2 days ago
Exxon's Q2 profit doubled to $15 billion and Chevron's nearly quadrupled to $12 billion, combining for roughly $27 billion as Brent crude peaked at $126.
Gas averaged $4.28 a gallon on Oct. 19, up 40% year-over-year, with 73% of likely voters disapproving of Trump's handling of prices.
A Dallas Fed model estimates a 15% global oil supply disruption cuts annualized US real GDP growth by about 0.3 points.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
#dallas #nearly #combining
Gas averaged $4.28 a gallon on Oct. 19, up 40% year-over-year, with 73% of likely voters disapproving of Trump's handling of prices.
A Dallas Fed model estimates a 15% global oil supply disruption cuts annualized US real GDP growth by about 0.3 points.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
#dallas #nearly #combining
22 days ago
EPD yields 6.19% and ET yields 6.64%, turning a $100,000 equal split into $6,413 in annual passive income.
Energy Transfer cut its distribution 50% in 2020, while Enterprise has grown its payout for 27 consecutive years without a cut.
Energy Transfer is supplying roughly 900 MMcf/d to Oracle-run data centers, making AI power demand a key growth driver.
Building a portfolio and living off one are two completely different skills, and almost ****** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
Energy pays some of the highest yields in the market, and it carries a risk most income sectors avoid: commodity prices. When crude falls, an integrated major can lean on its refining business. A pure producer sees its cash flow rise and fall with oil and gas prices. A midstream operator collects fees on the volumes moving through its pipelines, plants and export docks, so its cash flow holds up better in a downturn.
#energy #income #yields
Energy Transfer cut its distribution 50% in 2020, while Enterprise has grown its payout for 27 consecutive years without a cut.
Energy Transfer is supplying roughly 900 MMcf/d to Oracle-run data centers, making AI power demand a key growth driver.
Building a portfolio and living off one are two completely different skills, and almost ****** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
Energy pays some of the highest yields in the market, and it carries a risk most income sectors avoid: commodity prices. When crude falls, an integrated major can lean on its refining business. A pure producer sees its cash flow rise and fall with oil and gas prices. A midstream operator collects fees on the volumes moving through its pipelines, plants and export docks, so its cash flow holds up better in a downturn.
#energy #income #yields
23 days ago
The US Strategic Petroleum Reserve (SPR) dropped by almost 800,000 barrels last week, and the Trump administration moved forward with plans to sell another 40 million barrels in the coming months.
New data released on Monday by the US Department of Energy showed the US energy backstop sitting at 283 million barrels, down from 283.77 million the week prior.
That leaves about two weeks of US oil consumption in the reserve amid widespread worries about global stockpiles, which the head of Saudi Arabia's state producer on Monday called "scarily thin."
Amin Nasser, chief executive of Saudi Aramco, added at an Energy Intelligence Forum in London on Monday that releasing stockpiles will buy economies some time but won't fix the imbalances that have developed between supply and demand.
Yet these withdrawals in the US could soon accelerate after the Trump administration unveiled a request for bids from companies to buy up to 40 million barrels of crude oil from the SPR, with the aim of having the companies return those supplies "with additional premium barrels." The solicitation process is ongoing, and it's unclear if companies will agree to those terms.
#Companies #saudi #week
New data released on Monday by the US Department of Energy showed the US energy backstop sitting at 283 million barrels, down from 283.77 million the week prior.
That leaves about two weeks of US oil consumption in the reserve amid widespread worries about global stockpiles, which the head of Saudi Arabia's state producer on Monday called "scarily thin."
Amin Nasser, chief executive of Saudi Aramco, added at an Energy Intelligence Forum in London on Monday that releasing stockpiles will buy economies some time but won't fix the imbalances that have developed between supply and demand.
Yet these withdrawals in the US could soon accelerate after the Trump administration unveiled a request for bids from companies to buy up to 40 million barrels of crude oil from the SPR, with the aim of having the companies return those supplies "with additional premium barrels." The solicitation process is ongoing, and it's unclear if companies will agree to those terms.
#Companies #saudi #week
1 month ago
A Wall Street Journal report on September 16 revealed that ExxonMobil Holdings Corporation (NYSE:XOM) is nearing a preliminary agreement with Venezuela's state-owned PDVSA, potentially marking its return to the country almost two decades after its ***** ets were nationalized. According to Reuters, Exxon has shown interest in the large Petromonagas heavy oil project in the Orinoco Belt, as well as in areas in the neighboring Carabobo block.
While the talks are still in their preliminary phase and could still fall apart or be delayed, they mark a major turnaround from Exxon's previous stance on Venezuela. The company's CEO, Darren Woods, stated in January that the country was "uninvestable" without durable investment protections, legal reforms, and changes to its hydrocarbon laws.
The development comes amid a broader push by the Trump administration to open Venezuela's oil industry to American companies and revive the country's dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total.
Venezuela could provide Exxon with access to an enormous resource base at a time when the company is actively seeking low-cost and long-duration ***** ets. The fields under consideration are estimated to contain more than 50 billion barrels of oil buried underground.
Exxon already holds an advantage through its previous experience in the country. Petromonagas, formerly called Cerro Negro, was once the energy firm's flagship project in Venezuela, giving it familiarity with the country's vast heavy and extra-heavy crude resources. Petromonagas also remains one of the few Venezuelan projects with an operational upgrader capable of turning the Orinoco's extra-heavy crude into lighter exportable grades.
#heavy #project
While the talks are still in their preliminary phase and could still fall apart or be delayed, they mark a major turnaround from Exxon's previous stance on Venezuela. The company's CEO, Darren Woods, stated in January that the country was "uninvestable" without durable investment protections, legal reforms, and changes to its hydrocarbon laws.
The development comes amid a broader push by the Trump administration to open Venezuela's oil industry to American companies and revive the country's dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total.
Venezuela could provide Exxon with access to an enormous resource base at a time when the company is actively seeking low-cost and long-duration ***** ets. The fields under consideration are estimated to contain more than 50 billion barrels of oil buried underground.
