Prices Archives - Zxcoachoutlet

Crude prices stay above $40

October 10, 2020

Crude prices moved higher this week, giving back some gains on Friday.

West Texas Intermediate on the New York Mercantile Exchange dropped 59 cents, or about 1 percent, Friday, to close at $40.60 per barrel. This compares to Monday, when prices jumped $2.17 to close at $39.22 per barrel. That was followed by a $1.45 gain Tuesday that put prices back above $40 a barrel. Prices fell to $39.95 Wednesday before closing at $41.19 Thursday. The posted price ended the week at $37 per barrel.

Natural gas prices on the NYMEX started the week off with an 18-cent jump and largely added to those gains, with the exception of a 9.5 cent drop Tuesday. Prices rose 11.4 cents Friday to close at $2.741 per Mcf.

Bloomberg reports prices were poised for a 10 percent gain for the week, the biggest since June, boosted largely by the approach of Hurricane Delta,

Trump steel tariffs raised prices, shriveled up demand, led to job losses, some Michigan workers say

October 9, 2020

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President Donald Trump promised a new dawn for the struggling U.S. steel industry in 2016, and the lure of new jobs in Midwestern states including Michigan helped him eke out a surprise election win.

Four years later, Great Lakes Works — once among the state’s largest steel plants — has shut down steelmaking operations and put 1,250 workers out of a job. A year before the June layoffs, plant owner United States Steel Corp called off a plan to invest $600 million in upgrades amid deteriorating market conditions.

Trump’s strategy centered on shielding U.S. steel mills from foreign competition with a 25 percent tariff imposed in March 2018. He also promised to boost steel demand through major investments in roads, bridges and other infrastructure.

But higher steel prices resulting from the tariffs dented demand from the Michigan-based U.S. auto industry and other steel consumers. And the Trump administration has never

Oil prices head for 11% weekly jump on North America, Norway outages

October 9, 2020

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By Shadia Nasralla

LONDON (Reuters) – Oil prices inched up on Friday, setting both benchmark contracts on track for their biggest weekly gains since early June, on the back of supply outages caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway.

Brent <LCOc1> was up 16 cents at $43.50 a barrel by 0748 GMT. U.S. West Texas Intermediate (WTI) crude <CLc1> rose 14 cents to $41.33.

Both contracts are on track for gains of around 11% this week, the first weekly rise in three weeks.

Brent’s six-month contango, a market structure where the front-month Brent futures are trading at a discount to later contracts implying current oversupply, has shrunk to around $1.90 a barrel from $3.24 less than a month ago.

Norwegian oil company and labour officials said they would meet with a state-appointed mediator on Friday in an attempt to bring

Oil Prices Pause in Week-Long Surge Norwegian Strike Drives Strong Gains | Investing News

October 9, 2020

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TOKYO (Reuters) – Oil prices eased a few cents early in trading on Friday in a breather at the end of a week of big gains propelled by a strike in Norway that raised the prospect of supply from the major producer being slashed by up to 25%.

Brent

was down by 9 cents at $43.25 a barrel by 0152 GMT, having gained more than 3% on Thursday. U.S. West Texas Intermediate (WTI) crude

dropped 5 cents at $41.14 after also falling more than 3% on Thursday.

Both contracts are on track for gains of around 10% this week – the first rise in three weeks – yanked higher by the prospect of tighter supply on production outages in the North Sea because of the action by Norwegian oil workers.

“This could see almost one million barrels a day of crude oil impacted,” ANZ Research said in a note.

Norwegian

It’s Not Supposed To Be Happening, But Coal Prices Are Rising

October 9, 2020

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Coal, the commodity that no-one wants to talk about, is staging a comeback as investment banks warm to the profits from improving prices and a new mine in Australia, being built to meet Indian demand, is nearing completion.

The $2 billion Carmichael mine has been the focus of decade-long protests by environmental campaigners, but India’s Adani Group has overcome all objections to be on the verge of extracting first coal from the 150-foot deep open-pit mine.

Aerial Views Of Newcastle Coal Industry And Glencore Plc Coal Operations — Price recovery boosts coal. Photographer: Brendon Thorne/Bloomberg

© 2015 Bloomberg Finance LP

Government approvals, which had been slow coming, have been completed with the final hurdle cleared with the signing last week of a royalty agreement with the State of Queensland in a move designed to make the mine less of a political issues at an upcoming election.

