Oil Majors Slump as Oil Slides🛢️ AAL AMD📈MRO BKR📉

FlowBank's hand-curated fresh financial news [header_noDither] 9.1.2023 Oil Majors Slump as Oil Slides The stocks of Oil and gas majors fell sharply after oil slid 4% following deeper-than-expected price cuts by top exporter Saudi Arabia and after a rise in OPEC output. Saudi Arabia cut the official selling price to a 27-month low, highlighting a softness in the physical market. EIA inventory data is due today. WHAT'S MOVING [Group 1742 (14)-1] [Start Trading](113/cXx8Z04/MVrDB-v3SwrW7hLb7P2dXv2tW2XSKgS5838GMN2SX23R2-ZVTW6N1vHY6lZ3lPW3LYTXp1Nnbz0N4yM3x-fXhKcW4plHs967KYVHW528DjV6s5N95W8NWQHS2L4Y-wW7hFwtZ3R3WQ0N2n8WDCyKKHQVZ_JH928mFYkW54Rqg11J7_s3W8PdHB76YP5vhW3qXQ4y9bgw2FW3bR1gW7CcP2KW4C5ZF36krzD_W1Qtp601nCWP_W2nWBtx6RjdryW7PJFyM15WRMxW1Ry7h37GF3WjVs5D0Q8wdRjwW6G_Qmp16kf-YN1_7qq3Y0bQxW6p4T2B964yCGW7l3NC28m2pQCf2-Sszn04) [Group 3 (47)-1] Nvidia Nvidia announces 3 new desktop graphic chips which will allow gamers, designers, and other computer users to make better use of AI on PCs. [Group 3 (48)-1] Shell The oil major warned of a $4.5 billion impairment charge in Q4 which relates predominantly to the chemical and product business unit. [Group 3 (49)-1] Coinbase Crypto stocks tracked Bitcoin higher, as the cryptocurrency reached 47k for the first time since April 2022, ahead of the SEC's ETF decision. WHAT'S COMING UP? Ger. Industrial Production Nov: 0.2% m/m Exp. vs -0.4% Prev. US Trade Balance Nov: -$-65bn Exp. vs $-64.3 Prev. IN OTHER NEWS Wall Street The 3 main indices on Wall Street closed higher, with gains in tech lifting the Nasdaq100 2.2%. The Dow Jones even closed higher despite an 8% drop in Boeing. [Group 1769] Europe European markets ended in positive territory on Monday despite eurozone retail sales falling -0.3% MoM. Oil and gas stocks under performed. MARKET INSIGHTS EUR/USD Outlook: 5 Things You Need To Know To Trade The Pair In 2024. In 2023, EUR/USD witnessed a remarkable 3% surge, providing a much-needed positive annual return following two consecutive years of decline in 2021 and 2022. 2024 is poised to be a pivotal year, driven by significant political and economic events that will shape the world's leading exchange rate. [Read more](113/cXx8Z04/MVrDB-v3SwrW7hLb7P2dXv2tW2XSKgS5838GMN2SX23d2-ZVTW5BW0B06lZ3n2W2X5wfR46G7DSW1VzbCc9dqc3BW9l8WZq3SMZF8N3lJ1jzGBS0JW2n1VRR3_ftPHW5H7NKG3H6WrMW8PCM_366JNmHW3F9P6S4lVZ3CW5qm_pq1-4MwbN2ldhRCtVwY8W6zGr1L42BgjqW60wB1W1l9DqZW1QTwq81Kx9f3W4vKmr542hhrpW2kzBYN6Zvc4lW4p899z6ZjclSW8VrD4t1Nmlj6W35rKtM3vhdXkf91ldyl04) Please note that due to market volatility, some of the prices may have already been reached and scenarios played out. The information above is not investment advice. 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