Love died this week....
The man who founded Love’s Travel Stops & Country Stores, Tom Love died this week. He was 85 and the nationwide firm he started in 1964 released a statement confirming his death.
Tom is survived by his wife, Judy, of 62 years, his children: Frank, Greg, Jenny and Laura, nine grandchildren and two great-grandchildren, with two more on the way.
Love’s remains a privately owned company headquartered in Oklahoma City. The chain involves more than 600 truck stops and convenience stores in 42 states across the nation.
