This year has posed an unusual array of challenges for investors, and more could be in store. The major stock market indexes are still up in 2023, powered by a narrow slice of technology stocks, but have been losing ground rapidly. Bond yields have risen sharply, topping 5% on some government debt. The economic outlook … Read more
The Treasury is tasked with adjudicating how the hydrogen production tax credit included in the IRA will be implemented. It has said guidance on the tax credit will come by the end of the year and energy and climate communities are anxiously awaiting word. At the heart of the issue is how the electricity that … Read more
Speaking at the ADIPEC oil and gas conference, executives representing global energy majors sought to strike a positive tone on the current state of play for the fossil fuel industry. Big Oil, on the back of record profits last year, has been accused of dialing back its climate pledges in recent months. “I don’t see … Read more
The UAE oil giant ran by the president of COP28 is expected to spend more than $1 billion every month this decade on fossil fuels, according to new analysis conducted by Global Witness. The international NGO said the Abu Dhabi National Oil Company (ADNOC) is planning to spend an average of $1.14 billion a month … Read more
Despite oil trades being recently settled in the yuan and ruble, the U.S. dollar’s prominence in this market is here to stay. India’s oil and gas minister said that international payment systems “have been in place for a long time” and that to displace the dollar is “not so easy”. Oil trades have sometimes been … Read more
An oil pumpjack pulls oil from the Permian Basin oil field on March 14, 2022 in Odessa, Texas. Joe Raedle | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
Drilling rigs sit unused on a companies lot located in the Permian Basin area on March 13, 2022 in Odessa, Texas. Joe Raedle | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need … Read more
A split Food and Drug Administration decision on a new depression medicine from Sage Therapeutics and Biogen blew holes in the strategies of both companies and raised questions about the future of their collaboration. Late on Friday, the FDA approved a two-week course of the pill Zurzuvae as a treatment for postpartum depression, but not … Read more
The U.S. dollar has been king in global trade for decades — not just because the U.S. is the world’s largest economy, but also because oil, a key commodity needed by all economies big and small, is priced in the greenback. Most commodities are also priced and traded in U.S. dollars. But since the Federal … Read more