The energy sector is lower today, pressured by weakness in the underlying...
The energy sector is lower today, pressured by weakness in the underlying commodities. Meanwhile, the major equity futures are mixed, as investors remain uncertain about the timing of interest rate cuts.
WTI and Brent crude oil futures are kicking off the week sharply lower after Saudi Aramco made sharp price cuts to Arab Light, which offset ongoing tensions in the Middle East. Saudi Aramco lowered the official selling price of Arab Light for February to Asia by $2.00/barrel to a $1.50 premium vs Oman/Dubai, the largest m/m cut in over a year. At least three Asian customers told Bloomberg the price drop was unlikely to lead to requests for incremental deliveries while two Chinese buyers said they won't be lifting any term cargoes from KSA this month. Aramco also cut the price of Arab Light to the U.S. and NW Europe by $2.00/barrel. The ongoing war in the Middle East and a force majeure by Libya's National Oil Corporation on Sunday at its Sharara oilfield, is limiting losses.
Natural gas futures dropped earlier this morning as investors take profits following last week’s 16% price gain and on forecasts for colder temperatures for most of the L48 in the third week of January.
Hezbollah Says a Commander Is Killed in a Strike in Lebanon
Hezbollah said on Monday that one of its commanders...
Hezbollah said on Monday that one of its commanders was killed in a strike in southern Lebanon, adding to concerns about a wider regional war as Israel battles Hamas in Gaza.
In a statement, Hezbollah identified the commander as Wissam Hassan Al-Tawil but gave few additional details. A Lebanese security official, speaking on condition of anonymity because of the sensitivity of the matter, said Mr. Al-Tawil was a commander in Hezbollah’s Radwan unit, which Israel says aims to infiltrate its northern border. The official said he was killed in a strike in Khirbet Selm, a village in southern Lebanon that is about nine miles from the Israeli border.
Hundreds of flights were canceled across the country, I-80 was temporarily closed in California as heavy snow fell on the Sierra Nevada, and every kind of nasty precipitation you can think of—snow, sleet, freezing rain, ice—pummeled the Northeast through Sunday. You won’t get much of a break to shovel your driveway: Another fast-moving, powerful winter storm will make its way across the country in the middle of the week, delivering significant snowfall to a handful of states. But probably not in Manhattan, which as of today has gone a record 694 days without an inch of snow.
If you have a gadget that doesn’t include AI, you may as well not show up to the Brobdingnagian consumer...
If you have a gadget that doesn’t include AI, you may as well not show up to the Brobdingnagian consumer electronics trade show that starts in Las Vegas on Tuesday. Dozens of companies are planning to unveil new products that incorporate AI, from safety systems in automobiles to PCs and smartphones. Notable no-shows: Apple, which has snubbed the event for years, and OpenAI’s Sam Altman.
Markets: Was the champagne that flowed at the end of 2023 just “sparkling wine”?...
Markets: Was the champagne that flowed at the end of 2023 just “sparkling wine”? One week into 2024, stocks and bonds are off to their worst start in 21 years as investors may have got a bit ahead of their skis in anticipating Fed rate cuts. This week, Wall Street will be focused on fresh inflation data and the beginning of Q4 earnings season.
Michigan will take on Washington in the college football championship tonight. All signs point to a competitive game.
US Defense Secretary Lloyd Austin said he takes “full responsibility” over his mysterious hospitalization for an unspecified medical condition as criticism of his secrecy grows.
Top US and European diplomats were in the Middle East on a mission to prevent the Israel–Hamas war, now entering its fourth month, from spilling over into a wider regional conflict.
Audacy, the US’ largest radio company, filed for Chapter 11 bankruptcy.
President Biden will deliver the State of the Union address on March 7 during a time House Speaker Mike Johnson called a “moment of great challenge for our country.”
