U.S. stock futures fall as Chinese protests rattle markets, oil hits 2022 low
U.S. stock-index futures sank Sunday night, as Asian markets...
U.S. stock-index futures sank Sunday night, as Asian markets fell following widespread public demonstrations in China and as oil prices hit a 2022 low.
Dow Jones Industrial Average futures YM00, -0.47% fell more than 150 points, or 0.5%, as of 10 p.m. Eastern, while S&P 500 futures ES00, -0.64% and Nasdaq-100 futures NQ00, -0.81% dropped even more sharply.
Oil prices fell sharply Sunday as well,as investors worried about slipping demand in China. West Texas Intermediate crude futures CL.1, -2.88% were last down more than 2%, at $74.27 a barrel, its lowest price year to date. Prices for Brent crude BRNF23, -2.79%, the international standard, sank as well.
U.S. gives green light🚦 to Chevron to pump oil in Venezuela
The U.S. federal government on Saturday granted petroleum company Chevron a limited license to resume...
The U.S. federal government on Saturday granted petroleum company Chevron a limited license to resume pumping oil in Venezuela, marking the potential first step in ending a years-long embargo of Venezuelan oil production by the United States.
In a press release, the Treasury Department said it had authorized Chevron to resume "natural resource extraction operations." The oil conglomerate is the last remaining American petroleum company in Venezuela but had been barred from pumping due to U.S. sanctions against the authoritarian government of Venezuelan President Nicolás Maduro.
Chevron may now resume activity in its oil fields alongside a joint venture with the Venezuelan national oil company, Petroleos de Venezuela SA.
The EU still won't buy Russian oil even with a price cap
The European Union won't purchase Russian oil regardless of...
The European Union won't purchase Russian oil regardless of a price cap,Energy Aspects' Amrita Sen said, addressing confusion in the market. Starting December 5, imports of seaborne Russian oil will not be allowed into the EU. In addition, EU-based companies will not be allowed to provide insurance and shipping services for Russian oil cargoes headed anywhere in the world.
But there's a misconception that EU countries can still import Russian oil as long as they adhere to the price cap.
"The reality is the embargo, which the EU is going ahead with on the 5th of December, supersedes the price cap. So the EU will still stop importing Russian oil regardless of the price cap," Sen said in an interview on Bloomberg TV Wednesday.
U.S. Rig Count Sees Small Increase In Thanksgiving Week
The number of total active drilling rigs in the United States...
The number of total active drilling rigs in the United States rose by 2 this week, according to new data from Baker Hughes published on Wednesday instead of Friday this week due to the Thanksgiving holiday.
The total rig count increased to 784 this week—215 rigs higher than the rig count this time in 2021, and 291 rigs lower than the rig count at the beginning of 2019, prior to the pandemic.
Oil rigs in the United States rose by 4 this week, to 627. Gas rigsdeclined by 2 to 155. Miscellaneous rigs stayed the same at 2.
The day after Thanksgiving Day, crude oil prices suffered a 2% drop over continuing worries about Chinese...
The day after Thanksgiving Day, crude oil prices suffered a 2% drop over continuing worries about Chinese demand and growing debate over the Western price cap of Russian oil.
West Texas Intermediate crudefor January delivery fell $1.66 or 2.13% a barrel to settle at $76.28 on the New York Mercantile Exchange.
Global benchmark Brent crude for January delivery dropped $1.71 or 2% to finish at $83.63 a barrel on ICE Futures Europe.
December natural gas fell nearly 4% or 29 cents to $7.02 per 1,000 cubic feet.
