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☆ Asian shares track US futures higher, bonds hold gains
▼ + stars: | 2023-10-27 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Overnight, the European Central Bank left interest rates unchanged as expected, sending the euro briefly to a two-week low. S&P 500 futures rose 0.4% while Nasdaq futures rallied 0.7%, driven by a 5% jump in Amazon shares in after-hours trading. In a statement after the U.S. close, the tech giant predicted higher holiday season sales and a stabilisation in its cloud business. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) bounced 0.6% on Friday after hitting a fresh 11-month low a day ago. Brent crude futures climbed 0.5% to $88.38 a barrel while U.S. West Texas Intermediate was at $83.58 a barrel, up 0.4%.

Persons: Aly, Hong, HSI, Nathaniel Casey, Evelyn, Goldman Sachs, Stella Qiu, Sam Holmes Organizations: REUTERS, Nasdaq, European Central Bank, Bank of Japan, Tokyo's Nikkei, Evelyn Partners, 1bp, CME, Brent, West Texas, Thomson Locations: Shanghai, China, SYDNEY, U.S, Asia, Pacific, Japan, East, Israel, Gaza

SINGAPORE, Oct 27 (Reuters) - Oil prices rose by over $1 on Friday as reports that the U.S military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East producing region. Though the strike did not directly impact supply, it increases fears that the conflict in the Gaza Strip between Israel, backed by the U.S., and Hamas may spread and disrupt supply from major crude producer Iran, which backs Hamas. A wider war could also impact shipments from Saudi Arabia, the world's largest oil exporter, and other large producers in the Gulf. Both Brent and WTI are on track to post their first weekly drop in three weeks as the geopolitical premium built on these fears has ebbed as there has been no disruption of oil supply outside of the immediate region of the fighting. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.

Persons: Brent, WTI, Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Florence Tan, Sam Holmes, Christian Organizations: U.S, Brent, U.S . West Texas Intermediate, Islamic Revolutionary Guard Corps, Pentagon, Ocean, Investments, RBC Capital, Thomson Locations: SINGAPORE, Syria, Israel, U.S, Iraq, Gaza, Iran, Saudi Arabia, United States, Hormuz, Russia

☆ Oil dips after U.S. stockpiles climb, Middle East tensions in focus
▼ + stars: | 2023-10-26 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Investors were also digesting a rise in U.S. crude inventories, indicative of weak demand. Macroeconomic concerns continued to weigh on the outlook for oil demand, as euro zone business activity data took a surprise downturn this month. The dollar index was also up slightly on Thursday, which helps pressure oil prices. A stronger dollar dampens oil demand as it makes the commodity more expensive for those holding other currencies.

Persons: Angus Mordant, Brent, Tina Teng, Jeslyn Lerh, Gerry Doyle, Edwina Gibbs Organizations: REUTERS, U.S, West Texas, Wall Street Journal, Hamas, CMC, Investors, Energy Information Administration, Citi, Thomson Locations: Mentone, Loving County , Texas, U.S, Israel, SINGAPORE, Gaza

☆ Global recession and financial crisis could hit if the Israel-Hamas war pulls in the US and Iran, Wall Street veteran says
▼ + stars: | 2023-10-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The Israel-Hamas conflict may trigger a global recession and financial crisis, Jim Rickards says. The Wall Street veteran flagged the risks of rising oil prices, weaker demand, and de-dollarization. AdvertisementAdvertisementIf the Israel-Hamas conflict spreads, it could spark a worldwide downturn and financial catastrophe, one Wall Street veteran has warned. "We're losing the financial war in Ukraine, we're losing the financial war to the BRICs," he continued, referring to Brazil, Russia, India, China, and South Africa. AdvertisementAdvertisementRickards isn't the only expert sounding the alarm on the Israel-Hamas conflict.

Persons: Jim Rickards, —, Julia LaRoche, Rickards, We're, we're, Ray Dalio Organizations: Wall Street, Service, Wall, Hezbollah, Israel, Citibank, Term Capital Management, West Texas Locations: Israel, Gaza, Lebanese, Iran, American, Brent, Russia, Ukraine, Brazil, India, China, South Africa

☆ How oil could spike to $150, even $250 if Israel-Hamas war escalates, according to Bank of America
▼ + stars: | 2023-10-25 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Wall Street side of the Charlotte-based bank laid out scenarios where oil could hit $150 per barrel, or even $250, depending on how the war shakes out. The international oil benchmark Brent crude held around $88 Wednesday after trading closer to $94 late last week. Bank of America sees any escalation involving Iran triggering a jump to $120 to $130 per barrel. If a physical supply disruption occurs because of attacks on energy infrastructure, oil could surge above $130 a barrel, Bank of America said. If the strait is closed, oil prices can spike above $250 per barrel, the bank said.

