Buckle up: U.S. stocks renew slide after wild day on Wall Street
After a wild day of trading that saw ...
After a wild day of trading that saw a 1,000-point-plus upside reversal by the Dow, U.S. stocks were back under pressure Tuesday as the Federal Reserve kicked off a two-day policy meeting and investors sifted through a mixed bag of corporate earnings.
🔥The Dow Jones Industrial AverageDJIA fell 355.09 points, or 1%, to 34,009.41.
🔥The S&P 500SPX declined 62.92 points, or 1.4%, to 4,347.21.
🔥The Nasdaq CompositeCOMP dropped 215.30 points, or 1.6%, to 13,639.83.
WTI and Brent crude oil futures are flat in early trading, seesawing in and out of positive...
WTI and Brent crude oil futures are flat in early trading, seesawing in and out of positive territory as investors weigh bullish signals from a tight supply picture against falling equities and a possible U.S. rate hike. Tensions between Russia and the west continued to drive additional supply concerns with NATO announcing it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets, in what Russia denounced as Western "hysteria" in response to its build-up of troops on the Ukraine border. In the Middle East, Yemen's Iran-aligned Houthi movement launched a missile attack on Monday on a base in the United Arab Emirates hosting the U.S. military, which was thwarted by U.S.-built Patriot interceptors, U.S. and Emirati officials said. Also fueling the lingering supply concerns, OPEC+ said it was still struggling to hit its targeted monthly output increase of 400,000 barrels per day.
After two consecutive days of gains, natural gas futures slipped lower this morning amid moderating weather forecasts in key consuming regions that should stunt demand.
The energy sector is poised for another lower start, tracking further declines in the major equity futures...
The energy sector is poised for another lower start, tracking further declines in the major equity futures which fell this morning ahead of the Federal Reserve meeting and a host of major earnings while crude prices steadied.
In deal news, Chesapeake Energy announced this morning it will buy privately held oil and gas producer Chief E&D Holdings LP for about $2.5 billion expanding its position in the gas-rich shale plays of the U.S. northeast. Chesapeake will buy the company and some stakes held by Chief E&D's asset partner for $2 billion in cash and about 9.44 million worth of shares. Chesapeake also said it agreed to sell its Powder River Basin assets in Wyoming to Continental Resources for about $450 million.
Stand-alone natural gas wells driving new growth in Saudi Arabia's natural gas production
Saudi Arabia's dry natural gas production reached an average of 11 billion cubic feet per day (Bcf/d)...
Saudi Arabia's dry natural gas production reached an average of 11 billion cubic feet per day (Bcf/d) for the first time in 2020, a 30% increase from 2010. Oil production cuts related to the December 2016 OPEC+ agreement have reduced Saudi Arabia's associated natural gas production (natural gas produced as a by-product of oil production). However, the country's total natural gas output steadily has steadily grown over the past two decades because of the development of non-associated, or stand-alone, natural gas fields.
