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☆ Putin tells Russians there's no reason to panic as the ruble sinks, but analysts say its economy is in trouble
▼ + stars: | 2024-11-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The Russian currency hit its lowest level against the dollar since March 2022 this week. The Russian currency traded at 114 to the dollar on Wednesday, its weakest level since March 2022, shortly after the Ukraine invasion began. AdvertisementA Wednesday headline in the state newspaper Rossiyskaya Gazeta read, "Panic attack for Russia's currency market." Other countries, such as India, have snapped up Russian oil instead, tempering the impact of price caps and other penalties. The collapse of Russia's Ruble (black) is a reminder how badly the EU failed on Russia.

Persons: Vladimir Putin, Putin, Gazeta, Russia Robin Brooks, XbOwqiABRd — Robin Brooks, George Pavel, Brent, Kathleen Brooks, Brooks, Trump Organizations: Analysts, RIA Novosti, Kommersant, Brookings Institution, EU, Russia Locations: Russia, Russian, Ukraine, Russia's, India

☆ Biden cautions Trump over imposing tariffs on Mexico and Canada: 'I hope he rethinks it'
▼ + stars: | 2024-11-28 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

AdvertisementPresident Joe Biden said that he hopes Donald Trump "rethinks" imposing tariffs on Mexico and Canada. President Joe Biden on Thursday expressed hope that President-elect Donald Trump would back down on his plan to impose tariffs on two of the US' closest allies. "I hope he rethinks it, I think it is a counterproductive thing to do," Biden told reporters on Thanksgiving. He said the tariffs would be among his first actions upon taking office, reopening the door to a national security law that lets the president impose tariffs with few limitations. Trump spoke with Mexican President Claudia Sheinbaum not long after he made the new tariff threat.

Persons: Joe Biden, Donald Trump, Trump, Biden, Kamala Harris teed, Claudia Sheinbaum, Claudia Sheinbaum Pardo, Sheinbaum Organizations: North American Free Trade, Trump, Associated Press Locations: Mexico, Canada, United States

☆ Oil prices steady amid focus on Israel-Hezbollah ceasefire, OPEC+ policy
▼ + stars: | 2024-11-27 | by ( ) www.cnbc.com time to read: +2 min

Oil prices steadied in early trade on Wednesday, with markets assessing the potential impact of a ceasefire deal between Israel and Hezbollah, and ahead of Sunday's OPEC+ meeting. Both benchmarks settled lower on Tuesday after Israel agreed to a ceasefire deal with Lebanon's Hezbollah. Israeli Prime Minister Benjamin Netanyahu said he was ready to implement a ceasefire deal with Lebanon and would "respond forcefully to any violation" by Hezbollah. Crude oil would not be exempt from the trade penalties, two sources familiar with the plan told Reuters on Tuesday. Meanwhile, U.S. crude oil stocks fell while fuel inventories rose last week, market sources said, citing API figures on Tuesday.

Persons: Israel, Joe Biden, Benjamin Netanyahu, Hiroyuki Kikukawa, Donald Trump Organizations: Hezbollah, Brent, U.S, West Texas, Lebanon's Hezbollah, NS, Nissan Securities, Organization of, Petroleum, Reuters Locations: Israel, United States, France, U.S, Lebanese, Gaza, Lebanon, China, OPEC, Russia, Mexico, Canada

☆ Jack Smith is giving up on his cases against Trump for now
▼ + stars: | 2024-11-25 | by ( Brent D. Griffiths | Laura Italiano | ) www.businessinsider.com time to read: +2 min

AdvertisementJack Smith wants to end his major criminal case against Donald Trump. In back-to-back filings on Monday, special counsel Jack Smith sought permission from federal judges to abandon both of his cases against President-elect Donald Trump. "The Department's position is that the Constitution requires that this case be dismissed before the defendant is inaugurated," Smith wrote in relation to the election-interference case. "The American People re-elected President Trump with an overwhelming mandate to Make America Great Again," Steven Cheung wrote in a press statement. "Today's decision by the DOJ ends the unconstitutional federal cases against President Trump, and is a major victory for the rule of law.