Persons: BofA Organizations: Hamas, Bank of America, Brent, . West Texas, West Texas, U.S, Hezbollah, bbl Locations: Israel, Charlotte, Iran, Palestinian, Yemen, Iraq, Lebanon, Tehran, Syria, Lebanese, Hormuz

Euro zone business activity data took a surprise downturn this month, suggesting the bloc may slip into recession, creating a drag on the outlook for oil demand. Overall, the region's oil refineries have been consuming less crude than a year ago amid lacklustre economic growth, Euroilstock data has shown. Falling crude oil stockpiles in the U.S., the world's biggest oil consumer also supported prices. That went against eight analysts polled by Reuters who had estimated on average that crude inventories were up by about 200,000 barrels for the week. Gasoline inventories dropped by 4.2 million barrels, while distillate inventories fell by about 2.3 million barrels, the API data showed.

Persons: Nick Oxford, Israel, Vishnu Varathan, durably, Varathan, Stephanie Kelly, Muyu Xu, Tom Hogue Organizations: REUTERS, U.S, West Texas, Iran, Mizuho Bank, American Petroleum Institute, Reuters, Thomson Locations: Cushing , Oklahoma, Gaza, East, Israel, Palestinian, Saudi Arabia, China, U.S

☆ Oil nearly flat as macroeconomic concerns contend with tighter U.S. supply
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: +1 min

A view of oil platform Emmy off the coast of Huntington Beach at dusk Thursday, October 14, 2021. Oil prices were nearly flat on Wednesday as signs of tighter U.S. supplies countered economic data that dampened the outlook for energy demand. That went against eight analysts polled by Reuters who had estimated on average that crude inventories were up by about 200,000 barrels for the week. Meantime, euro zone business activity data took a surprise downturn this month, suggesting the bloc may slip into recession, which would drag on the outlook for oil demand. Investors kept an eye on the Middle East as well, as market participants fear a widening of the conflict there could roil oil markets and disrupt supplies.

Organizations: Brent, U.S, West Texas, American Petroleum Institute, Reuters, Bank of, Investors Locations: Huntington Beach, United States, Canada, Russia, Israel, Gaza, Palestinian

☆ Economists fear major disruption if the Israel-Hamas conflict is not contained
▼ + stars: | 2023-10-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

ReutersAny possible escalation of the Israel-Hamas war poses a major risk to the global economy, driving up energy prices and disrupting key trade routes, economists have warned. Israel's subsequent bombardment of Gaza in a bid to eliminate Hamas has increased the risk of a spillover to the wider Middle East region. The events in recent days have deepened the greatest fear among economists, that the conflict engulfs the region and begins to pose a long-term threat to global energy and trade infrastructure. Back then oil prices gained 30% in a matter of two weeks before settling at around 15% above pre-war levels," said J. Safra Sarasin Equity Strategist Wolf von Rotberg. "You choke off those points and you create major disruption not just to oil prices, but the whole supply chain of the world for energy and other goods as well."

Persons: Israel's, Isaac Herzog, Pat Thaker, Thaker, Brent, J . Safra Sarasin, J, Wolf von Rotberg, Elijah Oliveros, Rosen, Oliveros, Paul Gruenwald, Gruenwald Organizations: Hamas, Reuters, Palestinian, Lebanese, Hezbollah, Economist Intelligence Unit, CNBC, Fed, ECB, West Texas, J ., Safra Sarasin Equity Locations: Israel, Palestinian, Gaza, Lebanon, East, Africa, Saudi, Ukraine, Europe, Iran, Tehran, Saudi Arabia, Suez, Persian, Hormuz, U.S, Chile, Turkey, Thailand, Philippines, India, Egypt

