Oil
OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due to new COVID lockdowns in China.
Stock futures were flat in overnight trading Monday after investors bought the dip in technology shares following recent weakness.
Stock futures were in positive territory on Tuesday morning, ahead of consumer confidence data and a big week for economic data.
Oil prices jumped even higher on Monday after Russia-Ukraine talks appeared to yield no sign of progress, and markets continued to fret over tight supply — sparking a call by the International Energy Agency to reduce oil demand.
Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre of tighter sanctions and a prolonged disruption to oil supply.
Stock futures were little changed in overnight trading Wednesday after the major indexes posted sharp gains as commodity prices cooled.
Stock futures were higher early Wednesday morning as investors continued to assess a surge in commodity prices and high inflation while the war in Ukraine continues.
U.S. equity futures fell Sunday evening as U.S. oil price momentarily jumped to their highest level since 2008 amid the ongoing war between Russia and Ukraine.
Bulls have surged into the U.S. crude oil options market in recent days as futures touch highs not seen in a decade, betting that crude’s rally will persist, according to analysts and exchange data.
In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak – all but condemning his company’s core business to eventual obscurity.
