Oil prices could soar to $150 in a fully reopened world: Jefferies

Oil prices could move “significantly above” current levels due to the deep world’s dependence on fossil fuels and could reach $150, says Christopher Wood of Jefferies. “In a world that’s really reopened — which is a big thing — the price of oil could go up exponentially,” Wood, the investment bank’s global head of equity … Read more

Oil drops 11% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil pumps work against the sunset sky. imaginema | E + | Getty Images Oil prices fell to their lowest level in more than two months on Friday as the new strain of Covid-19 raised concerns about slowing demand as supply increases. The lower leg came amid a broad market sell-off with the Dow Jones … Read more

Japan’s Nikkei 225 drops more than 2% as Asia-Pacific markets slip amid renewed Covid fears

SINGAPORE – Shares in the Asia-Pacific region fell in trading on Friday, with Japanese shares leading losses regionally. Japan’s Nikkei 225 is down 2.37% as SoftBank Group shares are down more than 4% while Topix is ​​down 1.86%. The Hang Seng in Hong Kong also saw significant losses as it fell 1.73%. In China, the … Read more

IEA chief criticizes artificial tightness in energy markets

Oil pumping cranes are photographed at the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority said some countries had failed to take a beneficial stance to calm high oil and gas prices, criticizing the “artificial tightening” of energy markets. “[A] The factor that I … Read more

Oil headed for $100 despite U.S. efforts to release reserves: Analyst

Oil prices may rise even though the United States and other major consumers are releasing millions of barrels of oil from their reserves in an effort to keep energy prices low, an analyst told CNBC. “It simply won’t work because the Strategic Petroleum Reserve – any country’s Strategic Petroleum Reserve isn’t there to try to … Read more

U.S., other nations will tap strategic petroleum reserves as gas prices hover around 7-year high

President Joe Biden said Tuesday that the administration will tap the Strategic Petroleum Reserve as part of a global effort by energy-consuming nations to cool rapidly rising fuel prices in 2021. The coordinated release between the United States, India, China, Japan, the Republic of Korea, and the United Kingdom is the first of its kind. … Read more

Kevin O’Leary on U.S. build back better plan, inflation, hyperinflation

Kevin O’Leary, CEO of O’Shares Exchange Traded Funds, listens during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, April 30, 2019. Kyle Grelot | Bloomberg | Getty Images Popular investor Kevin O’Leary told CNBC on Tuesday that voters in the United States are “angry” about inflation and Democrats will have a … Read more

Biden picks Powell to lead U.S. Fed for a second term

SINGAPORE – Shares in the Asia-Pacific region mostly fell in trading on Tuesday as investors watched the market’s reaction to US President Joe Biden’s selection of Jerome Powell for a second term as Federal Reserve Chairman. Hong Kong’s Hang Seng is down 0.9% while stocks in mainland China are mixed, with the Shanghai Composite up … Read more

JD.com, Netease shares in Hong Kong jump

SINGAPORE – Shares in the Asia-Pacific region were mixed in trading Monday, as China kept its benchmark lending rate unchanged. Hong Kong’s Hang Seng Index is down 0.42%. Hong Kong-listed shares of JD.com and Netease gained 1.87% and 3.02%, respectively, after Friday’s announcement that the two shares are set to be listed on the Hang … Read more

Morningstar picks property stocks that could win as China tries to 'clean up the space'

From telecommunications to real estate, Morningstar sees potential in some Chinese stocks — even as market valuations are costly. .