☆ Jim Cramer says Microsoft's quarter was the best he's seen this year
▼ + stars: | 2023-10-25 | 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. "This was the best quarter that I've seen this year," Jim said Wednesday, adding that "it was a clinic conference call." 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, Tuesday's, Jim, Jim Cramer's Organizations: CNBC, Nasdaq, Treasury, Texas, Microsoft, Google, NFL, YouTube Locations: U.S

☆ The 'revenge of ancient American business' pushes U.S. equities higher
▼ + stars: | 2023-10-24 | 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. "The revenge of ancient American business is upon us," 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, Electric, GE, RTX Corp, Treasury, West Texas, Microsoft

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford//File Photo Acquire Licensing RightsNEW DELHI, Oct 24 (Reuters) - Oil prices rose on Tuesday, recovering some of the previous day's losses, as investors remained nervous that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions. But Israel continued its bombardment of Gaza on Monday after launching air strikes over southern Lebanon overnight. U.S. crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell, a preliminary Reuters poll showed on Monday. Reporting by Mohi Narayan in New Delhi and Yuka Obayashi in Tokyo; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Nick Oxford, Yuki Takashima, Israel, Vandana Hari, Takashima, Mohi Narayan, Yuka Obayashi, Sonali Paul Organizations: REUTERS, Brent, U.S, West Texas, Nomura Securities, Vanda Insights, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy, Thomson Locations: Cushing , Oklahoma, DELHI, Israel, U.S, Gaza, Lebanon, Palestinian, OPEC, China, New Delhi, Tokyo

☆ Asian shares hit 11-month lows; focus on US economic data
▼ + stars: | 2023-10-24 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.28% lower at 473.37, having touched 472.73 - the lowest since November 2022. China shares remained under pressure, with the Shanghai Composite Index (.SSEC) 0.32% higher, while Hong Kong's Hang Seng Index (.HSI) slid 0.5%. China's blue-chip CSI300 Index (.CSI300) was 0.2% higher after closing at its lowest level in 4-1/2 years on Monday. The dollar index was 0.038% lower at 105.56. The Japanese currency was last at 149.62 per dollar, having hit the symbolic 150 level on both Friday and Monday.

Persons: Tyrone Siu, Hong, Gary Dugan, bitcoin, Chris Weston, Jamie Freed Organizations: REUTERS, Rights, U.S . Federal Reserve, Nikkei, Shanghai, Dalma, Microsoft, Facebook, U.S . Commerce Department, Treasury, West Texas, Brent, Thomson Locations: Exchange, Hong Kong, China, Rights SINGAPORE, Asia, Israel, Pacific, Japan, Britain, France, United States

☆ Why Cramer remains optimistic on Halliburton despite a quarterly revenue miss
▼ + stars: | 2023-10-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

Traders work beneath a monitor displaying Halliburton Co. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, May 2, 2016. CNBC's Jim Cramer says don't turn bearish on Halliburton (HAL) yet — even as the oilfield services name tumbles on a slight revenue miss for its third-quarter earnings report. Halliburton, which reported quarterly results before Tuesday's opening bell, beat profit expectations but missed on revenue amid weakness in North America. "Let Halliburton [stock] come down, but this company's going to do just fine if oil stays at these prices," Cramer said on "Squawk on the Street." He cited Halliburton's track record of conserving capital and sees more demand for the company's services due to oil market dynamics.

Persons: CNBC's Jim Cramer, Jim Cramer's, Cramer, WTI Organizations: Halliburton, New York Stock Exchange, HAL, Texas, CNBC Investing Club, The, Coterra Energy Locations: New York, U.S, North America

☆ Oil prices rebound on Israel-Hamas war uncertainty
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: +2 min

An oil pump jack is seen in the Loco Hills region, New Mexico, U.S., April 6, 2023. Oil prices rose in early Asia trade on Tuesday, recovering some of the previous day's losses, as investors remained nervous that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions. Brent crude futures climbed 70 cents, or 0.8%, to $90.53 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude futures increased 71 cents, or 0.8%, to $86.20 a barrel. But Israel continued its bombardment of Gaza on Monday after launching air strikes over southern Lebanon overnight. U.S. crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell, a preliminary Reuters poll showed on Monday.

