TOP NEWS Martin Marietta Hits Record RevenuesMartin Marietta Materials Inc. reported results for the first quarter ended March 31. The company is reporting record first-quarter consolidated revenues of $1.147.8 billion compared to $921.9 million in last year’s first quarter, a 24.5% increase. Vulcan Reports Strong QuarterVulcan Materials Co. announced results for the quarter ended March 31. Total revenues increased 44%…
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This Week’s Market Buzz
• Oil prices continue to rise. At press time West Texas Intermediate was at $110.6 up 4.43%, while Brent Crude was at $111.6, up 4.19%.
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• Oil prices dipped at press time, as Brent crude fell $5.40, or 6.5%, to $76.82 a barrel and U.S. West Texas Intermediate (WTI) crude was down $5.82, or 7.4%, at $72.57 a barrel, after the Thanksgiving holiday.
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· Oil prices fell to a two-week low at press time as China rolled out a plan to release state oil reserves, the U.S. weekly crude draw was smaller than expected and U.S. Treasuries rallied as investors sought safer assets. In volatile trade, Brent futures fell $1.15, or 1.6%, to settle at $71.45 a barrel. U.S. West Texas Intermediate (WTI)…
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• Oil prices jumped 3% at press time, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant. Brent crude climbed $2.59, or 3.9%, to $67.75 a barrel after touching its lowest since May 21 at $64.60. U.S. West Texas Intermediate (WTI) crude for October…
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• Oil prices slid at press time, building on last week’s steep losses, as rising Covid cases prompted fears of a demand slowdown. West Texas Intermediate crude futures declined 2.5% to trade at $66.60 per barrel. International benchmark Brent crude declined 2.2% to $69.15 per barrel.
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Oil prices edged up at press time, putting both benchmarks on track for a fifth consecutive week of gains on expectations demand growth will outstrip supply and OPEC+ producers will be cautious in returning more crude to the market from August. Brent futures rose 32 cents, or 0.4%, to $75.88 a barrel, while U.S. West Texas Intermediate (WTI) crude rose…
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• Oil futures ended lower at press time, pulling back after four-consecutive sessions of gains lifted prices to their highest levels in weeks. Tensions in Iraq and uncertainty surrounding Iran’s nuclear deal have raised the risk to global crude supplies as expectations for stronger oil demand boosted prospects for a more balanced market. November West Texas Intermediate settled at $51.29…
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• U.S. crude stockpiles have been rising for seven consecutive weeks, and forecasts of an eighth build of 2.9 million barrels last week fueled worries that demand growth may not be sufficient to soak up the global crude oil glut. U.S. benchmark West Texas Intermediate crude was holding at $54.01 a barrel. Benchmarks Brent crude oil was at $55.56 a…
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• Oil prices rose on February 23 after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. Benchmark Brent crude oil was up $1.05 a barrel, or 1.9 percent, at $56.89, recovering from a drop of 82 cents. U.S. light crude rose $1, or 1.9 percent…
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