My top 10 things to watch Monday, July 24 1. Chevron (CVX) on Sunday announced excellent preliminary second-quarter results , while extending the contract of CEO Mike Wirth. The United States’ second-largest oil firm in May announced an agreement to expand its shale operations by acquiring PDC Energy (PDCE) in a deal valued at $7.6
Environment
In this article GSBD GS Follow your favorite stocksCREATE FREE ACCOUNT Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., at night in Tuapse, Russia. Andrey Rudakov | Bloomberg | Getty Images Goldman Sachs expects record demand in oil markets to drive crude prices higher in the near term. “We expect
Oil prices are expected to increase in the second half of 2023, according to the International Energy Forum. Christopher Furlong | Getty Images News | Getty Images Oil prices are set to rise in the second half of the year as supply struggles to meet demand, according to the Secretary General of the International Energy
Volatility is still weighing on oil markets, U.S. Energy Secretary Jennifer Granholm said Saturday, reiterating calls for additional supplies. Asked to comment on the state of oil markets, she told CNBC’s Sri Jegarajah that “there’s no doubt that there is a volatile environment, and … there’s plenty of indebtedness” — a situation that the White
In this article 8JO0-FF TSLA Follow your favorite stocksCREATE FREE ACCOUNT Volvo Cars CEO Jim Rowan photographed in Nov. 2022. The company wants every car it sells to be fully electric by the year 2030. Anders Wiklund | AFP | Getty Images Volvo Cars does not plan to use autonomous driving technology from Tesla and
A number of Club stocks that were unloved on Wall Street earlier in the year have seen their fortunes rebound in recent months, including oilfield-services firm Halliburton (HAL) and industrial Caterpillar (CAT) — creating potential opportunities to lock in gains. It’s been the year of technology on Wall Street. But, as Jim Cramer said Wednesday
“The question of how to create sustainable air travel has plagued the green movement for decades,” said Dale Vince, founder of British energy firm Ecotricity. Ryan Hiscott | Getty Images Sport | Getty Images British entrepreneur Dale Vince on Monday announced plans to launch an electric airline that will be powered using renewable energy —
Halliburton (HAL) reported mixed second-quarter results before the bell Wednesday as weaker-than-expected results in its completion and drilling segment were a drag. Total revenue rose 14% year over year to $5.8 billion, however, came up a bit short versus analyst expectations of $5.86 billion, according to Refinitiv. Earnings per share (EPS) of 77 cents (excluding
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT A Tata Motors concept EV on show at the India Auto Expo 2023 on Jan. 12, 2023. Anindito Mukherjee | Bloomberg | Getty Images The Tata Group will develop a major facility for the production of electric car batteries in the U.K., with the Indian
Fervo Energy’s full-scale commercial pilot, Project Red, in northern Nevada. Photo courtesy Fervo Energy Geothermal startup Fervo Energy announced a key technical milestone on Tuesday, paving the way for geothermal energy to play a bigger role in the transition to clean energy. Fervo drills deep wells and pumps water into them. The water grows hot
In this article COLD MCD WMT TSN NES.N-CH Follow your favorite stocksCREATE FREE ACCOUNT Americans love frozen food. Virtually all American households purchase frozen food at least once a year, but without resilient cold storage supply chain infrastructure, the growth and safety of the massive $265 billion global frozen food market may be put at
An oil refinery, operated by Bharat Petroleum Corp., in Mumbai, India. Dhiraj Singh | Bloomberg | Getty Images India’s ability to import more Russian oil may have hit a limit, analysts tell CNBC, citing infrastructural and political constraints, as well as limitations to Russian oil flows. “India will look to continue Russian crude imports, but
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Big Tech keeps getting price target hikes Watch for earnings from three Club names Not all semis are liked as much as Nvidia 1. Big Tech gets price target hikes
New York City Mayor Eric Adams arrives for a press conference on gun violence at the Office of Chief Medical Examiner on June 26, 2023 in New York City. Michael M. Santiago | Getty Images New York City mayor Eric Adams has reportedly pledged to correct his annual financial disclosure form filed with the Conflicts
Two weeks into the second half of the year, we put together a quick look at the top three performers and the bottom three in Jim Cramer’s Charitable Trust, the stock portfolio we use for the Investing Club. The first full trading week of July saw Wall Street under some pressure Friday after a multisession
View of Russian oil port Novorossiysk. Алексей Облов | Moment | Getty Images Spot prices of Russia’s crude oil this week surpassed the $60-per-barrel threshold of the Group of Seven’s oil price cap scheme, as Moscow and Riyadh tighten supplies. The G7 introduced its oil price cap mechanism on Dec. 5 to retain Russian flows
In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France. Chesnot | Getty Images Ripple’s XRP token went up 68% in the last 24 hours, leading a wider rally of major-cap altcoins, as crypto traders digest a key ruling that could stifle U.S. regulator
