DIRS.INFO The most relevant business & tech news

U.S. crude stocks rose by 3.6 million barrels in the last week to 421.9 million barrels, according to the U.S. Energy Information Administration (EIA), far exceeding analysts' expectations in a Reuters poll for a 1.8 million-barrel rise. U.S. domestic crude production stayed at a record 13.2 million barrels per day, the data showed. In an indication of strong demand, gasoline stocks saw a surprise draw of 1.5 million barrels, while diesel stocks drew more than expected at 1.4 million barrels. American Petroleum Institute figures on Tuesday had showed rising crude oil and gasoline inventories last week, according to market sources. Downward pressure on oil prices may come from the supply side, with the United States "likely at peak production for crude," while the delayed release of its oil data makes the investment situation more opaque, Evans said.

Persons: Agustin Marcarian, Brent, John Evans, PVM, Evans, Arathy Somasekhar, Paul Carsten, Sudarshan Varadhan, Laura Sanicola, Raju Gopalakrishnan, Mark Potter, Jane Merriman, Emelia, Alexandra Hudson Organizations: REUTERS, HOUSTON, . West Texas, U.S . Energy Information Administration, American Petroleum Institute, International Energy Agency, Organization of, Petroleum, Financial Times, European Union, Alexandra Hudson Our, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Denmark, U.S, China, United States, Houston, London

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSummary Denmark could block Russian tankers in its waters -FTUS oil supply could be keeping prices down -analystInflation cools in US, UKLONDON, Nov 15 (Reuters) - Oil prices dipped on Wednesday amid signs the United States, the world's biggest oil producer, is at peak production, offsetting positive crude demand signals from top consumer China. The International Energy Agency joined the Organization of the Petroleum Exporting Countries and its allies (OPEC+) in raising oil demand growth forecasts for this year, despite projections of slower economic growth in many major countries. Downward pressure on oil prices may come from the supply side, with the United States "likely at peak production for crude," while the delayed release of oil data from the world's biggest producer makes the investment situation more opaque, Evans said. A weaker dollar can boost oil demand by making crude cheaper for buyers using other currencies.

Persons: Agustin Marcarian, Brent, John Evans, Evans, Paul Carsten, Sudarshan Varadhan, Laura Sanicola, Raju Gopalakrishnan, Mark Potter, Jane Merriman Organizations: REUTERS, LONDON, U.S, West Texas, International Energy Agency, Organization of, Petroleum, U.S . Energy Information Administration, Financial Times, European Union, Federal Reserve, U.S ., Bank of, European Central Bank, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Denmark, United States, China, London

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsNov 15 (Reuters) - Oil prices rose in early Asian trade on Wednesday on Middle East tensions and a weaker dollar, while investors focused on inventory data after a two week delay in reporting. Brent futures rose 8 cents to $82.55 a barrel by 0013 GMT, while U.S. West Texas Intermediate (WTI) crude rose 2 cents to $78.28. The U.S. Energy Information Administration (EIA) will release its first oil inventory report in two weeks on Wednesday. A weaker dollar can boost oil demand by making crude cheaper for buyers using other currencies.

Persons: Agustin Marcarian, Brent, Al Shifa, Joe Biden, Xi Jinping, Miral Organizations: REUTERS, U.S, West Texas, Tuesday U.S, U.S . Energy Information Administration, American Petroleum Institute, International Energy Agency, U.S . Federal, U.S ., Asia Pacific Economic Cooperation, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Gaza's, San Francisco

☆ You can thank China and record US oil output for lower gas prices
▼ + stars: | 2023-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But the cost of crude oil has been largely declining since the middle of October. The average for a gallon of gas in the United States, meanwhile, dropped to $3.37, according to AAA. This “steady, if slow” decline in gas prices, said an AAA spokesperson, may soon gain speed if oil prices continue their descent. They’re more concerned with economic weakness in China and an increase in oil production in the United States. In the first week of November, US crude oil production reached a new record of 13.2 million barrels per day.

Persons: ” David Kelly, ”, ” David Morrison, refiners, ” Craig Erlam, Brent, Chris Isidore, “, Ted Decker, Refinitiv, Read, Homebuyers Organizations: CNN Business, Bell, New York CNN, AAA, Asset Management, Federal Reserve, Trade, China’s National Bureau of Statistics, . West Texas Intermediate, International Energy Agency, Revenue, National Association of Realtors, Census Locations: New York, Europe, Saudi Arabia, Russia, United States, China, Iran, America, United

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsLONDON/NEW YORK, Nov 13 (Reuters) - Global stocks traded cautiously on Monday as the market's focus turned to U.S. inflation data for more clues on whether global interest rates really have peaked. Economists polled by Reuters expect to see headline consumer price inflation in the U.S. slow to 3.3% in October from 3.7% the month before, although the so-called core inflation rate that strips out volatile components is seen unchanged. "But now, the Treasury market has already priced in a pause, so there's not much room for Treasury yields to fall further," removing a support for the stock market. "In short, I don't think the stock market rally is going to continue."

