Dow books worst week in a month, U.S. stocks close lower after a weekly rise in Treasury yields and oil prices
U.S. stocks ended down on Friday, booking their worst week in...
U.S. stocks ended down on Friday, booking their worst week in a month after a rise in Treasury yields as well as higher oil prices amid worries over the war in the Middle East.
The Dow Jones Industrial AverageDJIA fell 286.89 points, or 0.9%, to close at 33,127.28.
The S&P 500SPX shed 53.84 points, or 1.3%, to finish at 4,224.16.
The Nasdaq CompositeCOMP dropped 202.37 points, or 1.5%, to end at 12,983.81.
For the week, the Dow fell 1.6%, the S&P 500 declined 2.4% and the Nasdaqsank 3.2%. The tech-heavy Nasdaq logged back-to-back weekly losses, while the S&P 500 snapped two straight weeks of gains, according to Dow Jones Market Data. All three benchmarks booked their largest percentage weekly drops since the week ending Sept. 22.
Active hurricane season has minimal impact on US oil, gas
Despite above-average hurricane activity so far this year,...
Despite above-average hurricane activity so far this year, US Gulf of Mexico oil and natural gas operations have remained largely unscathed, although caution is still advised until the official end of the Atlantic hurricane season on Nov. 30. The industry's most significant disruption this year was a brief, one-day interruption of operations at three Corpus Christi, Texas, refineries during Tropical Storm Harold.
Vital Energy doubles down on Permian after $2B spree
Having invested almost $2 billion in Permian Basin-focused...
Having invested almost $2 billion in Permian Basin-focused acquisitions this year, Vital Energyis ready for further expansion and sees promise in the Delaware Basin, according to President and CEO Jason Pigot. The company's main objectives include growing its oil weighting from 50% to 55% and increasing its drilling inventory.
The Energy Information Administration expects the ...
The Energy Information Administration expects the Permian Basinto drive US-marketed natural gas production higher in the coming years, with projections indicating a 5% growth in 2023 and an additional 2% increase in 2024. In the Permian alone, associated gas production is forecast to rise by 11% in 2023 and 6% in 2024 as well productivity improves and strong oil prices boost drilling activity.
Trucks full of medicine, food, and other humanitarian supplies will reportedly be ...
Trucks full of medicine, food, and other humanitarian supplies will reportedly be allowed into Gaza at the Rafah border crossing today after President Biden secured a deal with Israeli Prime Minister Benjamin Netanyahu during his visit to the country earlier this week. But actually getting the aid to the people who need it faces a number of challenges, including the possibility that Hamas militants steal it. Humanitarian officials also say Israel has not yet guaranteed that aid workers will be safe from airstrikes. Biden gave a prime-time address from the Oval Office last night to make the case that Israel and Ukraine need aid ahead of asking Congress to approve $100 billion to help fund the countries’ war efforts, as well as Taiwan and the US border with Mexico. Meanwhile, a US warship in the Red Sea shot down missiles launched by Iran-backed Houthi militants in Yemen, who may have been aiming at Israel.
