360 Feedwire The stock market’s first reaction to Friday’s stunningly bad jobs report was to take it in stride. But Wall Street slid through the day as investors looked ahead to the likelihood that even worse numbers are on the way. Stocks initially held steady after the government said U.S. employers cut 701,000 more jobs than they added last month,
CNBC Global oil storage could reach maximum capacity within weeks, energy analysts have told CNBC, as the coronavirus crisis dramatically reduces consumption and some of the world’s most powerful crude producers start to ramp up their output. The coronavirus pandemic has meant countries have effectively had to shut down, with many governments imposing draconian measures on the daily lives of
Reuters LONDON – Hedge funds began trimming short positions in petroleum last week as crude oil prices fell to crisis levels for some producers and refiners and traders started to anticipate shutdowns at oilfields and refineries. Extreme high and low prices are usually fleeting because they are dynamically unstable and contain the seeds of their own destruction, forcing large and
Tailwater Capital DALLAS, March 26, 2020 /PRNewswire/ — Tailwater Capital LLC (“Tailwater”), a private equity firm based in Dallas, today announced that it has closed Tailwater Energy Fund IV LP (“Fund IV”) with $1.1 billion in capital commitments, including a co-investment for one of Fund IV’s platform companies. Receiving strong support from new and existing investors, Fund IV will continue its strategy of partnering with proven
Reuters WASHINGTON/NEW YORK – U.S. lender Capital One Financial Corp got a waiver from the Commodity Futures Trading Commission (CFTC) after plunging oil prices increased the bank’s derivatives exposure above a key regulatory threshold, according to two sources with knowledge of the matter. On Friday, the CFTC said it would temporarily exempt a U.S. bank from a requirement to register
Houston Chronicle NEW YORK (AP) — Stocks are adding to their gains Wednesday as Congress moves closer to passing a $2 trillion package to help the economy deal with damage caused by the coronavirus. The S&P 500 was up 4.7% in afternoon trading after shaking off a wobbly start to the day. The Dow Jones Industrial Average jumped more than
CNBC Goldman Sachs slashed its oil forecast on Tuesday as the COVID-19 outbreak continues to pressure demand. “Demand losses across the complex are now unprecedented,” Goldman’s global head of commodities research Jeffrey Currie wrote in a note to clients Tuesday. The firm said that oil use has fallen by eight million barrels per day as the coronavirus has led to
CNBC The market’s blistering sell-off over the last month is so bad that investors have already pretty much priced U.S. stocks as if the economy is headed for a recession, based on a history of past declines around economic downturns by RBC. The median and average recession-related market decline sees the S&P 500 plunge 24% and 32%, peak to trough, respectively, RBC
Brent crude oil futures crashed more than 10% in early Monday trading. At $30.56 per barrel (as of 10:25 A.M. EDT), the crucial international benchmark is now at its lowest level in more than four years. Brent prices last fell below $32 in February 2016.
CNBC Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track for its worst week since December 2008, and its third largest weekly decline on record. On Thursday WTI fell $2.04, or
Houston Chronicle Oil rebounded from its worst loss since 1991 on speculation that potential U.S. tax cuts may shield the market against the coronavirus and a price feud between major producers. Futures climbed 10% in New York, advancing in tandem with equities after President Donald Trump said his administration will discuss a possible payroll tax cut with Congress. Prices mostly