Persons: Brendan McDermid, Naka Matsuzawa, Joe Biden, Xi Jinping, Naomi Rovnick, Nell Mackenzie, Kevin Buckland, Jacqueline Wong, Mark Heinrich Our Organizations: New York Stock Exchange, REUTERS, Global, Dow, Nasdaq, Barclays, Federal Reserve, Reuters, Nomura Securities, Treasury, Economic Cooperation, Brent, . West Texas, Thomson Locations: New York City, U.S, Israel, United States, Asia, San Francisco, Iraq, London, Tokyo

Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. The U.S. Energy Information Administration (EIA) said last week crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall. That is "not a prospect that crude oil will welcome given that recent data in China and the U.S. has brought growth fears back to the surface," he said. Weak economic data last week from China, the world's biggest crude oil importer, increased fears of faltering demand. Additionally, refiners in China asked for less supply from Saudi Arabia, the world's largest exporter, for December.

Persons: magnifier, Dado Ruvic, Baker Hughes, Brent, Hiroyuki Kikukawa, Jerome Powell, Tony Sycamore, Kikukawa, Yuka Obayashi, Colleen Howe, Lincoln, Bernadette Baum Organizations: REUTERS, U.S . Federal, U.S . West Texas, NS, Nissan Securities, U.S . Energy Information Administration, IG, U.S, Organization of, Petroleum, Thomson Locations: BEIJING, United States, China, U.S, Iraq, Israel, refiners, Saudi Arabia, Russia

Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Baker Hughes Co FollowTOKYO, Nov 13 (Reuters) - Oil prices eased on Monday, reversing their rally on Friday, as renewed concerns over waning demand in the United States and China dented market sentiment. The U.S. Energy Information Administration (EIA) said last week that crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall. Weak economic data last week from China, the world's biggest crude oil importer, also increased fears of faltering demand. Additionally, refiners in China asked for less supply from Saudi Arabia, the world's largest exporter, for December.

Persons: magnifier, Dado Ruvic, Baker Hughes, Brent, Hiroyuki Kikukawa, Kikukawa, Yuka Obayashi, Shri Navaratnam Organizations: REUTERS, U.S . West Texas, NS, Nissan Securities, U.S . Energy Information Administration, Organization of, Petroleum, Thomson Locations: United States, China, U.S, Iraq, Israel, refiners, Saudi Arabia, Russia

☆ Stocks gain, bonds calm as Fed outlook trumps Moody's downgrade
▼ + stars: | 2023-11-13 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. The U.S. dollar index hovered below its post-payrolls-report high of 106.01, reached on Friday, last trading little changed around 105.80. "But now, the Treasury market has already priced in a pause, so there's not much room for Treasury yields to fall further," removing a support for the stock market, he added. "In short, I don't think the stock market rally is going to continue."

Persons: Issei Kato, Wall, HSI, Naka Matsuzawa, Kevin Buckland Organizations: REUTERS, Rights, Tech, Federal Reserve, U.S, Japan's Nikkei, Nomura Securities, Treasury, Brent, U.S . West Texas, Thomson Locations: Tokyo, Japan, Asia, U.S, United States, China, Iraq

☆ Oil set for third weekly decline as demand worries weigh
▼ + stars: | 2023-11-10 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Both contracts are set to fall about 5% on the week. "Concerns about demand have replaced the fear of production outages related to the Middle East conflict," Commerzbank said. Weak Chinese economic data this week increased worries of faltering demand. Additionally, refiners in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less supply from Saudi Arabia for December.

Persons: Angus Mordant, Commerzbank, Helima Croft, Sudarshan Varadhan, Nick Macfie Organizations: REUTERS, Brent, U.S, West Texas, of, Petroleum, RBC Capital Markets, Citi, Thomson Locations: Loving County , Texas, U.S, refiners, China, Saudi Arabia, Russia, Singapore

☆ Oil is struggling this week but could be primed for a near-term bounce, analysts say
▼ + stars: | 2023-11-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Oil prices may be due for a pop after their recent struggles, according to two analysts. International benchmark Brent is down 3.7% this week, while U.S. West Texas Intermediate futures have lost nearly 4%. Flynn said virtually everyone in the market right now is short oil futures. "You could easily mount a recovery here because we're probably the most oversold in a year in the market," said Flynn. OPEC+ will meet in two weeks and could take action to defend prices while there's still a low risk of regional war.

