Oil climbs 1% as tankers avoid Red Sea after strikes on Houthis
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/4/2026
- Wall Street ends sharply higher as Waller remarks ease rate hike fears
- Fed’s Waller open to September rate hold - if disinflation holds up
- Broadcom raises AI chip forecast as Big Tech keeps writing bigger checks
- Nvidia to acquire AI platform Hugging Face in landmark $12.9B deal
- Tesla to unveil Cybercab Texas today, details are few
- After-Hours Movers: LULU, IOT, PATH, DOCU, ASAN, GWRE, ZS, PL, SWBI, OXM
- After-Hours Movers: AVGO, SNOW, HPE, NTAP, NTSK, CHPT, FIVE, TLYS, PVH, RARE
- After-Hours Movers: DELL, PANW, GTLB, CRDO, MDB, HPE, SMCI
- After-Hours Movers: WDAY, ADSK, S, RBRK, MRVL, ULTA, GAP, AFRM
- After-Hours Movers: NVDA, CRM, SNPS, CRWD, OKTA, NTNX
Oil prices: Sell rallies in early 2024 before the storm hits in 2025, Citi warns
January 12, 2024 11:26 AM EST(Updated - January 12, 2024 11:27 AM EST)
Citi commodity strategists project that, absent significant supply disruptions, OPEC+ is likely to maintain its 1Q24 production cuts throughout 2024, initiating a tapering process only in 2H25 due to diminishing effectiveness.
This strategic move aims to balance global oil markets, potentially sustaining oil prices above $70/bbl on a Brent basis throughout 2024, strategist Maximilian Layton said.
The rationale behind rolling over production cuts is not only to avoid a sharp price drop, often deemed as "shock therapy," but also to... More
