Crude oil best trading time

- A + A KUALA LUMPUR (Aug 12): The ringgit opened easier against the US dollar on Friday due to mixed sentiments and falling crude oil prices, said an analyst. At 9 am, the local currency fell to 4.4450/4495 versus the greenback from Thursday’s close of 4.4445/4460. The analyst said with the worries on inflation and global growth, as well as tighter financial conditions for the greenback, the local note is not expected to strengthen in the near term. He said the increase in US interest rate would put pressure on the ringgit. Meanwhile, the ringgit traded higher against a basket of major currencies. It rose against the Singapore dollar to 3.2441/2478 from 3.2456/2469 and gained versus the British pound to 5.4162/4217 from 5.4307/4326 previously. The local currency improved vis-a-vis the Japanese yen to 3.3351/3387 from 3.3516/3529 on Thursday and appreciated against the euro at 4.5846/5892 from 4.5934/5949 at yesterday’s closing. … [Read more...] about Ringgit depreciates versus US dollar on mixed sentiments, weak crude oil

- A + A HOUSTON (Aug 12): U.S. offshore oil producers Shell, Chevron and Equinor on Thursday halted operations pumping hundreds of thousands of barrels per day, citing an onshore pipeline leak that a local official said should take about a day to fix. The shut-ins are not expected to last but the number of facilities affected by the leak offered another example of how a relatively minor failure can affect a swath of U.S. energy infrastructure. The shut-ins could halt about 600,000 barrels per day of oil production, a person familiar with offshore operations said. A flange connecting two pipelines onshore in Louisiana failed and caused about two barrels of oil to spill onto the ground, said Chett Chiasson, executive director of Greater Lafourche Port Commission. A fix is expected to take about a day, he added. The spill halted operation of the Mars and Amberjack Pipelines that serve several oil production platforms off the Louisiana coast. It occurred at a booster … [Read more...] about Oil output halted at 7 U.S. Gulf platforms on pipeline outage

- A + A KUALA LUMPUR (August 12): China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves. In a report on Wednesday (Aug 10), state controlled Global Times said the discovery is the result of exploration in the Shunbei oil and gas field, touted to be one of the deepest commercial fields in the world, in the country’s Xinjiang region. The repory said Sinopec’s exploration program at Shunbei includes 117 wells, one of which strikes 9,300 meters in depth. Citing the director of China's Center for Energy Economics Research at Xiamen University, the Global Times said the newest discovery could supply the country’s oil demand for two years. Shunbei is estimated to have the capacity to produce 244 tonnes of crude oil and 970,000 cubic meters of natural gas per day, according to Sinopec. The Chinese are targeting the Tarim Basin as having the potential overall to … [Read more...] about China’s Sinopec makes oilfield discovery with 1.7 billion tonnes of oil reserves – state media

Share to Twitter Share to Linkedin The Philadelphia 76ers already overhauled their roster this offseason with the additions of P.J. Tucker, Danuel House Jr. and De'Anthony Melton, but they may not be done yet. On Wednesday, SNY's Ian Begley reported that "as of earlier this week, there were high-ranking members of the Sixers who've felt strongly" about discussing a potential Kevin Durant trade with the Brooklyn Nets. Begley also said Durant views the Sixers as a "welcome landing spot," while Frank Isola of the New York Dai DAI ly News added that Durant would like to play with James Harden again. Durant originally requested a trade from the Nets on June 30 , hours before free agency officially began. He reiterated that trade request this past weekend in a meeting with team governor Joe Tsai and said Tsai "needs to choose between Durant or the pairing of general manager Sean Marks and coach Steve Nash," according to Shams Charania of The … [Read more...] about Why A Kevin Durant Trade Is A Long Shot For The Sixers

Share to Twitter Share to Linkedin The Chicago Bulls are in a potentially difficult spot with guard Coby White, who is currently eligible for a contract extension. The 22-year-old will become a restricted free agent (RFA) in the summer of 2023 if he receives no extension, and that can be a bit of a drag for both parties. Look no further than the ongoing Collin Sexton situation in Cleveland these days. The former 24-point scorer has been offered $40 million over three seasons, which is substantially below market value for what he provides. Yet, the Cavs might get away with it due to the small market that remains out there. For White, the situation will be much the same next year, if he enters RFA. Seemingly, the Bulls should then be in the driver's seat and be able to dictate his future. There's some truth to that, but White's cap hold could complicate matters for Chicago. $22.2 million cap hold White is, indirectly, on the books for $22.2 million … [Read more...] about Extending Coby White Makes Future Trade Easier For Chicago Bulls

