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Stock impact report

Peak oil demand not on the horizon, OPEC says in outlook to 2050 [Seeking Alpha]

StoneX Group Inc. (SNEX) 
Company Research Source: Seeking Alpha
"The Chinese government's announcement of its largest stimulus package since the pandemic, combined with the sudden rise of geopolitical tension in the Middle East... has dealt a blow to the bearish sentiment that dominated the oil markets in the past three weeks," Rystad Energy's Claudio Galimberti said. China's stimulus effort is expected to reinvigorate Chinese consumer sentiment, "however, there is skepticism by many analysts that this may not boost internal demand enough to boost crude prices, but instead provide a stronger floor for oil," Alex Hodes of StoneX said. Tropical Storm Helene, which is projected to reach the northeastern U.S. Gulf coast as a major hurricane late Thursday, also supported prices; the Bureau of Safety and Environmental Enforcement said 284K bbl/day of oil were shut in so far due to platform evacuations in the Gulf of Mexico. Front-month November crude on Nymex ( CL1:COM ) and Brent ( CO1:COM ) both closed to $71.56/bbl and $75.17/bbl, respectively Show less Read more
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