CNBC Daily Open: Dow sheds 1,000 points, Japan stocks rebound
S&P 500 posts worst day since 2022 in global market sell-off. Google loses antitrust case. Japan stocks rebound
Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes
Saudi Aramco reported $29.1 billion in net profit for the second quarter, a dip of 3% from the same period last year as production volumes remained low.
CNBC Daily Open: Dow sheds 1,000 points
S&P 500 posts worst day since 2022 in global market sell-off. Google loses antitrust case. Bitcoin tumbles
U.S. crude oil falls below $72 per barrel, hits six-month low as market sells off
Weak economic data in the U.S. sparked a sell-off in equity markets as fears grow that a recession may be looming.
Coterra’s strong energy production allowed for big cash returns to shareholders
We’re cutting our price target in acknowledgment that commodity prices have come down as the economy is slowing.
Exxon earnings beat as production in Guyana and Permian sets a record
ExxonMobil on Friday posted its second highest results for the second quarter in the past decade, helped by record production in Guyana and the Permian Basin.
Chevron earnings miss on lower refining margins, relocates headquarters to Houston
The results come as the Chevron-Hess deal is delayed until well into 2025 due to an arbitration case with ExxonMobil.
U.S. crude oil breaks $78 per barrel as fears of war between Iran and Israel grow
Iran has ordered a direct strike against Israel, according to the New York Times.
Shell beats second-quarter profit expectations, launches $3.5 billion share buyback program
Shell on Thursday posted stronger-than-expected second-quarter profit after issuing a warning over lower fossil fuel prices and refining margins.
July 2024
Brent tops $80 per barrel as oil analyst flags ‘phase of deterioration’ in the Middle East
Iran’s claim that Hamas political leader Ismail Haniyeh was assassinated have rekindled tensions in the Middle East, shoring up oil prices.