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.
Stocks close shortened Black Friday trading mostly lower, but the Dow did gain
U.S. stocks finished mixed on Friday with the Dow notching its...
U.S. stocks finished mixed on Friday with the Dow notching its highest close since April 21, while the S&P 500 index finished marginally lower, but held above the key 4,000 level.
Meanwhile, the Nasdaq Composite finished lower following back-to-back gains. All three major U.S. benchmarks finished the week with modest gains.
The S&P 500SPX finished down 1.1 points, or less than 0.1%, at 4,026.12.
The Dow Jones Industrial AverageDJIA closed 152.97 points, or 0.5%, higher at 34,347.03.
The Nasdaq CompositeCOMP shed 58.96 points, or 0.5%, to 11,226.36.
One of Russia’s biggest tech giants wants out of the country. Amid the ongoing invasion...
One of Russia’s biggest tech giants wants out of the country. Amid the ongoing invasion of Ukraine, Yandex — often referred to as Russia's Google — is looking to cut ties with the country, according to the New York Times. The exit could deliver a massive blow to Vladimir Putin. Read more here.
Biden Quietly Approved 2 Million Bpd Texas Oil Terminal
Despite its clear anti-oil stance, the Biden administration has just approved a new oil export...
Despite its clear anti-oil stance, the Biden administration has just approved a new oil export terminal for the Texas Gulf Coast, which will become the country’s biggest piece of oil export infrastructure.
While the new terminal will add some 2 million barrels per day of new export capacity, the news failed to garner much public attention and the project was green-lighted very quietly, according to the Texas Tribune.
Ghana plans to buy oil with gold instead of U.S. dollars
Ghana's government is working on a new policy to buy oil products...
Ghana's government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice-President Mahamudu Bawumia said on Thursday.
The move is meant to tackle dwindling foreign currency reserves coupled with the demand for dollars by oil importers, which is weakening the local cedi and increasing living costs.
The proposed policy is uncommon. While countries sometimes trade oil for other goods or commodities, such deals typically involve an oil-producing nation receiving non-oil goods rather than the opposite