Persons: Jack Smith, Donald Trump, Trump, Smith, Steven Cheung Organizations: Department, Trump, American People, DOJ Locations: Florida

☆ Oil prices ease but remain near 2-week highs on Russia, Iran tensions
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +3 min

Oil prices retreated on Monday following 6% gains last week, but remained near two-week highs as geopolitical tensions grew between Western powers and major oil producers Russia and Iran, raising risks of supply disruption. "Oil prices are starting the new week with some slight cool-off as market participants await more cues from geopolitical developments and the Fed's policy outlook to set the tone," said Yeap Jun Rong, market strategist at IG. "Tensions between Ukraine and Russia have edged up a notch lately, leading to some pricing for the risks of a wider escalation potentially impacting oil supplies." Enforced sanctions could sideline about 1 million barrels per day of Iran's oil exports, about 1% of global oil supply, he said. Investors were also focused on rising crude oil demand at China and India, the world's top and third-largest importers, respectively.

Persons: Jun Rong, Trump, Brent, Yeap, centrifuges, Vivek Dhar, Priyanka Sachdeva, Phillip Nova, Sachdeva Organizations: Brent, U.S, West Texas, Russia, IG, IAEA, Commonwealth Bank of Australia Locations: Russia, Iran, Ukraine, United States, Kyiv, Iranian, China, India, U.S

AdvertisementPresident-elect Donald Trump has started making picks for key cabinet positions and other White House jobs. He started by naming Susie Wiles his chief of staff, making her the first woman to hold the role. Here's a running list of those Trump has tapped for his administration. Now that President-elect Donald Trump has secured another four years in the White House, he's beginning to staff his administration. AdvertisementHere's a running list of Trump's staff picks, who will determine everything from his daily schedule to the ins and outs of finance, defense, and education.

Persons: Donald Trump, Susie Wiles, Here's, Trump, Trump's, Matt Gaetz Organizations: White Locations: Florida

☆ 3 of Trump's top cabinet-level picks recently worked as lobbyists, with clients ranging from Amazon to Qatar
▼ + stars: | 2024-11-22 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Susan Wiles, Trump's incoming chief of staff, maintained ties to a lobbying firm until this month. Sean Duffy, Trump's pick for Transportation secretary, has lobbied for a group of major airlines. The EPA, under Obama, Trump, and Biden's administrations, have repeatedly opposed efforts to mine in the bay, home to one of the world's largest salmon fisheries. Starting not long after he left Congress in 2019, Duffy lobbied for Polaris, a US auto manufacturer known its off-road and recreational vehicles. ProPublica previously reported that Duffy lobbied White House trade adviser Peter Navarro as Polaris sought to win exemptions to tariffs on the parts it was importing.

Persons: Donald Trump's, Susan Wiles, Sean Duffy, Trump's, Donald Trump, Susie Wiles, Pam Bondi, Wiles, Duffy, Uber —, Bondi, Ballard, Trump, Jeff Hauser, Brian Ballard, Alaska . Sen, Lisa Murkowski, Obama, Peter Navarro, Ron Klain, Biden's, Fannie Mae, Steve Ricchetti, Biden, Jeff Ricchetti, Barack Obama, Hauser, Hauser isn't, " Hauser Organizations: Washington, Incoming White House, Amazon, GM, MetLife, Fidelity National Financial, Ballard Partners, Trump, Republican, The New York Times, Alaska ., Alaska Republican, Partnership, EPA, Federal Aviation Administration, United, Polaris, White, General Motors, Uber, Fidelity, North, Major League Baseball, Biden, Raytheon, Politico Locations: Florida, Riyadh, Saudi Arabia, Trump, Alaska, North America, Bondi, Washington

☆ Oil rises as intensifying Ukraine war increases supply risk
▼ + stars: | 2024-11-22 | by ( ) www.cnbc.com time to read: +2 min

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on March 8, 2022. Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies. Russia is among the world's top crude oil producing countries, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+. Russia this month said it produced about 9 million barrels of oil a day. Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.

Persons: Phillips, Vladimir Putin, Putin, Joe Biden, Jim Ritterbusch, meanwhile, Donald Trump's Organizations: Brent, . West Texas, British Storm Shadow, Ritterbusch, Associates Locations: Linden , New Jersey, United States, Russia, Ukraine, U.S, Britain, British, Ukrainian, Moscow, Florida, China

☆ Dell pays $2.3 million to settle claims that it overcharged the US Army for computers
▼ + stars: | 2024-11-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

AdvertisementDell has agreed to pay $2.3 million to settle claims that it violated the False Claims Act. Dell and reseller Iron Bow overcharged the US Army for computers over four years, the DOJ said. Dell has agreed to pay $2.3 million to resolve allegations it violated the False Claims Act in its business with the US Army. Iron Bow has agreed to pay just over $2 million to settle the claims, bringing the combined settlement to $4.3 million. Iron Bow did not respond to a request for comment from Business Insider, made outside normal working hours.