Exxon already holds an advantage through its previous experience in the country. Petromonagas, formerly called Cerro Negro, was once the energy firm's flagship project in Venezuela, giving it familiarity with the country's vast heavy and extra-heavy crude resources. Petromonagas also remains one of the few Venezuelan projects with an operational upgrader capable of turning the Orinoco's extra-heavy crude into lighter exportable grades.
#heavy #project
1 month ago
Americans have paid about $97 billion more for fuel since the Iran war started in late February, roughly $740 extra per household, according to CNN. President Trump says prices will come down after the midterms. The CEO of Chevron just said publicly he does not see how that happens quickly.
Mike Wirth, Chevron's chairman and chief executive, spoke at a University of Texas at Austin energy conference on September 11. He told the audience that the mechanisms that helped absorb the oil supply shock earlier in the conflict have largely been used up, and that prices are more likely to rise than fall over the next few months.
When the U.S.-Iran conflict began, the oil market had several ways to handle the disruption. Countries could release crude from strategic reserves. Commercial inventories could be drawn down. The U.S. eased restrictions on sanctioned crude stored on vessels at sea. Those measures helped limit the initial price spike.
"Those have largely now played out," Wirth said. The energy system no longer has the buffers it had when the war began.
The loss of flexibility became more acute after attacks knocked out a major Saudi crude pipeline that had been bypassing the Strait of Hormuz. That single disruption put an estimated 2.5 million barrels of oil per day in limbo, tightening a market that was already running short on supply.
#crude #prices #energy #conflict
Mike Wirth, Chevron's chairman and chief executive, spoke at a University of Texas at Austin energy conference on September 11. He told the audience that the mechanisms that helped absorb the oil supply shock earlier in the conflict have largely been used up, and that prices are more likely to rise than fall over the next few months.
When the U.S.-Iran conflict began, the oil market had several ways to handle the disruption. Countries could release crude from strategic reserves. Commercial inventories could be drawn down. The U.S. eased restrictions on sanctioned crude stored on vessels at sea. Those measures helped limit the initial price spike.
"Those have largely now played out," Wirth said. The energy system no longer has the buffers it had when the war began.
The loss of flexibility became more acute after attacks knocked out a major Saudi crude pipeline that had been bypassing the Strait of Hormuz. That single disruption put an estimated 2.5 million barrels of oil per day in limbo, tightening a market that was already running short on supply.
#crude #prices #energy #conflict
1 month ago
California Resources Corporation (NYSE:CRC) announced on September 17 that it had agreed to sell its Uinta Basin **** ets, located mostly in Utah and Colorado, to an undisclosed buyer for $90 million in cash. The company had come to own the Uinta **** ets, which span about 100,000 net acres, after it acquired Berry Corp last year. However, CRC considered them non-core to its operations. The net proceeds from the sale will be used for shareholder returns and other corporate purposes.
Francisco Leon, President and CEO of California Resources Corporation, commented:
"Today's transaction strengthens our business. The monetization of our Uinta Basin **** ets sharpens our focus on California and captures additional value from the Berry merger. This transaction enhances our capital allocation flexibility, allowing us to invest in higher-return opportunities within the Golden State and supports our shareholder return strategy. The sale also helps offset the purchase price of our recent midstream transaction."
The transaction is expected to close by year-end, subject to the receipt of certain third-party consents and other customary conditions.
The sale will allow CRC to redeploy the $90 million toward **** ets that are central to its operating strategy while avoiding additional capital commitments to Uinta. The company already stated in its Q2 earnings call that Uinta has higher capital intensity, higher break-evens, lower crude quality, higher transportation and operating costs, and steeper declines. Therefore, the sale removes a portfolio distraction at a time when CRC is concentrating investment in California infrastructure and production.
#uinta #assets #transaction #capital
Francisco Leon, President and CEO of California Resources Corporation, commented:
"Today's transaction strengthens our business. The monetization of our Uinta Basin **** ets sharpens our focus on California and captures additional value from the Berry merger. This transaction enhances our capital allocation flexibility, allowing us to invest in higher-return opportunities within the Golden State and supports our shareholder return strategy. The sale also helps offset the purchase price of our recent midstream transaction."
The transaction is expected to close by year-end, subject to the receipt of certain third-party consents and other customary conditions.
The sale will allow CRC to redeploy the $90 million toward **** ets that are central to its operating strategy while avoiding additional capital commitments to Uinta. The company already stated in its Q2 earnings call that Uinta has higher capital intensity, higher break-evens, lower crude quality, higher transportation and operating costs, and steeper declines. Therefore, the sale removes a portfolio distraction at a time when CRC is concentrating investment in California infrastructure and production.
#uinta #assets #transaction #capital
1 month ago
Chevron Corporation (NYSE:CVX) is about to significantly expand its operations in Venezuela. The company's CFO, Eimear Bonner, revealed at a Barclays conference on September 8 that the American oil giant plans to more than double the number of oil rigs it operates in the country as part of its five-year plan to increase output.
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
1 month ago
Enbridge Inc. (NYSE:ENB) has declined by around 17% since hitting its record high in May, likely as a result of rising bond yields, lack of visibility on the company's 5% growth guidance through the end of the decade, and the recently closed equity offering intended to fund the midstream operator's strategic acquisitions.
However, BMO Capital sees this pullback as an opportunity and on September 15, the firm upgraded ENB from 'Market Perform' to 'Outperform', while also slightly raising its price target from C$79 to C$79.50. The target boost implies an upside of 18% from the current levels.
The **** yst believes that Enbridge's scale, limited commodity exposure, and diversified **** ets are underappreciated. BMO also cited the company's improving visibility on growth, robust backlog, opportunistic acquisitions, and improved balance sheet as reasons behind the upgrade.
Enbridge's aggressive expansion strategy adds significantly to its bull case. The company announced on September 9 that it would acquire Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its US liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other **** ets. The midstream operator expects the acquisition to be accretive to distributable cash flow per share in the first full year of ownership.
Similarly, Enbridge announced last month that it had agreed to acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash, further bolstering its presence in the prolific Permian Basin. The acquired **** ets have an average remaining contract life of about 10 years, providing stable long-term cash flows.
