WTI and Brent crude oil futures are swinging in and out of gains and losses in early trading as the volatility...
WTI and Brent crude oil futures are swinging in and out of gains and losses in early trading as the volatility has scared players out of the oil market, which in turn is likely to exacerbate price swings. Oil prices have pulled back as both benchmark contracts are set to end the week down more than 4%, after having traded in a $16 range. Prices have dropped from 14-year highs hit nearly two weeks ago. OPEC+ compliance with oil production cuts rose to 136% in February from 129% in January, missing its target by over 1 million barrels per day, as an already tight oil market braces for major Russian disruption.
MarketWatch: Dow finishes up over 400 points as stocks extend rally
Stocks ended higher Thursday, extending their weekly gains, a day after the Federal...
Stocks ended higher Thursday, extending their weekly gains, a day after the Federal Reserve increased its policy rates for the first time since 2018 and kicked off a new era of tighter financial conditions to help combat inflation. The Dow Jones Industrial Average DJIA rose about 416 points Thursday, or 1.2%, ending near 34,479. That put the blue-chip index up for its 4th day in a row, despite volatile trading sparked earlier in the week by concerns about potential aftershocks of the pandemic saddling the economy with stagnating growth and persistently high inflation, particularly with commodities shooting higher with the war in Ukraine. The S&P 500 indexSPX rose 1.2% Thursday, with its energy segment up the most at 3.5%, while the Nasdaq Composite Index gained 1.3%. For the week so far, the Dow was up 4.7%; S&P 500 was advancing 4.9%; the Nasdaq by 6%, according to FactSet.
Coronavirus Update From Twitter: Experts fear Europe case rise is harbinger of new U.S. wave
A rise in COVID-19 cases in Europe driven by the highly contagious omicron variant is fueling concerns...
A rise in COVID-19 cases in Europe driven by the highly contagious omicron variant is fueling concerns that it will be followed by a new wave of cases in the U.S., which has typically lagged Europe by a matter of weeks.
WTI and Brent crude oil futures are up (WTI +$7.53, @$102.57) ...
WTI and Brent crude oil futures are up (WTI +$7.53, @$102.57) (BRENT +$8.12, @$106.14) attempting to break a three-day losing streak. Oil futures rose after the EIA said three million bpd of Russian oil and products could be shut in from next month. The supply loss would be far greater than an expected drop in demand of one million bpd triggered by higher fuel prices. Morgan Stanley raised its Brent price forecast by $20 for the third quarter of 2022 to $120 a barrel, predicting a fall in Russian production of about 1 million bpd from April. Also, Russia's invasion of Ukraine has drawn a lengthening list of Western sanctions and prompted some customers to stop buying its oil, raising concerns over global supplies. However, Russian seaborne crude oil exports in March have increased from last month.