Persons: Dell, Bow, Brent Lillard, Brandon Bell, Brian M, Boynton, Prim, Escalona, Donald Trump, Elon Musk, Vivek Ramaswamy, Ramaswamy Organizations: Dell, US Army, DOJ, The, Justice, Army, Army Desktop, Mobile Computing, Government, Justice Department's Civil, Northern, Northern District of, Elon, " Department of Government, Business Locations: Texas, Bow, United States, Northern District, Northern District of Alabama

☆ Oil prices firm as geopolitical tensions raise supply concerns
▼ + stars: | 2024-11-21 | by ( ) www.cnbc.com time to read: +2 min

A pump jack at an oil lot connected to the Petroleos del Peru SA Talara refinery in Piura, Peru, on Wednesday, Dec. 13, 2023. Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw. Adding to supply, Norway's Equinor said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage. However, a slowdown in Chinese and global demand, coupled with rising output outside the group, have potentially thwarted this plan.

Persons: Norway's Equinor, Johan Sverdrup Organizations: del, del Peru SA Talara, Brent, . West Texas, Storm, ATACMS, Energy Information Administration, Organization of, Petroleum Locations: del Peru, Piura, Peru, Russia, Ukraine, Moscow, Kyiv, OPEC

☆ Q3 is one of Snowflake's 'best quarters we've seen in a long time', says Jefferies Brent Thill
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQ3 is one of Snowflake's 'best quarters we've seen in a long time', says Jefferies Brent ThillBrent Thill, Jefferies Analyst, joins 'Closing Bell Overtime' to talk Snowflake earnings as shares spike over 13% in extended trading.

Persons: Snowflake's, we've, Jefferies Brent Thill Brent Thill Organizations: Jefferies

☆ I'm an Australian living in the US. I love New Orleans, but there have been a few culture shocks along the way.
▼ + stars: | 2024-11-20 | by ( Ree Winter | ) www.businessinsider.com time to read: +6 min

AdvertisementI'm Australian but spend part of the year in New Orleans, and there's been some culture shock. Long before my first visit to New Orleans, I fell in love with the US city's historic culture. I'm still getting used to American coffeeI don't see much drip coffee in Australia, but it's everywhere in the US. I'm used to a certain standard and flavor. Bubbers BB/ShutterstockCompared to what I'm used to in Australia, everything is supersized in the US.

Persons: there's, I'd, I've, I'm, Shutterstock, DiAnna Paulk, it's, Brent Hofacker, Bubbers, wasn't Organizations: US, Taco Bell, New Orleans In New Orleans — Locations: New Orleans, Australia, Shutterstock, Orleans, States, New Orleans In New Orleans

The New York Stock Exchange welcomes Snowflake to usher in the first day of winter on Dec. 21, 2021. Snowflake shares on Wednesday spiked 19% in extended trading after the data analytics software maker reported fiscal third-quarter earnings that beat estimates. Product revenue, at $900.3 million, represented around 96% of total revenue. Snowflake called for $3.43 billion in fiscal 2025 product revenue, implying 29% growth. Snowflake had 10,618 customers at the end of October, having added 369 in the fiscal third quarter.

Persons: Snowflake, StreetAccount, Snowflake's, we've, Jefferies Brent Thill Organizations: New York Stock Exchange, Anthropic

☆ Trump's picks are giving Big Tech plenty of reasons to be nervous
▼ + stars: | 2024-11-19 | by ( Grace Eliza Goodwin | Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

AdvertisementDonald Trump has selected several Big Tech critics for top roles in his second administration. A number of his picks have been harsh critics of the Big Tech industry. Tom Williams/CQ Roll CallTrump's pick for attorney general, former Florida Rep. Matt Gaetz, has for years criticized Big Tech companies. Anna MoneymakerVice President-elect JD Vance cut his teeth in venture capital, and has long been a proponent for breaking up Big Tech. AdvertisementVance said that his experience in Silicon Valley taught him to be weary of Big Tech.

