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☆ Acore Capital's Warren De Haan say he's finding opportunities in multifamily real estate
▼ + stars: | 2023-06-15 | 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 EmailAcore Capital's Warren De Haan say he's finding opportunities in multifamily real estateWarren De Haan, Acore Capital co-CEO, joins 'The Exchange' to discuss lender strength and where to find opportunity in credit and commercial real estate.

Persons: Warren De Haan Organizations: Acore

☆ Oil prices sink below $70 on debt ceiling jitters, Russia-Saudi tensions
▼ + stars: | 2023-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US oil prices dropped below $70 a barrel Tuesday on concerns about whether the debt ceiling deal will make it through Congress and on reports of tensions between Saudi Arabia and Russia ahead of a key OPEC+ meeting. The selloff marks one of the worst days of the year for the oil market and could help keep a lid on pump prices. “It’s not a layup that the debt deal is going to get done. Treasury Secretary Janet Yellen has warned the government will not have enough funds to meet all of the nation’s obligations if Congress does not address the debt ceiling by June 5. Meanwhile, there are new questions about the relationship between OPEC leader Saudi Arabia and Russia ahead of this weekend’s meeting of oil producers in Vienna.

☆ Why does Wall Street expect a rate hike in June?
▼ + stars: | 2023-05-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Wall Street expects the Federal Reserve to raise interest rates in June. Not only that, it finally believes the central bank when it says it likely won’t cut rates this year. Futures traders expected a roughly 66% chance of a quarter point rate hike in June as of Friday afternoon, according to the CME FedWatch Tool. That’s a drastic about-face from even earlier this month, when Wall Street expected the central bank to slash rates multiple times this year starting as early as this summer. “If it comes in hotter than expected, it almost locks a rate hike in” for June, said Heppenstall.

☆ Americans to spend $1.6 billion less on gas this Memorial Day weekend
▼ + stars: | 2023-05-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Drivers across the country will be greeted by gas prices much cheaper than a year ago. That’s up from wintertime lows — but down by more than $1 from the year-ago average of $4.60, which was also the national average on the Friday before last Memorial Day. So, today’s gas prices are not cheap historically. The central factor is that oil prices, which are the main driver of retail gas prices, are down. For now, gas prices are much lower than a year ago, contributing to easing inflation across the economy.

☆ Gas is almost $1 cheaper than a year ago
▼ + stars: | 2023-05-15 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

But gas prices are miles away from last summer’s nightmare. At this point last year, gas prices were racing toward $5 a gallon, angering Americans, alarming central bankers and threatening the entire economy. Gas is not cheapTo be sure, gas prices are not nearly as cheap as back in 2020 when the national average crashed below $2 a gallon. Looking ahead, gas prices will probably remain far away from last summer’s peak. “If we return to economic prosperity, we’re going to return to the same gas price explosion as last year.”

☆ Banks aren't the only ones that hold risky commercial-real-estate debt. Pension funds are about to feel the pain, too.
▼ + stars: | 2023-04-24 | by ( Al Yoon | ) www.businessinsider.com time to read: +4 min

Pension funds, REITs, and insurers hold more than $1.2 trillion in commercial-real-estate debt. CalSTRS, a California pension fund, told the FT it will be writing down its real-estate portfolio. Among them are the large pension funds, REITs, and insurance companies, together accounting for more than $1.2 trillion — or 22% — of the $5.62 trillion in total commercial-real-estate debt outstanding, according to BofA Global Research. Some pension funds were already planning to reduce their exposures to commercial real estate even before the recent bank failures magnified the risks. In September, fund managers at Artemis Real Estate Partners and PGIM Real Estate said at a Bisnow conference that their investors indicated they'd be reducing allocations to real estate, just because the assets had been outperforming others.

☆ Panic buying causes widespread gas station closures in South Florida
▼ + stars: | 2023-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —More than half of gas stations in the Miami-Fort Lauderdale area were without gasoline Wednesday after flooding from last week’s massive storm caused a wave of panic buying by drivers topping off their gas tanks. “I would estimate that 80% of [station closings] are due to panic buying,” said Patrick De Haan, head of petroleum analysis for GasBuddy, which tracks station closings and gas prices. Data from GasBuddy showed that 59% of stations in the Miami-Fort Lauderdale market were closed Wednesday, up from about 20% on Sunday. But the even better news is that with full tanks, drivers will not need to fill up in the coming days as they normally might have, and the panic buying is likely to subside. He expected most of the closed stations to be reopened by the weekend.

☆ Landlords who bought thousands of apartments are facing a reckoning
▼ + stars: | 2023-04-11 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Investors showed outsize interest in apartment buildings during the pandemic. Rents and occupancy rates were rising, interest rates remained relatively low, and rental-property prices were climbing with no sign of letting up during a surge in housing demand. Laguna Point did not respond to a request for comment. Marc McDevitt, a senior managing director at Cred iQ, said it was possible Laguna Point had lost some, or even all, of its investment in the deal. While offices have been going through a paradigmatic shift as more workers do their jobs remotely, apartment buildings have experienced robust demand from tenants.

