Oil prices finish lower after weak economic data from China
Oil futures finished lower on Monday, with U.S. and global benchmark prices posting their first declines...
Oil futures finished lower on Monday, with U.S. and global benchmark prices posting their first declines in six sessions, as economic data from China raised worries about demand from the world’s largest crude importer. Prices had seen a sharp climb last week on the back of an OPEC+ decision to reduce production.
West Texas Intermediate crude for November delivery CL.1, -2.18% $1.51, or 1.6%, to settle at $91.13 a barrel on the New York Mercantile Exchange. The front-month U.S. benchmark contract rose over 16% last week following a 4.7% gain on Friday.
December Brent crudeBRN00, -0.57% the global benchmark, declined by $1.73, or 1.8%, to $96.19 a barrel on ICE Futures Europe.
Back on Nymex, November gasolineRBX22, -4.85% fell 4.1% to $2.6228 a gallon, while November heating oil HOX22, -3.87% lost 2.6% to $3.9147 a gallon.
November natural gasNGX22, -3.53% fell 4.6% to $6.435 per million British thermal units.
U.S. stocks close lower as Nasdaq finishes at 2-year low
U.S. stocks finished lower on Monday as all three major indexes...
U.S. stocks finished lower on Monday as all three major indexes fell for the fourth straight session and the Nasdaq Composite saw its lowest close in more than two years. The S&P 500 SPX, -0.75% closed 27.27 points, or 0.8%, lower at 3,612.39. The Dow Jones Industrial Average DJIA, -0.32% finished 93.91 points, or 0.3%, lower at 29,202.88. The Nasdaq Composite COMP, -1.04% closed 110.30 points, or 1%, lower at 10,542.10, its lowest closing level since July 28, 2020, according to Dow Jones Market Data.
Exxon Mobil Reportedly Considers Buying Plano, Texas-Based Denbury
Oil major Exxon Mobil Corp. is considering acquiring Denbury Inc., Bloomberg News reported on Oct. 10,...
Oil major Exxon Mobil Corp. is considering acquiring Denbury Inc., Bloomberg News reported on Oct. 10, citing people familiar with the matter.
Shares of Plano, Texas-based energy company Denbury rose 8% on the report.
Exxon Mobil has expressed preliminary interest in Denbury, but no final decision has been made, the report said, adding the oil major could opt against proceeding with a potential deal. Denbury was exploring options including a sale, Bloomberg reported in August.
Bridge Over Troubled Waters: The Kerch Bridge Explosion
Just hours after Vladimir Putin blew out the candles on his 70th birthday cake, the Ukrainians gave him...
Just hours after Vladimir Putin blew out the candles on his 70th birthday cake, the Ukrainians gave him something he certainly didn’t wish for: a stunning attack on his beloved Kerch Bridge, which connects the Russian mainland to the Russian-occupied Crimean Peninsula.
Why it matters: The Kerch Bridge explosion is a significant blow to Russia both tactically and symbolically. On the tactical side, it will disrupt key transportation flows that supply Russia’s military in southern Ukraine. On the symbolic side, it’s another public embarrassment to Putin, who viewed the infrastructure project as a major step in his attempt to rebuild the Russian empire. Putin himself opened the bridge in 2018 by driving a truck across it.
Inflation data is incoming. Thursday’s consumer price index release will show how...
Inflation data is incoming. Thursday’s consumer price index release will show how much we got clobbered by inflation in September. Last month, inflation came in hotter than expected, leading to a market rout. Economists hope to see some cooling in “core CPI,” which strips out food and gas prices, this time around.
