UBS sees Brent crude at $90 by the end of 2023 - here's why
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- Energy stocks rise premarket as oil prices climb on Middle East supply fears
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- Wall St slips as steep oil prices stoke inflation concerns ahead of CPI
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Tech titans deliver earnings beats, jobs report looms - what's moving markets
August 4, 2023 5:57 AM EDTInvesting.com -- Tech giants Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) report higher-than-anticipated earnings even as a slowdown in consumer spending weighs on returns at both companies. Meanwhile, the release of the key U.S. labor market report for July is due out on Friday, with traders hoping that the numbers could provide some clues about the path ahead for Federal Reserve interest rate policy.
1. Futures point higher after fresh Big Tech earnings
U.S. stock futures rose on Friday, led... More
Oil rises for 6th straight week as global supplies tighten
August 3, 2023 8:48 PM EDTBy Shariq Khan
(Reuters) -Oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns.
Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while the U.S. West Texas Intermediate crude gained $1.27, or 1.6%, to close at $82.82 a barrel. Both benchmarks hit their highest levels since mid-April on Friday.
Saudi Arabia on Thursday extended a voluntary oil production cut of 1 million barrels per day to the end of September,... More
Oil rises 2% as Saudi Arabia and Russia keep supplies tight
August 2, 2023 8:19 PM EDTBy Scott DiSavino
NEW YORK (Reuters) -Oil prices gained about 2% on Thursday as Saudi Arabia and Russia took steps to keep supplies tight into September and possibly beyond.
Brent futures rose $1.94, or 2.3%, to settle at $85.14 a barrel, while U.S. West Texas Intermediate crude rose $2.06, or 2.6%, to settle at $81.55.
A lack of big price moves in recent weeks has cut Brent's historic or actual 30-day close-to-close futures volatility to its lowest since February 2022.
In other oil markets, U.S. diesel futures rose about 2% to close at their highest since January 2023.
Saudi... More