☆ Gas prices are on the rise again and drivers can expect more increases to come after steep oil production cuts by OPEC+
▼ + stars: | 2023-04-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US gas prices have hit a five-month high, fuel-tracker GasBuddy said Thursday. Gas prices are rising following a jump in oil prices after OPEC+ said it will slash production starting in May. The move was widely seen as preemptive action before a potential recession sets in and to put a floor on oil prices. Word of the production cuts by Saudi Arabia and other oil-producing countries sent oil prices soaring this week. National gas prices soared past $5 a gallon in 2022, with that first-ever move taking place after oil producer Russia invaded Ukraine.

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☆ Commercial real estate is struggling with rising rates and bank woes, but the cohead of a $21 billion lender said it's the best time in his more than 20 year career
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

High interest rates, office woes, and less bank funding are chilling commercial real estate. But a top commercial real estate lender said there's never been a better time for firms like his. It's a bleak time in commercial real estate, and it can be hard to find any rays of sunshine. One Bank of America analyst just warned commercial real estate presents a major risk regional banks that own a disproportionate 68% of the sector's loans. While interest rate uncertainty is clouding the commercial real estate outlook, some transactions could provide clarity to the market, de Haan said.

☆ This could be Big Oil's last surge
▼ + stars: | 2023-03-19 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +12 min

The era of Big Oil could end sooner than its massive profits suggest, analysts told Insider. But the worst-case scenario for the environment — that oil and gas companies reinvest all their extra money to keep growing — isn't happening, Logan said. The role of oil and gas companies in the energy transition is an ongoing debate, analysts told Insider. The UK company cited the need for an "orderly" energy transition. And while Big Oil's finances may begin to show some cracks over the next decade, he doesn't expect them to "suffer financially" for another 25 to 35 years.

☆ Premarket stocks: Here's why you should always wait for the earnings call
▼ + stars: | 2023-01-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

We’re currently in the thick of fourth quarter earnings reports, but traders don’t seem to care about how companies fared during the final months of 2022. These slowdowns have been partially factored into stock prices, he said, “but not necessarily in full.”The upside: Market reaction appears to go both ways. Gas prices are surging this month. Gas prices are rocketing higher. Why are gas prices jumping?

☆ NHL roundup: Martin Necas, Hurricanes tie Sharks late, win in OT
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +6 min

[1/8] Jan 27, 2023; Raleigh, North Carolina, USA; Carolina Hurricanes center Martin Necas (88) celebrates his overtime goal against the San Jose Sharks at PNC Arena. San Jose's Michael Eyssimont scored a go-ahead goal with 8:45 remaining in what was a wild third period. Eyssimont's second goal of the season combined with an assist earlier in the third period had the Sharks on the verge of snapping a three-game losing streak. Kings 4, Panthers 3Adrian Kempe and Viktor Arvidsson scored short-handed goals, leading Los Angeles to a win over Florida in Sunrise, Fla. Devils 3, Stars 2 (OT)Jack Hughes scored his second goal of the game 20 seconds into overtime to give New Jersey a road victory over Dallas.

☆ Gas prices have surged 40 cents in a month
▼ + stars: | 2023-01-27 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But something unusual is happening this year: Gas prices are rocketing higher. Although that’s a far cry from the record of $5.02 a gallon last June, gas prices have increased by 12 cents in the past week and 40 cents in the past month. AAA says some states have experienced much bigger gains over the past month, including Colorado (95 cents), Georgia (68 cents), Delaware (63 cents), Florida (60 cents) and Ohio (59 cents). That helps explain why gas prices in Colorado have surged by nearly $1 a gallon over the past month. Oil prices bounce off lowsBeyond the refinery problems, oil prices have crept higher, helping to drive prices at the pump northward.

☆ Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says
▼ + stars: | 2022-12-31 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Gas prices could surge toward $7 a gallon in some US states in 2023, according to GasBuddy. It could be expensive," said Patrick De Haan, head of petroleum analysis at the firm, which tracks fuel costs, in its 2023 fuel outlook. Cities in the West Coast state of California, such as San Francisco and Los Angeles, could see gas prices approach nearly $7 a gallon in the summer of 2023, according to GasBuddy. That means 2022 will close with a yearly national average for gasoline of $3.95 a gallon, the highest yearly average recorded, De Haan tweeted. As China has reopened, oil prices have rebounded," he said in a Friday interview on CNBC.

☆ The window for ultra-low gas prices may be closing, says GasBuddy's Patrick De Haan
▼ + stars: | 2022-12-30 | 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 EmailThe window for ultra-low gas prices may be closing, says GasBuddy's Patrick De HaanPatrick De Haan, head of petroleum analysis for GasBuddy, joins CNBC's 'Squawk Box' to break down the outlook for gas prices in 2023 as China moves to reopen its economy.

