Bulletin
Investor Alert

Commodities

Oil moves up on trade deal optimism to settle higher for the week

Oil futures climb on Friday to tally a gain for the week, with optimism over phase one of a potential U.S.-China trade deal lifting prospects for energy demand, even as traders weigh a conflicting outlook for crude supplies. 3:13 p.m. Today

Oil futures settle higher to tally a 0.8% gain for the week

Oil futures rose on Friday to notch a gain of 0.8% for the week, with optimism surrounding a potential phase one of a U.S.-China trade deal offering support for prices, even as some signs point to a more ample supply outlook. Weekly data from Baker Hughes, meanwhile, revealed a fourth straight decline in the number of active U.S. oil drilling rigs, implying a slowdown in production activity. December West Texas Intermediate oil rose 95 cents, or 1.7%, to settle at $57.72 a barrel on the New York Mercantile Exchange. 2:44 p.m. Today

Gold futures fall for the session, gain 0.4% for the week

Gold futures declined on Friday, as optimism that phase one of a U.S.-China trade deal will soon be reached, and strength in the U.S. stock market dulled haven demand for the metal. For the week, however, gold tacked on 0.4%. "Despite this recent bout of counterintuitive losses, gold looks strong both technically and, more importantly, from a fundamental point of view," said Mark O'Byrne, research director at GoldCore. "From a technical point of view, gold looks very bullish with a series of higher lows and higher highs and with the long term moving averages looking good," he said. "From a fundamental point of view, global demand is strong as seen with central bank becoming net buyers and strong retail investment demand as seen in very robust demand for gold [exchange-traded funds]." December gold lost $4.90, or 0.3%, to settle at $1,468.50 an ounce. 1:47 p.m. Today

Commodities Headlines

Baker Hughes data show a fourth consecutive weekly decline in the U.S. oil-rig count

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 10 to 674 this week. That followed declines in each of the last three weeks. The total active U.S. rig count, meanwhile, also fell by 11 to 806, according to Baker Hughes. Oil prices continued their climb, with December West Texas Intermediate crude was up 97 cents, or 1.7%, at $57.74 a barrel-little changed from before the rig data.

1:09 p.m. Today
 - iStockphoto
Why farm bankruptcies have climbed, even with milk and cheese prices up 40% this year

After suffering significant declines over the past few years, prices for milk and cheese are trading roughly 40% higher this year, but the rally didn’t come fast enough for dairy farmers, who have seen a spike in bankruptcy filings.

12:09 p.m. Today
IEA boosts estimate for 2020 non-OPEC oil supply

OPEC's monthly report lowered its non-OPEC production growth estimate for 2020. "IEA Raises Forecast for Non-OPEC Oil Supply Growth in 2020," at 0900 GMT, misstated that OPEC raised its non-OPEC production growth estimate in the fifth paragraph. OPEC lowered its estimate for non-OPEC production growth, it didn't raise it.

7:50 a.m. Today
Noble Energy sells onshore midstream assets to Noble Midstream, eliminates IDR in a deal valued at $1.6 billion

Noble Energy Inc. said Friday that a review of its midstream strategy concluded with the sale of essentially all of the oil and natural gas company's U.S. onshore midstream interests and assets to Noble Midstream Partners L.P. , and the elimination of its Incentive Distribution Rights (IDRs) for a value of $1.6 billion. The consideration includes $670 million in cash and 38.5 million of newly issued common shares of Noble Midstream, valued at $930 million. After the deal closes, Noble Energy will own 63% of the outstanding shares of Noble Midstream. Noble Energy's stock edged up 0.4% in premarket trading. It has rallied 14.7% year to date through Thursday while Noble Midstream shares have tumbled 22.7% and the S&P 500 has climbed 23.5%.

7:31 a.m. Today
 - Bloomberg
Oil prices finish lower as domestic crude and gasoline supplies post weekly rise

Oil futures finish lower on Thursday after a U.S. government report revealed that domestic crude inventories rose for a third straight week and gasoline supplies logged their first rise in seven weeks.

3:11 p.m. Nov. 14, 2019
EIA reports weekly increases in U.S. crude-oil and gasoline supplies

The Energy Information Administration on Thursday reported that U.S. crude supplies rose by 2.2 million barrels for the week ended Nov. 8. Data were released a day later than usual because of Monday's Veterans Day holiday. Crude supplies were forecast to increase by 1 million barrels, according to analysts polled by S&P Global Platts. The American Petroleum Institute on Wednesday reported a decline of 541,000 barrels, according to sources. The EIA data also showed a supply increase of 1.9 million barrels for gasoline, but distillate stocks fell by 2.5 million barrels. The S&P Global Platts survey showed expectations for supply decreases of 1.7 million barrels for gasoline and 1.6 million barrels for distillates. Oil prices pared earlier gains, with December West Texas Intermediate crude up 13 cents, or 0.2%, to $57.25 a barrel on the New York Mercantile Exchange, down from $57.62 before the supply data.

11:05 a.m. Nov. 14, 2019
USTR confirms China ends its ban on American poultry

Trump administration officials on Thursday confirmed China has ended a ban on American chicken, paving the way for the U.S. to export more than $1 billion in poultry and poultry parts to the Asian country. "China is an important export market for America's poultry farmers, and we estimate they will now be able to export more than $1 billion worth of poultry and poultry products each year to China," said United States Trade Rep. Robert Lighthizer in a statement . Chinese officials had said last month that there had been a deal to end the ban.

10:43 a.m. Nov. 14, 2019
EIA reports a slightly smaller-than-expected weekly increase in U.S. natural-gas supplies

The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 3 billion cubic feet for the week ended Nov. 8. Analysts expected a build of 7 billion cubic feet, on average, by analysts polled by S&P Global Platts. Total stocks now stand at 3.732 trillion cubic feet, up 491 billion cubic feet from a year ago and 2 billion cubic feet above the five-year average, the government said. December natural gas traded at $2.651 per million British thermal units, up 5.1 cents, or 2%, from Wednesday's settlement. It was trading at $2.669 before the data.

10:35 a.m. Nov. 14, 2019

Video

Here's how much speedy delivery really costs

  • Here's how much speedy delivery really costs Here's how much speedy delivery really costs 4:17
    Ransomware against U.S. cities is on the rise. Here's what it costs Ransomware against U.S. cities is on the rise. Here's what it costs 2:53
    People will send $746 billion home in 2020. What investors should know People will send $746 billion home in 2020. What investors should know 2:44
    How artificial intelligence is helping small businesses receive loans How artificial intelligence is helping small businesses receive loans 2:48
  • 3 unexpected industries getting disrupted by robots 3 unexpected industries getting disrupted by robots 2:59
    Why the future of cybersecurity is cloud-based Why the future of cybersecurity is cloud-based 2:52
    Why over $4 billion in VC funds poured into insurance tech last year Why over $4 billion in VC funds poured into insurance tech last year 2:50
    Can carpooling help reduce U.S. traffic jams? Can carpooling help reduce U.S. traffic jams? 2:15
  • An unexpected victim of the trade war: the home-improvement industry An unexpected victim of the trade war: the home-improvement industry 2:30
    How AI is helping to diagnose and treat mental health conditions How AI is helping to diagnose and treat mental health conditions 2:47
Link to MarketWatch's Slice.