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...The energy sector was up 1.2 per cent during lunchtime trading, making it the best-performing sector in the S&P 500 on Monday....
...Oil markets are set to become “extremely tight” in the second half of this year, according to hedge fund giant Citadel, as Opec+’s control of the market allows it to keep prices high....
...Traditionally, oil prices go up a lot and stock markets go down a lot. Back in the 1973-74 Middle East crisis, in association with an Opec embargo, oil rose 300 per cent. The S&P 500 index halved....
...“Shale has redrawn the map of world oil in a way most people don’t seem to understand,” said Daniel Yergin, vice-chair of S&P Global and a Pulitzer Prize-winning energy historian....
...Contracts tracking the benchmark S&P 500 and the tech-heavy Nasdaq Composite were up 0.3 per cent ahead of the New York trading session....
...But notice that in the more recent statement, Berkshire is making a comparison to “the average American corporation,” not the S&P 500....
...The S&P 500 lost 1.2 per cent, reversing earlier gains and marking the worst day for the benchmark gauge since mid-February....
...If there is a wave of oil mergers, should wildcatters be kept from buying natural gas drillers? Panuwat struggled to explain the unusual coincidence about the timing of his trade....
...Wall Street’s blue-chip S&P 500 stock index closed 1.2 per cent lower, its sharpest daily decline since the middle of February, while the tech-heavy Nasdaq Composite fell 1.4 per cent....
...Exxon holds a 45 per cent stake in the Stabroek Block; the China National Offshore Oil Corporation owns 25 per cent; and Hess holds the remaining 30 per cent, which would transfer to Chevron if the deal...
...As a result, equity markets are already more jittery — not a positive for oil. Since 2000 oil prices have rarely continued rising when the S&P 500 has a sustained decline....
...Walmart was the second-worst performer on the benchmark S&P 500 in the afternoon in New York, falling more than 8 per cent....
...Sadly, mainFT’s Ian Johnston has delivered, with this unlisted offering from Oil Brokerage, a London-based, uh, oil brokerage....
...“The oil market is waiting,” said Daniel Yergin, author and vice-chair of S&P Global....
...The ECB, for its part, has said that it lacks data on asset-backed securities and other structured products issued by financial corporations that are eligible as collateral....
...The benchmark S&P 500 gained 1.1 per cent, while the tech-heavy Nasdaq Composite closed 1.2 per cent higher....
...Crude oil prices, which climbed higher than $90 a barrel this month for the first time since October, have buoyed oil majors....
...It costs less than $3 per kilogramme for “grey” hydrogen production from fossil fuels, S&P said in a report this year....
...Some of the world’s biggest investors including Norway’s oil fund and a Canadian pension giant have failed in a bid to push Samsung’s de facto holding company to increase dividends and share buybacks....
...The energy sector led the gains as a combination of fast US production growth and geopolitical tensions drove up oil prices....
...Oil prices dropped for the third day in a row, with Brent crude falling 1.7 per cent to $77.33 a barrel....
...S&P said it expected funding to become more difficult for smaller oil and gas players as global demand for oil and gas falls, but said that borrowing would remain simpler for longer for larger companies....
...The US oil major told my FT colleagues in Brussels that “recent developments in Europe have not instilled confidence in long-term, predictable policies”....
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