CNBC Daily Open: Soft landing hit by minor turbulence
Just when the coast appeared clear, geopolitical tensions and potential supply chain snarl-ups threaten to turn the soft-landing trajectory into a bumpy one.
Oil watchers now see a real threat of supply disruptions after latest Iran-Israel escalation
Oil watchers are now factoring in a genuine threat to crude supplies after Iran launched a barrage of missiles on Israel.
Saudi Arabia slashes growth forecasts, sees wider budget deficits
Saudi Arabia’s real GDP is expected to grow 0.8% this year, a dramatic drop from a previous estimate of 4.4%, according to the latest government figures.
U.S. crude oil drifts lower, trades below $68 per barrel despite war in Lebanon
The supply and demand balance continues to outweigh geopolitical risk.
Abu Dhabi’s ADNOC to acquire German chemicals firm Covestro for $16.4 billion
Abu Dhabi’s state oil firm ADNOC announced it will buy German firm Covestro in a 14.7 billion-euro deal ($16.4 billion).
September 2024
CNBC Daily Open: Markets just had an expectations-defying month
The S&P 500 has fallen at least 4% in the last four Septembers. But the index charted a new trajectory this year to cap off a winning month and quarter.
FTC clears Chevron-Hess deal, bans John Hess from board
John Hess will serve as an advisor to Chevron on government relations and "social investments" in Guyana.
U.S. crude oil on pace for third monthly loss in a row in September
The West Texas benchmark has declined more than 7% for the month, while global benchmark Brent has fallen about 9%.
The U.S. wants to triple nuclear power by 2050. America’s coal communities could provide a pathway
The U.S. needs to add 200 gigawatts of nuclear power, a senior official at the Department of Energy said.
Oil alliance OPEC+ zeroes in on group compliance after postponing output hike
The OPEC+ alliance is once more angling in on group compliance with oil output cuts, amid overproduction from heavyweight members Iraq and Kazakhstan.