Oil Futures Settle Lower As Supply Concerns Ease

RTTNews | 593 hari yang lalu
Oil Futures Settle Lower As Supply Concerns Ease

(RTTNews) - Oil prices drifted lower on Friday as supply concerns eased amid hopes of a peace deal between Russia and Ukraine and possibility of removal of sanctions on Russia.

Traders are pinning hopes of an end to the Russia-Ukraine war after U.S. President Donald Trump spoke to presidents of Russia and Ukraine over phone.

There are expectations that a potential peace deal between Ukraine and Russia would usher in the end of sanctions affecting supply flows.

West Texas Intermediate Crude oil futures settled lower by $0.55 or 0.77% at $70.74 a barrel. WTI futures gained 1% this week.

Brent crude futures settled at $74.70 a barrel, losing about 0.4%. Brent crude futures gained about 1% this week.

Oil prices found some support amid optimism over potential trade agreements between the U.S. and some major trading partners following delays in U.S. reciprocal tariffs.

Trump has signed a Presidential memo on reciprocal tariffs for more balanced trade, with Howard Lutnick, Trump's Commerce Secretary nominee, saying he anticipates the investigation will be complete by April 1.

A report from Baker Hughes said the oil and gas rig count in the U.S. rose by 2 to 588 this week. Despite this week's rig increase, the total count was still down 33 rigs, or 5% below this time last year.

Baker Hughes said oil rigs rose by one to 481 this week, while gas rigs gained one to 101.

baca selengkapnya
Chicago Business Barometer Surges Back Into Expansionary Territory In September

Chicago Business Barometer Surges Back Into Expansionary Territory In September

A report released by MNI Indicators on Wednesday showed a substantial rebound by its reading on Chicago-area business activity in the month of September. MNI Indicators said its Chicago business barometer spiked to 58.8 in September from 47.1 in August, with a reading above 50 indicating growth. Economists had expected the index to jump to 51.0.
RTTNews | 3 jam 22 menit yang lalu
U.S. Consumer Prices Rise 0.3% In August, Slightly Less Than Expected

U.S. Consumer Prices Rise 0.3% In August, Slightly Less Than Expected

The Commerce Department released a closely watched report on Wednesday showing consumer prices in the U.S. rose by slightly less than expected in the month of August. The Commerce Department said its personal consumption expenditures (PCE) price index increased by 0.3 percent in August following a revised 0.1 percent uptick in July.
RTTNews | 3 jam 38 menit yang lalu
U.S. Private Sector Job Growth Exceeds Estimates In September

U.S. Private Sector Job Growth Exceeds Estimates In September

Private sector employment in the U.S. jumped by more than expected in the month of September, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment shot up by 90,000 jobs in September after rising by a downwardly revised 36,000 jobs in August. Economists had expected private sector employment to increase by 70,000 jobs.
RTTNews | 4 jam 6 menit yang lalu
Canadian Stocks Poised For Gains On Oil, Metals Rally

Canadian Stocks Poised For Gains On Oil, Metals Rally

Canadian equities are expected to open higher Wednesday, supported by firmer crude oil and precious metals prices benefiting energy and materials sectors. Caution persists due to Middle East tensions and stalled U.S.-China trade negotiations.
RTTNews | 4 jam 40 menit yang lalu
Conagra Brands Q1 Profit Rises, Sales Down; Confirms FY27 View; Shares Drop

Conagra Brands Q1 Profit Rises, Sales Down; Confirms FY27 View; Shares Drop

Packaged foods major Conagra Brands, Inc. reported Wednesday higher first-quarter profit, despite weak sales mainly in Grocery & Snacks and Refrigerated & Frozen segments. Further, the firm maintained fiscal 2027 outlook. In the pre-market activity on the NYSE, the shares were trading 2.27 percent lower.
RTTNews | 5 jam 0 menit yang lalu