Persons: Phil Flynn, Flynn, we're, Hossein Amir, Abdollahian, Qatar's Sheikh Mohammed bin Abdulrahman, Maximilian Layton, there's, Layton Organizations: Brent, U.S, West Texas, Price Futures, Iranian, Iran's Press, Citi Locations: Europe, China, Qatar's Sheikh Mohammed bin Abdulrahman Al Thani, Gaza, OPEC, Israel, Iran

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures for January were flat at $80.01 a barrel at 0157 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $75.67, down 7 cents. "The conflict remains well contained within Gaza, despite concerns it would escalate as neighbouring Arab nations show their displeasure." The sense supply disruptions from the Israel-Hamas conflict are easing is occurring as concerns around demand, especially from China, the world's largest oil importer, are rising. Additionally, refiners in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less supply from Saudi Arabia for December.

Persons: Angus Mordant, Brent, WTI, Israel, Sudarshan Varadhan, Christian Schmollinger Organizations: REUTERS, Rights, Brent, U.S . West Texas, ANZ Research, Citi, of, Petroleum, Thomson Locations: Loving County , Texas, U.S, Rights SINGAPORE, Israel, Gaza, China, refiners, Saudi Arabia

☆ A bullish bet on Exxon Mobil using options after decline in crude oil prices
▼ + stars: | 2023-11-10 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +4 min

@CL.1 YTD mountain WTI in 2023 Despite all of that sounding quite bleak for energy and oil, I believe there is opportunity in Exxon Mobil . Exxon is the world's largest refiner with a total global oil refining capacity of nearly 5 million barrels per day. The option strategy that I will utilize is a credit spread, better known as a risk reversal. This risk reversal is being used as an aggressive bull trade. Being forced to buy Exxon Mobil lower than where I initially opened the risk reversal is still a better outcome than if I would have simply purchased the stock outright.

Persons: Brian Sullivan, Sully, XOM Organizations: West Texas, Exxon Mobil, Exxon Locations: China

☆ Why Cramer would be an 'aggressive buyer' of Coterra Energy
▼ + stars: | 2023-11-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "I do think this rally is real," Jim Cramer said Friday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Bond, Morgan Stanley, Morgan Stanley's, Jim, Thomas Jorden, Jim Cramer's Organizations: CNBC, Nasdaq, Treasury, West Texas, Palo Alto Networks, Palo, Coterra Energy, repricing Locations: billings, Alto

☆ Cramer encourages investors to buy Wynn Resorts with earnings in focus
▼ + stars: | 2023-11-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. U.S. stocks were mainly lower in Thursday morning trading, with the S & P 500 down 0.13% after eight-straight sessions of gains. Club name Wynn Resorts (WYNN) reports third-quarter results after the closing bell Thursday, with the casino operator's business in Macao, China, in focus. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Walt Disney, Bob Iger, Hugh Johnston, Jim, bode, Wynn, Jim Cramer's Organizations: CNBC, Treasury, West Texas, Club, Walt, Wynn Resorts, WYNN, Gross, MGM Resorts, MGM Locations: Macao, China

☆ What to watch for when Disney reports after the close on Wednesday
▼ + stars: | 2023-11-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Club holding Walt Disney (DIS) reports quarterly results after the closing bell Wednesday. Citi on Wednesday said it expects Club holding TJX Companies (TJX) to deliver a third-quarter beat and guidance raise when it reports on Nov. 15, citing continued momentum at its HomeGoods department store. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Nelson Peltz, TJX, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Microsoft, Treasury, West Texas, Walt Disney, Disney, Hulu, ESPN, Citi, TJX Companies, Jim Cramer's Charitable

☆ CNBC Daily Open: Strange, but good, things are happening in markets and the economy
▼ + stars: | 2023-11-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Spencer Platt | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meanwhile, the 10-year Treasury yield fell around 10 basis points to 4.569% and the 2-year yield slipped 3 basis points to 4.915%. As Treasury yields serve as the benchmark for interest rates on loans and cash investments, sinking yields generally benefit rate-sensitive companies more. Both the economy and markets have truly acted in strange, unprecedented ways ever since the pandemic.

