Microsoft shares fall in premarket trading following results. Oil refining margins rise due to outages. Gas prices keep gaining. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Data from an advertising research firm showed top advertisers slashed their spending by 71%.Posted by Ken MartinMorning reports will come from telecommunications giant AT&T, andHealth care will also be in focus with insurer Elevance Health and equipment maker Abbott Labs reporting ahead of the opening bell.And we’ll hear from another Dow member, computer services giant IBM. Price at the pump keeps risingThe nationwide price for a gallon of gasoline gained on Wednesday to $3.
One week ago, a gallon of gasoline cost $3.359. A month ago, that same gallon of gasoline cost $3.102.$5.00 per gallon to $4.662, but that is still a far from the $3.678 of a year ago.Crude oil prices inched lower on Wednesday adding to recent declines due to economic concerns.Brent crude traded around $86.00 per barrel after falling 2.3% in the prior session.
Analysts from the Bank of America Securities said the reopening of the Chinese economy after years of tough COVID restrictions could unleash a large wave of pent-up demand over the next 18 months, according to Reuters. An OPEC+ panel is likely to endorse the producer group's current oil output policy when it meets next week. OPEC+ in October decided to trim output by 2 million barrels per day from November through 2023 on a weaker economic outlook.
by about 3.4 million barrels in the week ended Jan. 20, according to market sources citing American Petroleum Institute figures. That was triple the forecast in a preliminary Reuters poll on Monday.Posted by Ken Martin
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