Markets
Crude Oil Drops To Lowest Since July 21
Gulf Coast. The jump came after the Colonial Pipeline, the biggest U.S. fuel system, said it would shut its main lines to the Northeast by Thursday, hit by outages at pumping points and lack of supplies from refiners. According to Bloomberg , oil traders booked 20 tankers from European suppliers since August 26, double the average for August. Across Houston last week, motorists refueled bef... [Full Article...]
How Hurricane Harvey Has Impacted Gas Prices
The price for West Texas Intermediate, the USA benchmark for the price of oil , was up 0 .85 percent at 9:25 a.m. EDT to $46.35 per barrel. The price of Brent oil was at $50.71 down from $51.79 and U.S. In contrast, the storm-induced refinery shutdowns remained bearish for crude. Beyond Harvey, U.S. commercial crude oil stocks fell by 5.39 million barrels last week, to 457.77 million barrels... [Full Article...]
UK Prime Minister May seeks to reassure Japan on Brexit
She responded by saying there was "no basis in it whatsoever". "I am not a quitter". But she rejected the talk of her standing down or being replaced in Number 10. But former Tory chairman Grant Shapps said it was "too early" for May to talk about going "on and on" like Margaret Thatcher. But she added: "I think it's going to be hard for Theresa May to lead us into the next general election". [Full Article...]
Campbell Soup Back At September 2015 Levels After Q4 Miss
Benjamin F Edwards Inc stated it has 0.01% of its portfolio in Campbell Soup Company (NYSE: CPB ). It has underperformed by 29.52% the S&P500. The median estimate represents a 10.45% increase from the last price. (NYSE:STM). Credit Agricole S A accumulated 416,178 shares. After this sale, 33,760 common shares of CPB are directly owned by the insider, with total stake valued at $1,696,440. [Full Article...]
Strategic oil reserve tapped in first emergency draw since 2012
Refiners further south on the Texas coast, including Marathon's Galveston Bay, were beginning restarts, while Citgo's 425,000 bpd Lake Charles refinery, on the Louisiana coast in the path of the storm, cut capacity in half. The amount of oil could feed refinery operations for around 4 days and "make enough gasoline to fuel US autos for an hour and 15 minutes", he said. [Full Article...]
Rockwell Collins, Inc. (COL) Shares Bought by Cadence Capital Management LLC
Artisan Partners Limited Partnership now owns 1,057,134 shares valued at $111,084,000. Rockwell Collins, Inc. ( COL ) is ahead of its 52-week low with 66.46% and 0.28% off from 52-week high. On average, equities analysts expect that Rockwell Collins, Inc . will post $6.09 earnings per share for the current fiscal year. One research analyst has rated the stock with a sell rating, ten have assign... [Full Article...]
Southern Tier can expect jump at the pump due to Harvey
Investors will likely get out of their short positions, according to Andy Lipow, president of consultant Lipow Oil Associates LLC in Houston , said by telephone. How much they rise will depend on what happens when refineries attempt to restart in coming days, she said. On Wednesday, Valero said that due to flooding they were fully shutting their Port Arthur refinery. [Full Article...]
Darktrace joins UK Prime Minister in Japan trade mission
Darktrace's CEO EMEA, Poppy Gustafsson, is one of a select group of business leaders to accompany the Prime Minister on the three-day trip to Japan . Boris Johnson insists May has his "undivided backing" . After arriving in Japan, May also said Britain would later be able to change the terms of such trade deals. [Full Article...]