#visibility #target
However, BMO Capital sees this pullback as an opportunity and on September 15, the firm upgraded ENB from 'Market Perform' to 'Outperform', while also slightly raising its price target from C$79 to C$79.50. The target boost implies an upside of 18% from the current levels.
The **** yst believes that Enbridge's scale, limited commodity exposure, and diversified **** ets are underappreciated. BMO also cited the company's improving visibility on growth, robust backlog, opportunistic acquisitions, and improved balance sheet as reasons behind the upgrade.
Enbridge's aggressive expansion strategy adds significantly to its bull case. The company announced on September 9 that it would acquire Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its US liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other **** ets. The midstream operator expects the acquisition to be accretive to distributable cash flow per share in the first full year of ownership.
Similarly, Enbridge announced last month that it had agreed to acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash, further bolstering its presence in the prolific Permian Basin. The acquired **** ets have an average remaining contract life of about 10 years, providing stable long-term cash flows.
#visibility #target
1 month ago
The S&P 500 Index ($SPX) (SPY) closed up by +0.17% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.67%. December E-mini S&P futures (ESZ26) rose +0.20%, and December E-mini Nasdaq futures (NQZ26) rose +0.70%.
Stock indexes settled mixed on Friday, with the broader market recovering from early losses as short covering emerged after crude oil prices gave up an early advance and fell more than -1% on hopes that diplomacy could resume crude flows from the Middle East. Stock indexes also found support from strength in chipmakers and AI-infrastructure stocks, along with a rally in cryptocurrency-exposed stocks.
Elon Musk, Who Became the World's First Trillionaire, Still Sleeps in a Tiny $50,000 House Where His Mom Uses the Garage — 'It's Kinda Awesome Though'
How to Play AMZN Stock as Amazon Unveils Project Mercury
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
#index #Friday #mini
Stock indexes settled mixed on Friday, with the broader market recovering from early losses as short covering emerged after crude oil prices gave up an early advance and fell more than -1% on hopes that diplomacy could resume crude flows from the Middle East. Stock indexes also found support from strength in chipmakers and AI-infrastructure stocks, along with a rally in cryptocurrency-exposed stocks.
Elon Musk, Who Became the World's First Trillionaire, Still Sleeps in a Tiny $50,000 House Where His Mom Uses the Garage — 'It's Kinda Awesome Though'
How to Play AMZN Stock as Amazon Unveils Project Mercury
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
#index #Friday #mini
1 month ago
The dollar index (DXY00) fell from a 7-week high on Friday and finished down by -0.03%. The dollar gave its advance on Friday on weaker-than-expected US economic news that showed Aug manufacturing production and Aug leading indicators unexpectedly declined. Also, Friday's -1% fall in WTI crude oil eased inflation expectations and could persuade the Fed to loosen monetary policy, a bearish factor for the dollar.
The dollar initially moved higher on Friday on weakness in the yen, which fell to a 2-week low today. Higher T-note yields on Friday also supported the dollar. The dollar also has carryover support from Wednesday when the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year. The dollar fell from its best level after US
Dollar Gains on Yen Weakness and Higher T-note Yields
Wall Street's Favorite Safe Haven Could Be In Trouble. How Investors Should Play Gold Here.
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#Friday #yields
The dollar initially moved higher on Friday on weakness in the yen, which fell to a 2-week low today. Higher T-note yields on Friday also supported the dollar. The dollar also has carryover support from Wednesday when the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year. The dollar fell from its best level after US
Dollar Gains on Yen Weakness and Higher T-note Yields
Wall Street's Favorite Safe Haven Could Be In Trouble. How Investors Should Play Gold Here.
Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!
#Friday #yields
1 month ago
October WTI crude oil (CLV26) closed down -1.61 (-1.58%) on Friday, and October RBOB gasoline (RBV26) closed up +0.0203 (+0.58%).
Crude oil and gasoline prices settled mixed on Friday. Crude prices were under pressure on Friday on hopes that diplomacy could end hostilities in the Middle East, leading to the resumption of crude flows from the region.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Supported by Middle East Supply Disruptions
Nat-Gas Prices Rebound on Pre-Weekend Short Covering
#crude
Crude oil and gasoline prices settled mixed on Friday. Crude prices were under pressure on Friday on hopes that diplomacy could end hostilities in the Middle East, leading to the resumption of crude flows from the region.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Supported by Middle East Supply Disruptions
Nat-Gas Prices Rebound on Pre-Weekend Short Covering
#crude
1 month ago
October Nymex natural gas (NGV26) on Friday closed up +0.011 (+0.38%).
Nat-gas prices recovered from a 1-week low on Friday and settled higher on some pre-weekend short covering. Nat-gas prices initially moved lower on Friday amid forecasts of cooler US weather, which could reduce nat-gas demand from electricity providers for air conditioning. The Commodity Weather Group said Friday that forecasts shifted cooler, with above-average temperatures now covering a smaller portion of the South and Southeast from September 23 to October 2.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Retreat on Hopes Middle East Energy Exports to Recover
Crude Prices Supported by Middle East Supply Disruptions
#prices #east #forecasts
Nat-gas prices recovered from a 1-week low on Friday and settled higher on some pre-weekend short covering. Nat-gas prices initially moved lower on Friday amid forecasts of cooler US weather, which could reduce nat-gas demand from electricity providers for air conditioning. The Commodity Weather Group said Friday that forecasts shifted cooler, with above-average temperatures now covering a smaller portion of the South and Southeast from September 23 to October 2.
JPMorgan Gives Up Forecasting Iran War Endgame as Trump Tells Reporters 'Anything Could Happen With Me'
Crude Prices Retreat on Hopes Middle East Energy Exports to Recover
Crude Prices Supported by Middle East Supply Disruptions
#prices #east #forecasts
1 month ago
Happy Friday, traders. Welcome to our weekly market wrap, where we take a look back at these last five trading days with a focus on the market news, economic data, and headlines that had the most impact on gold prices and other key correlated ****** ets—and may continue to in the future.
So, what kind of week has it been?
