Oil

Oil
Oil Crash
Oil Price

Oil Swings as Traders Grapple With Recession Concerns, Demand

(Bloomberg) — Oil fluctuated as investors weighed concerns that a global slowdown will erode demand against still-solid physical market signals. West Texas Intermediate rose toward $109 a barrel after dropping more than 1% earlier in the session. Trading volumes will likely be weaker than usual on Monday given the holiday in the US for the […]

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Crude Oil
Oil

Iran Slashes the Cost of Its Oil to Compete With Russia in China

(Bloomberg) — Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. China has become an important destination for Russian oil as Moscow seeks to maintain flows following the fallout from its invasion of Ukraine. That’s led to increased competition […]

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Demand Destruction
Fuel Costs
Oil

Surging Fuel Costs Are Causing Demand Destruction, Says Vitol

(Bloomberg) — The global surge in the cost of fuel is starting to weigh on demand, according to the world’s biggest independent oil trader. Consumers are being hit by the run-up in gasoline, diesel and other oil products, Mike Muller, head of Asia at Vitol Group, said Sunday on a podcast produced by Dubai-based Gulf […]

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Global Economy
Oil
Russia

Germany Risks a Cascade of Utility Failures, Economy Chief Says

(Bloomberg) — Germany should prepare for deeper cuts in Russian gas supplies because President Vladimir Putin is pursuing a conscious strategy of driving up prices to undermine European unity, Economy Minister Robert Habeck said. “We aren’t dealing with erratic decisions but with economic warfare, completely rational and very clear,” Habeck, the deputy chancellor in Olaf […]

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Big Oil
Crude Oil
Oil
Oil Price

Oil Creeps Up as Markets Tighten Before Double Dose of US Data

(Bloomberg) — Oil edged higher for a fourth day as shipments from key Libyan ports were suspended, the latest factor compounding market tightness. West Texas Intermediate edged above $113 a barrel after gaining over the previous three sessions. Libya’s state oil company has suspended shipments from two key eastern ports amid renewed disruption in the […]

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Automotive
Daily Rundown
Financial Services
Healthcare Solutions
Oil
Pharmaceuticals

Pharmaceuticals, Financial Services, Hospitals, Automotive, Oil

First Financial Corporation (THFF) First Financial Corporation, through its subsidiaries, provides various financial services. It offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. The company also provides commercial loans primarily to expand a business or finance asset purchases. SIGA Technologies, Inc. (SIGA) SIGA Technologies, Inc., a commercial-stage pharmaceutical company, focuses on the […]

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Big Oil
Crude Oil
Energy Crisis
Oil

Conoco Sees Gas Volatility Lasting Years as it Invests in Qatar

(Bloomberg) –ConocoPhillips said volatility in global gas markets may last years, as it joined other Western energy firms by investing in a $29 billion project to boost Qatar’s exports of the fuel. The Houston-based company will buy a 3.1% holding in the North Field East project. Chief Executive Officer Ryan Lance announced the deal alongside […]

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Crude Oil
Fed Rate Hikes
Federal Reserve
Oil
Oil Price

Oil Steadies as Traders Weigh Outlook for Demand, Fed’s Path

(Bloomberg) — Oil steadied in Asia — after plunging almost 7% on Friday — as traders weighed prospects for higher near-term demand against concerns that aggressive US monetary tightening will lead to a recession. West Texas Intermediate traded above $109 a barrel after tumbling by the most since early April last week as escalating worries […]

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Oil

Oil Tumbles To $110 as Fed Signals Even More Hawkishness Ahead

(Bloomberg) — Oil fell the most in 5 weeks as Federal Reserve Chair Jerome Powell reiterated his will to curb the hottest inflation in decades with more aggressive rate hikes. West Texas Intermediate dropped to near $110, shedding as much as 6.3%. Federal Reserve Chair Jerome Powell this week openly endorsed for the first time […]

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Daily Rundown
Insurance
Investing
Oil
Semiconductor
Supply Chain

Insurance, Supply Chain, Semiconductor, Investing, Oil

BRP Group, Inc. (BRP) BRP Group, Inc. markets and sells insurance products and services in the United States. The company operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. JD.com, Inc. (JD) JD.com, Inc. provides supply chain-based technologies and services in the People’s Republic of China. The company offers computers, communication, and consumer electronics […]

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Oil

Biden Tells US Oil Refiners Record Profits Are ‘Not Acceptable’

(Bloomberg) — President Joe Biden told US oil refiners that unprecedented profit margins are unacceptable and called for “immediate action” to improve capacity as the soaring price of gasoline feeds record inflation and fears of a recession. “At a time of war, refinery profit margins well above normal being passed directly onto American families are […]

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