Mobil oil stock price history

Source: Reuters Oil prices rose on Wednesday on expectations that easing COVID-19 restrictions in China will boost demand and as supply concerns grew. Brent crude was up $1.24 cents, or 1.1%, at $113.17 a barrel at 0921 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $1.69 cents, or 1.5%, to $114.09 a barrel, reversing some of the previous session's losses. Hopes of further lockdown easing in China boosted expectations for demand recovery. The country's authorities allowed 864 of Shanghai's financial institutions to resume work, sources said on Wednesday, a day after the Chinese city achieved a milestone of three consecutive days with no new COVID-19 cases outside quarantine zones. The market also saw support from rising supply concerns. Russian crude output in April fell by nearly 9% from the previous month, an internal OPEC+ report showed on Tuesday, as Western sanctions on Moscow following its invasion of Ukraine hit the top oil producer. The price … [Read more...] about Oil prices rise on China demand recovery expectations, supply concerns

- A + A (May 18): Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push their pivots toward greener energy. With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand. Ambani’s Reliance Industries Ltd is snapping up distressed crude-oil cargoes at discounts to feed its refining complex, the biggest in the world. Reliance even deferred a scheduled maintenance of the facility to help churn out more diesel and gasoline, whose margins have shot up to touch a three-year high. The two Indian tycoons are stepping in at a time when many developed countries are scrambling for alternative sources of fuels as they try to back away from Russian supplies. This month, the Group of Seven most-industrialized nations pledged to ban imports of Russian oil. The … [Read more...] about Asia’s two richest men reap windfall from surging oil, coal

Moody's cut Russia's credit six notches as it expects "sustained disruption to the economy" as a result of global sanctions against the country after it invaded Ukraine. Russia's stock market remained closed. U.S. stocks are higher after yesterday's surge that came in the wake of Federal Reserve Chair Jerome Powell ’s congressional testimony signaling a Fed rate increase would be lower than what investors feared. Key Takeaways Top credit agency Moody's decreased Russia's credit by six notches. U.S. stocks are rising, following yesterday's surge that came after Fed statements that allayed fears of a big interest rate hike. Best Buy Co. Inc. and Kroger Co. shares rose after reporting better-than-expected earnings. Powell is set to testify before Senate lawmakers this morning after telling House lawmakers yesterday he would propose just a quarter-percentage-point rate hike at the central bank’s March meeting. All major U.S. stock indexes posted solid gains … [Read more...] about Moody’s Cuts Russia’s Credit, Wheat Prices Soar, Powell Allays Investors’ Fears

- A + A NEW YORK (May 19):  Global stocks plunged and the dollar strengthened for the first time in four sessions on Wednesday as concerns about rising inflation on economic growth soured sentiment. The mood was underscored by a 9% surge in British consumer prices and a faster-than-expected acceleration in inflation in Canada. British inflation surged to its highest annual rate since 1982 as energy bills soared, while Canadian inflation rose to 6.8% last month, largely driven by rising food and shelter prices, Statistics Canada data showed. British inflation is now the highest among major economies in Europe, but prices are rapidly rising worldwide, forcing central banks around the globe to hike interest rates and tamp down growth as suggested by a modest decline in U.S. homebuilding in April. Soaring prices and material shortages have already hit homebuilding, the sector of the economy most sensitive to rates. But the U.S. Commerce Department report also showed … [Read more...] about Stocks pummeled by growth worries, U.S. dollar climbs

- A + A (May 18): Sri Lanka asked citizens not to queue for gasoline as the nation on the verge of default has no dollars to pay for a fuel shipment. “There is a petrol ship in our waters,” Energy Minister Kanchana Wijesekera told Parliament Wednesday. “We do not have the forex.” Sri Lanka “hopes” to release the ship “today or tomorrow,” the Minister said. The nation also owes the same supplier US$53 million for an earlier shipment of gasoline, he added, without elaborating. The island nation is in the worst economic tailspin of its independent history. Shortages of everything from food to cooking gas have resulted in Asia’s fastest inflation — with prices surging almost 30% — and spilling over into social unrest and political turmoil. Prime Minister Ranil Wickremesinghe — less than a week into the job — said on Monday the nation has only one day’s stock of gasoline and the government is working to obtain dollars in the open market to also pay for three ships … [Read more...] about Sri Lanka can’t find cash to pay even one ship for petrol

By The Associated Press WASHINGTON — A senior defense official says U.S. Pentagon officials are having discussions with Sweden and Finland on their security needs to deter Russia as both move toward NATO membership. The official said Defense Secretary Lloyd Austin met with Swedish Defense Minister Peter Hultqvist on Wednesday and spoke about the interim period between when the NATO application is formally made and when it is approved. There have been concerns about threats from Russia during that period, in which Sweden and Finland would not formally be covered by NATO’s Article 5 which says that an attack against one member is an attack against all and calls for collective defense. The defense official spoke on condition of anonymity to discuss private Pentagon discussions. – AP writer Lolita Baldor in Washington contributed to this report. __ KEY DEVELOPMENTS IN THE RUSSIA-UKRAINE WAR: — Interrogation, uncertainty for surrendering Mariupol troops — NATO … [Read more...] about Live updates | Official: US in talks with Sweden, Finland

Representative image The rupee on Wednesday declined by 16 paise to close at its fresh lifetime low of 77.60 against the US dollar amid unabated foreign fund outflows and a stronger greenback in overseas markets. At the interbank foreign exchange market, the rupee opened lower at 77.57 and later hit the day's low of 77.61 as the dollar rebounded in global markets following hawkish comments from US Federal Reserve chief Jerome Powell. Crude oil prices also surged by over 1 percent, which weighed on the rupee. The local unit finally ended at its all-time low of 77.60, showing a loss of 16 paise over its previous close of 77.44. "The dollar index took support near 103.50 and the capital market witnessed profit booking from higher levels, sending rupee into weakness," said Jateen Trivedi, VP Research Analyst at LKP Securities. The US Fed chief asserted that the central bank would increase interest rates as high as needed to contain a spike in inflation which threatens the … [Read more...] about Rupee falls 16 paise to record low of 77.60 against USD

For many investors, retirement planning represents the bulk, or even the sum total, of their investment activity. As of 2020, there were roughly 60 million active 401(k) participants, in addition to former employees and retirees. But while millions of adults in the United States contribute toward retirement, views on retirement investing and all that goes along with it are anything but uniform. Investopedia conducted a online survey of 4,000 U.S. adults to quantify Americans’ understanding of financial literacy on a generational level, from baby boomers down to Generation Z. Below, we explore some of the top findings of this survey as it pertains to retirement investing and planning. Key Takeaways A small majority of U.S. adults expect to retire, with Gen Z the most optimistic about retiring early. Two-thirds of millennials and Gen X adults are planning for retirement, as are 42% of Gen Z members. Younger generations believe that cryptocurrencies will feature … [Read more...] about Multigenerational Survey Shows How Retirement Planning Is Changing