Gold took a more volatile path than expected but rebounded from a post-FOMC low near $4,260/oz to trade just above $4,350/oz shortly after the US market open on Friday, putting the yellow metal in position for a moderate weekly gain.
The Federal Reserve delivered the week's main event on Wednesday, unanimously raising policy rates by 25 basis points. Gold's sharp initial drop appeared tied less to the hike itself than to projections showing elevated inflation expectations and another 25-basis-point increase before the end of 2026.
Thursday brought the countermove as crude oil slid back toward and then below $100 per barrel, US Treasury yields eased, and gold recovered to around $4,360/oz. The Bank of ****** an's overnight rate hike to 1.25% added another tailwind into Friday.
#Friday #weekly #welcome
So, what kind of week has it been?
Gold took a more volatile path than expected but rebounded from a post-FOMC low near $4,260/oz to trade just above $4,350/oz shortly after the US market open on Friday, putting the yellow metal in position for a moderate weekly gain.
The Federal Reserve delivered the week's main event on Wednesday, unanimously raising policy rates by 25 basis points. Gold's sharp initial drop appeared tied less to the hike itself than to projections showing elevated inflation expectations and another 25-basis-point increase before the end of 2026.
Thursday brought the countermove as crude oil slid back toward and then below $100 per barrel, US Treasury yields eased, and gold recovered to around $4,360/oz. The Bank of ****** an's overnight rate hike to 1.25% added another tailwind into Friday.
#Friday #weekly #welcome
1 month ago
Sept 18 (Reuters) - US equity funds recorded outflows for a fourth consecutive week in the week to September 18, as rising crude oil prices heightened inflation concerns and expectations of a Federal Reserve rate hike added to investor caution ahead of its policy decision.
US equity funds recorded net redemptions of $31.44 billion during the week, largely matching the $32 billion withdrawn a week earlier, LSEG Lipper data showed.
Crude oil prices rose to four-month highs during the week, fueling inflation concerns and lifting Treasury yields, which weighed on growth-oriented funds.
The Fed raised interest rates by 25 basis points on Wednesday and signaled that further tightening may be needed to curb inflation fueled by higher energy costs linked to the war in Iran.
Investors withdrew $28.71 billion, $1.73 billion and $3.16 billion from US large-cap, mid-cap and multi-cap funds, respectively. In contrast, small-cap funds attracted $568 million in weekly inflows.
#funds #recorded #concerns
US equity funds recorded net redemptions of $31.44 billion during the week, largely matching the $32 billion withdrawn a week earlier, LSEG Lipper data showed.
Crude oil prices rose to four-month highs during the week, fueling inflation concerns and lifting Treasury yields, which weighed on growth-oriented funds.
The Fed raised interest rates by 25 basis points on Wednesday and signaled that further tightening may be needed to curb inflation fueled by higher energy costs linked to the war in Iran.
Investors withdrew $28.71 billion, $1.73 billion and $3.16 billion from US large-cap, mid-cap and multi-cap funds, respectively. In contrast, small-cap funds attracted $568 million in weekly inflows.
#funds #recorded #concerns
1 month ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Silver (SI=F) December futures opened at $65.76 per ounce on Friday, September 18, 2026, down 0.5% from Thursday's close but more than $2 higher than yesterday's opening price. Silver prices surged this morning, reaching $67.47 as of 7:05 a.m. ET.
Until today, silver prices bounced around the $63 to $64 range, but broke out of those bookends by a wide margin this morning. Today's opening price set the highest opening price of the week, and silver is surging this morning, hitting a high of $67.89.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
And oil prices are responding as well. Wednesday morning, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday at this time, prices were at over $99 a barrel, and this morning, they're $98.51 as of 7:05 a.m. ET.
#disclosure
Silver (SI=F) December futures opened at $65.76 per ounce on Friday, September 18, 2026, down 0.5% from Thursday's close but more than $2 higher than yesterday's opening price. Silver prices surged this morning, reaching $67.47 as of 7:05 a.m. ET.
Until today, silver prices bounced around the $63 to $64 range, but broke out of those bookends by a wide margin this morning. Today's opening price set the highest opening price of the week, and silver is surging this morning, hitting a high of $67.89.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
And oil prices are responding as well. Wednesday morning, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday at this time, prices were at over $99 a barrel, and this morning, they're $98.51 as of 7:05 a.m. ET.
#disclosure
1 month ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Gold (GC=F) December futures opened at $4,381.60 per troy ounce on Friday, September 18, 2026, down 0.4% from Thursday's closing price. Gold is moving upward this morning at $4,421.40 per troy ounce as of 6:46 a.m. ET.
Gold prices have held in the $4,300 range since last Friday, but this morning they broke above $4,400, hitting a weekly high of $4,439.80.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
Oil prices continue to move lower as a result. On Wednesday at this time, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday morning, prices were at over $99 a barrel, and this morning, they're $98.46 as of 6:39 a.m. ET.
#morning #prices #ounce #barrel
Gold (GC=F) December futures opened at $4,381.60 per troy ounce on Friday, September 18, 2026, down 0.4% from Thursday's closing price. Gold is moving upward this morning at $4,421.40 per troy ounce as of 6:46 a.m. ET.
Gold prices have held in the $4,300 range since last Friday, but this morning they broke above $4,400, hitting a weekly high of $4,439.80.
The Fed's decision to raise rates for the first time in three years, combined with the ongoing restoration of Saudi Arabia's key East-West pipeline, has prompted inflation concerns to fade among investors.
Oil prices continue to move lower as a result. On Wednesday at this time, Brent crude (BZ=F) prices were over $107 a barrel. Yesterday morning, prices were at over $99 a barrel, and this morning, they're $98.46 as of 6:39 a.m. ET.
#morning #prices #ounce #barrel
1 month ago
Oil prices have been on a wild ride this year, and most investors **** ume the story is simple: Less crude moving through the Strait of Hormuz means higher prices at the pump.
Exxon Mobil's leadership says that take misses the real problem.
