Capital Markets

Source: CNBC

Credit Suisse shares tank after Saudi backer rules out further assistance

CNBC


Shares of Credit Suisse on Wednesday plunged to a fresh all-time low for the second consecutive day after a top investor in the embattled Swiss bank said it would not be able to provide any more cash due to …

March 15, 2023 - 11:30 am Capital Markets, Closing Bell Story‎, Crude Oil News, Finance
Source: Reuters

Oil prices fall as SVB collapse spooks financial markets

BOE Report


Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis.

 

U.S. West Texas Intermediate crude futures …

Source: Oil Price

Norway’s oil fund held over $260M in failed SVB Banking Group

Oil Price


Norway’s oil fund held over $263 million in Signature Bank and SVB Financial Group, the owner of Silicon Valley Bank (SVB), which failed spectacularly over the weekend, sparking government intervention.

MarketWatch reports that the Norwegian sovereign wealth fund …

Source: Reuters

The energy crisis isn’t over, investment firm Guggenheim says

Oil Price


Energy markets appear to be in a precarious balance, but the energy crisis is not over, Michael LaMotte, senior managing director at investment firm Guggenheim Partners, said at the CERAWeek energy conference in Houston this week.

“We may …

Source: Reuters

ADNOC Gas $2 billion IPO fully covered within hours of opening

World Oil


(Bloomberg) — Investors snapped up all available shares within hours of the start of ADNOC Gas’s $2 billion initial public offering, showing that demand for Middle Eastern stock sales remains strong.

 

Abu Dhabi National Oil Co. is …

Source: Oil Price

Oil and gas concessions could break the net-zero banking alliance

Oil Price


Internal tensions are rising within the Net-Zero Banking Alliance, an offshoot of the Glasgow Financial Alliance for Net Zero, as transition-focused members get annoyed that less conscientious ones are being allowed to continue financing oil and gas.

According …

Source: Reuters

2023 could be the best year for U.S. energy IPOs since 2017

Oil Price


Ten U.S. energy and utility companies have either completed or filed for initial public offerings on the U.S. stock market this year, and if all current listing plans pan out, 2023 could see the highest number of energy …

Source: Reuters

RBC: Oil prices will only go higher from here

Oil Price


Crude oil prices have found a floor and the only way they can go from here would be higher. That’s according to RBC commodity analysts Helima Croft and Michael Tran, as quoted by Bloomberg.

 

“We remain …

Source: Reuters

Banks haven’t lost their appetite for fossil fuels just yet

Oil Price


Following the signing of the Paris Agreement by 193 states and the EU and after the COP27 climate summit in 2021, several major financial institutions came under fire for their continued support of fossil fuel companies.

As governments …

Source: Reuters

Column: Bullishness on oil ebbs at start of 2023

Nasdaq


LONDON – The bullishness about petroleum prices which flooded through parts of the investment community at the end of 2022 ebbed in the first full week of 2023 as concerns mounted about the global economy and China’s coronavirus wave.…

Source: Reuters

Goldman Sachs: Oil prices to hit $105 on solid demand growth

Oil Price


Solid growth in global oil demand is set to drive oil prices to above $100 this year and Brent Crude could trade at $105 per barrel by the fourth quarter, according to Goldman Sachs.

 

World oil demand …

Source: Reuters

Column: Hedge fund petroleum buying paused over year end

Nasdaq


LONDON – Rallying oil prices ran out of steam just before the end of the year as investors turned cautious after two weeks of heavy petroleum buying.

 

Hedge funds and other money managers sold the equivalent of 12 …

Source: Reuters

Energy price volatility to continue in 2023 amid geopolitical uncertainty

BOE Report


TORONTO – Deloitte says energy prices will likely be volatile in the first quarter of 2023 as geopolitical uncertainty continues.

 

The firm’s energy, oil and gas price forecast released Monday says global factors including the war in …

Source: Oil Price

Investors are increasingly bullish on oil despite demand woes

Oil Price


Hedge funds and other portfolio managers boosted their bullish bets on crude oil at the end of 2022 despite concerns about demand in the immediate term in the world’s top crude oil importer, China, and persistent fears of …

Source: Reuters

Credit Suisse predicts $63 oil

Oil Price


Brent crude prices have been on a sharp decline since peaking in June, nearly giving up all the year’s gains. And Credit Suisse says the selloff is not yet over.

The market remains well below its

Source: Bloomberg

Investors with $1.4 trillion of assets hit oil companies with climate resolutions

World Oil


(Bloomberg) —Investors with combined assets of €1.3 trillion ($1.4 trillion) have demanded the world’s biggest oil companies take swifter action to cut greenhouse gas emissions.

