Author Archives: blackwhite

JPMorgan Chase & Co. upgraded shares of Murphy Oil (NYSE:MUR) from a neutral rating to an overweight rating in a research note issued to investors on Tuesday morning, Analyst Price Targets reports. The brokerage currently has $37.00 target price on the oil and gas producer’s stock, up from their prior target price of $29.00. Several other brokerages have also recently […]

Oil prices rose on Thursday, extending gains into a fourth session on positive comments from vaccine makers about the Omicron variant, even as some governments stepped up curbs to stop its rapid spread. U.S. West Texas Intermediate (WTI) crude futures rose 52 cents, or 0.7%, to $72.88 a barrel at 0455 GMT, adding to a […]

The Omicron relief rally stalls on reports of fresh lockdowns in Europe, while preliminary findings from South Africa appear to confirm that the effectiveness of current vaccines against the new strain is indeed at least partly reduced. Robinhood (NASDAQ:HOOD) stock jumps as its early backers remove a key overhang. There’s central bank action in Brazil, […]

-Asian shares staged a recovery on Tuesday on receding worries about the impact of the Omicron variant while Chinese markets were supported by the central bank easing monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.3% and was on course for its biggest jump in two months, after declining on Monday to […]

LONDON (Reuters) -BP supports adding U.S. crude oil grade WTI Midland on a delivered basis to the North Sea dated Brent benchmark, which underlies the Brent futures contract, according to a document seen by Reuters. Brent is vital to global oil trading as it is used to price more than half the world’s physical crude. […]

LONDON (Reuters) -Oil rose by more than $1 a barrel to above $71 on Monday as hopes that the Omicron coronavirus variant may cause mostly mild symptoms boosted riskier assets and as the prospect of an imminent rise in Iranian oil exports looked less likely. Helping ease Omicron concerns, reports in South Africa said cases […]

A gauge of global equities surged on Thursday as Wall Street rallied on hopes the Omicron COVID-19 variant will prove mild and will not halt a strongly recovering U.S. economy, while the dollar edged higher in choppy trading as risk appetite improved. The number of Americans filing new claims for unemployment benefits rose less than […]

Oil was mixed Friday morning in Asia, extending gains after the Organization of the Petroleum Exporting Countries and allies (OPEC+) decided to leave its supply addition plans unchanged at its latest meeting. However, the black liquid was still set for a sixth week of declines.

Oil remains extremely volatile ahead of tomorrow’s OPEC+ meeting when the group will decide if and how to respond to the Omicron news and last month’s coordinated SPR release by major consuming nations. On the latter, I don’t think there’ll be a direct retaliation – perhaps a warning – but it may feed into any […]

The plunge in oil prices in recent days was excessive, and traders “far overshot” the potential impact of the Omicron Covid variant Oil traders priced in a massive 7-million-bpd slump: Goldman Sachs A number of bullish factors set off bearish ones at the end of 2021The plunge in oil prices in recent days was excessive, […]