Speaking at the Barclays 40th Annual Energy Power Conference on Sept. 9, Chief Financial Officer Neil Hansen told **** ysts the bigger threat to the energy system isn't crude supply, but refining.
The distinction matters for anyone holding Exxon Mobil (XOM) stock or watching gas prices climb, as it changes how long the pain might last and which part of the business could benefit.
Hansen explained that when a shock like the Middle East conflict unfolds, markets usually respond in a similar pattern.
#hansen #energy
Exxon Mobil's leadership says that take misses the real problem.
Speaking at the Barclays 40th Annual Energy Power Conference on Sept. 9, Chief Financial Officer Neil Hansen told **** ysts the bigger threat to the energy system isn't crude supply, but refining.
The distinction matters for anyone holding Exxon Mobil (XOM) stock or watching gas prices climb, as it changes how long the pain might last and which part of the business could benefit.
Hansen explained that when a shock like the Middle East conflict unfolds, markets usually respond in a similar pattern.
#hansen #energy
1 month ago
On September 16, Evolution Petroleum Corporation (NYSEAMERICAN:EPM) held its fiscal fourth-quarter and full-year 2026 earnings call, and the numbers told a story of a company climbing out of a rough patch. Revenue jumped 20% sequentially to $24.2 million as oil prices realized before hedge settlements shot up 49% year over year to $90.74 a barrel. Adjusted EBITDA more than doubled to $6.5 million. After a bruising third quarter, the fourth quarter finally looked like the recovery management had promised investors back in May.
The fourth-quarter turnaround wasn't just about crude. NGL prices realized $32.49 a barrel, up 27% year over year, and because Evolution leaves its NGL production entirely unhedged, every dollar of that gain flowed straight through. That combination of higher liquids pricing, growing production, and the roll-off of a prior-period transportation adjustment at the Delhi Field pushed operating cash flow to $6.8 million in the quarter, nearly double the $3.5 million generated in the third quarter.
Behind the quarterly numbers sits a longer-term shift in how Evolution makes money. The company closed a roughly $16 million acquisition of mineral and royalty acreage in the Permian's Midland Basin after the fiscal year ended, adding about 3,420 net royalty acres and more than 200 barrels of oil equivalent per day of current production, all without Evolution spending a dime on development. That mirrors what's already happening in the SCOOP/STACK play, where fourth-quarter production climbed 14% year over year to 1,275 BOE per day while unit operating costs fell to $10.33 a barrel. Evolution also replaced more than 100% of the 2.6 million barrels of oil equivalent it produced during the year, ending fiscal 2026 with 27.2 million barrels of proved reserves, an outcome that matters directly to a dividend now in its 52nd consecutive quarter.
Not every part of the business bounced back. Average daily production fell 4% year over year to 6,901 barrels of oil equivalent per day, largely because the flush production from new Chaveroo wells that boosted last year's fourth quarter has since tapered off. Natural gas pricing remained the softest spot in the portfolio, especially at the Jonah Field, where CEO Kelly Loyd said "regional differentials have weighed on realizations" even as broader demand for gas keeps growing. CFO Ryan Stash noted that stronger oil and NGL results helped offset "continued weakness in natural gas realizations, particularly at Jonah."
#barrel
The fourth-quarter turnaround wasn't just about crude. NGL prices realized $32.49 a barrel, up 27% year over year, and because Evolution leaves its NGL production entirely unhedged, every dollar of that gain flowed straight through. That combination of higher liquids pricing, growing production, and the roll-off of a prior-period transportation adjustment at the Delhi Field pushed operating cash flow to $6.8 million in the quarter, nearly double the $3.5 million generated in the third quarter.
Behind the quarterly numbers sits a longer-term shift in how Evolution makes money. The company closed a roughly $16 million acquisition of mineral and royalty acreage in the Permian's Midland Basin after the fiscal year ended, adding about 3,420 net royalty acres and more than 200 barrels of oil equivalent per day of current production, all without Evolution spending a dime on development. That mirrors what's already happening in the SCOOP/STACK play, where fourth-quarter production climbed 14% year over year to 1,275 BOE per day while unit operating costs fell to $10.33 a barrel. Evolution also replaced more than 100% of the 2.6 million barrels of oil equivalent it produced during the year, ending fiscal 2026 with 27.2 million barrels of proved reserves, an outcome that matters directly to a dividend now in its 52nd consecutive quarter.
Not every part of the business bounced back. Average daily production fell 4% year over year to 6,901 barrels of oil equivalent per day, largely because the flush production from new Chaveroo wells that boosted last year's fourth quarter has since tapered off. Natural gas pricing remained the softest spot in the portfolio, especially at the Jonah Field, where CEO Kelly Loyd said "regional differentials have weighed on realizations" even as broader demand for gas keeps growing. CFO Ryan Stash noted that stronger oil and NGL results helped offset "continued weakness in natural gas realizations, particularly at Jonah."
#barrel
1 month ago
If you thought a decline in oil prices would bring some relief at gas and diesel outlets, we're sorry. It didn't happen.
Oil prices did fall on Sept. 16, as much as 3.5% during the day. But the story was different for motorists.
Nationally, the price of gasoline climbed nearly 1% from a day earlier and is up more than 50% so far in 2026.
Related: Costco limits motor oil purchases as crude hits 4-month highs
AAA Fuels put the average price of gasoline at $4.367 a gallon on Sept. 16, up 0.9% from a day earlier and 7% in September alone. GasBuddy's late-afternoon average was $4.423 a gallon, up from $4.359 a day earlier.
#sept #Gallon
Oil prices did fall on Sept. 16, as much as 3.5% during the day. But the story was different for motorists.
Nationally, the price of gasoline climbed nearly 1% from a day earlier and is up more than 50% so far in 2026.
Related: Costco limits motor oil purchases as crude hits 4-month highs
AAA Fuels put the average price of gasoline at $4.367 a gallon on Sept. 16, up 0.9% from a day earlier and 7% in September alone. GasBuddy's late-afternoon average was $4.423 a gallon, up from $4.359 a day earlier.
