S&P 500 Gains, Crude Falls Ahead Of Fed's Expected First Hike Since 2023: Stock Market Today
Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.
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WhiteWate, Devon Energy, Diamondback Energy, And Western Midstream Partners Take Positive Final Investment Decision Through Their Solitude Pipeline System JV To Construct Two 48-Inch Natural Gas Pipelines
Pipelines are each running from the Permian Basin to Katy, TX. The project has secured substantial long-term firm transportation agreements with predominantly investment-grade shippers to support the FID. Solitude will
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Shares of oil and gas exploration and production companies are trading lower as API data indicating a U.S. crude inventory weekly increase and EIA data showing that gasoline and distillate stored volumes grew since last week are pressuring stocks that have heavier exposure to the North American physical energy market. Also, reports suggesting Saudi Arabia is making efforts to get crude exports moving are dampening oil prices.
10-Year Yield Tops 5%, Oil Storms Past $105: Stock Market Today
The 10-year Treasury yield broke 5% for the first time since 2007 as WTI surged past $105 on Saudi pipeline outages, pressuring stocks ahead of the Fed.
Shares of oil and gas companies are trading higher amid a rise in crude after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.
Diamondback Energy Stock Slides Wednesday: What's Happening?
Shares of Diamondback Energy are trading lower Wednesday afternoon as energy equities face selling pressure from retreating crude benchmarks and broader positioning ahead of the Federal Reserve’s interest rate decision.
Got $10,000 to Invest This September? These Energy Stocks Could Turn It Into Over $600 in Annual Income.
Energy Transfer (ET) and MPLX are recommended as reliable income-generating midstream pipeline companies for September investment. Both MLPs offer high dividend yields (6.4% and 7.3% respectively) that are well-supported by their distributable cash flow, trade at attractive valuations, and are insulated from volatile commodity prices due to their 'toll road' business model.