crudeoil
Recently, both oil and gold prices surged due to rising tensions in the Middle East and the ongoing conflict between Ukraine and Russia. The US Defence Department announced plans to deploy a missile submarine to the Middle East, as Israel braces for a potential military attack by Iran following the assassination of a Hamas leader. This development has heightened concerns that the situation could escalate into a broader regional conflict. Additionally, Russia has begun extensive evacuations of civilians from Kursk and Belgorod as Ukrainian forces advance. On Tuesday, gold futures on Comex incre...
Euronews (English)
At the time of writing (13:52 CET) the price of US crude oil, also known as WTI, was up 3.56% at $77.39 per barrel, while Brent was up 3.08% to $80.48, as tensions in the Middle East prompt market volatility. It comes as Iran's Supreme Leader Ayatollah Ali Khamenei has sworn revenge on Israel over the killing of Hamas' political chief, in a shock assassination that risks escalating the conflict. Khamenei said Israel "prepared a harsh punishment for itself" after Ismail Haniyeh was killed in a predawn airstrike in the Iranian capital Tehran on Wednesday. "We consider his revenge as our duty," K...
Euronews (English)
Crude oil prices posed a two-week gaining streak and rose to the highest level in nearly two months last week due to optimism towards summer fuel consumption in the Northern Hemisphere, alongside a draw in the US stockpiles. The two-week gains in crude oil prices represent a 7% increase for both Brent and WTI futures. The Brent futures expiring on 25 September jumped to as high as $86.24 per barrel, the highest seen on 1 May on Friday before paring gains and opening at just above $84 per barrel on Monday. The WTI futures expiring on 4 August topped $82 per barrel for the first time since 30 Ap...
Euronews (English)
Saudi Aramco, formally known as the Saudi Arabian Oil Co., acknowledged the stock sale in a corporate disclosure online. It put the number of shares being offered at 1.545 billion, priced at between $7.12 and $7.73 a share. At the high range of the valuation, that would make the shares worth some $11.9 billion. They'll begin being sold on Sunday to institutional investors and on Monday to retail investors. Aramco has a market value of $1.8 trillion, making it the world’s sixth most valuable company behind Microsoft, Apple, NVIDIA, Google owner Alphabet and Amazon respectively. Weekly market re...
Euronews (English)
Crude oil prices have remained volatile this year due to geopolitical tensions and an uncertain outlook for global supply and demand. Brent and WTI futures prices peaked at $90 per barrel (bbl) and $87 per barrel (bbl) respectively in early April before pulling back to around $83 per barrel and $78 per barrel currently. In May, oil prices stabilised within a narrow range, with Brent futures fluctuating between $81 bbl and $84 bbl. Year-to-date, both Brent and WTI futures are up by approximately 5%, while the spot markets have shown greater strength, rising by about 10%. Oil prices found some s...
Euronews (English)
10y tested the top at 4.33%, and retreated back to the 4.23% support – but S&P 500 kept declining yesterday. The dollar and real assets were though less determined to move correspondingly, which means that stocks may hold up better today than the 4,365 (another suppozt zone, its upper border) hints at, equals we wouldn‘t get orderly selling continuation or acceleration into a crash till the closing bell. At the same time, this data light day won‘t be a genuinely VIX crush Friday one – the buyers can reasonably target 4,390 at best. The warning sign is accelerating decline in XLK below $166.50 ...
ValueWalk
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Energy Bet Paying OffMy big energy bet is paying off now that we are in the midst of peak seasonal demand for crude oil. Although I remain very positive on our dividend and growth stocks, Treasury bond yields soared this week to the highest level in almost a year in the wake of the U.S. government’s Treasury securities being downgraded. Specifically, Fitch Ratings on Tuesday cut its AAA rating on U.S. Treasury debt to AA+ due to worsening financial conditions and governance. The other thing that spoo...
ValueWalk
In hisDaily Market Notes report to investors, Louis Navellier wrote: Stocks grind higher, interest rates softer, gold breaks above $2,000, crude higher. Dow Catching UpAnother big week of earnings, with Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) on Thursday. Earnings have not disappointed overall and allowed the market to book further gains in July. The S&P is up over 3% for the month and may hit +20% YTD. The NASDAQ is up almost 4% for the month, 38% YTD. QQQ is up 3.8% in July, 45% YTD. The Dow has been playing a rapid game of catchup this month with its 13-day positive run and is up 3.1% ...
ValueWalk
In his podcast addressing the markets today, Louis Navellier offered the following commentary. A Lot More Doves Than HawksThe Fed should signal in its FOMC statement on Wednesday that it is effectively done raising key interest rates as inflation cools and Treasury bond yields settle down. There’s a great article in Bloomberg today scoring all the voting members of the Fed from hawks to centrist to doves. According to Bloomberg, there are a lot more doves and centrists than hawks. So there is a growing chance that we will not have a rate hike tomorrow. And even if we do have a rate hike tomorr...
ValueWalk
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Crude HijackingThe energy stocks I recommend have been especially strong in the past few weeks. They have been aided by the tension in the Middle East as Iran continues to hijack ships. As a result, the U.S. Navy dispatched two amphibious warships and thousands of Marines to the Middle East to counter Iranian threats. China imported 11.4 million barrels per day of crude oil in the first six months this year, which is 11.7% higher than a year ago. Interestingly, 2.13 million barrels per day of crude o...
ValueWalk
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