Persons: Spencer Platt, they're, WTI's, that's, Alastair Pinder, Austan Goolsbee, — Organizations: New York Stock Exchange, Getty, CNBC, West Texas Intermediate, Brent, Treasury, Big Tech, Amazon, Nasdaq, Dow Jones, Dow, U.S . Federal, HSBC, Chicago Federal Locations: New York City, That's, Israel

☆ Greenlight's David Einhorn — up 27% this year — is on a 'buyers' strike' and worries about geopolitics
▼ + stars: | 2023-11-08 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's hedge fund returned 12.9% in the third quarter, bringing its 2023 gains to 27.7%. "The complacent investor view that geopolitics should be ignored might be true, except for the times when it isn't. "Higher oil prices would squeeze the consumer and likely cause a recession. His stellar track record made him one of the most followed hedge fund managers on Wall Street. Einhorn said his biggest winners in the third quarter were Consol Energy , Capri Holdings and Black Knight.

Persons: Greenlight Capital's David Einhorn, Einhorn, Russia's, he's, Black Knight Organizations: CNBC, Federal Reserve, West, Cornell grad, Greenlight Capital, Wall, Consol Energy, Capri Holdings, Black Locations: Ukraine, U.S, West Texas

☆ CNBC Daily Open: Goolsbee’s ‘golden path’ is still visible
▼ + stars: | 2023-11-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

David Paul Morris | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineLast month's sudden surge in Treasury yields and oil prices — both of which tend to suppress investors' appetite for stocks — looks to be ending. As Treasury yields serve as the benchmark for interest rates on loans and cash investments, sinking yields generally benefit rate-sensitive companies more. Chicago Federal Reserve President Austan Goolsbee told CNBC, "Because of some of the strangeness of this moment, there is the possibility of the golden path ... that we got inflation down without a recession."

Persons: Goolsbee, David Paul Morris, they're, WTI's, that's, Alastair Pinder, Austan Goolsbee, — Organizations: Federal Reserve Bank of Chicago, Bloomberg, Getty, CNBC, West Texas Intermediate, Brent, Treasury, Big Tech, Amazon, Nasdaq, Dow Jones, Dow, U.S . Federal, HSBC, Chicago Federal Locations: Moran , Wyoming, That's, Israel

☆ What orange juice futures tell us about the state of our world
▼ + stars: | 2023-11-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Cocoa and orange juice futures have hit multi-decade highs as climate change and harsh weather takes their toll on crops in warmer climates. Here’s the latest in the commodities market:Orange juiceOrange juice futures have soared to their highest levels since the commodity began trading in 1966. The January contract for frozen concentrated orange juice is currently sitting around $3.95, up nearly 94% so far this year. The rally has led to a rise in speculative betting, leading some analysts to call orange juice futures the new GameStop. But “the eventual crash in the price of orange juice will be one for the record books,” he quipped.

Persons: Nicole, it’s, they’re, ”, Dave Reiter, It’s, Brent, David Morrison, stoking, That’s, WeWork, Nathaniel Meyersohn, Ermengarde Jabir, Alicia Wallace, “, Ted Rossman Organizations: CNN Business, Bell, New York CNN, OJ, Sunshine State, Futures, GameStop, Reiter Capital Investments, Cocoa, West Texas Intermediate, “ Traders, Trade Nation . Energy, Wheat, Organisation for Economic Co, Federal Reserve Bank of New, New York Fed Locations: New York, Ukraine, Orange, US, Brazil, Mexico, Florida, Ghana, Ivory Coast, Ivory, Chicago, Southeast Asia, Europe, China, Russia, America, United States

☆ Why oil is down since the Hamas-Israel conflict started and whether that can last
▼ + stars: | 2023-11-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +8 min

A risk premium should be present somewhere in oil prices, Papic wrote. "If the Hamas attack leads to a regional conflict in the world's most important oil producing geography, then oil prices should catch a bid… any bid. Beijing's crude oil imports rose in October, but the country's overall exports fell more than expected, indicating the global economy may be slowing. The biggest risk for oil prices is a decline in Iranian oil exports by 300,000 to 500,000 barrels per day, the bank cautioned. The U.S. House of Representatives last week passed a bill to harden sanctions on Tehran's crude exports in an overwhelming bipartisan vote following the Hamas' attacks.

Persons: Netanyahu, Marko Papic, Papic, Oil's, Ellen Wald, Wald, Ayatollah Ali Khamenei, Giovanni Staunovo, Staunovo, Joe Biden, Mike Rothman, Rothman Organizations: Brent, West Texas, Clocktower, U.S . Energy, UBS, OPEC, U.S . House, Iran's, Bank, World Bank, Gulf Cooperation Council, GCC, Washington, Cornerstone Analytics, JPMorgan Locations: Israel, @CL, Gaza, Yemen, Lebanon, Iran, Syria, China, U.S, Europe, Saudi Arabia, Russia, Strait, Hormuz, Ukraine, Riyadh, India, Japan, South Korea, Republic, Staunovo, Tehran, Gulf States

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. Brent crude futures closed below $84 a barrel for the first time since Hamas Islamists' Oct. 7 attack on Israel. A recovery in oil exports from the Organization of Petroleum Exporting Countries also added to the pressure on oil prices, UBS analyst Giovanni Staunovo said. On the demand side, China's crude oil imports in October showed robust growth but its total exports of goods and services contracted at a quicker pace than expected. "There are concerns in the oil markets about both rising supply and sliding demand," said Mizuho analyst Robert Yawger.

