Containers full of frozen food and chemicals are piling up at China’s biggest port in Shanghai...
Containers full of frozen food and chemicals are piling up at China’s biggest port in Shanghai as a Covid lockdown in the city and compulsory virus testing means truckers can’t get to the docks to pick up boxes. While the port is operating normally, there are a “critically high” number of refrigerated containers and items classified as dangerous goods piled up at two storage yards, meaning some ships carrying those types of cargo may not be able to unload any more boxes at the port, Ocean Network Express said. Read the story here.
A strategy chief shared why a recession that causes stocks to fall 25% from their highs could be on the way. Merion Capital Group's Richard Farr said a big hit to the market could come within three to four months. He shared four ways to bolster your portfolio ahead of the fallout.
Energy stocks have soared — but there's still more upside ahead
That's according to ...
That's according to Bank of America analysts, who said valuations are still attractive even after the sector has seen a 38% rally year-to-date.
The researchers describe energy as the "pain trade," which refers to a directional bet that most investors have taken that ends up going the other way. In this case, investors betting that the energy rally has run out of steam are wrong, and there are more gains coming.
There are a few reasons why Bank of America is still bullish on energy through the rest of 2022:
The Ukraine war has made policy makers recognize the importance of domestic energy production and energy security.
The allocation of energy in the S&P 500 has doubled since 2020, and could rise further.
Cash yield will rise, and energy companies are expected to generate inflation-proof free cash flow yield of 15% this year.
US energy firms, European officials meet in Houston
Executives of US shale gas and liquefied natural gas companies,...
Executives of US shale gas and liquefied natural gas companies, including EQT Corp, Chesapeake Energy and EOG Resources, discussed options to increase US energy exports to Europe at a Wednesday meeting in Houston with officials from the UK, France, Germany, Bulgaria and other European countries. LNG export capacity will be limited in 2022, "but the opportunities in a few years are really terrific," said Fred Hutchison, CEO of trade group LNG Allies.
State regulators have modified the way Oklahoma storage tank owners and operators are to pay for tank...
State regulators have modified the way Oklahoma storage tank owners and operators are to pay for tank permit fees. Instead of accepting fees at the facility, Petroleum Storage Tank Division employees will accept credit cards and electronic payments.
