The energy sector is poised for a lower start, pressured...
The energy sector is poised for a lower start, pressured by weakness in the crude complex and in the major market indices. U.S. stocks fell as Treasury yields surged to fresh multi-year highs ahead of Tuesday's inflation data that could back a more hawkish stance from the Federal Reserve.
WTI and Brent crude oil are down in early trading on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers more potential sanctions on Russian energy.
Natural gas futures rose on strong demand overseas which has emptied storage and left inventories well below average for this time of year despite forecasts for milder weather and lower heating demand.
🔥From Twitter: A journey in the life span of an offshore oil well
Unlike shale wells that cost $10 million...
Unlike shale wells that cost $10 million or $15 million to drill and mere months to yield oil, offshore projects cost billions and rarely come online in less than a decade.#Shell#OilAndGas#Offshore#Upstreamhttps://t.co/RvpjfM96xq
Inflation watch:Â The consumer price index is the highlight of a busy week for economic...
Inflation watch:Â The consumer price index is the highlight of a busy week for economic data. Inflation is expected to have jumped 7.9% from a year ago, which both you and the Fed consider much too high. The central bank could hike interest rates by a meatier one-half percentage point at its meeting next month.
Earnings season is back:Â JPMorgan, Wells Fargo, and other big banks kick off the first-quarter earnings season. Their profits are projected to have plunged from last year, when the economy was roaring back from the Covid recession.
Holidays! Passover begins at sundown on Friday night, and Easter is on Sunday. The stock market will be closed for Good Friday.
Brigham Minerals (NYSE:MNRL) Price Target Raised to $31.00
Brigham Minerals (NYSE:MNRLÂ had...
Brigham Minerals (NYSE:MNRL had its price objective raised by Piper Sandler from $30.00 to $31.00 in a research note published late last week, The Fly reports. Piper Sandler currently has an overweight rating on the stock. Piper Sandler also issued estimates for Brigham Minerals’ Q1 2022 earnings at $0.61 EPS.
IEA Details Plan to Release 120 Million Barrels of Oil
The International Energy Agency (IEA) last week listed members’ contributions to a...
The International Energy Agency (IEA) last week listed members’ contributions to a 120 million-barrel release of crude and oil products from emergency stockpiles aimed at cooling global oil prices following Russia’s invasion of Ukraine.
The release of stocks by the U.S.-allied members of the IEA, which is made up of 31 mostly industrialized countries but not Russia, would be their second coordinated release in a month and would be the fifth in the agency’s history to confront oil market disruption.
It is the largest release from non-U.S. IEA countries on top of the biggest release by the United States.
