Natural Gas and Oil Forecast: Saudi Rerouting Eases Supply Risk as Hormuz Traffic Slumps
Saudi rerouting eases some crude supply fears as Hormuz traffic slumps, while WTI and Brent weaken technically and natural gas holds its recovery.
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Tech is leading, the Dow is lagging, and volatility is slipping. That looks less like a clean risk-on rally than a market marking time until the Federal Reserve speaks.
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Saudi rerouting eases some crude supply fears as Hormuz traffic slumps, while WTI and Brent weaken technically and natural gas holds its recovery.
The clothing chain, seen as a bellwether for the U.K. retail sector, reported a rise in earnings in the first half, lifted by better-than-expected revenue.
The yen has been weakening this week as the Federal Reserve's hawkish policy stance overshadowed expectations of an imminent rate increase from the Bank of Japan. That trend could continue.
Utilities stocks lagged the major equity indices in the quarter, due primarily to a strong rebound in the technology sector and improving investor sentiment. The Virtus Reaves Utilities ETF increased 2.71% in the quarter at Net Asset Value. Talen Energy and Vistra Corp led performance in the quarter.
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Japan and the United States are in talks to build a semiconductor factory as part of their $550 billion investment agreement, the Nikkei business daily reported on Thursday.
British clothing retailer Next edged up its annual profit outlook for the fourth time this year on Thursday, as it reported a 10.5% profit rise for its first half, when sales were boosted by the country's hot summer weather.
Global LNG prices could shoot higher this winter as Europe holds its lowest stocks in years and North Asian buyers face increased competition with the Strait of Hormuz still closed, executives said at an industry conference this week.
Treasury yields were little changed in Asian trade, absorbing Wednesday's Federal Reserve interest-rate hike and the prospect of more tightening to come.
Fidelity Limited Term Bond ETF is a shorter-duration investment-grade bond strategy, which is focused primarily on U.S. corporate credit. The sudden surge in inflation reset investors' expectations for near-term U.S. Federal Reserve interest-rate policy. The fund's yield-curve positioning detracted from relative performance.
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The Federal Reserve is raising interest rates again, and the effects could reach far beyond U.S. shores. For global markets, a renewed U.S. tightening cycle could mean a stronger dollar, greater pressure on currencies elsewhere.
Asian demand for liquefied natural gas is set to decline for a second consecutive year as the US-Israeli war on Iran curtails supplies from the Gulf, tightening market availability and lifting prices to multi-year highs that slash consumption.
Oil prices fall as Saudi Arabia reroutes crude through Oman, but key support levels keep the outlook for WTI and Brent positive.
Economists said the Fed chairman's view that policy isn't restraining the economy, and his emphasis on the energy shock, argue for a longer tightening campaign.
Oil prices fell as additional Saudi crude supplies eased concerns over disruptions to the kingdom's exports. Saudi Arabia's alternative export routes could restore some lost supply, but Middle East escalation remains a risk.
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Japanese stocks were higher, supported by bargain-hunting, as recent rising momentum in crude oil eases.
The Fed hiking is positive for the dollar, but there may not be enough central bank policy divergence out there to move its value much higher, said Monex USA.
Long-simmering worries about the technology's potential dangers have exploded into the global consciousness since Jacob Coxon's dire warning.