Persons: Donald Trump, Matt Gaetz, JD Vance, Elon Musk, Brendan Carr, Trump's, Trump, Brendan Carr Trump, Tom Williams, Carr, Elon, Musk's, Matt Gaetz Trump, Gaetz, Lina Khan, Jonathan Kanter, Elon Musk Elon, Marc Piasecki, Musk, donald, Biden, Tim Cook, X, Anna Moneymaker, Vance, we're Organizations: Big Tech, Trump, GOP, Google, Apple, Microsoft, Federal Communications Commission, Inc, Getty, Heritage, FCC, TikTok, United, Florida Rep, Federal Trade, Elon, Government, of Government, SpaceX, OpenAI, Bloomberg News Locations: Starlink, Florida, Silicon Valley, Trump

Russian President Vladimir Putin speaks during a plenary session of the Valdai Club on Nov. 7, 2024 in Moscow, Russia. Contributor | Getty Images News | Getty ImagesGlobal stocks fell and investors fled to safe-haven assets on Tuesday, as global markets reacted to escalating tensions between the world's two largest nuclear powers: Russia and the U.S. The pan-European Stoxx 600 stock index was down almost 1% at 12:23 p.m. London time, hitting 498.56 points — its lowest level since August. The declines come after Russian President Vladimir Putin amended Russia's nuclear doctrine that outlines the conditions that would prompt Moscow to deploy its nuclear arsenal, Russian state news agency Tass reported Tuesday. In currency markets, the Japanese yen rose 0.7% and 0.36% against the euro and U.S. dollar respectively at 12:26 a.m. London time.

Persons: Vladimir Putin, Dmitry Peskov, USDJPY, Wells, Erik Nelson, Putin, Tiffany McGhee, CNBC's, Ice Brent Organizations: Valdai, Getty, U.S, Dow Jones, Nasdaq, Russian Federation, NBC News, Swiss, CNBC, U.S ., NATO, White, Kremlin, Russian Defense Ministry, Kyiv, NBC, Ukrainian, Staff of, Armed Forces, Ice Locations: Moscow, Russia, London, U.S, Republic of Belarus, Russian, Ukraine, Kyiv, Soviet, Bryansk, America

Labor leaders say Democrats need to rethink their approach to working-class voters. Former Fox News host Pete Hegseth’s attorney confirmed he paid a woman after she accused him of sexual assault. He also denied that the encounter between Hegseth and an unnamed woman, which she alleges happened in 2017, was sexual assault. 🏈 The Kansas City Chiefs’ undefeated season is no more as the Buffalo Bills beat their AFC rivals 30-21 at home. Bills quarterback Josh Allen threw for 262 yards with one touchdown and one interception as Buffalo improved to 9-2.

Persons: Pete Hegseth’s, Democratic Party ’ Donald Trump, Chip Somodevilla, Kamala Harris ’, ”, Brent Booker, ” Booker, Mike Johnson, Trump, Brendan Carr, Roy Rochlin, Donald Trump, “, Parlatore, Dick Schoof, Nora Achahbar, NFL Gregory Bull, Greg Rosenstein, hird, 🐆 Organizations: Labor, Former Fox News, Union, Democratic Party, ’ International Union of, ”, Trump, Federal Communications Commission, Justice Department, FBI, Trump Pentagon, Fox News, NBC News, Washington Post, Authorities, Hegseth, Getty Images, Dutch, NFL, Los Angeles Chargers, Cincinnati Bengals, Sunday, NBC Locations: Amsterdam, Netherlands, West Palm Beach, Fla, Biden’s, ’ International Union of North America, Afghanistan, Hegseth’s, Monterey , California, Anadolu, Getty Images Amsterdam, Moroccan

☆ After Democrats lost the working class, union leaders say it's time to 'reconstruct the Democratic Party'
▼ + stars: | 2024-11-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +8 min

But whether they are measured by income or educational attainment, President-elect Donald Trump won working-class voters overall while he made strong gains among nonwhite working-class voters like Hispanics and Asian Americans. As recently as 2012, non-college-educated voters were splitting their votes evenly or even slightly in favor of Democrats. But that has left the party’s leaders, donors, operatives and other decision-makers more removed from the lives of low- and middle-income workers, some labor leaders say. But there is widespread frustration that Trump outflanked Democrats to position himself as a champion of working people, as well as dissatisfaction with Democrats not limited to white or male union members. But that policy was not enough to overcome larger societal forces that have led many working-class voters to doubt Democrats’ commitment to their well-being.

