Business

US crude stockpiles fall as imports drop, refinery rates rise

US crude stockpiles fall as imports drop, refinery rates rise

Indeed, about two thirds of the participants in the latest CNBC Oil Survey said if OPEC agrees to cut production, it will have to do more than what was agreed to in September in order to have an impact on prices. The US distillate fuel production increased last week, averaging 5.1 million barrels per day, said the report . "I think if that happens there is scope to see oil surge up into the mid-$50s a barrel at least temporarily", Spooner said.



Thanksgiving Gas Prices Are Third Lowest In A Decade

That's according to GasBuddy , a website that shows where to find the lowest fuel prices. "Most will travel on the tried and true holiday road trip, thanks to gas prices that are holding at close to $2 per gallon". More people may be hitting the roads during the Thanksgiving holiday next week. In all, 48.7 million Americans are expected to travel 50 miles or more.


Fed rate hike predictions support dollar but weigh on stocks

Fed rate hike predictions support dollar but weigh on stocks

The Standard & Poor's 500 index rose 0.5 percent to 2,187.12. The dollar has been gaining against all emerging market currencies since U.S. election results on November 9 on the hope that president-elect Donald Trump will come out with a growth-oriented policy, which will lead to higher interest rates.


Vetr Inc. Lowers Freeport-McMoRan Inc. (FCX) to Sell

Vetr Inc. Lowers Freeport-McMoRan Inc. (FCX) to Sell

Freeport-McMoRan, Inc. engages as copper, gold and molybdenum mining company. Barclays PLC lifted their target price on shares of Freeport-McMoRan from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Monday, August 8th.


Demonetisation has hit common man, will drag GDP by 2%: Manmohan Singh

Demonetisation has hit common man, will drag GDP by 2%: Manmohan Singh

Finance minister Arun Jaitley, while addressing opposition in the House, said that the government was ready for debate. However, the Government was now reneging on its promise, he said. "Take part in the survey on the NM App", he tweeted. Referring to the Government's survey to gauge people's views on the cash ban in which 90 per cent had allegedly supported the decision, she said 90 per cent people were facing huge problems.


Amid uncertainty, UK Treasury chief to offer bleak outlook

Amid uncertainty, UK Treasury chief to offer bleak outlook

Presidential race", said Philip Shaw, chief economist at Investec. Investment in R&D will rise by £2 billion a year by 2020. But the government remains "firmly committed to seeing the public finances return to balance as soon as practicable, while leaving enough flexibility to support the economy in the near term", he added.