Energy stocks opened lower as falling oil prices continue to weigh in on the sector. The major market futures are higher ahead of the release of notes from the most recent Federal Reserve Meeting in hopes the Fed will ease their stance on aggressive interest rates.
WTI and Brent crude oil futures continue to trend lower, after slumping in the previous session, amid concerns over weak demand due to a slowing global economy.Additionally, rising COVID-19 cases in China have pushed investors to the edge of their seat as the possibility of the nation reintegrating coronavirus curbs increases. Signs of a weakening global economy are being seen across the world, with nations such as China which recently increased export quotas for refined oil products in the first batch for 2023, signaling expectations of poor domestic demand. Also, Saudi Arabia may further cut the prices for its flagship Arab Light crude grade to Asia in February, after they were set at a 10-month low for this month, as concerns of oversupply continued to cloud the market.
Natural gas futures are slightly higher after plunging more than 10% yesterday as North America continues to experience warmer-than-normal temperatures.
Germany’s Wilhelmshaven Terminal Receives First US LNG Cargo
Germany’s new Wilhelmshaven LNG import terminal received its first full cargo from Calcasieu Pass,...
Germany’s new Wilhelmshaven LNG import terminal received its first full cargo from Calcasieu Pass, Louisiana, aboard the Maria Energy LNG ship.
Maria Energy, owned by Tsakos Energy Navigation, was originally loaded on Dec. 19 in Calcasieu Pass, Venture Global Calcasieu Pass LLC announced Jan. 3 in a press release.
Maria Energy is fully loaded with approximately 170,000 cu. m of LNG (97,147,000 cu. m of gas), enough to supply around 50,000 German households with energy for one year, Venture Global said.
Twitter is worth half as much as it was when Elon Musk bought it, according to Fidelity. The...
Twitter is worth half as much as it was when Elon Musk bought it, according to Fidelity. The firm cut the carrying value of its investment in the social media platform by 56% in November. It now assigns a value of $8.64 million to its stake — down from $19.66 million in October.
Sam Bankman-Fried asked a judge to keep secret the identities of two people who helped secure...
Sam Bankman-Fried asked a judge to keep secret the identities of two people who helped secure his $250 million bail. The disgraced crypto king's lawyers argued there was "no need for public disclosure" of names, and that it would save the individuals from public scrutiny. Meanwhile, in New York federal court yesterday, Bankman-Fried entered a plea of not guilty.
Kevin McCarthy lost three ballots for House speaker, with 20 Republicans voting against him to...
Kevin McCarthy lost three ballots for House speaker, with 20 Republicans voting against him to show the would-be leader who's boss. A look at the chaos in the House.
A passenger is suing Southwest Airlines, saying the carrier only gave him vouchers despite promising a refund for a canceled flight. Get the full story.
