“In the short term, the market shows a slightly bullish trend amid volatility,” said Gao Mingyu, Beijing-based chief energy analyst at SDIC Essence Futures Co. “But OPEC+’s rapid output increase makes it difficult for the supply-demand tightness that’s driven by seasonal and geopolitical factors to persist.”
A lot of trade lawyers would say that was no surprise that Trump tried a fairly obscure, untested, uh, legal authority and has at least lost for now. But there are others that he can use. They’re more targeted, they take longer to implement. There’s investigations you have to do to kind of justify why […]
“Oil’s rally is a classic case of worst fears not materializing,” said Charu Chanana, chief investment strategist at Saxo Markets Pte. “OPEC’s mixed signals, coupled with rising geopolitical tensions and driving-season demand, sparked a sharp short-covering rally,” with the weaker dollar also contributing to the move higher, she said.
Hawley later said he supports the House bill’s work requirements, as well as efforts to go after fraud, but opposes that measure’s changes to the Medicaid provider tax and cost sharing. The House legislation seeks to limit a practice whereby states tax hospitals and other Medicaid providers in order to bolster their federal reimbursement levels, […]
Electric trucks accounted for 22% of light-duty commercial vehicle sales in April, from 13% in the same month last year, according to BloombergNEF. For bigger rigs, the increase is even more pronounced, with sales trebling to 15% of the total. Diesel demand is being menaced on two fronts, as liquefied natural gas had already been […]
All of that is restoring some of gold’s haven appeal, which has ebbed somewhat since it hit a record high above $3,500 an ounce in April. The precious metal is still up more than a quarter so far this year though, with Goldman Sachs Group Inc. saying last week it would remain a hedge against […]
The latest OPEC+ policy shift began on April 3, when Saudi Arabia and seven other OPEC+ nations stunned oil markets with the announcement of a supply hike for May of 411,000 barrels a day — triple the scheduled amount. The decision came even as global markets buckled amid faltering Chinese demand and Trump’s trade war, […]
Brent crude for August rose as much as 2.1% to $64.09 a barrel, after losing 2.2% last week, while West Texas Intermediate was below $62. The Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to add 411,000 barrels a day of supply in July, according to a statement.
Lee, a member of the opposition Democratic Party, unveiled an “energy expressway” policy framework that relies on renewables, like offshore wind, to supply industrial hubs. His strategy calls for phasing out coal by 2040, curbing consumption of natural gas, and forming a ministry tasked with meeting South Korea’s 2050 net zero goal.
“Our preliminary forecast range for May nonfarm payrolls is 60k-130k, with the central tendency clustering around 90k – lower than the consensus of 130k at the time of writing. We think one sector — leisure and hospitality — accounted for most of the weakness, as subpar international tourism and a pullback in government travel led […]