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☆ U.S. crude oil on pace to eke out second weekly gain on Middle East war risk
▼ + stars: | 2024-10-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil on Friday was on pace to eek out its second weekly gain in a row as Israel prepares to retaliate against Iran. Oil prices have gained more than 10% through Thursday's close since Iran hit Israel with ballistic missiles last week. Here are Friday's energy prices:Israel's security cabinet met Thursday to discuss the country's response to Iran's attack, according to media reports. Traders have worried that Israel will hit Iran's oil industry, potentially triggering a cycle of escalation that causes a significant disruption of supplies in the Middle East. Croft warned, however, that the U.S. influence may have waned since April, when Israel's response to Iran's first missile and drone attack was relatively muted.

Persons: Natasha Kaneva, Morgan, Joe Biden, Benjamin Netanyahu, Biden, Israel, Helima Croft, Croft Organizations: Brent, Traders, RBC Capital Markets Locations: Iran, The U.S, Israel

☆ Earnings growth should continue to drive the S&P 500, says UBS
▼ + stars: | 2024-10-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The S & P 500 touched a record in early trading and was headed for its fifth-straight winning week. Excluding the energy sector, S & P 500 profit growth should be 8-10%," the bank wrote in a note to clients. "Many of these companies are benefiting from continued strong growth in AI investment spending and monetization," UBS added. "In aggregate, the Magnificent 7 will account for 21% of S & P 500 profits in 2024 and closer to 25% in 2025." The bank sees the S & P 500 climbing to 5,900 by year end and 6,200 by June 2025.

Persons: Banks, Wells Organizations: UBS, Investors, JPMorgan Chase, Federal Reserve Locations: Wells Fargo, BlackRock

☆ Saudi sovereign wealth fund allocates $5.2 billion in green bonds project amid diversification push
▼ + stars: | 2024-10-11 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

The PIF became the first sovereign wealth fund to issue a green bond back in October 2022. The mammoth sovereign wealth fund, which oversees $925 billion in assets, has a capital expenditure requirement of $19.4 billion for what it deems "eligible green projects," according to the PIF's annual report. Saudi Arabia has a stated goal of reaching net-zero greenhouse gas emissions by 2060 and has poured billions of dollars into what it says are sustainable development projects. It describes a water sustainability project planned for Neom that will develop "a fully-circular system to achieve water positivity" enabling "100% wastewater recapture and energy-neutral recycling." Neom Green Hydrogen — a joint venture between Neom and Saudi firms ACWA Power, Air Products — will be the world's largest green hydrogen plant and will operate "entirely on renewable energy," according to the report.

Persons: Prince Mohammed bin Salman's, Philip Oldfield Organizations: Saudi, Public Investment Fund, Renewable Energy, Green, Sustainable Water Management, United Nations Sustainable, University of New, ACWA Power, Air Products Locations: Saudi Arabia, Saudi, University of New South Wales, Neom

☆ 'Succession' star Nicholas Braun plays 2 very different characters in 'Saturday Night' — but that wasn't always the plan
▼ + stars: | 2024-10-11 | by ( Olivia Singh | ) www.businessinsider.com time to read: +4 min

"Succession" actor Nicholas Braun stars as Andy Kaufman and Jim Henson in "Saturday Night." Jason Reitman, the film's director, said that Jim Henson was written with Braun in mind to play the role. Braun also landed a second job as Kaufman after Benny Safdie had to drop out of the movie. Braun, known for his Emmy-winning role as the bumbling, awkward Greg Hirsch on HBO's "Succession," stars as both Jim Henson and Andy Kaufman in "Saturday Night." Advertisement"As we kept on thinking about who would be right for Andy Kaufman, we just kept on coming back to Nicholas Braun," Reitman told IndieWire.

