Money


Harvey knocks out more refineries, shifting global oil flows Harvey knocks out more refineries, shifting global oil flows
- September 01, 2017

Traders from Europe to Asia were scrambling to fix fuel cargoes to the United States . "The longer the Gulf refinery outages last, the wider ranging the ripple effect for regions outside of the U.S. Restarts after a storm are especially unsafe times for refiners, though the Corpus Christi area received much less rain than the Houston metro area. (more...)
Crude Oil Retreats Despite API Inventories Draw Crude Oil Retreats Despite API Inventories Draw
- September 01, 2017

Refinery use is liable to decline sharply over the next two weeks which will have an important impact in limiting crude demand and there is liable to very erratic oil data during the next month. "With U.S. continuously pumping more output, we expect the temporary impact of falling inventory to fade away in the upcoming months, thereby delaying market rebalance", said Rahul Prithiani, director at CRISIL Research. (more...)
Almost one-quarter of USA fuel output shut, and Harvey isn't done Almost one-quarter of USA fuel output shut, and Harvey isn't done
- September 01, 2017

Motiva's massive Port Arthur refinery, the largest in the US, shut down on Wednesday due to "increasing local flood conditions", while Valero also closed its Port Arthur refinery on Wednesday. "If they've been down a week, it will take another week to get production back up", Oliver said . The nation's least expensive markets are SC ($2.11), Alabama ($2.12), Arkansas ($2.12), MS ($2.12), Oklahoma ($2.13), Missouri ($2.14), Virginia ($2.15), Louisiana ($2.16), Tennessee ($2.16) and Texas ... (more...)
Traders can't Passover these Volume stocks: Costco Wholesale Corporation (NASDAQ:COST) Traders can't Passover these Volume stocks: Costco Wholesale Corporation (NASDAQ:COST)
- September 01, 2017

The firm has "Positive" rating by Susquehanna given on Friday, February 10. The stock of Costco Wholesale Corporation (NASDAQ: COST ) is a huge mover today! The legal version of this piece can be read at https://baseballnewssource.com/markets/guggenheim-reiterates-neutral-rating-for-costco-wholesale-corporation-cost/1565164.html. (more...)
Fuel prices poised to rise due to Harvey Fuel prices poised to rise due to Harvey
- September 01, 2017

At least 3.6 million bpd of refining capacity are offline in Texas and Louisiana, or almost 20 percent of total USA capacity, based on company reports and Reuters estimates. President Donald Trump read . If any of them are damaged, strong profit margins for other refineries will last longer. Perry first authorized a release of 500,000 barrels of crude oil from the emergency oil reserve early Thursday. (more...)
Oil markets roiled as Hurricane Harvey hits USA petroleum industry Oil markets roiled as Hurricane Harvey hits USA petroleum industry
- September 01, 2017

That's 12 cents higher than a week ago, when Harvey threatened Texas, and 4 cents above Wednesday's price. More than 18 percent of oil production in the Gulf of Mexico was shut in on Tuesday due to Harvey, the U.S. Preparing for more rain and floods, Total cut production in half at its 225,500 bpd refinery, also in Port Arthur. The risk is that this onshore production takes longer to return than the market may expect, given the apparent widespread damage to infrastructure from flooding ... (more...)
Hurricane Harvey: How can you help? Hurricane Harvey: How can you help?
- September 01, 2017

The flooding and devastation caused by Harvey has not stopped since it made landfall Friday night. For every $1 donated, Walmart will contribute $2 worth of cash or, at Walmart's option, needed product to the American Red Cross , up to $10 million. (more...)
More than 500 complaints filed with Texas AG over Dallas gas prices More than 500 complaints filed with Texas AG over Dallas gas prices
- September 01, 2017

Several drivers have already reported stations out of gas, and others are waiting in long lines for their chance to fill up. The station is now out of gas and doesn't expect to have any more until Sunday. Gas prices in the Cedar Park area increased as well. His message? There's no fuel shortage . His advice: "Try to have a sense of calm". "If we tried to keep every store full of gasoline, we'd have outages everywhere". (more...)
Oil down as U.S. refineries struggle from Harvey impact Oil down as U.S. refineries struggle from Harvey impact
- September 01, 2017

Refiner share prices jumped Monday with margins expected to rise on the fallout from Hurricane Harvey. "Given that a significant portion of refining capacity in the US Gulf Coast is shut, we are likely to witness a situation of high domestic crude stockpiles, which will put pressure on prices", Amit Musaddy of energy consultancy Trifecta told AFP. (more...)
Mass. Red Cross Readies Volunteers For Texas Mass. Red Cross Readies Volunteers For Texas
- September 01, 2017

Wyoming and Colorado residents are traveling to Texas to volunteer after the record-breaking Hurricane Harvey . During natural disasters like Harvey the Red Cross typically sees a spike in phone calls from people offering to help. The American Red Cross is offering a volunteer training class on Monday, September 4th from 9:00 a.m. -3:00 p.m. Bullock is not the only celebrity to give generously to the Harvey relief effort. (more...)
Wells Fargo boosts estimate of fake accounts to 3.5M Wells Fargo boosts estimate of fake accounts to 3.5M
- September 01, 2017