Persons: Nick Oxford, Powell, Craig Erlam, Giovanni Staunovo, Staunovo, Brent, Fiona Cincotta, Neel Kashkari, Jerome Powell, Robert Yawger, It's, Shariq Khan, Trixie Yap, Yuka Obayashi, David Gregorio, Matthew Lewis Organizations: Midland , Texas U.S, REUTERS, bbl, BENGALURU, Brent, U.S, West Texas, Traders, Organization of Petroleum, UBS, U.S . Energy Information Administration, ., Minneapolis Federal, Investors, Thomson Locations: Midland , Texas, Israel, U.S, Bengaluru, Singapore, Tokyo

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsNov 7 (Reuters) - Oil prices slipped by 1% on Tuesday, erasing most of Monday's gains, as mixed economic data from the world's second largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts. Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Expectations of crude run reductions by China-based refiners between November and December may limit oil demand and exacerbate price declines. Looking ahead on the supply side, markets are waiting to see how long Saudi Arabia and Russia are ready to rein in production. Moscow also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.

Persons: Nick Oxford, Leon Li, Kelvin Wong, Trixie Yap, Yuka Obayashi, Jamie Freed, Simon Cameron, Moore Organizations: Midland , Texas U.S, REUTERS, Brent, U.S, West Texas, Markets, ING, Thomson Locations: Midland , Texas, China, Saudi Arabia, Russia, Shanghai, OPEC, Moscow, Singapore, Tokyo

☆ Cramer on why enterprise software stocks are pulling the market higher
▼ + stars: | 2023-11-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. A quarterly beat and guidance raise from Datadog (DDOG) was lifting enterprise software names like Club holdings Salesforce (CRM), Microsoft (MSFT) and Oracle (ORCL), Jim Cramer said Tuesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Jim Cramer's Organizations: CNBC, Nasdaq, Microsoft, Oracle, Treasury, West Texas, Barclays, Constellation Brands, Coterra Energy, Emerson, Jim Cramer's Charitable Locations: Datadog

☆ Oil prices ease as market awaits China data to gauge demand
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world's second-largest oil consumer. Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. "Oil prices were supported by continued output cuts by Saudi and Russia the previous day but investors' attention has shifted to demand, especially in China," said Toshitaka Tazawa, an analyst at Fujitomi Securities, noting all eyes are on data from China this week. "We expect to see a tug-of-war at the levels near the current oil prices going forward, while digesting news on both supply and demand sides," Tazawa said, adding the trend may change dramatically if the Middle East situation becomes more tense. Moscow also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.

Persons: Toshitaka Tazawa, Tazawa, Benjamin Netanyahu, Israel Organizations: Brent, West Texas, Saudi, Fujitomi Securities Locations: San Joaquin Valley, McKittrick , California, China, Saudi Arabia, Russia, Gaza, Moscow, Venezuela's

LAUNCESTON, Australia, Nov 7 (Reuters) - Saudi Arabia made two recent decisions that on the surface seem to indicate a steady crude oil market outlook but may point to a ticking up in concern over the state of demand. It's also likely that softer demand for refined products in Asia amid economic uncertainty led to Aramco's decision to keep the Arab Light OSP unchanged. The extension of the additional 1 million bpd cut is perhaps a tacit admission that crude oil demand isn't as strong as OPEC has been expecting. Asia's crude imports showed some resilience in October, rising to 27.36 million bpd from 26.60 million bpd in September, according to data compiled by LSEG. China, the world's biggest importer, saw arrivals of 11.90 million bpd in October, up from September's 11.18 million bpd, but both these months were down on August's 12.49 million bpd.

Persons: It's, Brent, Robert Birsel Organizations: Saudi Aramco, refiners, Aramco, Brent, West Texas Intermediate, OPEC, LSEG, world's, Saudi, Reuters, Thomson Locations: LAUNCESTON, Australia, Saudi Arabia, Saudi, Oman, Dubai, Asia, Singapore, Israel, Gaza, Atlantic, refiners, China, Russia

Search resuls for: "Texas Intermediate"

25 mentions found