Persons: Nicholas Braun, Andy Kaufman, Jim Henson, Jason Reitman, Braun, Kaufman, Benny Safdie, —, Jason Reitman's, Greg Hirsch, HBO's, Eddie Murphy, Tina Fey, Dan Aykroyd, Reitman's, Jose Perez, Bauer, Griffin, Reitman, IndieWire, Gil Kenan, Henson, Kenan, Hopper, Sony Pictures Braun, Safdie, " Braun, Jim would've, Andy Organizations: Service, NBC, Hopper Stone, Sony Pictures Locations: Atlanta

☆ Elon Musk wants to take humanoid robots mainstream with Optimus. Making them 'the biggest product ever' will be tough.
▼ + stars: | 2024-10-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Tesla plans to unleash a new generation of humanoid robots. Related storiesMusk's plans to make humanoid robots mainstream face some tough challenges, however. Before these new iterations were revealed, industry watchers were already predicting explosive growth in the humanoid robotics market. AdvertisementIt is unclear how Musk's Optimus robots will stand out in this fast-growing market and become "the biggest product ever of any kind." Making further improvements to humanoid robots is a tough technical challenge.

Persons: Tesla, Elon Musk, Optimus, Musk, —, Elon, Cybertruck, livestream, Jensen Huang, Huang, Goldman Sachs, Paul Miller, Forrester, Jim Fan, Gene Organizations: Service, Warner Bros, Elon, Tech, Amazon, Oregon State University, Robotics, Nvidia, Star Wars, Hyundai, Boston Dynamics, Deepwater Asset Management, Optimus Locations: Burbank , California

☆ Milwaukee’s Black voters expose cracks in Democratic foundation for Harris
▼ + stars: | 2024-10-11 | by ( John King | ) edition.cnn.com time to read: +8 min

“How do you feel about Kamala Harris?” Johnson asks when a woman answers the door and steps out onto the porch. … She’s making a good image for herself and for the Democrats.”A year ago, Lang was blunt about Biden’s struggles in Milwaukee’s Black neighborhoods. “If I were a gambling man, I would probably put my money on Harris,” Jones told us in an interview at Confectionately Yours, a new Black-owned coffee shop and bakery on Milwaukee’s Martin Luther King Jr. Drive. Milwaukee-based entrepreneur Eric Jones describes the change in "energy" and voter enthusiasm since Vice President Kamala Harris became the Democratic presidential nominee. Harris’ work as San Francisco district attorney and California attorney general might help woo suburban voters but, at a minimum, raises questions here.

Persons: Wisconsin CNN — Devonta Johnson, Kamala Harris, ” Johnson, “, ”, Johnson, Harris, Joe Biden, –, Angela Lang, Lang, ” Lang, Biden, Trump, Kamala, rollin ’, that’s, canvassers, ’, Brian McMutuary, Jacqueline Kalil, CNN Brian McMutuary, ” McMutuary, Russia’s Vladimir Putin, Xi Jinping, “ Nope, ” Eric Jones, ” Jones, Martin Luther King Jr, Eric Jones, ‘, ’ ’ ’ Jones Organizations: Wisconsin CNN, Trump, Black, Democratic, BLOC, Communities, CNN, “, Young, San, Democratic Party Locations: Milwaukee, Wisconsin, Milwaukee’s Black, Menomonee Falls, . Milwaukee, San Francisco, California, “

☆ Another key US inflation gauge fell in September
▼ + stars: | 2024-10-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Inflation for US producers slowed further in September, adding to hopes that prices aren’t getting jacked up before they get to consumers. The annual rate is running faster than the 1.6% gain economists expected, according to FactSet estimates; however, August’s rate was revised higher from the initial 1.7% estimate, so prices still fell in September. PPI is important because it’s often seen as a bellwether for the price increases consumers will wind up paying down the line. On Thursday, the Consumer Price Index — a measurement of average price changes for commonly purchased goods and services — cooled to 2.4%, its lowest rate since February 2021. As a result, Fed officials have now shifted from trying to contain inflation to trying to keep the job market healthy, the other half of their so-called dual mandate.

