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The Latest Breaking News on Markets

As Demand for This Industry Surges, This Stock Is Lagging Behind

While the energy sector has been sailing smoothly, junior oil and gas company Reconnaissance Energy (RECAF) has been struggling with declining revenue and profitability. The stock has plummeted more than 20% over the past month. Hence, it could be best avoided. Read more.

StockNews.com

Asian shares higher after report shows resilience in US jobs

Shares are mostly higher in Asia after a report showed resilience in the U.S. jobs market

The Independent UK

No.1 Stock to Buy in This A-Rated Industry

High demand, supply cuts, and the reopening of the Chinese economy is expected to boost the energy sector’s growth this year. Industry tailwinds are favoring Parex Resources (PARXF), helping it surge over the past few months. It is currently trading above its 50-day and 200-day moving averages. Hence, this top…

StockNews.com

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Gold Off One-year Highs as Dollar Firms ahead of US Payrolls Data

Gold prices retreated from one-year highs on Thursday as the dollar regained some ground, while investors awaited the US non-farm payrolls report to gauge the Federal Reserve's monetary policy strategy. Spot gold fell 0.4% to $2,013.13 per ounce by 0701 GMT, after hitting its highest since March 2022 on Wednesday.

Asharq Al-Awsat

Wall Street Analysts Raise Their Oil Price Forecasts After Shocking Supply Cuts By OPEC+

Analysts on Wall Street are becoming far more bullish on oil prices, after OPEC+ announced voluntary output cuts totaling 1

Zenger

ASX down after Wall St falls on weak economic data, RBA says banks, households resilient but some pockets of stress

The local share market has snapped its eight-session winning streak but still managed a gain for the week. Here's how the day's events unfolded, with insights from our business reporters.

ABC News

Saudi Arabia hikes oil prices to Asia after OPEC+ shock cuts

Saudi Arabia hiked official selling prices for all of its oil sales to Asian customers in May, days after the kingdom led a surprise OPEC+ output cut.

Tribune News Service

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3 Golden Opportunities for Investors

Yesterday, gold surged past the $2000 mark with a record high in sight after weaker job openings data aided bets that the Fed will ease tightening. Hence, it could be wise to invest in fundamentally sound gold stocks OceanaGold (OCANF), Torex Gold (TORXF), and Dundee Precious Metals (DPMLF), as they…

StockNews.com

Global shares mixed after Wall St dips on weak economic data

Global shares were trading mixed Wednesday as Germany reported its factory orders surged in February, posting their third successive increase in another promising sign for Europe’s biggest economy

The Independent UK

Asian shares mixed after Wall St dips on weak economic data

Asian shares are trading mixed following a decline on Wall Street after reports on the U.S. economy came in weaker than expected

The Independent UK

The Rare ‘A-Rated’ Stock Based on POWR Rating

Energy company CrossAmerica Partners (CAPL) delivered a robust bottom-line performance in the last quarter and fiscal year 2022. Given the rising oil prices and rosy prospects of the energy industry, CAPL might be a solid buy. The stock is rated an A (Strong Buy) in our proprietary rating system. Keep…

StockNews.com

Voluntary Oil Production Cut: Decision to Balance Demand, Production Levels

Oil and economic experts confirmed that the voluntary oil production cuts taken by oil-exporting countries within OPEC+, starting May and continuing until the end of 2023, aim to achieve market balance. Mubarak Alhajeri, a faculty member at Kuwait's College of Technological Studies, explained that the cut had shocked global markets…

Asharq Al-Awsat

Asian shares mixed as surging oil prices fan inflation fears

Shares are mostly higher in Asia as investors watch for the latest moves by central banks

The Independent UK

Yellen says OPEC+ cut ‘unconstructive’ as world fights inflation

U.S. Treasury Secretary Janet Yellen criticized the decision by OPEC+ oil producers over the weekend to cut output, saying it was “unconstructive” and would add to the uncertainty overhanging global growth.

Tribune News Service

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ABC News

Reserve Bank flags 'further tightening' to tame inflation after leaving interest rates on hold at 3.6pc, ASX closes higher

The Reserve Bank has left interest rates on hold at 3.6 per cent, but says some further tightening of monetary policy may be needed, while the Australian share market hit a fresh three-week high.

Kiplinger

Stock Market Today: Stocks Finish Mixed After Surprise OPEC+ Announcement

The Organization of the Petroleum Exporting Countries and its allies over the weekend announced a surprise cut to crude production.

Kiplinger

Oil Prices Rise Sharply Following OPEC Announcement

In total, cutbacks in production will be over one million barrels a day. Because of these announced cutbacks, the global benchmark of oil prices, Brent crude, had a 5.31% increase in cost, rising to $84.13 a barrel. The U.S. benchmark, WTI, surged to $79.83 a barrel, a 5.48% increase.

StockNews.com

Is It Time to Buy, Sell or Hold These 3 Steel Stocks?

As U.S. steel sentiment hits a new high this year due to increased finished prices, the steel sector is poised to stay afloat amid macro uncertainties. Is it the right time to buy, sell, or hold Friedman Industries (FRD), Aqua Metals (AQMS), and Companhia Siderúrgica Nacional (SID)? Let’s discuss….

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The Guardian - UK

Why are oil prices rising and what does it mean for inflation?

All you need to know about the Opec+ decision to cut production and the potential knock-on effects

Asharq Al-Awsat

Reducing Oil Production: A New Pillar to Support Global Economic Conditions

In support of the stability of the global oil markets, and the enhancement of the balance between supply and demand, the member of the Organization of Petroleum Exporting Countries (OPEC) and the producing countries within the OPEC+ have decided to implement a voluntary reduction of crude oil production. Experts described…

The Independent UK

Oil prices surge after Opec+ production cuts

Shell and BP saw their share prices rise following a jump in the price of oil.

The Times of India

Oil surges 8% after OPEC+ blindsides market with production cut

Oil surged at the week’s open after OPEC+ unexpectedly announced crude output cuts that threaten to tighten the market, delivering a fresh inflationary jolt to the world economy and irking the White House.

The Guardian - UK

Oil price surges after surprise Opec+ production cut

Move by world’s largest producers likely to unsettle western nations grappling with inflation

ABC News

OPEC+ slashes output on global recession fears; Australian motorists to be spared Easter pain

Australians hitting the road this Easter are likely to be spared any immediate hit from a bid by the global oil cartel to boost sagging prices.

The Independent UK

Oil prices soar on producer output cuts; Asian shares mixed

Oil prices have soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year

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