☆ Consumers will spend close to $50 billion less on fuel in 2023, says GasBuddy's De Haan
▼ + stars: | 2022-12-28 | 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 EmailConsumers will spend close to $50 billion less on fuel in 2023, says GasBuddy's De HaanPatrick De Haan, GasBuddy head of petroleum analysis, joins 'Power Lunch' to discuss the outlook for gas prices the first three months of 2023, if China's reopening will push gas prices higher and more.

☆ Good news for gas prices as we close out 2022: Gas Buddy's Patrick De Haan
▼ + stars: | 2022-12-27 | 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 EmailGood news for gas prices as we close out 2022: Gas Buddy's Patrick De HaanPatrick De Haan of Gas Buddy joins Brian Sullivan and the 'CNBC Special: Taking Stock 2023' to discuss where gas prices are headed next year.

☆ $4 gas could return as soon as May, GasBuddy projects
▼ + stars: | 2022-12-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —Gas prices will probably be significantly cheaper overall next year. Yet the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared exclusively with CNN. Why gas prices are droppingIn December 2021, before Russia amassed troops at Ukraine’s border, GasBuddy projected the national average for gas would be $3.41 a gallon in 2022. The national average is now about 20 cents below the same period of a year ago, according to AAA. Gas prices are not expected to return to $5 this summer – although GasBuddy isn’t ruling that out.

☆ Gas prices tumble to 15-month low
▼ + stars: | 2022-12-16 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

CNN —The plunge in gasoline prices hit another milestone on Friday, with the national average sinking to the lowest level since September 2021. Nineteen states currently have an average gas price of less than $3 a gallon, including Minnesota, Ohio and Colorado. In a sign that gas prices could continue to slide, US oil prices dropped another 3% to $73.58 a barrel Friday morning. He noted that by GasBuddy’s metrics, the median gas price tumbled to $2.99 as of Friday morning. The slide in gas prices has been driven by a variety of forces — not all of them positive.

☆ Gasoline is cheaper now than a year ago — and could fall below $3
▼ + stars: | 2022-12-08 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Gasoline prices are now cheaper across the U.S. than they were a year ago, and the price per gallon could fall below $3 for most Americans by the end of the year. Unleaded gasoline was at a record $5.01 per gallon June 14 and stayed high through the summer and fall. Gas prices fell 15 cents per gallon in the past week and are down from $3.80 a gallon a month ago. Even with OPEC+ reaffirming a 2 million barrel a day production cut this past week, oil prices have still fallen. But for now, gasoline prices are in decline.

☆ US gas prices are now cheaper than they were a year ago
▼ + stars: | 2022-12-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +2 min

London CNN Business —US gasoline prices are now cheaper than they were one year ago, providing relief to Americans that have spent 2022 grappling with the worst inflation in decades. Gas prices peaked just above $5 a gallon in June, hitting a record high. Average US prices have dropped by 14 cents over the past week and 47 cents over the past month. But so far, oil prices have continued their descent. Concerns about the economic impact of those restrictions have been a key reason oil prices have dropped in recent months.

☆ US gas is cheaper than before Russia invaded Ukraine
▼ + stars: | 2022-12-01 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

That is down about 12 cents in the past week and 29 cents in the past month. Gas prices were climbing in January and February as investors worried about disruptions from a Russian invasion of Ukraine. A range of factors have led to the drop in gas prices – and not all of them are positive. Although gas prices are still relatively high for this time of the year, they have also completely reversed the spike caused by the war in Ukraine. Looking ahead, some forecasters see gas prices continuing to dip, although there remains uncertainty over where oil prices go from here due to questions about OPEC policy and China’s Covid lockdowns.

☆ US gas prices have fallen to their lowest since February and could drop below $3 by Christmas, GasBuddy says
▼ + stars: | 2022-11-29 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

US gas prices fell to their lowest since February and could drop below $3 a gallon, GasBuddy said. Three states — Oklahoma, Texas and Mississippi — now have average prices of $2.99 a gallon, De Haan said in a tweet. Gas prices topped $5 a gallon in June, as global oil prices soared thanks Russia's war with Ukraine and an energy crisis in Europe. On Monday, crude oil prices have came under downward pressure as traders worried about a fall in demand from China, the world's second-biggest economy, as public protests erupted over the country's strict zero-Covid policies. Meanwhile, US demand for oil is under seasonal pressure, as cooler temperatures encourage Americans to stay at home, GasBuddy said.

☆ NHL roundup: Lightning topple Islanders again
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +8 min

The Lightning, who beat the host Florida Panthers 3-2 in overtime Friday, improved to 8-2 in their past 10 games against the Islanders. Devils 2, Sharks 1Yegor Sharangovich and Dawson Mercer scored second-period goals to lead New Jersey to a victory over visiting San Jose. The Blues controlled the first eight minutes of the game and scored the game's first goal on a power play. Avalanche 3, Golden Knights 2Nathan MacKinnon, Valeri Nichushkin and Evan Rodrigues scored goals, and visiting Colorado beat Vegas. He also became the first defenseman in NHL history to begin a season with a five-game goal streak.

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