Crude oil stock ticker

- A + A NEW YORK (Aug 12): Oil prices plunged around 2% on Friday (Aug 12), on expectations that supply disruptions in the US Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell US$1.45, or 1.5%, to settle at US$98.15 a barrel, while US West Texas Intermediate (WTI) crude fell US$2.25, or 2.4%, to settle at US$92.09 a barrel. Both contracts gained more than 2% on Thursday. "We are pulling back a little bit after the big run up yesterday," said Phil Flynn, an analyst at Price Futures group. Brent gained 3.4% this week after last week's 14% tumble on fears that rising inflation and interest rates will hit economic growth and demand for fuel. WTI rose 3.5%. Crews were expected to replace a damaged oil pipeline piece by the end of the day on Friday, a Louisiana port official said, allowing for the resumption of production at seven offshore US Gulf of … [Read more...] about Oil falls 2% on expectations that US Gulf supply disruption will ease

The past few weeks have offered up investors something along the lines of buried treasure in the form of two Hong Kong-based financial firms. Both Magic Empire Global and AMTD Digital recently went public and subsequently saw their share values skyrocket, earning some traders a nice return. But many hungry investors, who perhaps missed out on the rise of Magic Empire and AMTD, are wondering: When will the next gold vein appear? advertisement advertisement It may arrive today, as Treasure Global Inc., a Malaysia-based e-commerce company, IPOs , with shares expected to start trading on the Nasdaq under the ticker “TGL.” Two million shares will hit the market, and will initially be priced at $4. Treasure Global attempts to marry online commerce with physical retailers, and it has an app, called Zcity, which shoppers can use to find deals, get rebates, and more, according to its prospectus . It’s also working on a new platform aimed at food and … [Read more...] about Treasure Global IPO: What to know as the Malaysian e-commerce platform’s stock hits the Nasdaq

Five state-owned Chinese companies announced that they would delist from the New York Stock Exchange (NYSE) Friday, as tensions between China and the U.S. remain high and a dispute over regulatory issues remains unresolved, Reuters reported. Oil conglomerate Sinopec, China Life Insurance, Aluminum Corporation of China, PetroChina and the Sinopec subsidiary Sinopec Shanghai Petrochemical Co. all annouced they would delist from the NYSE at the end of August, Reuters reported . Companies listed on the NYSE are required by U.S. law to submit to U.S. auditing, which China has refused to do, leading to the possibility that Chinese companies remaining listed may be forcibly removed by the U.S., according to The Wall Street Journal . (RELATED: Here’s How Markets Reacted To Pelosi’s Taiwan Trip) “These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own … [Read more...] about Five Chinese Companies Leave NY Stock Exchange — Here’s Why More Could Follow

The freeze on petrol, diesel and LPG price revision despite rising cost will hit profitability of state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) this fiscal, Fitch Ratings said on Wednesday. The three state-owned fuel retailers haven't changed auto fuel prices for over four months now to help the government contain runaway inflation. "Marketing losses on account of price-freezes for gasoline (petrol), gasoil (diesel) and Liquified Petroleum Gas (LPG) during recent periods of elevated crude oil prices may pressure the profitability and, consequently, the credit metrics of Indian Oil Marketing Companies (OMCs)," Fitch said in a note. The rating agency expected OMCs' credit metrics to weaken beyond the negative triggers of their Standalone Credit Profiles (SCP) in the financial year ending March 2023 (FY23) as retail losses outweigh strong Gross Refining Margins (GRMs). "However, metrics should … [Read more...] about Price freeze on petrol, diesel, LPG to hit profitability of IOC, BPCL, HPCL: Fitch Ratings

- A + A KUALA LUMPUR (Aug 12): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher on Friday — breaking above the recent high of RM4,200 a tonne, supported by stronger soybean oil prices, a dealer said. Palm oil trader David Ng said higher crude oil prices also helped to lift the commodity. “We have located the support level at RM4,200 a tonne and resistance at RM4,500 a tonne,” he told Bernama. At the close, the CPO futures contract for spot months August 2022 and September 2022 both gained RM132 to RM4,432 and RM4,405 a tonne, respectively, while October 2022 climbed RM143 to RM4,407 and November 2022 added RM149 to RM4,411 a tonne. December 2022 and January 2023 both increased by RM156 to RM4,432 and RM4,474 a tonne, respectively. Total volume improved to 85,631 lots from 47,661 lots on Thursday, while open interest narrowed to 191,133 from 237,576 contracts previously. The physical CPO price for August South rose RM100 to … [Read more...] about CPO futures close higher, pushing above RM4,200 a tonne