Persons: Price, that’s Organizations: CNN, of Labor Statistics, PPI, Federal Reserve

☆ Chappell Roan on the surprising Grammy award she really wants to win
▼ + stars: | 2024-10-11 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +5 min

CNN —Most musicians dream of winning a Grammy, but there’s only one award Chappell Roan is aiming for. So what better way to cap off her mega year than by winning her first Grammy Award? Creative director Ramisha Sattar and recording artist Chappell Roan. Universal Music Group“Please, please, please put some type of energy, a spell, whatever, that we get nominated for the Grammy,” Roan said in the video. “She is just as much Chappell Roan as I am, honestly,” Roan told CNN.

Persons: Chappell Roan, ”, Taylor Swift, Roan, “, “ I’ve, I’ve, Ramisha Sattar, ” Roan, “ It’s, Kamala Harris, Sattar, Gen Z Lisa Frank, ” Sattar, Chappell Organizations: CNN, Austin, MTV, Recording, Universal, ” Universal Locations: Roan, Instagram

☆ Hogner: This was very disappointing for investors.
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHogner: This was very disappointing for investors. Eirik Hogner, Partner and Deputy Portfolio Manager at Clean Energy Transition, expresses disappointment in the investor reaction to Elon Musk's Cybercab reveal, highlighting unmet expectations for autonomous technology and the vehicle's pricing.

Persons: Eirik Hogner, Elon Musk's

☆ Residents in rural Texas are suing their noisy neighbor: a humming bitcoin mining facility
▼ + stars: | 2024-10-11 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Residents near Granbury, Texas, want an 'intolerably loud' crypto mine to stop. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementResidents of Hood County in northern Texas have filed a lawsuit against a local bitcoin mining facility, alleging its "intolerably loud" noises and physical vibrations have caused mental and physical health problems. AdvertisementOne impacted resident, Cheryl Shadden, has difficulty sleeping and has experienced hearing loss, vertigo, and tinnitus, according to the suit. AdvertisementResident Liana Oechsle told NBC 5 that the facility has a right to exist but wants it to be more responsible.

Persons: —, Cheryl Shadden, it's, Hood, Daniel Lakey, Liana Oechsle Organizations: Service, Marathon Digital Holdings, Marathon, Fox, NBC, Business Locations: Granbury , Texas, Hood County, Texas, America, China, North Carolina, Ohio, Arkansas

☆ 2 simple diet tips helped a 41-year-old office worker transform his body in the gym
▼ + stars: | 2024-10-11 | by ( ) www.businessinsider.com time to read: +5 min

A UK man transformed his physique by following a calorie deficit and protein goal. To get enough daily protein, he started eating more fish and eggs and snacking on chickpeas. AdvertisementA 41-year-old man said learning two simple diet tips helped him build a more muscular, lean physique in less than a year. A protein goal helps fuel muscle growth and stave off cravingsKnebeg's other major daily goal is to eat around 142 grams of protein. AdvertisementKnebeg rounds out his diet with protein supplements for convenience when he needs a quick, lower-calorie boost to meet his goal.

Persons: —, Alec Knebeg, he's, Adam Enaz, Knebeg, I'd, Enaz Organizations: Service, International Society of Sports Nutrition Locations: London

Former President Donald Trump said in an economic address Thursday that the U.S. has allowed "big companies" to "come in and raid and rape our country." I used the word 'rape,'" Trump said at the Detroit Economic Club after his remarks were met with what sounded like some gasps from the audience. "So here’s the deal that I will be offering to the world, to companies outside of our world, big companies, powerful companies, that have become powerful because we were stupid, we were stupid. Trump added that his administration would impose a “tax or tariff” on companies that do not manufacture their goods in the U.S. Trump used similarly loaded language during his 2016 presidential campaign when he singled out China.