Persons: Joe Biden, Kamala Harris ’, ”, Brent Booker, Booker, ” Booker, Donald Trump, Harris, Barack Obama, Trump, Republican recoiled, “, Jimmy Williams, Liz Schuler, Schuler, ” Sen, Bernie Sanders, Biden, Will Stancil Organizations: Democratic Party, NBC, ’ International Union of, ”, Keystone Pipeline, Trump, Republican, International Union of Painters, Allied, ” Trade, ’, AFL, Democrats, Press, Teamsters, Democratic, International Association of Fire Fighters, International Longshoremen’s Association, United Mine Workers of, National Labor Relations Board Locations: Biden’s, ’ International Union of North America, Trump, China, Pittsburgh, United Mine Workers of America

☆ Oil prices edge higher after Russia-Ukraine tensions escalate
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +2 min

Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to Ukraine's power system. Investors also fretted over the pace and extent of interest rate cuts by the U.S. Federal Reserve that has created uncertainty in global financial markets. In the U.S., the number of operating oil rigs fell by one to 478 last week, the lowest since the week to July 19, Baker Hughes data showed.

Persons: Joe Biden's, Biden, Tony Sycamore, Brent, WTI, Baker Hughes Organizations: Brent, U.S, West Texas, IG, International Energy Agency, U.S . Federal Reserve Locations: Cushing , Oklahoma, Russia, Ukraine, China, Kursk, U.S

☆ Before politics, JD Vance had a career in venture capital. Here are the startups he's invested in.
▼ + stars: | 2024-11-16 | by ( Madeline Berg | Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

JD Vance is a man of many careers: attorney, author, senator, vice president-elect, and, perhaps less well-known, venture capitalist. For about six years between graduating from law school and becoming a United States senator from Ohio, Vance held various positions in the space before eventually starting his own fund, Narya Capital. Vance co-founded Narya Capital in 2019After two years, Vance broke out on his own, cofounding Narya Capital in 2019 with investments from Thiel, former Google CEO Eric Schmidt, and VC veteran Marc Andreessen. According to his vice president and senate disclosure forms, he has a stake in Narya Capital Fund I, Narya Capital Fund II, and Rise of the Rest Seed Fund. AdvertisementHis stake in Narya Capital Fund I is worth between $500,001 and $1 million.

Persons: JD Vance, Vance, doesn't, Peter Thiel's, Steve Case's, Boston —, Thiel, Eric Schmidt, Marc Andreessen, Narya, Vivek Ramaswamy's, Nayra, Luke Schroeder Organizations: United, Narya, Mithril, Narya Capital, cofounding, II, Narya's Capital, US Space Force Locations: United States, Ohio, New York, Silicon Valley, Boston, Narya, ValueBase, PitchBook

☆ Why Trump and Elon Musk want key administration officials to be confirmed without a floor vote
▼ + stars: | 2024-11-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

AdvertisementDonald Trump wants the next GOP senate leader to give him greater power to staff vacancies. Trump wants to use the president's recess appointment power in a major way. Like Trump, Musk is a big believer in flexing the recess appointment power. Related storiesIn his push for recess appointment power, Trump argued it was about ensuring he could staff up in a timely manner. Officials installed via recess appointment can only serve until Congress' next session.

Persons: Donald Trump, Trump, Elon Musk, Matt Gaetz, Robert F, Kennedy Jr, It's, Casey Burgat, Sen, John Thune of, Mitch McConnell of, Thune, Bret Baier, JD Vance's, Ronald Reagan's, hasn't, Kennedy, Sarah Binder, George W, Bush, John Bolton, Don McGahn, McGahn, Ed Whelan, Whelan, Burgat Organizations: White, Trump, Human Services, GOP, Legislative, George Washington University's Graduate School of Political Management, Fox News, Republicans, Center, Biden, Brookings, United Nations, Public Policy Center Locations: Washington, Florida, John Thune of South Dakota, Mitch McConnell of Kentucky

☆ Oil dips on oversupply concerns, heads for weekly loss
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged down early on Friday as oversupply concerns and demand worries stemming from a stronger dollar outweighed a steep draw in U.S. fuel stocks. Distillate stockpiles, which include diesel and heating oil, also fell unexpectedly by 1.4 million barrels, the data showed. Signs of stronger demand supported oil prices, ANZ analyst Daniel Hynes said. The Paris-based agency raised its 2024 demand growth forecast by 60,000 barrels per day to 920,000 bpd, and left its 2025 oil demand growth forecast little changed at 990,000 bpd. Also pressuring oil prices, the dollar surged on Thursday to a one-year high and headed for a fifth-straight daily gain fueled by higher yields and Donald Trump's presidential election victory in the United States.

