API Reports Another Large Build in Oil Inventories
U.S. crude stockpiles had another multi-million barrel build last week, trade group API said Tuesday, as refiners slowed down the output of fuel products amid an unseasonably warm winter.
U.S. crude inventories rose by 3.378M barrels during the week ended Jan. 20, the API said. In the previous week to Jan. 13 and Jan 6, the API reported back-to-back crude builds of 7.615M and 14.865M barrels.
Specifically for the Cushing, Oklahoma delivery point for U.S. crude,the API reported a stockpile build of 3.928M barrels, after the previous week’s rise of 3.7M barrels.
Growing concerns about a global economic slowdown led to a nearly 2% drop in crude oil prices Tuesday,...
Growing concerns about a global economic slowdown led to a nearly 2% drop in crude oil prices Tuesday, both in the U.S. and overseas. As a result, Oklahoma energy stocks were mixed with some losing up to 8% while others gained 7%.
The expected build in U.S. oil inventories, something noted last week in OK Energy Today’s update on crude oil storage at the Cushing hub in Oklahoma, resulted in a drop of $1.49 or 1.8% to $80.13 per barrel of West Texas Intermediate crude on the New York Mercantile Exchange.
Global benchmark Brent crude, traded on ICE Futures Europe, fell $2.06 or 2.3% per barrel to $86.13.
February natural gasfell 19 cents to $3.26 per 1,000 cubic feet.
Dow ends up 100 points, but S&P 500, Nasdaq finish in the red
U.S. stocks finished lower on Tuesday with only the Dow clinging...
U.S. stocks finished lower on Tuesday with only the Dow clinging to gains for the session as investors digested more earnings reports from major American firms.The S&P 500 SPX, -0.07% shed roughly 3 points, or 0.1%, to finish just shy of 4,017. The Nasdaq Composite COMP, -0.27% dropped by 30 points, or 0.3%, to roughly 11,334. The Dow Jones Industrial Average gained 104 points, or 0.3%, to finish at roughly 33,734. More earnings from major U.S. companies, including Microsoft Corp. MSFT, -0.22% are due out after the bell.
Millions of Pakistanis were without electricity or internet Monday for the second time in three months after an overnight cost-saving measure of planned temporary blackouts led to widespread outages. Power was said to be restored after 15 hours late Monday, making it one of the nation's longest outages.
U.S. stock-market futures slipping amid earnings from 3M, GE, Travelers, Verizon
U.S. stock index futures are trading lower Tuesday as the latest...
U.S. stock index futures are trading lower Tuesday as the latest batch of company earnings are generally meeting or beating estimates, but giving downbeat outlooks that feed into investor worries of a looming recession.
S&P 500 futures ES00, -0.49% dipped 14 points, or 0.3%, to 4022
Dow Jones Industrial Average futures YM00, -0.46% fell 120 points, or 0.3%, to 33607
Nasdaq 100 futures NQ00, -0.71% eased 69 points, or 0.5%, to 11864
Companies presenting their results on Tuesday morning include GE GE, Johnson & Johnson JNJ, Verizon VZ, 3M MMM, Lockheed LMT, Raytheon RTX and Travelers TRV. Microsoft MSFT and Texas Instruments TXN report after market close on Tuesday.
