The energy sector is off to a mixed start, reeling ahead of the bell as traders balance mild-strength in the crude complex against weakness in the major equity futures which steadied this morning as the third-quarter earnings season gained momentum and ahead of a busy economic data calendar.
WTI and Brent crude oil futures inched higher in early trading following yesterday's over $1 decline, gaining ahead of a trip by President Biden to the Middle East that is likely to involve balancing support for Israel with containing a regional escalation of its war with Hamas. Venezuela's government and opposition are set to resume long-suspended talks today which President Nicolas Maduro said would benefit the 2024 election, a move that could lead to Washington easing sanctions. There is also some focus on Russian President Putin's visit to key trade partner China although no new energy deals are expected. Attention will now shift to the weekly U.S. inventory cycle beginning today, with API's report due out after the close followed by the official EIA data mid-day tomorrow.
A growing need for adaptable storage solutions amid rising intermittent demand for natural gas along...
A growing need for adaptable storage solutions amid rising intermittent demand for natural gas along the US Gulf Coast is revitalizing the salt dome storage market, boosting prices, and driving expansions of existing caverns. Heightened competition for storage capacity has increased buyers' willingness to accept higher rates and commit to longer-term contracts, according to Enstor Senior Vice President of Origination Peter Abt.
🔔 Before the opening bell: US stock futures fall ...
🔔 Before the opening bell:US stock futures fall early Tuesday as investors await more earnings reports and retail sales data for September.
Janet Yellen said the US economy can support both Israel and Ukraine. The treasury secretary said the US can “certainly afford” to send aid to both countries. She noted inflation has been high, but said it’s come down “considerably” and pointed to the strong labor market. “The American economy is doing extremely well,” she said.
Historybook: Actress Rita Hayworth born (1918); Mae Jemison, first Black woman in...
Historybook: Actress Rita Hayworth born (1918); Mae Jemison, first Black woman in space, born (1956); Eminem born (1972); Mother Teresa wins Nobel Peace Prize (1979); Earthquake near San Francisco kills 63 (1989).
The police in Brussels killed a man suspected of having shot two Swedish nationals to death in an attack that the Belgian prime minister described as terrorism.
The Illinois landlord who fatally stabbed a 6-year-old boy and injured his mother because they were Muslim in response to the Israel–Hamas war has been charged with a hate crime.
The price of Girl Scout cookies is going up. To help cover the rising costs for the bakeries that produce them, boxes of Thin Mints and the rest that used to cost $5 will now sell for $6 in many areas.
What’s Affecting Oil Prices This Week? (October 16, 2023)
The conflict between #Israel...
The conflict between #Israel and #Hamas will continue to be the most important factor affecting the #oil markets and the situation will be in the forefront this week with Israel finishing preparations for a ground incursion into #Gaza. https://t.co/L3OKWKOUtLpic.twitter.com/oNmbFbrH6y