Summary: Wells Fargo admitted that 3.5 million fake accounts were created by employees trying to meet unrealistic sales goals. Elizabeth Warren , who has been tough on Wells Fargo , had a point. (NASDAQ:AAPL) for 444,205 shares. Following the completion of the transaction, the insider now directly owns 109 shares of the company's stock, valued at approximately $5,675.63. (more...)
Bank of England policymaker calls for 'modest' interest rate rise Bank of England policymaker calls for 'modest' interest rate rise
- September 01, 2017

A senior Bank of England official said Thursday that the United Kingdom central bank should raise interest rates now to restrain inflation. But the MPC's foot no longer needs to be quite so firmly on the accelerator, he believes. "I do not want to dismiss risks that the Brexit process might be bumpy, and could undermine business and consumer confidence", he said. Echoing Governor Mark Carney's comments previous year, Saunders said the BOE is "not indifferent" to the faster inflation ... (more...)
Uber's New CEO Played a Role in Expedia's Bet on Alice Uber's New CEO Played a Role in Expedia's Bet on Alice
- September 01, 2017

The Iranian-American has responded to initial public offering (IPO) questions by expressing the opinion that he would like to see it as late as possible. "Culture is written bottoms up". Uber's current chairman is Garrett Camp, who is expected to be replaced, according to the Journal. Kalanick stepped down as chief executive in June due to pressure from influential investors, including Benchmark Capital, which went on to file a civil lawsuit against Kalanick, accusing him of fraud, breach of ... (more...)
ConAgra Brands, Inc. (CAG) Hits a 52-Week Low
- September 01, 2017

The institutional investor held 800,000 shares of the telecommunications equipment company at the end of 2016Q4, valued at $2.14M, down from 1.11 million at the end of the previous reported quarter. This implies that the market is now less bearish on the outlook for CAG. COPYRIGHT VIOLATION WARNING: This piece was first posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. (more...)
UK PM Theresa May
- September 01, 2017

Labour said she was "deluding herself" - but Foreign Secretary Boris Johnson led her defence, insisting she could win an absolute majority. "We have the right leader and PM to deliver this for us". May's office said her visit is expected to cover "a wide range of bilateral and regional issues". Her official meetings with Abe and other Japanese officials are scheduled for Thursday in Tokyo. (more...)
Oklahoma gas prices holding steady in wake of Hurricane Harvey Oklahoma gas prices holding steady in wake of Hurricane Harvey
- September 01, 2017

More than 2 million barrels per day of US refining capacity remain shut because of Harvey , which slammed into the Texas coast near Corpus Christi late on Friday. Hurricane Harvey has already taken an enormous human toll on the Gulf Coast, killing at least eight people and forcing around 30,000 to seek shelter from the unprecedented rainfall. (more...)
Petroleo Brasileiro SA - Petrobras (PBR) has current market capitalization of $58.74 Billion
- September 01, 2017

About 155,963 shares traded or 12.31% up from the average. Automatic Data Processing (NASDAQ:ADP) has risen 15.83% since August 24, 2016 and is uptrending. Lannett had 25 analyst reports since July 21, 2015 according to SRatingsIntel. Wall Street is only getting more bullish on the stock, with 7 of analysts who cover PBR having a buy-equivalent rating. (more...)
Gas Prices To Continue Rise As Key Southeastern Pipeline Runs Intermittently Gas Prices To Continue Rise As Key Southeastern Pipeline Runs Intermittently
- September 01, 2017

The pipeline transports more than 3 million barrels of diesel, gasoline and jet fuel each day from Houston to New York Harbor, making it the main provider for major cities like New York, Atlanta and Washington, D.C. Power outages during Hurricanes Katrina and Rita in 2005 forced the shutdown of parts of the Colonial Pipeline for several days. Colonial said of the 26 refineries that connect to the Colonial system, 13 were located between Houston and Lake Charles, Louisiana, an area affected ... (more...)
India rupee: Opposition say cash crackdown was disaster India rupee: Opposition say cash crackdown was disaster
- September 01, 2017

The government of India banning high value currency notes on November 8 previous year - a move that has come to be known as demonetisation - is truly a non-event, contrary to how the government had projected it. The government had initially estimated about 5 trillion rupees, of the 15.4 trillion rupees rendered worthless by "demonetisation" on November 9 past year, to remain undeclared as it may have escaped the tax net illegally. (more...)
India's Demonetisation: 99% banned notes returned to Central Bank India's Demonetisation: 99% banned notes returned to Central Bank
- September 01, 2017

The RBI lost more money on printing notes compared to the bills that were permanently extinguished, former finance minister Palaniappan Chidambaram said . The reality, he said, is that the RBI data released today proves only Rs 16000 crore out of the 15.44 lakh crore money in circulation came back and of this, Rs 9000 crore is still stuck. (more...)

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