Persons: Donald Trump, Trump, Kamala Harris, ” “, Karoline Leavitt, rallygoers, ”, E, Jean Carroll, Carroll, defaming Carroll Organizations: Detroit Economic Club, Trump Locations: United States, America, U.S, China, Indonesia, Turkey, Canada, Indiana, New York City, New York

Hurricane Milton dumped so much rain over parts of Florida’s Tampa Bay area that it qualified as a 1-in-1,000-year rainfall event. Other significant rainfall totals across Florida included 14.01 inches in Clearwater Beach, 13.09 inches in Baskin, 11.43 inches in Tampa and 10.12 inches in Seminole. The National Weather Service issued a flash flood emergency for Tampa and St. Petersburg that lasted until 2:30 a.m. Preliminary measures on Wednesday indicated that 7 inches had fallen in St. Augustine, 7.38 inches in Titusville and 3.05 inches in Daytona Beach, according to the National Hurricane Center. Hurricane Milton has moved back out to sea, but additional rainfall and flooding are expected to persist through Thursday in parts of eastern and central Florida, according to the National Hurricane Center.

Persons: Milton, ” Matthew Cappucci, ” Milton, Hurricanes Milton, Helene, Augustine, National Hurricane Center . Hurricane Milton Organizations: National Weather Service, Hurricanes, National Hurricane Center, National Hurricane Center . Hurricane Locations: Florida’s Tampa Bay, St, Petersburg, Siesta, Florida, Clearwater Beach, Baskin, Tampa, Seminole, Milton, Gulf of Mexico, Titusville, Daytona Beach

The windows burst during the storm, flooding the home with 2 to 3 feet of water, De Leon recalled. After Maria hit, when they left the house to assess the damage, they saw that some of their neighbors hadn't survived the hurricane. Milton made landfall as a Category 3 storm at 8:30 p.m. Wednesday near Siesta Key, Florida, a barrier island next to Sarasota. Figueroa was one of more than 100,000 Puerto Ricans who left Puerto Rico during Maria's aftermath. "Hurricane Maria changed our lives and I think that we will never underestimate any hurricane or natural disaster," Aponte Feliciano said in Spanish.

Persons: Hurricane Maria, Cecilia Rosa De Leon, Maria, De Leon, hadn't, Milton, ”, Shailier Figueroa, pantries, Figueroa, Jesús Eduardo Aponte Feliciano, Aponte Feliciano Organizations: Hurricane, Harvard University, Sarasota ., Puerto Ricans Locations: Puerto, Florida, Milton, Orlando, Apopka, seeping, Puerto Rico, Canóvanas, that's, U.S, United States, Siesta Key, Sarasota, Kissimmee, Philadelphia, Georgia

Sean "Diddy" Combs is expected to appear Thursday afternoon before the federal judge in New York assigned to oversee his trial, which the embattled hip-hop mogul’s lawyers would like to begin next spring. Deadlines may be set for various issues related to the trial of Combs, 54, who pleaded not guilty last month to charges of sex trafficking, racketeering and transportation to engage in prostitution. A lawyer said Combs “vehemently denies” claims related to that case. Another lawyer for Combs, Marc Agnifilo, has similarly denied the criminal allegations against him. However, they told Judge Arun Subramanian there is “voluminous” evidence in the case, including “several terabytes of electronic material,” which they’ve begun to turn over to the defense.

Persons: Sean, Diddy, Combs, ” Erica Wolff, “, Casandra ‘ Cassie ’ Ventura, Combs “, ”, Marc Agnifilo, “ He’s, ” Agnifilo, Arun Subramanian, they’ve Organizations: Bad Boy Records, ”, ” Prosecutors Locations: New York, Brooklyn, New York City

At least five deaths have been confirmed in St. Lucie County on the state’s Atlantic coast, where tornadoes touched down. The city’s mayor told reporters that no serious injuries or deaths have been reported there in the wake of the storm. Ron DeSantis told reporters at a briefing Thursday morning. Search and rescue teams worked overnight to save families and pets, DeSantis told reporters. Milton made landfall just 13 days after Helene devastated the Southeast, breaking the record for the shortest amount of time between two major hurricanes in Florida.