Persons: Brent, Daniel Hynes, group's, Donald Trump's Organizations: Brent, . West Texas, Energy Information Administration, EIA, ANZ, International Energy Agency, Organization of, Petroleum, greenback Locations: Russia, U.S, Paris, China, India, United States

☆ Crude oil heads to weekly loss as looming surplus depresses market
▼ + stars: | 2024-11-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market. U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%. Here are Friday's energy prices:The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft. A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump's election victory.

Persons: Brent, Donald Trump's Organizations: International Energy Agency, U.S, greenback Locations: OPEC, China

☆ U.S. crude oil edges higher but closes below $69 as large surplus expected next year
▼ + stars: | 2024-11-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Crude oil futures edged higher on Thursday, though the U.S. benchmark closed below $69 per barrel, as a large surplus is expected in 2025. Here are Thursday's closing energy prices:UBS slashed its price forecast for global benchmark Brent to $80 per barrel from $87 previously on weakening demand in China, the world's largest crude importer. OPEC on Tuesday cut its demand growth forecast for the fourth month in a row earlier this week. Oil prices have fallen more than 4% since Donald Trump won the U.S. presidential election as the dollar has surged. A stronger greenback can depress oil demand among buyers that hold other currencies.

Persons: Donald Trump Organizations: International Energy, UBS, Brent, U.S Locations: U.S, China

☆ Matt Gaetz's most controversial moments
▼ + stars: | 2024-11-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

He has also been the subject of multiple House Ethics Committee probes. Related Video House of Representatives tumbles into chaos as fight for new speaker eruptsHere are some of the most controversial moments of Gaetz's career so far:He invited a Holocaust denier to the State of the Union. AdvertisementDemocrats urged the House Ethics Committee to investigate the matter. Advertisement"I'll give you the truth why I'm not speaker," McCarthy said in April 2024. House Ethics Committee probes GatezThe House Ethics Committee opened its probe into Gaetz in 2021.

Persons: Donald Trump, Matt Gaetz, Washington, Gaetz, —, Donald Trump's, Charles C, Johnson, he's, Michael Cohen, Trump's, Nancy Pelosi's, Trump, Gatez, Joel Greenberg, Greenberg, Harry Potter, Gaetz's, Kevin McCarthy, Mike Rogers of, McCarthy, Rogers, I'm Organizations: Service, Justice Department, Committee, Department, FBI, Drug, Administration, Alcohol, Tobacco, Firearms, Explosives, Union, Daily, Fox Business, Oversight, Twitter, Florida Bar Association, Business, DOJ, Washington Post, Republicans, House Armed Services Committee, House Democrats, Republican National Convention, Times, Florida Republican Locations: Washington, Union ., Gaetz, Florida, Mike Rogers of Alabama, Gatez, loggerheads

☆ How Trump policies may boost and burden energy stocks and crude oil, all at the same time
▼ + stars: | 2024-11-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

While oil stocks tend to follow the direction of crude prices, the energy sector has gained 3.6% since election day, slightly outpacing the S & P 500. Conflicting signals The crude futures market and the oil and gas stocks appear to be taking different messages from Trump's victory. Since the election, natural gas stocks have been big winners on the prospect of more pipeline permitting. The oilfield services companies are also major beneficiaries under a Trump administration, West said. Oil surplus headwind More ominously, an oil and gas production boom under Trump would lower crude oil prices and likely act as a headwind for the industry.

Persons: Donald Trump's, Brent, Andrew Dittmar, Trump, Dittmar, Biden, James West, EQT, Kinder Morgan, West, Baker Hughes, Halliburton, Lee Zeldin, Zeldin, Russia —, Morgan Stanley, Wells, Roger Read, Darren Woods, I'm, Woods, CNBC's Organizations: West Texas Intermediate, Enverus Energy Intelligence, Republican, White, American Petroleum Institute, Oil, Gas, ETF, Interior Department . Offshore drillers, Noble Corporation, Evercore ISI, Pipeline, Williams Companies, Cheniere Energy, Industries, Trump, SLB, New, New York GOP, Environmental Protection Agency, Fox News, Biden, EPA, " Companies, Investors, Department of Energy, CNBC, Exxon Mobil, Exxon, Chevron, White House, Capitol, ISI Locations: China, Gulf of Mexico, Tidewater, Transocean, Gulf, Trump, New York, U.S, Saudi Arabia, Russia, Wells Fargo

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