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Major U.S. stock indexes registered their biggest daily percentage drops since 2020 on Thursday and the dollar weakened as U.S. President Donald Trump’s drastic trade tariffs stoked fears of a global recession and led investors to seek safe-haven assets like bonds and the yen. S&P 500 companies lost a combined $2.4 trillion in stock market …
Elliott Investment Management said on Thursday that Phillips 66’s stock price could nearly double to $200 if the oil refiner sells or spins off its midstream business and puts more focus on refining and enhances oversight.The activist investor, which owns a $2.5 billion stake in the company, also slimmed down to four the number of …
Elliott Says Phillips 66 Share Price Could hit $200 if Changes are Made Read More »
Most investors knew things could turn turbulent this year given U.S. President Donald Trump’s return to power in the world’s biggest economy and financial market, but few predicted the kind of a rodeo ride it has been so far. Scan the surface and world stocks are almost where they started the year, while volatility gauges …
U.S. President Donald Trump said on Sunday he was “pissed off” at Russian President Vladimir Putin and will impose secondary tariffs of 25% to 50% on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine. Trump told NBC News he was angry after Putin last week …
(Reuters) – Oil prices rose in early Asian trading on Friday, and were set for their second consecutive weekly gains, after fresh U.S. sanctions on Iran and a new OPEC+ plan for seven members to cut output raised bets on tightening supply. Brent crude futures climbed 42 cents, or 0.6%, to $72.40 per barrel by …
Oil Set For Weekly Gain on Iran Sanctions, OPEC+ Plan to Rein in Overproduction Read More »
Summary • Macroeconomic concerns stemming from tariffs remain prevalent • Global demand firmer year on year and exceeded expectations, JP Morgan analysts say • Gasoline inventories fall more than expected, EIA data shows (Reuters) – Oil prices were largely steady on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline …
Oil Steady as Economic Concerns Weigh Despite Firm Demand Expectations Read More »
U.S. Energy Secretary Chris Wright said on Monday he was planning to work with Congress on cancelling previously mandated sales from the Strategic Petroleum Reserve as one way to address low stockpiles. Congress has mandated some 100 million barrels in sales from the reserve, the world’s largest emergency stockpile of crude oil, with a 7 …
Trump Administration Aims to Cancel Oil Reserve Sales, Support Small Nuclear Power Read More »
Summary • Brent and WTI fall more than 3% over the week • Trade war risks and OPEC+ supply increase weigh on market HOUSTON, March 7 (Reuters) – Oil prices gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with …
Oil Up, But Off Highs as Trump Warns New Russia Sanctions Possible Read More »
• Brent and WTI on track to fall more than 3% over the week • Trade war risks and OPEC+ supply increase weigh on market • China stimulus could cushion blow from tariffs, analyst says (Reuters) – Oil prices extended gains on Friday, rising more than $1 a barrel, after Russia’s Deputy Prime Minister Alexander …
Oil Rises after Russia’s Novak Says OPEC+ May Reverse Output Hike after April Read More »
President Trump defended his tariff plan, saying it would raise “trillions and trillions” in revenue and rebalance trading relationships, despite acknowledging it may cause economic pain. Summary by Bloomberg AI Trump’s speech focused on issues like transgender rights, migrant crime, and diversity, equity, and inclusion, with relatively little discussion of …
Congress Address Summary – Trump Hails Tariffs as US Economy Barrels Into Trade Wars Read More »