Persons: Yuki Takashima, Israel, Takashima Organizations: Brent, U.S, West Texas, Nomura Securities, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy Locations: New Mexico, U.S, Asia, Israel, Gaza, Lebanon, Palestinian, OPEC, China

☆ Oil prices ease as aid convoys arrive in embattled Gaza Strip
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: +2 min

A crane ship helps other vessels searching for oil and natural gas near the oil platform offshore the Red Sea in Ras Behar region, Egypt on January 29, 2023. Oil prices eased on Monday as aid convoys started to arrive in the Gaza Strip over the weekend amid diplomatic efforts to contain a conflict between Israel and the Palestinian Islamist group Hamas from spreading to the wider oil-rich region. "Israel agreed to hold off its attack on Hamas following pressure from the U.S.," ANZ Research said in a client note. Aid convoys started to arrive to the Gaza Strip from Egypt over the weekend, as Arab leaders and foreign ministers gathered for a summit in Cairo which was unable to yield a joint statement. In latest developments, Israel has bombarded Gaza with air strikes and its aircraft have struck Lebanon.

Persons: Israel, Joe Biden, Benjamin Netanyahu, Pope Francis . Organizations: Brent, . West Texas, ANZ Research, Organization of, Petroleum, Russia —, Aid, Sunday, Israeli, of France Locations: Ras Behar, Egypt, Gaza, Israel, Palestinian, U.S, Russia, Venezuela, Venezuelan, Cairo, Canada, France, Britain, Germany, Italy, Netherlands, Lebanon

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSummary Oil prices drop on Friday but gain over 1% for the weekHamas releases two US hostages in GazaEarlier, Israeli minister said troops to see Gaza 'from inside'Global oil market already faces supply concernsBENGALURU, Oct 20 (Reuters) - Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies. Brent crude futures fell 22 cents, or 0.2%, to settle at $92.16 a barrel. U.S. West Texas Intermediate crude futures for November delivery , which expired after settlement on Friday, fell 62 cents, or 0.7%, to $88.75 a barrel. Hamas' armed wing released two U.S. hostages from Gaza - a mother and her daughter - "for humanitarian reasons" in response to Qatari mediation efforts in the war with Israel, its spokesman Abu Ubaida said on Friday. "The report took some of the risk premium out of the market," said Phil Flynn, analyst at Price Futures Group.

Persons: Andrew Kelly, Abu Ubaida, Phil Flynn, Yoav Gallant, John Kilduff, Kilduff, Giovanni Staunovo, Brent, Staunovo, Shariq Khan, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely, David Gregorio, Jane Merriman Organizations: REUTERS, Hamas, Brent, . West Texas, Price Futures, Israeli, Pentagon, UBS, U.S . Commodity Futures Trading Commission, Thomson Locations: Manhattan , New York City, U.S, Gaza, BENGALURU, Hamas, Israel, Yemen, New York, Saudi Arabia, Russia

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. Brent crude futures rose $1.00, or 1.1%, to $93.26 a barrel by 11:24 a.m. EDT (1524 GMT). Both front-month contracts were headed for a second weekly gain on heightened fears of the Middle East conflict spreading. "The Middle East remains a big focus of the market because of fears of a region-wide conflict that would likely involve a disruption of oil supplies," said John Kilduff, a partner at New York-based Again Capital. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, John Kilduff, Kilduff, Yoav Gallant, Washington's, Phil Flynn, Tamas Varga, PVM, Shariq Khan, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely, David Gregorio Our Organizations: REUTERS, . West Texas, Israeli, Pentagon, . Strategic Petroleum Reserve, Price Futures, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, BENGALURU, Israel, New York, Yemen, Saudi Arabia, Russia, OPEC

All three benchmarks had gained more than $1 in earlier trading, and both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. So far, however, the supply situation on the market has not changed," Commerzbank analysts wrote in a note on Friday. Oil prices are "likely to remain well supported, especially as the oil market is significantly undersupplied at present", they said. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, Yoav Gallant, Tamas Varga, PVM, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely Organizations: REUTERS, Brent, . West Texas, Israeli, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, Israel, Yemen, Saudi Arabia, Russia, United States, Washington, OPEC, London

Both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. So far, however, the supply situation on the market has not changed," Commerzbank analysts wrote in a note on Friday. Oil prices are "likely to remain well supported, especially as the oil market is significantly undersupplied at present", they said. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, Yoav Gallant, Tamas Varga, PVM, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely Organizations: REUTERS, Minister, Brent, . West Texas, Israeli, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, Israel, Yemen, Saudi Arabia, Russia, United States, Washington, OPEC, London