#sept #Gallon
1 month ago
Corn futures were down 1 to 4 3/4 cents on the Thursday session. The CmdtyView national average Cash Corn price was down 3 3/4 cents at $4.85 1/4. Crude oil backed off by $1.34 on the day, to add some pressure.
Export Sales data showed 1.027 MMT in corn sales 2026/27 in the week ending on September 10. That was still down 16.6% from the same week last year. Mexico was the top buyer of 626,000 MT, with **** an in for 150,200 MT.
Adequate Supplies Pressure Cocoa Prices
Coffee Prices Retreat as Global Supplies Improve
Coffee Prices Settle Lower as Supply Situation Improves
#supplies #pressure #thursday
Export Sales data showed 1.027 MMT in corn sales 2026/27 in the week ending on September 10. That was still down 16.6% from the same week last year. Mexico was the top buyer of 626,000 MT, with **** an in for 150,200 MT.
Adequate Supplies Pressure Cocoa Prices
Coffee Prices Retreat as Global Supplies Improve
Coffee Prices Settle Lower as Supply Situation Improves
#supplies #pressure #thursday
1 month ago
US stocks rebounded on Thursday as oil prices edged lower and a Fed rate hike on Wednesday offered some relief that the central bank was working to contain inflation.
The Dow Jones Industrial Average (^DJI) rose 0.6%, while the S&P 500 (^GSPC) climbed 1.1%. The tech-heavy Nasdaq Composite (^IXIC) jumped 1.7%, rebounding from a post-Fed-hike slump on Wednesday.
Stocks recovered as investors **** sed Federal Reserve Chairman Kevin Warsh's hawkish rhetoric, which **** ysts said helped restore the Fed's credibility on inflation. On Wednesday, the Federal Reserve raised interest rates by 25 basis points for the first time in three years and projected one more rate hike this year.
The decision drew the ire of President Trump, who called for lower interest rates and said he had spoken with Warsh ahead of the FOMC meeting. "You might as well vote with the board because it's not going to matter," Trump said he told Warsh.
Oil prices, meanwhile, ticked lower as US Energy Secretary Chris Wright said Saudi Arabia's East-West pipeline, which has become a key alternative route for oil stuck in the Strait of Hormuz, would be restored soon. Brent crude (BZ=F), the global benchmark, changed hands at $104 per barrel.
#reserve #Trump
The Dow Jones Industrial Average (^DJI) rose 0.6%, while the S&P 500 (^GSPC) climbed 1.1%. The tech-heavy Nasdaq Composite (^IXIC) jumped 1.7%, rebounding from a post-Fed-hike slump on Wednesday.
Stocks recovered as investors **** sed Federal Reserve Chairman Kevin Warsh's hawkish rhetoric, which **** ysts said helped restore the Fed's credibility on inflation. On Wednesday, the Federal Reserve raised interest rates by 25 basis points for the first time in three years and projected one more rate hike this year.
The decision drew the ire of President Trump, who called for lower interest rates and said he had spoken with Warsh ahead of the FOMC meeting. "You might as well vote with the board because it's not going to matter," Trump said he told Warsh.
Oil prices, meanwhile, ticked lower as US Energy Secretary Chris Wright said Saudi Arabia's East-West pipeline, which has become a key alternative route for oil stuck in the Strait of Hormuz, would be restored soon. Brent crude (BZ=F), the global benchmark, changed hands at $104 per barrel.
#reserve #Trump
1 month ago
The S&P 500 Index ($SPX) (SPY) closed up by +1.14% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.73%. September E-mini S&P futures (ESU26) rose +1.10%, and September E-mini Nasdaq futures (NQU26) rose +1.67%.
Stock indexes settled sharply higher on Thursday as falling oil prices eased inflation concerns and knocked bond yields lower. WTI crude fell nearly -1% on Thursday amid signs that supply disruptions in the Middle East are set to ease, bolstering hopes that inflation can be kept under control. The 10-year T-note yield fell -7 bp to 4.94%. T-note yields also fell after the Fed's +25 bp rate hike on Wednesday reassured investors that the Fed is determined to tame inflation.
Mark Cuban Says He Was Dizzy for Months, So He Built a VR Fix That Does at Home 'Much Of What A 180k Machine' Does
Bank of America Just Declared a 'Generational Entry Point' in U.S. Bonds. Why Investors Should Be Backing Up the Truck on Treasuries Here.
Nvidia, OpenAI, and Oracle's $745B Financing Circle Just Hit Its First Stress Test: A Fed Rate Hike
#closed
Stock indexes settled sharply higher on Thursday as falling oil prices eased inflation concerns and knocked bond yields lower. WTI crude fell nearly -1% on Thursday amid signs that supply disruptions in the Middle East are set to ease, bolstering hopes that inflation can be kept under control. The 10-year T-note yield fell -7 bp to 4.94%. T-note yields also fell after the Fed's +25 bp rate hike on Wednesday reassured investors that the Fed is determined to tame inflation.
Mark Cuban Says He Was Dizzy for Months, So He Built a VR Fix That Does at Home 'Much Of What A 180k Machine' Does
Bank of America Just Declared a 'Generational Entry Point' in U.S. Bonds. Why Investors Should Be Backing Up the Truck on Treasuries Here.
Nvidia, OpenAI, and Oracle's $745B Financing Circle Just Hit Its First Stress Test: A Fed Rate Hike
#closed
1 month ago
The dollar index (DXY00) fell from a new 1.5-month high on Thursday and finished down by -0.03%. The dollar posted modest losses on Thursday as a sharp rally in stocks curbed demand for dollar liquidity. Lower T-note yields on Thursday also weighed on the dollar.
Dollar losses were limited Thursday after US weekly jobless claims unexpectedly fell to an 8-week low, signaling a strong labor market. The dollar also has carryover support from Wednesday when the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year.
Dollar Soars as Fed Hikes Rates and Signals More to Come
Dollar Weakens with Crude Oil Prices and T-Note Yields
Dollar Posts Modest Gains Ahead of Expected Fed Rate Hike
#modest #rates
Dollar losses were limited Thursday after US weekly jobless claims unexpectedly fell to an 8-week low, signaling a strong labor market. The dollar also has carryover support from Wednesday when the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year.