Persons: Milton, Ron DeSantis, ” DeSantis, Hurricane Helene, ”, DeSantis, Nadia Zomorodian, Joe Biden, ” Biden, “, Helene Organizations: Gov, Residents, USA, Coast Guard, National Weather Service, Sunshine State Locations: Florida, Siesta, Tampa, St, Lucie County, St . Petersburg, Volusia County, Venice Beach, Sarasota County, Petersburg, South Daytona, Fla, Milton, Cape Canaveral, U.S, Georgia , North Carolina, South Carolina , Tennessee, Virginia

Trump and the Republican Party have made “an unprecedented lean in and targeting of African American men,” Belcher said. Yes, it’s absolutely smart on their side.”But, he said, recent polling shows a shift among Black voters in the last month and a half toward Harris' campaign. “We want to make sure that Black men are showing up to vote in numbers that we haven’t seen since Obama. So victory and success for us will be record numbers of Black men showing up to vote in November.”He said there has been an Obama-like energy with Harris. Has anyone ever heard of Barack Hussein Obama?” Trump said as the Scranton crowd lit up with boos.

Persons: Barack Obama, Kamala Harris, Obama, Harris, Donald Trump, “, ”, Jesse Lee, —, ” Lee, Republicans — Obama, Mitt Romney, ’, Paulette Aniskoff, ” Aniskoff, ” Eric Schultz, ” Schultz, ” Harris ’, Harris ’, Obama pollster Cornell Belcher, Joe Biden, “ She’s, Belcher, Trump, ” Belcher, Quentin James, ” James, MAGA, ” Trump, decry, Barack Hussein Obama, Democratic pollster Anna Greenberg, ” Greenberg, Hillary Clinton Organizations: Indian, Black, Biden White, Republicans, NBC News, Obama White House, Trump, Democrats, Republican Party, Collective PAC, GOP, Democratic Locations: SCRANTON, Pa, Pittsburgh, Pennsylvania, Philadelphia, Scranton, America

Rafael Nadal, one of the greatest tennis players of all time, announced his retirement Thursday at age 38, bringing to a close the most dominant clay-court career in the history of the sport. Nadal’s 22 Grand Slams put him second on the all-time men’s list behind Novak Djokovic. “I don’t think I’ve been able to play without limitations.”Born on the Spanish vacation island of Mallorca, Nadal won two grand slams each at Wimbledon and the Australian Open. The London crowd was treated to five sets over almost five hours, finishing at 9 p.m. in near darkness to become the longest Wimbledon final on record at the time. Nadal took the first two sets, was then pegged back 2-2, before winning the final, epic set 9-7.

Persons: Rafael Nadal, Novak Djokovic, Roger Federer, November’s, “, ”, I’ve, Nadal, Roland Garros, Serbia's Djokovic, —, Federer, John McEnroe, Jimmy Connors, Djokovic, Maria Perello, Rafael Nadal Jr Organizations: Wimbledon, Australian, Games, U.S ., Laver Locations: Mallorca, London

☆ Why it’s OK to crave the taste of home when you travel
▼ + stars: | 2024-10-10 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +12 min

Enter, the American Bar. But, like the patrons of the American Bar before us, seeking out home comforts when abroad is still something we all do. The study was based on interviews with 330 people in the US, all questioned on how likely they’d be to try local foods when traveling. We learn to associate food with comfort – hence the term ‘comfort food,’” Brewer says. The American Bar at the Savoy has been a London hotspot since the late 1800s.

Persons: Richard D’Oyly Carte, Ernest Hemingway, Marilyn Monroe, “, ”, Andrea Di Chiara, couldn’t, Coke, Maggie Wong, Angel Gonzalez, ” Gonzalez, Judson Brewer, Brewer, Richard A, Brooks, ’ ” Brewer, Bridget Jones, Jungfraujoch, Kathrin Naegeli, Gonzalez, JACK HARDY, tellingly, Gerald Quadros, there’s, ” Brewer, we’re, ‘ I’d, ’ Organizations: CNN, American Bar, American, Future Market, Yorkshire teabags, California State University, Monterey Bay, Brown University, Getty, Jungfrau Railways, Noodle, Savoy, Langham Hotel, Random Locations: United States, Savoy, London, Hong Kong, Paris, Monterey, AFP, Europe, Swiss, Zurich, Denbighshire, Italy