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSINGAPORE, Oct 20 (Reuters) - Oil prices extended gains on Friday and were on track for a second week of increases on heightened fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions. Both contracts are on track to post a second weekly gain as an explosion at a Gaza hospital this week and the anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "The prospect of more Venezuela oil did little to ease concerns of disruptions in the Middle East," analysts at ANZ Research said in a note to clients on Friday. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Gerry Doyle and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Tony Sycamore, Yoav Gallant, Sycamore, Florence Tan, Sudarshan, Gerry Doyle Organizations: REUTERS, Rights, Brent, . West Texas, Israel Defence Forces, Israeli, U.S, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, ANZ Research, Thomson Locations: Manhattan , New York City, U.S, Rights SINGAPORE, Israel, Gaza, Yemen, Saudi Arabia, Russia, United States, Washington, Venezuela, OPEC

☆ What we'll be watching when these 10 companies report next week
▼ + stars: | 2023-10-20 | 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. Next week, we run the earnings gauntlet with 10 companies in the Club's portfolio reporting. 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, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Treasury, West Texas, Microsoft, Honeywell, Linde, LIN, Amazon Web, Ford, Jim Cramer's Charitable

☆ Oil climbs on Mideast contagion fears from Israel-Gaza conflict
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: +2 min

Oil prices extended gains on Friday, rising about 1% on fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions. Brent crude futures climbed 77 cents, or 0.8%, to $93.15 a barrel by 0042 GMT. U.S. West Texas Intermediate crude was at $90.36 a barrel, up 99 cents, or 1.1%. Israeli Defence Minister Yoav Gallant told troops gathered at the Gaza border on Thursday that they would soon see the Palestinian enclave "from inside," suggesting an expected ground invasion could be nearing. Venezuelan state-run oil company PDVSA has begun contacting customers with crude supply contracts, two people familiar to the matter said on Thursday, moving to resume cash sales to global refiners.

Persons: CLc2, Tony Sycamore, Yoav Gallant, Sycamore, PDVSA Organizations: Brent, . West Texas, Israel Defence Forces, Israeli, U.S, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters Locations: Israel, Gaza, Yemen, Saudi Arabia, Russia, United States, Washington, Venezuela, OPEC, Venezuelan

☆ What the return of China's high rollers to Macao means for Wynn Resorts
▼ + stars: | 2023-10-19 | 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. In gambling hub Macao, China — where Club holding Wynn Resorts (WYNN) also operates — LVS' EBITDA was up $90 million sequentially, with improved margins. 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, Jerome Powell, EBITDA, Craig Jelinek, Ron Vachris, Varchis, Jelinek, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Investors, Federal, West Texas, Wynn Resorts, WYNN, Wynn, Club, Costco Wholesale, Costco – Locations: Macao, China

☆ Oil falls as Israel embargo concerns fade, Venezuela sanctions to ease
▼ + stars: | 2023-10-19 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell on Thursday, reversing gains in the previous session, after OPEC showed no signs of supporting Iran's call for an oil embargo on Israel and as the United States plans to ease Venezuela sanctions to allow more oil to flow globally. Oil prices climbed about 2% in the previous session on concerns about disruptions to global supplies after Iran called for an oil embargo on Israel over the conflict in Gaza and after the U.S., the world's biggest oil consumer, reported a larger-than-expected inventory draw, adding to already tight supplies. Venezuela's oil flows could help to ease global oil prices, up amid the Israel-Hamas conflict, sanctions on Russia and OPEC+ decisions to reduce output, but Venezuela needs investments to boost output following years of sanctions. Distillate fuel stockpiles fell by 3.2 million barrels in the week to Oct. 13 to 113.8 million barrels, EIA data showed. Crude inventories fell by 4.5 million barrels to 419.7 million barrels, while gasoline fell by 2.4 million barrels to 223.3 million barrels.

Persons: WTI Organizations: OPEC, Brent, . West Texas, of, Petroleum, Iran's, RBC Capital Markets, Citi, United, Venezuelan, Energy Information Administration, Reuters Locations: Cushing , Oklahoma, Israel, United States, Venezuela, Iran, Gaza, U.S, Kazakhstan, Azerbaijan, Iraq, Russia, OPEC

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