Dollar Soars as Fed Hikes Rates and Signals More to Come
Dollar Weakens with Crude Oil Prices and T-Note Yields
Dollar Posts Modest Gains Ahead of Expected Fed Rate Hike
#modest #rates
1 month ago
October WTI crude oil (CLV26) closed down -0.52 (-0.51%) on Thursday, and October RBOB gasoline (RBV26) closed up +0.0223 (+0.64%).
Crude oil and gasoline prices settled mixed on Thursday, with gasoline climbing to a 1.75-month nearest-futures high. Crude prices fell on Thursday amid signs that supply disruptions in the Middle East are set to ease, potentially boosting global oil supplies. However, gasoline prices rose on Thursday after Goldman Sachs said that gasoline supplies are set to tighten as refiners switch output from gasoline to diesel due to record-high diesel prices.
Crude Oil Prices Sharply Lower as Middle East Disruptions Ease
Crude Oil Prices Retreat as Supply Fears Ease
If You Missed the Nancy Pelosi Rally, Here's the Case for Buying Bloom Energy Stock Now
#october
Crude oil and gasoline prices settled mixed on Thursday, with gasoline climbing to a 1.75-month nearest-futures high. Crude prices fell on Thursday amid signs that supply disruptions in the Middle East are set to ease, potentially boosting global oil supplies. However, gasoline prices rose on Thursday after Goldman Sachs said that gasoline supplies are set to tighten as refiners switch output from gasoline to diesel due to record-high diesel prices.
Crude Oil Prices Sharply Lower as Middle East Disruptions Ease
Crude Oil Prices Retreat as Supply Fears Ease
If You Missed the Nancy Pelosi Rally, Here's the Case for Buying Bloom Energy Stock Now
#october
1 month ago
October Nymex natural gas (NGV26) on Thursday closed up +0.010 (+0.35%).
Nat-gas prices settled higher on Thursday on a smaller-than-expected build in weekly nat-gas storage. The EIA reported on Thursday that nat-gas inventories rose by +44 bcf the week ended September 11, below expectations of +48 bcf.
Crude Oil Prices Sharply Lower as Middle East Disruptions Ease
Crude Oil Prices Retreat as Supply Fears Ease
If You Missed the Nancy Pelosi Rally, Here's the Case for Buying Bloom Energy Stock Now
#sharply
Nat-gas prices settled higher on Thursday on a smaller-than-expected build in weekly nat-gas storage. The EIA reported on Thursday that nat-gas inventories rose by +44 bcf the week ended September 11, below expectations of +48 bcf.
Crude Oil Prices Sharply Lower as Middle East Disruptions Ease
Crude Oil Prices Retreat as Supply Fears Ease
If You Missed the Nancy Pelosi Rally, Here's the Case for Buying Bloom Energy Stock Now
#sharply
1 month ago
On September 11, a caller praised The Boeing Company's (NYSE:BA) CEO and asked when the company would overcome the ongoing labor uncertainty and finally move beyond years of sideways stock performance. Mad Money host Jim Cramer replied:
I think that Boeing is ready to go up. But here's the problem. Every time crude goes up a dollar, the stock goes down a dollar. And that, think about it, that was actually the ratio. I did some work on this. And because today crude was down, Boeing went up $5... No, it's so stupid because, in truth, the airlines need more planes because the planes are more fuel-efficient. So they actually do better in this environment, but ******* ody cares. They know that airlines have to borrow money to buy planes and rates are higher, and they think that oil somehow's bad. But what ends up happening is the stock does nothing. I think it's about to go up because I think oil might be peaking unless there's some catastrophe over there.
The Boeing Company's (NYSE:BA) second-quarter results showed improving cash generation, but profitability remained weak. Revenue rose 8% year over year to $24.6 billion, while operating cash flow reached $1.4 billion and free cash flow was $631 million. Its total backlog reached a record $715 billion, including more than 6,200 commercial airplanes. CEO Kelly Ortberg said, "We're ramping up production just as we planned. That's driving higher revenues and improved cash flow." He also said there's more work ahead to ramp production, complete commercial-aircraft certifications and uphold customer commitments. Boeing said the 737-7 and 737-10 had completed flight testing, with deliveries expected to begin in 2027.
The Boeing Company's (NYSE:BA) large backlog has yet to translate into consistent commercial-aircraft profitability, leaving execution and margins as important concerns for investors. Commercial Airplanes delivered 171 aircraft in the second quarter but still posted a $322 million operating loss and a negative 2.7% operating margin. It also reported a $428 million GAAP net loss.
The balance sheet leaves less room for further setbacks. The company ended June with $45.9 billion of consolidated debt against $20 billion of cash and investments in marketable securities. The FAA certified the 737-7 on August 3, while Boeing continues working toward certification of the 737-10. First deliveries of the variants are expected in 2027. The company also recorded $280 million of losses on the VC-25B program in the quarter.
#boeing #cash #commercial
I think that Boeing is ready to go up. But here's the problem. Every time crude goes up a dollar, the stock goes down a dollar. And that, think about it, that was actually the ratio. I did some work on this. And because today crude was down, Boeing went up $5... No, it's so stupid because, in truth, the airlines need more planes because the planes are more fuel-efficient. So they actually do better in this environment, but ******* ody cares. They know that airlines have to borrow money to buy planes and rates are higher, and they think that oil somehow's bad. But what ends up happening is the stock does nothing. I think it's about to go up because I think oil might be peaking unless there's some catastrophe over there.
The Boeing Company's (NYSE:BA) second-quarter results showed improving cash generation, but profitability remained weak. Revenue rose 8% year over year to $24.6 billion, while operating cash flow reached $1.4 billion and free cash flow was $631 million. Its total backlog reached a record $715 billion, including more than 6,200 commercial airplanes. CEO Kelly Ortberg said, "We're ramping up production just as we planned. That's driving higher revenues and improved cash flow." He also said there's more work ahead to ramp production, complete commercial-aircraft certifications and uphold customer commitments. Boeing said the 737-7 and 737-10 had completed flight testing, with deliveries expected to begin in 2027.