 

Shareholder activist group Follow This filed resolutions with Shell Plc, BP Plc,

Source: Reuters

Petrobras sheds $41 billion in market value in 2 months

Oil Price


Shares of leading Brazilian National Oil Company (NOC) Petroleo Brasileiro SA aka Petrobras (NYSE: PBR) lost R$30 (~US$5.6) billion in market value on Wednesday after the country’s lower house of Congress voted late on Tuesday to make it …

Source: Reuters

Energy stock bulls hit pause as recession looms

Nasdaq


MILAN – After two straight record-breaking years, investors that profited from booming oil stocks are now betting on a temporary retreat, as recession threatens economies in the United States and Europe.

 

A gauge of global energy stocks .dMIWO0EN00PUS

Source: Reuters

GRAPHIC-Oil hedge funds’ highs and lows as geopolitics cloud outlook

Nasdaq


Hedge fund manager Doug King began 2022 thinking oil was cheap. The world, including China, was expected to recover from COVID lockdowns and demand would reignite energy markets. Then, Russia invaded Ukraine.

 

Hedge funds, including King’s, expected to …

Source: Oil Price

Texas senate committee takes aim at BlackRock over ESG policies

Oil Price


The Texas legislature has subpoenaed investment firm BlackRock, together with its subsidiaries and affiliate entities in the state, for documents related to the institution’s promotion of environmental, social, and governance (ESG) policies.

 

The subpoena was issued …

Source: Reuters

Goldman Sachs sees ‘high probability’ of OPEC cut — and expects oil prices to hit $110 next year

CNBC


A group of some of the world’s most powerful oil producers is highly likely to take further measures to stem a price decline and try to balance the market, according to Goldman Sachs.

OPEC and non-OPEC producers, an influential …

Source: Reuters

Buyout firm KKR looks to sell Canadian gas producer Westbrick Energy

BOE Report


Private equity firm KKR & Co is seeking buyers for Canadian oil and gas producer Westbrick Energy Ltd to cash in on high energy prices, in a potential deal valued at around C$1.5 billion to C$2.0 billion ($1.13 …

Strive Asset Management exceeds half a billion in AUM, 3 months after launch

Strive Asset Management exceeds half a billion in AUM, 3 months after launch

Oil and Gas 360


COLUMBUS, Ohio-November 15, 2022 01:00 PM Eastern Standard Time–(BUSINESS WIRE)–Strive Asset Management announced its total assets under management surpassed $500 million on November 11, 2022, three months after the launch of its first

Source: Bloomberg

Saudi wealth fund weighs IPO of $5 billion driller

World Oil


(Bloomberg) — Saudi Arabia’s wealth fund is considering an initial public offering of oil and gas driller ADES International Holding by the first half of next year, as it accelerates efforts to raise billions of dollars for new …

Source: Reuters

Column: Oil investors set for supply fall to offset weak economy

Nasdaq


LONDON – Investors expect a planned U.S. and EU price cap to disrupt Russia’s crude exports by enough to offset the impact of an economic slowdown on oil consumption, boosting prices.

 

 

Hedge funds and other money managers …

Source: Reuters

COLUMN-Oil funds trapped between low inventories and slowing economy: Kemp

Nasdaq


LONDON – Portfolio investors’ oil positions are exhibiting significant week-to-week volatility as traders struggle to anticipate the net effect of an economic slowdown amid exceptionally low inventories of crude and diesel.

 

Hedge funds and other money managers purchased …

Promoting excellence over politics in corporate boardrooms: Strive launches campaign ahead of proxy voting season

Promoting excellence over politics in corporate boardrooms: Strive launches campaign ahead of proxy voting season

Oil and Gas 360


Strive identifies seven iconic American companies that risk prioritizing ESG over excellence. In early December, Strive will select a subset of these companies as its focus for next spring’s proxy voting season.

 

 …

Source: Oil Price

BlackRock raises $4.5 billion for climate fund amid fossil fuel criticism

Oil Price


BlackRock said it had raised $4.5bn (£3.97bn) for a new climate infrastructure fund today as it looks to ramp up investment in the net zero transition amid criticism of its decision to continue backing oil and gas firms.…

Source: Oil Price

Saudi wealth fund teases the sale of its $85-billion Aramco stake

Oil Price


The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, could soon have an announcement about a possible sale of part of its 4% stake in Saudi Aramco, which is currently worth around $85 billion, the governor of …

Source; Oil Price

Barclays cuts oil price forecast due to slower demand growth

Oil Price


Barclays lowered on Friday its Brent Crude price forecast for this year and next due to expected slowing growth in oil demand.

 

The UK bank—which slashed in August its Brent oil price forecast to $103 per barrel …