The energy sector is off to a lower start, pressured by weakness in the...
The energy sector is off to a lower start, pressured by weakness in the underlying commodities and the major market futures. U.S stocks are sharply lower in the pre-market amid fresh worries of a banking crisis along with a larger-than-expected fall in February’s retail sales.
WTI and Brent crude oil are trading down as concerns over Credit Suisse’s impact on the world markets outweighed hopes of a Chinese demand recovery. Oil was higher after China released data showing their economic activity had increased within the first two months of the year, as consumption and infrastructure investment drove the recovery from the country’s COVID-19 curbs. Additionally, a stronger dollar also weighed in on prices. Investors are waiting to see whether today’s EIA inventory data comes in line with yesterday’s 1.2 million barrel increase reported by the API.
Natural gas futures are lower, tracking losses in crude and on forecasts for warmer weather in the near term.
US stock futures fall early Wednesday, as investors mull the latest inflation report. Bank stocks are rising again as nerves calm — though SVB-driven fears are still niggling. Here are the latest market moves.
Earnings on deck: Samsung, Adobe, and more, all reporting.
Scientists blame natural gas production for southern Colorado earthquakes
Recent earthquakes in southern Colorado are being blamed on wastewater injection wells—just like those...
Recent earthquakes in southern Colorado are being blamed on wastewater injection wells—just like those in Oklahoma in years past and in the Permian Basin of West Texas in the past several months.
The southern Colorado quakes are near the city of Trinidad, an area known as the Raton Basin. Scientists blame nearby natural gas production and waste injection wells.
“I think it’s highly likely that these earthquakes were induced by the wastewater disposal operations in the area,” Justin Rubinstein, a research geophysicist with the U.S. Geological Survey, said in an interview with Colorado NewsLine.
Odds for a jumbo hike have since gone to zero, according to CME's FedWatch Tool, with...
Odds for a jumbo hike have since gone to zero, according to CME's FedWatch Tool, with traders now putting roughly 62% odds to a 25-basis-point move, which would match February's increase.
"Just a few days ago, the CPI data release was the key crystal ball to look at to ascertain the Fed's next move," said Seema Shah, chief global strategist at Principal Asset Management.
Now, economic data has taken a backseat. "The ferocity of financial system stress will dictate Fed policy next week," Shah added.
The American Petroleum Institute (API) on Tuesday showed a 1.155 million barrel build bringing...
The American Petroleum Institute (API) on Tuesday showed a 1.155 million barrel build bringing the total gains this year to a staggering 56 million barrels.
While crude oil saw a build, it was the only build this week, with product inventories falling.
Gasoline inventories fell by 4.587 million barrels after last week’s data showed the fuel inventories rose by 1.840 million barrels. Distillates fell by 2.886 million barrels after increasing by 1.927 million bpd in the week prior.
Inventories at Cushing, Oklahoma, decreased by 946,000 barrels more than undoing the 24,000 barrel hike reported last week.