Gold, gold prices Gold prices were flat on Monday in the international markets after solid US jobs report last week boosted the prospect of aggressive interest rate hikes by the US Federal Reserve, lifting the dollar and bond yields. Spot gold was flat at $1,774.09 per ounce, as of 0121 GMT, after dropping 1 percent in the previous session. US gold futures were steady at $1,790.60. At 9:44am, gold contracts were trading 0.05 percent lower on the Multi-Commodity Exchange ( MCX ) at Rs 51,850 for 10 grams and silver added 0.07 percent at Rs 57,404 a kilogram. Precious metals gave up all the two days' consecutive gain as the US job report stood twice stronger than forecasted. US dollar, which moves opposite to gold prices, gained 0.82 percent on Friday may put pressure on precious metals today. However geopolitical tension between China and Taiwan may support the prices of gold at lower levels. Technically, after a marginal correction in precious metals, prices may rebound … [Read more...] about Gold Prices Today: Strong US jobs data to weigh in on yellow metal, support around Rs 51,500

Source: Reuters Several Chinese state-owned companies including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) announced plans on Friday to delist from the U.S. stock market. The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS) and PetroChina (601857.SS), said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange (NYSE). The four will keep their listings in Hong Kong and mainland Chinese markets. "These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own business considerations," the China Securities Regulatory Commission (CSRC) said in a statement. China and the United States have been in talks to resolve a long-running audit dispute that could result in Chinese companies being kicked off American exchanges if they … [Read more...] about Four Chinese state-owned companies to delist from NYSE

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Ratnamani Metals and Tubes Ratnamani Metals & Tubes (RMTL) is a niche player with superior capabilities in the domestic industrial pipes and tube segment. RMTL manufactures a wide range of stainless steel and carbon steel pipes & tubes, which find application in key end user industries like oil & gas refineries, power, healthcare, etc. • RMTL has an impeccable capital allocation strategy and best in class operating margins and return ratios • RMTL has healthy cash flow and strong balance-sheet. It is one of the few players in the steel pipe sector having net cash position on its balance-sheet. Outlook We maintain BUY rating on the stock. With improvement in product-mix, going forward, EBITDA margin is expected to improve from Q1FY23 … [Read more...] about Buy Ratnamani Metals and Tubes: target of Rs 2000: ICICI Direct

Since the onset of the Covid pandemic, the economy has entered a VUCA phase. VUCA describes an environment that is Volatile, Uncertain, Complex and Ambiguous. World GDP growth went from 2.8 percent in 2019 to -3.1 percent in 2020 and the IMF’s projected growth for 2021 is 5.9 percent. The Indian economy has followed a similar trajectory. We can borrow three terms from the lexicon of risk management to understand what lies ahead for the economy in 2022.  These are the known knowns (facts), the known unknowns (possibilities) and the unknown unknowns (black swans). Known knowns The US Fed has doubled the pace of tapering. It will now reduce its monthly purchase of bonds by $30 billion. The Fed’s bond buying will end by March 2022 and interest rates will be raised from June. While a short-term negative reaction is expected from emerging stock markets, due to fears of flight of capital, the taper should be read as a sign that the US economy does not need a monetary stimulus … [Read more...] about Reforms can immunise Indian economy against shocks in 2022

Share to Twitter Share to Linkedin The job market and the economy will be in bad shape for a while. With all the chatter about inflation and a recession, it's hard to understand what is happening. Let’s break it down. A combination of pent-up demand from the pandemic, supply chain disruptions , trillions of dollars flooded into the market from the Federal Reserve Bank, and massive fiscal stimulus packages from both the Trump and Biden administrations helped stoke inflation . Runaway inflation is ruinous to a country. The costs spiral out of control. The poor are disproportionately impacted, as they generally don't have emergency funds or the ability to earn more than the rising inflation rate to keep their heads above water. To decrease the adverse impact of inflation, Jerome Powell, the head of the Federal Reserve Bank, announced that he would raise interest rates to battle inflation and cool down the economy. If you have been looking to … [Read more...] about An Easy Explanation Of What Happens When The Federal Reserve Bank Raises Interest Rates