- A + A (Aug 11): Russia’s oil output is set to fall roughly 20% by the start of next year as a European Union import ban comes into force, according to the International Energy Agency. Gradual monthly declines will start as soon as this month as Russia cuts back refining, and will quicken as the embargo takes effect, the IEA said in a market report. The agency expects to see close to two million barrels a day shut in by the start of 2023, despite a healthy recovery in production in recent months. The EU is set to halt most crude purchases from Russia from Dec 5 in a bid to cut off revenue streams that the Kremlin uses to finance its war in Ukraine. From Feb 5, an EU ban on Russian oil-product shipments takes effect. Some one million barrels per day of Russian products and 1.3 million barrels per day of crude would have to find new homes due to the planned EU restrictions, according to the IEA estimates. Russia’s oil output has risen in the past three months, … [Read more...] about IEA sees Russia oil output down 20% when EU ban takes effect

Large oil and gas producers are lauding the Senate Democrats’ climate bill due to its green incentives and regulations on fossil fuels; however, smaller producers argue that the new taxes and fees included in the bill will kill their operations. Big oil is hailing the $369 billion climate bill for its steps to regulate the fossil fuel industry and promote green energy, according to Bloomberg. However, smaller, independent oil and gas companies are arguing that the bill’s numerous, costly regulations will threaten their industry’s development, according to an industry letter that was sent Tuesday night to the House Ways & Means Committee. (RELATED: ‘The Little Guys Get Swept Up’: Taxes In Senate Dems’ Climate Bill Threaten Independent Oil, Gas Producers) Exxon’s Darren Woods said the Democrats’ bill was “a step in the right direction” and Occidental’s Chief Executive Officer Vicki Hollub called the bill “very positive,” according to Bloomberg. BP and Shell also cheered … [Read more...] about Big Oil Is Backing Dems’ Climate Bill — Here’s Why

- A + A (Aug 11): A key measure of US producer prices unexpectedly fell in July for the first time in more than two years, largely reflecting a drop in energy costs and representing a welcome moderation in inflationary pressures. The producer price index for final demand decreased 0.5% from a month earlier and rose 9.8% from a year ago, Labor Department data showed Thursday. The pullback was due to a decline in the costs of goods, though services prices only edged up. Excluding the volatile food and energy components, the so-called core PPI rose 0.2% from June and 7.6% from a year earlier. Both the overall and core figures were softer than forecast. The figures suggest some pipeline inflationary pressures are beginning to ease, which could ultimately temper the pace of consumer price growth in coming months. Commodity prices, including oil, have dropped sharply in recent months, and there are indications that supply-chain conditions are improving. Treasury yields … [Read more...] about US producer prices fall for first time since early in pandemic

Ethereum: Even if many investors seek to trade digital assets via a short-term strategy to take advantage of the price movements, the best way to approach the cryptocurrency market is on a long-term basis. Right now, there are more than 18,000 cryptocurrencies in existence, which is truly astonishing. If you look to maximize your investment for long-term results, pick Ethereum. It’s a smart financial decision. In a world where the overall cost of living is rising faster than expected, holding onto ETH actually helps create wealth rather than maintain it. Ethereum’s digital currency, Ether, is deflationary. The selling point of Ethereum as a value asset boils down to its monetary policy, which is very predictable, and the blockchain, which is very secure. Seasoned investors know that making a profit doesn’t happen overnight. It requires long-term planning, not to mention a disciplined approach. What Are Some Strategies for Long-Term Investing? If you want to invest for … [Read more...] about Ethereum Is One of The Best Cryptocurrencies to Buy for the Long-Term

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Titan Company on August 5 reported a year on year growth of 1,200 percent or 13 times in its standalone profit after tax at Rs 793 crore in the June quarter. On a sequential basis, the profit increased 61.5 percent. Standalone revenue for the Tata group company rose 176 percent to Rs 8,961 crore. On a sequential basis, revenue rose 23 percent. “The financial year has begun well for us and we delivered a strong performance across our business segments,” said managing director CK Venkataraman. “Despite a challenging macro environment, the outlook for the remaining quarters looks positive and we continue to execute our investment plans in India as well as chosen international geographies.” The revenues and profit surge comes on a low base of last year which was impacted by the COVID second … [Read more...] about Titan profit surges 13 times in June quarter