The energy sector is off to a mixed to higher start, supported by mild...
The energy sector is off to a mixed to higher start, supported by mild strength in the underlying commodities while major equity futures steadied as traders turned their attention to a meeting between congressional leaders and the President on the U.S. debt ceiling and digested lackluster results from Home Depot.
WTI and Brent crude oil futures inched higher this morning, supported by higher global demand forecasts from the IEA which outweighed weaker-than-expected economic data of out China. The IEA raised its forecast for global oil demand this year by 200,000 bpd to a record 102 million bpd commenting China's recovery after the lifting of COVID-19 curbs had surpassed expectations, with demand reaching a record 16 million bpd in March.
Natural gas futures continue to build on yesterday’s 4.8% rally, lifted by lingering concerns over a decline in future production after data last week showed energy companies had cut down on the number of rigs for drilling gas.
NOG Joins Vital Energy in $540 Million Delaware Deal
Northern Oil and Gas Inc. is partnering with Vital Energy Inc. on an acquisition in the Permian...
Northern Oil and Gas Inc. is partnering with Vital Energy Inc. on an acquisition in the Permian Basin.
Minnesota-based Northern Oil and Gas, or NOG, and Oklahoma-based Vital Energyhave jointly agreed to acquire Forge Energy II Delaware LLC’s assets in the Delaware Basin.
Under the terms of the agreement, Vital will purchase 70% of Forge’s assets for $378 million. NOG will acquire a 30% undivided stake in the Forge assets for a purchase price of $162 million in cash, the company said after markets closed on May 15.
US stock futures fall early Tuesday, as investors brace for a meeting between congressional...
US stock futures fall early Tuesday, as investors brace for a meeting between congressional leaders and President Joe Biden over the debt ceiling. Check out the latest market moves.
Earnings on deck: Home Depot, Ubisoft Entertainment, and more, all reporting.
Big firms are filing for bankruptcy left and right — and it's just the beginning
On Monday, Vice Media — once valued at nearly $6 billion — ...
On Monday, Vice Media — once valued at nearly $6 billion — filed for bankruptcy. But it wasn’t alone. In the space of just 48 hours, six other large companies threw in the towel, which by one measure marked the most active period for bankruptcies since 2008.
Why are so many companies filing for bankruptcy? The reason is relatively simple: the Federal Reserve's interest-rate hikes, which were designed to rein in inflation, have laid bare the market's weak hands.
A credit crunch is here, and it's spreading quickly, crippling companies with large, cumbersome debt loads — and data suggests the pain could just be getting underway.
The numbers: Sales at U.S. retailers rebounded 0.4% in April largely because of strong...
The numbers: Sales at U.S. retailers rebounded 0.4% in April largely because of strong demand for new autos and higher consumer spending online, offering a respite from a broad slowdown in consumer spending. Sales had been forecast to rise 0.8%, based on a Wall Street Journal poll of economists.
Retail sales are a big part of consumer spending and offer clues about the strength of the economy. Before April’s increase, retail sales had fallen in four of the prior five months.
Retail sales rose a somewhat stronger 0.6% in April if auto dealers and gas stations are excluded. Car and gasoline purchases exaggerate overall retail spending.
Key details: Sales of new vehicles and auto parts, an up-and-down category, rose 0.4% last month.
