U.S. shale oil output forecast to climb by 98,000 barrels a day in November: EIA

U.S. shale oil output forecast to climb by 98,000 barrels a day in November: EIA
By Markets/commodities reporter Crude-oil production from seven major U.S. shale plays is expected to see a climb of 98,000 barrels a day in November to 7.714 million barrels a day, according to a report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to... Read More

Stocks Finish Volatile Trading Session Sharply Lower – U.S. Commentary

Stocks Finish Volatile Trading Session Sharply Lower – U.S. Commentary
Stocks saw substantial volatility over the course of the trading session on Thursday before ending the day sharply lower. The major averages finished the day firmly in the red, adding to the steep losses posted in the previous session. The major averages closed firmly in negative territory but off their lows of the session. The Dow plunged 545.91 points or... Read More

TSX Plunges Sharply On Growth Concerns

TSX Plunges Sharply On Growth Concerns
The Canadian stock market plunged sharply on Wednesday, with investors indulging in heavy selling across the board, amid growing concerns over a slowing global economy. Rising bond yields and prospects of more interest rate hikes in the U.S. and Canada weighed on the market. The sell-off on Wall Street and falling European markets hurt sentiment. Crude oil’s decline amid speculation... Read More

Futures Move Lower Following Producer Prices Report

Futures Move Lower Following Producer Prices Report
The major U.S. index futures are pointing to a lower opening on Wednesday, with stocks likely to move to the downside after closing mixed for two consecutive sessions. Stock futures fluctuated earlier in the day before coming under pressure following the release of the Labor Department’s report on producer price inflation in the month of September. The report said producer... Read More

Apollo funds to acquire $1 billion of equity investments from GE Capital’s energy financial services unit

Apollo funds to acquire $1 billion of equity investments from GE Capital’s energy financial services unit
Funds managed by Apollo Global Management LLC APO, -3.76% have agreed to acquire a portfolio of equity investments worth about $1 billion from GE Capital’s GE, +4.11% energy financial services unit. No terms were disclosed, but the portfolio comprises about 20 investments in renewable energy, contract natural gas fired generation and midstream energy infrastructure assets, mostly in the U.S., Apollo... Read More

IGC’s stock tumbles toward biggest ever decline, again

IGC’s stock tumbles toward biggest ever decline, again
Shares of India Globalization Capital Inc. IGC, -36.20% plunged toward its biggest-ever one-day decline, as they extended their pullback following the meteoric run up after the company said it was entering the cannabidiol-infused energy drink space. The stock plummeted 37.1% in afternoon trade, the biggest decline since it went public in April 2006, amid a broad selloff in cannabis stocks.... Read More

Natural-gas prices decline after EIA reports a bigger-than-expected weekly rise in U.S. supplies

Natural-gas prices decline after EIA reports a bigger-than-expected weekly rise in U.S. supplies
By Markets/commodities reporter The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 98 billion cubic feet for the week ended Sept. 28. That was above the 85 billion-cubic-foot increase expected by analysts polled by S&P Global Platts. Total stocks now stand at 2.866 trillion cubic feet, down 636 billion cubic feet from a year... Read More

Stocks Give Back Ground But Close In Positive Territory – U.S. Commentary

Stocks Give Back Ground But Close In Positive Territory – U.S. Commentary
Stocks saw notable strength in morning trading on Wednesday before giving back some ground in the afternoon. Despite the pullback by the major averages, the Dow still ended the session at a new record closing high. The major averages closed in positive territory but well off their best levels of the day. The Dow rose 54.45 points or 0.2 percent... Read More

U.S. oil benchmark climbs back to a nearly 4-year high

U.S. oil benchmark climbs back to a nearly 4-year high
By Markets/commodities reporter Oil futures rallied on Wednesday as reported declines in Iranian exports due to pending U.S. oil sanctions, and uncertainty surrounding the ability of other major oil producers to make up for the loss, lifted U.S. and global prices back to nearly four-year highs. The strong gains came despite data from the U.S. government which revealed the largest... Read More