Benchmark U.S. crude oil for January delivery fell $2.24 to $72.01 a barrel Wednesday. Brent crudefor February delivery fell $2.18 to $77.17 a barrel.
Wholesale gasoline for January delivery fell 7 cents to $2.08 a gallon. January heating oilfell 14 cents to $2.78 a gallon. January natural gasrose 25 cents to $5.72 per 1,000 cubic feet.
S&P 500 ends lower for fifth day, longest losing streak since October
U.S. stocks closed mostly lower Wednesday, with the S&P 500...
U.S. stocks closed mostly lower Wednesday, with the S&P 500 falling a fifth straight day as investors continued fearing a recession could be triggered by the Federal Reserve's aggressive interest rate hikes as it fights high inflation. The Dow Jones Industrial Average DJIA, closed about flat, while the S&P 500 SPX fell 0.2% and the Nasdaq Composite COMP, dropped 0.5%, preliminary data from FactSet show. The S&P 500 finished with its longest losing streak since October 12, according to Dow Jones Market Data. Of the S&P 500's 11 sectors, only healthcare, consumer staples, and real estate finished with gains.
The US is expected to produce 12.34 million barrels of oil per day next year, said an Energy Information...
The US is expected to produce 12.34 million barrels of oil per day next year, said an Energy Information Administration report. The forecasted production would top the record 12.32 million barrels per day produced in 2019 and reverses five months of production estimate cuts amid worries that US shale output might be weakening
Hungary Scraps Fuel-Price Cap After Nationwide Gasoline Shortage
(Bloomberg) Hungarian Prime Minister Viktor Orban’s government...
(Bloomberg) Hungarian Prime Minister Viktor Orban’s government scrapped a controversial fuel price cap after a gasoline shortage swept the country.
The cap that had set gasoline costs at 480 forint ($1.2) per liter, by far the cheapest in the European Union, ceased at 11 p.m. local time on Tuesday, Cabinet Minister Gergely Gulyas said at a late-night briefing in Budapest. He blamed EU sanctions on Russian oil for roiling supplies.
Modestly lower open puts U.S. stocks on track for fifth straight daily decline
U.S. stock indexes opened lower on Wednesday morning, struggling to recover ground after a four-day losing...
U.S. stock indexes opened lower on Wednesday morning, struggling to recover ground after a four-day losing streak amid worries about the chances of an economic downturn in coming months.
S&P 500SPX, -0.23% dropped 2 points, or 0.1%, to 3,938
Dow Jones Industrial AverageDJIA, -0.05% shed 9 points, or less than 0.1%, to 33,587
Nasdaq Composite COMP, -0.69% fell 13 points, or 0.1% to 10,999