Shortly after the opening bell, we’ll be selling 200 shares of Halliburton (HAL), at roughly $37.57 apiece. Following the trade, Jim Cramer’s Charitable Trust will own 1,600 shares of HAL, decreasing its weighting in the portfolio to 2.11%, from 2.37%. Our three energy positions — oilfield services giant Halliburton as well as oil and natural
Two large oil tankers unload at the 300,000-ton crude oil terminal in Yantai Port, Shandong Province, China, July 9, 2023. Future Publishing | Future Publishing | Getty Images The International Energy Agency on Thursday cut its global oil demand growth forecast for the first time this year, primarily citing a worsening economic outlook that weighs
Workers photographed at a lithium mine in Chile on August 24, 2022. Lithium is integral to the batteries that power electric vehicles. John Moore | Getty Images News | Getty Images Demand for the critical minerals key to a future centered around low and zero-emission technologies is surging, according to the International Energy Agency, with
Taihuttu family in Phuket, Thailand Didi Taihuttu LAGOS, PORTUGAL — In the small coastal town of Lagos in the heart of Portugal’s southern Algarve region, Didi Taihuttu begins most days on the rooftop of his villa — an unassuming home with rustic charm set atop a hill that slopes up from the Atlantic Ocean. The
In this article AKH.H-V Follow your favorite stocksCREATE FREE ACCOUNT An oil pipeline stretches across the landscape outside Prudhoe Bay in North Slope Borough, Alaska, May 25, 2019. The Washington Post | The Washington Post | Getty Images Alaska can be a rugged and unforgiving place, and that’s not just its landscape. Its economy is
In this article FOXF FOXA Follow your favorite stocksCREATE FREE ACCOUNT Europe was gripped by punishing heat waves in the summer of 2022, with wildfires, droughts and deaths highlighting what many around the world already know: Weather extremes can have devastating, real-world consequences. When it comes to temperatures in warmer months, the direction of
Amin Nasser, chief executive of Saudi Arabian oil giant Aramco. Adam Galica | CNBC The chief executive of Saudi Arabian oil giant Aramco on Wednesday attributed the ongoing depression of oil prices to recessionary fears and economic headwinds, painting a more optimistic landscape for demand to come. “This is in a year where there [are]
A plane flying over Northamptonshire, England. For many, turbulence is an uncomfortable part of air travel. Joe Giddens – Pa Images | Pa Images | Getty Images Turbulence during a flight can be an uncomfortable experience for many, ranging from mild bumpiness to more serious instances of damaged airplanes and injured passengers. With millions of
Germany entered a technical recession on May 25, and economists have predicted that GDP growth is set to stagnate for the rest of the year, painting a gloomy picture for Europe’s largest economy. Anadolu Agency | Anadolu Agency | Getty Images With Germany already in a technical recession, economists predict that GDP growth is set
Haitham al-Ghais, secretary-general of the Organization of Petroleum Exporting Countries (OPEC), speaking at the Energy Asia Summit on June 26, 2023. Bloomberg | Bloomberg | Getty Images The secretary-general of the Organization of Petroleum Exporting Country signaled that the influential producers’ alliance is actively open to recruiting new members. Asked if he is trying to
In this article TTE-FR Follow your favorite stocksCREATE FREE ACCOUNT The chief executive of TotalEnergies defended the firm’s greenhouse gas emissions strategy, saying the company remains committed to oil and gas despite repeated warnings that increasing fossil fuel production will only make matters worse. Speaking to CNBC’s Dan Murphy in Vienna, Austria on the sidelines
Global commodities have seen a more than 20% slump compared to the same period last year, as reflected by the S&P GSCI Commodities index. Jung Getty | Moment | Getty Images Prices of commodities like crude oil and iron ore have been sliding this year, underlining a continuing economic rout across the globe and possible
Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud speaks during a panel discussion at the 10th Arab-China Business Conference in Riyadh, on June 11, 2023. Fayez Nureldine | Afp | Getty Images The latest round of voluntary crude oil output cuts evidence the cooperation between heavyweight producers and allies Russia and Saudi Arabia, the
Technology stocks ought to take a bow. They were the standout performers in the first half of 2023, powering Wall Street — and the Club’s portfolio – higher over the first and second quarters in impressive fashion. The tech-heavy Nasdaq Composite recorded its best first half of a year since 1983, rising 32.7% through Friday’s
In this article IBE-ES ENR-DE Follow your favorite stocksCREATE FREE ACCOUNT Hydrogen storage tanks in Spain in May 2022. Hydrogen has a diverse range of applications and can be deployed in a wide range of industries. Angel Garcia | Bloomberg | Getty Images The buzz around hydrogen has gotten increasingly loud in the past few
A decision Monday by Saudi Arabia and Russia, the world’s largest oil exporters, to cut production in an effort to push up oil prices is a bullish development for the Club’s struggling energy holdings. Saudi Arabia, the de-facto head of the Organization of the Petroleum Exporting Countries, said it would extend a voluntary oil-output cut
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