Laredo Energy has announced plans to rebrand as Vital Energy effective Jan 9. They will...
Laredo Energy has announced plans to rebrand as Vital Energy effective Jan 9. They will trade on the NYSE under the ticker “VTLE.”
“Our rebrand to Vital Energy in early 2023 reflects our mission and collective commitment to find new and creative ways to add value for all of our stakeholders,” said president and CEO Jason Piggott.
A worldwide recession is just around the corner, and BlackRock is expecting it to...
A worldwide recession is just around the corner, and BlackRock is expecting it to bring more market turbulence than ever before.
The global economy is leaving a four-decade stretch of stable growth and modest inflation to enter a period of massive upheaval and instability, BlackRock analysts wrote in the firm's 2023 Global Outlook.
"Recession is foretold as central banks race to try to tame inflation. It's the opposite of past recessions," they said. "Central bankers won't ride to the rescue when growth slows in this new regime, contrary to what investors have come to expect. Equity valuations don't yet reflect the damage ahead."
Russia's central bank just issued a warning about "new economic shocks" coming from sanctions. The...
Russia's central bank just issued a warning about "new economic shocks" coming from sanctions. The recent implementation of the oil price cap, too, will weigh on the warring nation, according to a recent report out of Moscow. Get the full details here.
US stocks tick higher in the final trading session of the week. All three of the...
US stocks tick higher in the final trading session of the week. All three of the major indexes are on pace for losing weeks despite Thursday's gains, and investors are eyeing fresh inflation data due out today, as well as next week's Fed meeting. Here's how markets are moving this morning.
On the docket: Atlas Technical Consultants, Li Auto Inc, and Northern Oil and Gas, all reporting.
U.S. oil futures settle lower, but speculation of SPR refills emerge
U.S. oil futures settled lower ...
U.S. oil futures settled lower on Thursday, down a fifth straight session, but an oil leak that led to a shutdown of the Keystone Pipeline and talk of a potential buyback of oil to refill U.S. reserves helped to limit price losses. The White House said in October that the Biden administration intends to repurchase oil for the Strategic Petroleum Reserve when prices are at or below $67 to $72. U.S. benchmark WTI crude for January delivery CLF23 fell 55 cents, or 0.8%, to settle at $71.46 a barrel on the New York Mercantile Exchange on Thursday. With U.S. prices now within that price band, that “‘Biden SPR put’ is definitely playing a part in the market finding some price support in the low $70 range,” said Tyler Richey, co-editor at Sevens Report Research.
