4 hours Saudi Arabia Could Slash Deficit To Below 5% Of GDP At $60 Oil 7 hours Biden Could Subsidize Nuclear Power To Reach U.S. Climate Goals 10 hours Environmentalists: BlackRock’s Exxon Vote Is Moment Of Truth 11 hours New Mexico’s Oil And Gas Royalties Hit Record 1 day Iran Takes Drastic Measures To Conserve Electricity In Tehran 1 day Large Inventory Draws Boost Crude Prices 1 day Aramco Reports 30% Jump In Q1 Net Profit 1 day Mining Giant BHP Warns Against Chile s Mining Tax 1 day APICORP: Energy Investment In MENA Set To Top $800 Billion By 2025 1 day Venezuela’s Oil Exports Hover Around 700,000 Bpd 2 days Iraq May Buy Exxon’s Stake In Major Iraqi Oilfield
Natural gas suppliers, pipeline companies and banks that trade commodities have emerged as the biggest market winners from February s U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports. The deep freeze caught Texas s utilities off-guard, killed more than 100 people and left 4.5 million without power. Demand for heat pushed wholesale power costs to 400 times the usual amount and propelled natural gas prices to record highs, forcing utilities and consumers to pay exorbitant bills. After the storm, few companies wanted to talk about their financial gains, unwilling to be seen as profiting off others hardships. But a clearer picture is emerging from quarterly earnings and as utility companies smarting from big bills sue to recoup their losses.
The Biden tax increase makes no sense. Preliminary headline productivity improves. Biggest midday movers: Uber, Etsy, Moderna. Chinese oil imports dropped 11% in April.
Here is the current market situation from CNN Money
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Oil Rally Stalls As India s COVID Crisis Worsens Oil prices dropped on Thursday morning, cutting short the rally to $70 a barrel after the worlds third-largest oil importer, India, reported a fresh record of new daily coronavirus cases. As of 11:17 a.m. EDT on Thursday, WTI Crude was down 0.96 percent at $64.99 and Brent Crude was trading down 0.86 percent at $68.37. Brent prices were a hairs breadth from reaching $70 a barrel on Wednesday, as the market was focused on the reopenings in the United State
3 hours Biden s Asia Advisor: U.S. Entering Period Of Intense Competition With China 4 hours WoodMac: Asia Needs To Invest More In Gas To Lower Emissions 5 hours Venezuela Imports First Diesel Cargo In Six Months 7 hours China Increases Oversight On Crude Import Of Oil Majors 8 hours Senators Propose Pro-Nuclear Tax Amendment 24 hours Activist Investor Wins Exxon Board Seats In Day Of Reckoning For Big Oil 1 day Norway s Oil Industry Boosts Investment Despite IEA Report 1 day Dutch Court Orders Shell To Slash Emissions In Historic Climate Case 1 day Iran Bans Crypto Mining During Hot Summer Months 1 day Nissan May Build Huge Battery Plant In The UK