(Bloomberg) -- Oil fell for a second day as investors weighed the risk to consumption posed by the spread of the delta coronavirus variant, including in the key market of China, where officials are battling an uptick in cases.West Texas Intermediate was 0.3% lower after slumping on Monday by the most in two weeks. The highly infectious variant is forcing governments to reimpose or extend curbs. Across China, the region’s no. 1 crude market, residents in Beijing were advised not the leave the cap
Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalising on a rebound in crude prices to attract foreign investors. The moves, in a region traditionally possessive of its refineries, power plants and pipelines, highlight the pressure on petrostates to raise funds to diversify their sources of revenue and to bolster national finances hit by a recent slump in oil prices and the coronavirus pandemic. After selling a significant minority stake in its oil pipelines to foreign investors for $12.4 billion in June, Saudi Aramco is weighing selling both downstream and upstream assets, two people familiar with the matter said.
(Bloomberg Markets) -- Power failures have become routine in South Africa. At the same time, the country wants to wean itself off the coal that generates more than 80% of its electricity and makes it the world’s 12th‑biggest source of greenhouse gases.Most of South Africa’s power stations are near the end of their lives. An average of about 1,000 megawatts of capacity is set to be decommissioned annually over the next decade, which presents an ideal opportunity to begin overhauling the energy s
By Gina Lee
LONDON/MELBOURNE (Reuters) -Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia's coal-fired power plants in order to lower the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which is being driven by the Asian Development Bank, offers a potentially workable model and early talks with Asian governments and multilateral banks are promising, the sources told Reuters. The group plans to create public-private partnerships to buy out the plants and wind them down within 15 years, far sooner than their usual life, giving workers time to retire or find new jobs and allowing countries to shift to renewable energy sources.
Core consumer prices in Tokyo marked their first annual increase in a year in July, data showed on Tuesday, heightening the chance nationwide inflation will perk up in coming months on rising energy costs and a rebound in domestic demand. The rise in the Tokyo index, which is considered a leading indicator of nationwide price trends, was driven largely by increases in gasoline and electricity bills reflecting higher crude oil costs. Nationwide consumer inflation has barely risen even as other major economies, such as the United States, begin to fret about the risk of too-high inflation as their economies re-open from pandemic-induced lockdowns.
A series of big announcements this week has drawn the attention to what could be the world’s last major onshore oil play
Stock futures gained Monday evening ahead of another batch of corporate earnings results.
US yields slide
Stocks turned lower Monday afternoon to close out the session in the red, giving back some gains after a winning July. Scott Crowe, CenterSquare Investment Management CIO and Ross Mayfield, Baird Investment Strategy Analyst joined Yahoo Finance Live to discuss.
Stocks gained on Monday, looking to kick off August trading on a high note after a winning July.
The trajectory of inventories is sideways
(Bloomberg) -- Oil tumbled by the most in two weeks as a fast-spreading delta variant posed a threat to demand and as economic data out of China signaled a slowdown.Futures in New York declined 3.6% on Monday. The virus is clouding the outlook for consumption as China faced a fresh outbreak and infections in Sydney matched a record. Amid the surge in cases, barrels from some key OPEC producers are hitting the market, also causing concern. Meanwhile, data indicated that China’s economic activity
Oil futures start August on a down note Monday, under heavy pressure after disappointing data on activity in China and the U.S., worries about the spread of the Delta variant of the coronavirus that causes COVID-19 and rising output by OPEC+ producers.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Exxon does the right thing with its money, but shareholders want more. XOM stock is worth more based on its average historical yield and P/E. The post Exxon Is Playing Things Smart and Looks Worth $77 — Or More appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom America’s #1 EV Stock Still Flying Under the Radar
Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Kanzhun Ltd. (NASDAQ: BZ) and September 10 Deadline
Chevron Corp. (NYSE: CVX) and ExxonMobil Corp. (NYSE: XOM) reported second-quarter earnings Friday. Here's what Bank of America ...
Colgate-Palmolive (NYSE:CL) shares experienced unusual options activity on Monday. The stock price moved down to $79.41 following the ...