The Boeing Company's (NYSE:BA) large backlog has yet to translate into consistent commercial-aircraft profitability, leaving execution and margins as important concerns for investors. Commercial Airplanes delivered 171 aircraft in the second quarter but still posted a $322 million operating loss and a negative 2.7% operating margin. It also reported a $428 million GAAP net loss.
The balance sheet leaves less room for further setbacks. The company ended June with $45.9 billion of consolidated debt against $20 billion of cash and investments in marketable securities. The FAA certified the 737-7 on August 3, while Boeing continues working toward certification of the 737-10. First deliveries of the variants are expected in 2027. The company also recorded $280 million of losses on the VC-25B program in the quarter.
#boeing #cash #commercial
1 month ago
The U.S. Attorney's Office for the Southern District of New York filed a civil forfeiture complaint on Sep. 14 seeking approximately $61 million in cryptocurrency linked to black-market sales of Iranian crude oil.
According to the DOJ, the funds were allegedly meant to support the Iranian government and its military, including the Islamic Revolutionary Guard Corps, or IRGC. The U.S. government has designated the IRGC as a terrorist organization.
A civil forfeiture complaint is a legal action in which the government seeks to seize money or property it believes was involved in or resulted from criminal activity. It is not a criminal charge, the allegations are not proven until a court rules in the government's favor.
Related: Cathie Wood dumps $65 million in crypto ahead of CLARITY vote
The complaint alleges that two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts at Binance to launder proceeds from sanctioned Iranian oil sales. Binance is the world's largest cryptocurrency exchange by daily trading volume.
#government
According to the DOJ, the funds were allegedly meant to support the Iranian government and its military, including the Islamic Revolutionary Guard Corps, or IRGC. The U.S. government has designated the IRGC as a terrorist organization.
A civil forfeiture complaint is a legal action in which the government seeks to seize money or property it believes was involved in or resulted from criminal activity. It is not a criminal charge, the allegations are not proven until a court rules in the government's favor.
Related: Cathie Wood dumps $65 million in crypto ahead of CLARITY vote
The complaint alleges that two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts at Binance to launder proceeds from sanctioned Iranian oil sales. Binance is the world's largest cryptocurrency exchange by daily trading volume.
#government
1 month ago
Past week performance: +2.4%
52-week range: $146 to $218
Valuation model target price: $220
Implied upside: 0.9% over 2.3 years
Chevron (CVX) stock barely budged this week, but the commentary coming out of the company was anything but quiet. CEO Mike Wirth told an energy conference that the strategic buffers built up in global crude markets after the recent Iran conflict are now "played out." He added that it's "harder to envision a scenario where prices soften quickly," a notable shift from an executive who typically avoids bold near-term price calls.
#wirth
52-week range: $146 to $218
Valuation model target price: $220
Implied upside: 0.9% over 2.3 years
Chevron (CVX) stock barely budged this week, but the commentary coming out of the company was anything but quiet. CEO Mike Wirth told an energy conference that the strategic buffers built up in global crude markets after the recent Iran conflict are now "played out." He added that it's "harder to envision a scenario where prices soften quickly," a notable shift from an executive who typically avoids bold near-term price calls.
#wirth
1 month ago
The dollar index (DXY00) rallied to a 1.5-month high on Wednesday and finished up by +0.64%. The dollar found support Wednesday on signs of US economic growth after Aug retail sales rose more than expected. The dollar raced to its high Wednesday afternoon after the FOMC raised interest rates by 25 bp and signaled another rate hike by the end of the year. The dollar also found support after the FOMC raised its US 2026 GDP forecast and its core inflation estimate.
US Aug retail sales rose +1.2% m/m, stronger than expectations of +0.8% m/m and the biggest increase in 5 months. Aug retail sales ex-autos rose +1.4% m/m, stronger than expectations of +0.6% m/m.
Dollar Rises on Surging Crude Prices and T-Note Yields
Dollar Supported by Higher Crude Prices and T-Note Yields
Dollar Posts Modest Gains Ahead of Expected Fed Rate Hike
#prices
US Aug retail sales rose +1.2% m/m, stronger than expectations of +0.8% m/m and the biggest increase in 5 months. Aug retail sales ex-autos rose +1.4% m/m, stronger than expectations of +0.6% m/m.
Dollar Rises on Surging Crude Prices and T-Note Yields
Dollar Supported by Higher Crude Prices and T-Note Yields
Dollar Posts Modest Gains Ahead of Expected Fed Rate Hike
#prices
1 month ago
October WTI crude oil (CLV26) closed down -3.40 (-3.21%) on Wednesday, and October RBOB gasoline (RBV26) closed up +0.0198 (+0.57%).
Crude oil and gasoline prices settled mixed on Wednesday, with gasoline climbing to a 3-week nearest-futures high. Crude prices fell sharply on Wednesday as signs emerged that more crude supplies are reaching the market, easing supply concerns. Losses in crude accelerated on Wednesday after weekly EIA crude inventories fell less than expected and gasoline and distillate supplies rose more than expected. Also, Wednesday's rally in the dollar index ($DXY) to a 1.5-month high undercut energy prices.
Crude Oil Prices Retreat as Supply Fears Ease
Why UBS Just Turned Bearish on NuScale Power Stock
Crude Prices Soar as Global Oil Supplies Continue to Tighten
#crude #wednesday #supply #high
Crude oil and gasoline prices settled mixed on Wednesday, with gasoline climbing to a 3-week nearest-futures high. Crude prices fell sharply on Wednesday as signs emerged that more crude supplies are reaching the market, easing supply concerns. Losses in crude accelerated on Wednesday after weekly EIA crude inventories fell less than expected and gasoline and distillate supplies rose more than expected. Also, Wednesday's rally in the dollar index ($DXY) to a 1.5-month high undercut energy prices.
Crude Oil Prices Retreat as Supply Fears Ease
Why UBS Just Turned Bearish on NuScale Power Stock
Crude Prices Soar as Global Oil Supplies Continue to Tighten
#crude #wednesday #supply #high
