WTI, Brent crude dip amid surprise US inventory rise
Oil prices slipped during early trading today after the American Petroleum Institute reported an unexpected...
Oil prices slipped during early trading today after the American Petroleum Institute reported an unexpected rise in US crude inventories of some 3.6 million barrels in the week ended May 5, defying analysts' expectations. US crude dropped 20 cents to $73.51 a barrel, while Brent crude dropped 16 cents to $77.28 a barrel, as investors await the release of US Consumer Price Index data for April to gauge the Federal Reserve's next likely policy move.
The New York Republican who fabricated much of his career and life background was ...
The New York Republican who fabricated much of his career and life background was charged with federal criminal offenses, multiple news outlets reported yesterday. The charges are still sealed, but they could be revealed today if Santos appears in court. Despite numerous investigations into his actions, incessant mocking, and calls for him to resign (even from his fellow New York Republicans), Santos is adamant about wanting to stay in Congress and said last month he would run for reelection.
U.S. consumer prices rose 4.9 percent in the year through April, a 10th straight month of declines in inflation.
Inflation slowed for a 10th straight...
Inflation slowed for a 10th straight month in April, a closely watched report on Wednesday showed, good news for American families struggling under the burden of higher costs and for policymakers in Washington as they try to wrangle rapid price increases.
The Consumer Price Index climbed 4.9 percent in April from a year earlier, less than the 5 percent economists in a Bloomberg survey had expected. Inflation has come down notably from a peak just above 9 percent last summer, though it has remained far higher than the 2 percent annual gains that were normal before the pandemic.
U.S. stock-market futures turn positive after April inflation data
U.S. stock futures advanced on Wednesday while Treasury yields declined as a monthly inflation report...
U.S. stock futures advanced on Wednesday while Treasury yields declined as a monthly inflation report showed the pace of inflation in the U.S. slowed last month by more than economists’ had expected. Futures for the S&P 500 ES00, 0.73% increased by 15 points, or 0.4%, to 4,148. Futures for the Nasdaq 100 NQ00, 0.86% gained 56 points, or 0.4%, to 13,319. Futures for the Dow Jones Industrial Average YM00, 0.47% gained 60 points, or 0.2%, to 33,695. The yield on the 10-year Treasury note fell by 5 basis points to 3.465%. Bond yields move inversely to prices. Headline inflation sunk to 4.9% in April on a year-over-year basis, marking its lowest level in two years, according to data released by the Bureau of Labor Statistics.
The American Petroleum Institute (API) on Tuesday reported a 3.618 million barrel build for the...
The American Petroleum Institute (API) on Tuesday reported a 3.618 million barrel build for the week ending May 5, 2023.
The petroleum industry group had reported a crude drawdown of 3.939M barrels in the prior week to April 28. On the fuel side, API reported a gasoline inventory build of 0.4M barrels and a distillate stock drop of 3.945M barrels.
The net build in crude stockpiles aside, the API noted a 1.316M barrel draw itself at the Cushing, Oklahoma delivery point for U.S. crude.
