Tag: “Commodity”

Oil futures rose early Monday, with both Brent and West Texas Intermediate crude on track for big monthly advances following strong economic data.

Goldman Sachs forecasts “all-time high” demand in oil markets leading to a “sizeable deficit.”

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The world’s leading energy watchdog said global oil demand is now on track to climb by 2.2 million barrels per day in 2023 to reach an average of 102.1 million barrels per day.

FRANKFURT, July 12 (Reuters) – German chemicals giant BASF (BASFn.DE) on Wednesday cut its full-year earnings guidance, the latest in a string of chemical companies caught out by weak demand from industrial clients and higher interest rates.

Gold prices were slightly firmer Wednesday, trading at their highest levels since June, ahead of the release of the U.S. consumer-price index data that may give investors some insight into the future path of Federal Reserve interest rate rises.

Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates.

Global oil demand will rise to 110 million barrels a day in about 20 years, pushing the world’s energy demand up by 23%, said OPEC on Monday.

Oil prices lost some of last week’s gains Monday on fears about China’s growth ahead of expectations Beijing will cut another key interest rate Tuesday.

Disney on Tuesday revealed a shake-up of its movie release calendar, delaying several entries in the Avatar, Marvel and Star Wars franchises.

Toyota shares soared to a 16-month high Wednesday after shareholders of the world’s largest car manufacturer voted to retain Akio Toyoda as its chairman in a broad endorsement of the company’s governance and new electric vehicle strategy.

Modelo Especial has quietly overtaken Anheuser-Busch InBev’s Bud Light as the nation’s top-selling beer, punctuating the impact of a boycott that followed the brand’s controversial promotion by a transgender activist.

Vodafone and CK Hutchison, which owns the Three UK mobile network, agreed to merge their U.K. businesses, following talks that have been ongoing since last year, the companies said Wednesday.

Renault’s new Mobilize unit is in advanced talks with a major European retailer to provide charging boxes for electric vehicles, a Mobilize spokesperson told Reuters on Wednesday.

Shares of UnitedHealth Group and other insurance providers tumbled Wednesday after the company said that seniors have been catching up on procedures delayed during the pandemic, leading to rising costs for insurers.

The European Union on Wednesday charged Google with breaching antitrust rules in advertising technology, known as adtech, and may seek the breakup of parts of the tech giant’s business to allay the bloc’s concerns.

Advanced Micro Devices big chip launch may have left investors feeling uninspired but Wall Street was more enthusiastic and still thinks the semiconductor company can challenge Nvidia and be an AI winner.

Amazon Web Services, the world’s largest cloud computing provider, is considering using new artificial intelligence chips from Advanced Micro Devices Inc, though it has not made a final decision, an AWS executive told Reuters

Tesla‘s stock is wavering as investors wonder whether higher prices for its electric vehicles will power it to a 14th straight day of gains.

Shell will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan.

Global oil demand growth will trickle nearly to a halt in the coming years and peak this decade, according to the International Energy Agency, with Chinese consumption set to slow down after an initial pent-up recovery.