☆ Stock market today: Indexes decline after inflation comes in hotter than expected
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes dipped Thursday as investors took in hotter-than-expected inflation data. Traders see the latest data solidifying odds of a 25 basis point rate cut next month. AdvertisementUS stocks edged lower on Thursday as investors took in slightly hotter-than-expected inflation data after last week's blockbuster jobs report. The core CPI reading, which excludes food and energy costs, came in at 3.3% year-over-year, slightly above forecasts of 3.2% and 0.3% higher than the August reading. JPMorgan's top strategist, one of Wall Street's biggest bears, is turning upbeat on the stock market for the first time in two years.

Persons: —, Milton, Bill Gross Organizations: Traders, Service, CPI, Federal Reserve, JPMorgan, Labor Department, FEMA, Hurricanes Locations: Here's

☆ Inflation rate at 2.4% in September, topping expectations; jobless claims highest since August 2023
▼ + stars: | 2024-10-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Both readings were 0.1 percentage point above the Dow Jones consensus. The annual inflation rate was 0.1 percentage point lower than August. Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast. After a half percentage point reduction in September, the central bank is expected to continue cutting, though the pace and degree remain in question.

Persons: Justin Sullivan, Dow Jones Organizations: Labor Department, Dow, of Labor Statistics, Federal Reserve Locations: Greenbrae , California, U.S

☆ Girard: The Fed focuses on core CPI, excluding food and energy prices
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGirard: The Fed focuses on core CPI, excluding food and energy pricesMichelle Girard, Head of NatWest Markets, highlights the importance of core CPI for the Federal Reserve in assessing inflation trends.

Persons: Michelle Girard , Organizations: Girard, Michelle Girard , Head, NatWest Markets, Federal Reserve

☆ CNBC Daily Open: Don't ignore the risks as a dovish Fed drives markets
▼ + stars: | 2024-10-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Valerie Plesch | Picture Alliance | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Sentiment in markets, it seems, was buoyed by encouraging comments from the Fed. The Fed, in other words, is keeping a close eye on the economy and wants to make sure it maintains its smooth landing. It's as if Stephen Sondheim's musical "Into the woods to get the money," markets are merrily singing.

Persons: Valerie Plesch, Gregory Daco, Goldman Sachs, Stephen Suttmeier, Philip Jefferson reemphasized, we're, Mike Bailey, Stephen Sondheim's, Jeff Cox, Samantha Subin, Sarah Min Organizations: Federal Reserve, Getty, CNBC, Brent, Bank of America, Dow Jones Industrial, Nasdaq, Apple, Micro Computer, Fed, FBB Capital Partners Locations: USA, Washington, Florida, U.S, Israel

☆ Here are Thursday's biggest analyst calls: Nvidia, Microsoft, Netflix, CVS, Honeywell, Nike, AIG, Sunnova & more
▼ + stars: | 2024-10-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +14 min

Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City

☆ Oil oversupply could send prices tumbling in 2025, energy analyst says
▼ + stars: | 2024-10-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Oil could see a decline to a "much, much" lower price, according to crude analyst Tom Kloza. Oversupply will weigh on oil prices in 2025, Kloza predicted. AdvertisementThe oil market is headed into a troubled year in 2025, and crude prices may fall "much, much" lower, according to Tom Kloza, global head of energy analysis at Oil Price Information Service. The oil analyst said crude prices would experience more downward pressure in 2025 despite concerns that conflict in the Middle East could escalate and send prices higher. "It was pointing lower, and I think it's still pointing lower.

Persons: Tom Kloza, Kloza, —, Goldman Sachs, Brent Organizations: Service, Oil Price Information Service, Traders, CNBC, Energy Information Administration, Giants, Jets Locations: Saudi Arabia, Iraq

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