Reuters NEW YORK -Oil prices edged up to multi-year highs on Friday, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs. Brent crude futures rose 35 cents to $72.87 a barrel by 11:20 a.m. EDT (1520 GMT), a day after closing at their highest
Reuters LONDON/NEW YORK – Renewed lockdown restrictions in Europe and slower than expected vaccine rollouts are likely to check a global recovery in fuel demand and make OPEC+ oil producers take a cautious stance when the group reassesses output policy this week. With its extensive vaccination programme, Europe was central to forecasts for demand recovery, especially as many Europeans were
CNBC Wall Street investors largely believe a Joe Biden presidency could mean lower stock-market returns, according to a new CNBC survey. As a part of CNBC’s Quarterly Report, we polled more than 100 chief investment officers, portfolio managers and CNBC contributors who manage money about where they stood on the upcoming year for stocks under a new administration. The survey
Fox Business Former New York Stock Exchange Chairman Dick Grasso weighed in on the market’s recent records on Thursday telling “Cavuto: Coast to Coast,” he thinks Wall Street is factoring in a coronavirus vaccine, more fiscal relief and a divided government. “What the market is saying is, ‘We’re looking to a COVID relief package before the Congress goes out, we’re looking to very effective vaccination program, looking to a divided government,’ hopefully as a result of
CNBC S&P Global Ratings warned that banks could face their toughest year since the aftermath of the global financial crisis, with four key risks hanging over the sector. The ratings agency currently has a “negative” outlook for about one third of global banks, with many downward revisions taken in light of the Covid-19 crisis and the oil price shock experienced
From Houston Chronicle The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services. A new report Tuesday by research firm Wood Mackenzie highlights how the offshore sector has returned to viability through costs reductions and greater
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