First shipments of coal from the Carmichael mine to India are expected next year, growing to

CANADA FX DEBT-Canadian dollar rallies on higher oil prices, U.S. stimulus hopes

October 8, 2020

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(Adds strategist quotes and details throughout, updates prices)

* Canadian dollar rises 0.4% against the greenback

* Loonie touches its strongest since Sept. 21 at 1.3198

* Canadian housing starts fall 20% in September

* Canadian bond yields ease across much of the curve

By Fergal Smith

TORONTO, Oct 8 (Reuters) – The Canadian dollar rose to a
more-than two-week high against the greenback on Thursday as
higher oil prices and the potential for U.S. stimulus offset
comments from Bank of Canada Governor Tiff Macklem, leaving
negative interest rates on the table.

U.S. stocks climbed as President Donald Trump fueled hopes
of fresh fiscal aid, while the price of oil, one of Canada’s
major exports settled 3.1% higher at $41.19 a barrel on support
from output shutdowns ahead of a storm in the U.S. Gulf of
Mexico.

“The market is coming to terms with an era of easy money
from

Oil prices rise as workers evacuate oil rigs in Gulf as Hurricane Delta approaches

October 8, 2020

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Fox News meteorologist Rick Reichmuth maps the storm’s trajectory on ‘Your World.’

MELBOURNE – Oil prices rose on Thursday as oil workers evacuated rigs in the U.S. Gulf of Mexico ahead of Hurricane Delta, though fuel demand concerns persisted on fading chances for an economic stimulus deal in the United States, the world’s biggest oil consumer.

U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 13 cents, or 0.3%, to $40.08 a barrel at 0215 GMT, after falling 1.8% on Wednesday.

Brent crude LCOc1 futures rose 20 cents, or 0.5%, to $42.19 a barrel, after falling 1.6% on Wednesday.

$215M IN BP OIL SPILL MONEY TO RESTORE LOUISIANA MARSHES

With Hurricane Delta forecast to intensify into a Category 3 storm with winds of up to 120 miles per hour (193 km per hour), oil producers have evacuated 183 offshore facilities and halted nearly 1.5 million barrels per day (bpd) of

Netflix will surge 28% to Street-high price target of $650 on increasing users and prices, Pivotal Research says

October 7, 2020

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Reed Hastings (L), co-founder and CEO of Netflix, and Ted Sarandos, Netflix chief content officer, pose for photographs during a news conference in Seoul, South Korea, June 30, 2016
Kim Hong-Ji/Reuters

Netflix received a Street-high price target of $650 on Wednesday from Pivotal Research Group, representing potential upside of 28% from Tuesday’s close.
Pivotal said Netflix is set to continue benefiting from a “virtuous cycle” of growing its subscriber base, increasing its spend on original content, and raising the price of its monthly subscription.
Netflix is “due for an increase” in price as early as January 2021, according to Pivotal.
Visit Business Insider’s homepage for more stories.

Netflix is engaged in a “virtuous cycle” of growing its business and extending its lead against other video streaming services, Pivotal Research Group said in a note on Wednesday.

This cycle is just one reason Pivotal increased its Netflix price target to

Nano-cap commercial REIT Presidio Property Trust prices IPO at $5

October 7, 2020

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Presidio Property Trust, a diversified REIT repositioning its portfolio to focus on office and industrial properties, raised $3 million by offering 0.5 million shares at $5, as expected. The company most recently planned to offer 1 million shares at the same price before decreasing its deal size by 50% on Tuesday. It originally filed to raise $69 million in September 2017. At pricing, the company commands a market value of $47 million. Because its deal size is less than $5 million and its market cap is less than $50 million at pricing, Presidio Property Trust will be excluded from Renaissance Capital’s stats.

Presidio Property Trust plans to list on the Nasdaq under the symbol SQFT. Kingswood Capital Markets acted as sole bookrunner on the deal.

The article Nano-cap commercial REIT Presidio Property Trust prices IPO at $5 originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment

FTSE 100 drops as oil prices fall on U.S. stimulus worries; Tesco jumps

October 7, 2020

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By Shashank Nayar

Oct 7 (Reuters) – London’s FTSE 100 slipped on Wednesday, as a fall in oil prices following U.S. President Donald Trump’s decision to halt negotiations with Congress for a U.S. stimulus knocked energy stocks, while Tesco gained after reporting a jump in sales.

The blue-chip FTSE 100 index .FTSE fell 0.2%, with energy .FTNMX0530 and insurers .FTNMX8570 leading the declines. The mid-cap index .FTMC was up 0.1%.

The energy index was also the biggest drag on the FTSE 100 as oil prices fell more than 1% on Trump’s decision and a larger-than-expected increase in U.S. crude inventories. O/R

“The market is in belief that there will be a stimulus package coming anyway irrespective (of) who wins the U.S. elections. However, investors are on the edge with continuing uncertainty on Brexit and have taken the view that they shouldn’t place long bets in this environment,”