Post Tagged with: "Economy"

Source: Reuters

U.S. December deficit hits $144 billion, record for the month

Reuters


WASHINGTON – The U.S. government posted a December budget deficit of $144 billion – a record for the month – due to far higher outlays with coronavirus relief spending and unemployment benefits, while revenues ticked slightly higher, the Treasury …

January 13, 2021 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Fed Chair Powell calls for more help from Congress, says there’s a low risk of ‘overdoing it’

CNBC


Federal Reserve Chairman Jerome Powell called Tuesday for continued aggressive fiscal and monetary stimulus for an economic recovery that he said still has “a long way to go.”

Noting progress made in job creation, goods consumption and business …

October 6, 2020 - 3:00 pm Closing Bell Story‎, Economy, Jobs
Source: CNBC

Fed picks its side in inflation debate and sends market a message — no rate hikes for years

CNBC


The Fed does not expect to see inflation pick up for years, and it is willing to keep rates at zero even after it does.

Stocks initially surged after the Fed released its post-meeting statement and its latest economic …

September 17, 2020 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: Reuters

The Fed could could still move markets Wednesday even with rates on hold for the foreseeable

CNBC


While committed to keeping interest rates low for the next several years, the Federal Reserve still has plenty of work to do as it steers the U.S. economy through the pandemic.

As central bank officials gather Tuesday and Wednesday

September 15, 2020 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Alan Greenspan lists inflation and the budget deficit as his biggest concerns

CNBC


Former Federal Reserve Chairman Alan Greenspan said his biggest economic concerns in the U.S. are inflation and the budget deficit.

“My overall view is that the inflation outlook is unfortunately negative and that’s essentially the result of entitlements crowding …

September 11, 2020 - 3:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Markets are facing a potential ‘Minsky moment’ collapse, strategist says

CNBC


Asset prices could be on the cusp of a sharp collapse known as a “Minsky moment,” and may retest lows last seen in March, according to Ron William, market strategist and founder of RW Advisory.

Markets have experienced a …

September 3, 2020 - 2:00 pm Closing Bell Story‎, Economy, Finance
Source: Reuters

Oil rises towards $46 on U.S. inventory drop, economy hopes

Reuters


LONDON – Oil rose towards $46 a barrel on Wednesday, gaining for a third day, supported by a report that U.S. crude inventories fell and as surveys showing stronger manufacturing raised hopes of an economic recovery from the coronavirus …

Source: CNBC

Federal Reserve releases minutes for June meeting

CNBC


The Federal Reserve on Wednesday released the minutes from its June 9-10 meeting, during which it held interest rates steady and had an in-depth discussion about capping bond yields and strengthening its guidance about where policy will be set …

July 1, 2020 - 2:00 pm Closing Bell Story‎, Economy, Finance, Regulatory
Source: Reuters

Oil prices rise on optimism around OPEC+ output pact

Reuters


NEW YORK  – Oil prices rose on Monday as signs fuel demand was recovering while OPEC+ members were complying with a production cut deal outweighed fears that new coronavirus infections could further slow the global economy.

U.S. West Texas …

Source Reuters

S&P 500, Dow retreat after rally; Nasdaq gains further

Reuters


Wall Street’s S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week’s Federal Reserve meeting for signs on how it views a …

Source: CNBC

Powell says more policy help may be needed to pull the US out of economic downturn

CNBC


Federal Reserve Chairman Jerome Powell said Wednesday that policymakers may have to use additional weapons to pull the country out of an economic mire that has cost at least 20 million jobs and caused “a level of pain that …

May 13, 2020 - 3:00 pm Closing Bell Story‎, Economy, Finance, Regulatory
Sourcee: Reuters

‘Like watching a train wreck’: The coronavirus effect on North Dakota shale oilfields

Reuters


NEW YORK (Reuters) – Oil executive Bill Kent was with fellow managers in the Colorado board room of Resource Energy headquarters on April 20 when benchmark U.S. crude prices collapsed to minus $37 a barrel. Sitting six feet apart …

Source: CNBC

Fed pledges to keep rates near zero until full employment, inflation come back

CNBC


The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet.

Following this week’s Federal Open Market …

April 29, 2020 - 3:00 pm Closing Bell Story‎, Economy, Finance, Jobs
Source: Houston Chronicle

U.S. intervenes in Saudi-Russia oil war with call for restraint

Houston Chronicle


The U.S. made its most direct intervention yet in the oil price war between Saudi Arabia and Russia, urging Riyadh to “rise to the occasion and reassure” energy markets at a time of economic uncertainty.

Secretary of State …

Source: Houston Chronicle

Stocks jump, heading for first back-to-back gain in 6 weeks

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% …

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

From Reuters


Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Brent crude LCOc1 settled …

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Oil Spills Into U.S.-China Trade War, Prices Slump

Oil Spills Into U.S.-China Trade War, Prices Slump

From Reuters


China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global …

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

From Reuters


Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.

Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

Courtesy of Chesapeake

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters


Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.

Brent crude LCOc1 …

Iranian Tanker Sought by US Heading Toward Greece

Iranian Tanker Sought by US Heading Toward Greece

From The Houston Chronicle


An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

From Reuters


Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a …

Oil Deepens Slide on Recession Fears, China’s Trade Threats

Oil Deepens Slide on Recession Fears, China’s Trade Threats

From Reuters


Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.

In a sign of investor concern that the world’s biggest economy …

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

From Reuters


Oil prices shed 3% on Wednesday after fresh Chinese and European economic data revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.

Brent crude LCOc1 settled at $59.48 a barrel, …

Photo by Tyler Losier

Continental CEO Harold Hamm Speaks at EnerCom’s The Oil and Gas Conference

By Tyler Losier, Energy Reporter, Oil & Gas 360

Continental Resources’ Harold Hamm sits down for a fireside chat
Today, as part of EnerCom’s 24th annual The Oil and Gas Conference in Denver, Colorado, Harold Hamm, CEO and chairman of

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …