logo
Turkey to Seek New Oil Deal With Iraq on Idled Pipeline

Turkey to Seek New Oil Deal With Iraq on Idled Pipeline

Bloomberg2 days ago
Horizons Middle East and Africa
Turkey will seek a new deal with Iraq on an oil export pipeline between the two countries that's been idled for more than two years in a payment dispute. Bloomberg's Patrick Sykes reports. (Source: Bloomberg)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oil prices climb on US trade optimism, drop in crude stockpiles
Oil prices climb on US trade optimism, drop in crude stockpiles

Yahoo

time15 minutes ago

  • Yahoo

Oil prices climb on US trade optimism, drop in crude stockpiles

By Yuka Obayashi TOKYO (Reuters) -Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures gained 24 cents, or 0.4%, to $68.75 a barrel by 0032 GMT. U.S. West Texas Intermediate crude futures climbed 25 cents, or 0.4%, to $65.50 per barrel. Both benchmarks were little changed on Wednesday as markets monitored developments in U.S.-European Union trade talks, following President Donald Trump's tariff deal with Japan. The agreement lowers duties on auto imports and spares Tokyo from new levies in exchange for a $550 billion package of U.S.-bound investment and loans. "Buying was driven by optimism that progress in tariff negotiations with the U.S. would help avoid a worst-case scenario," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. "Still, uncertainty over U.S.-China trade talks and peace negotiations between Ukraine and Russia is limiting further gains," he added, predicting WTI will likely remain range-bound between $60 and $70. Two European diplomats said on Wednesday that the EU and the U.S. are moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions, potentially paving the way for another major trade agreement following the Japan deal. On the supply side, U.S. Energy Information Administration data showed U.S. crude inventories fell last week by 3.2 million barrels to 419 million barrels, exceeding analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. Geopolitical tensions remained in focus. Russia and Ukraine held peace talks in Istanbul on Wednesday, discussing further prisoner swaps, though the two sides remain far apart on ceasefire terms and a possible meeting of their leaders. Separately, foreign oil tankers were temporarily barred from loading at Russia's main Black Sea ports due to new regulations, two industry sources said on Wednesday, effectively halting exports from Kazakhstan through a consortium partly owned by U.S. energy majors. The U.S. energy secretary said on Tuesday that the U.S. would consider sanctioning Russian oil to end the war in Ukraine. Meanwhile, the EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude.

Exxon Mobil (XOM) Surpasses Market Returns: Some Facts Worth Knowing
Exxon Mobil (XOM) Surpasses Market Returns: Some Facts Worth Knowing

Yahoo

time28 minutes ago

  • Yahoo

Exxon Mobil (XOM) Surpasses Market Returns: Some Facts Worth Knowing

Exxon Mobil (XOM) closed the most recent trading day at $109.85, moving +1.21% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.78%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 0.61%. Heading into today, shares of the oil and natural gas company had gained 0.18% over the past month, outpacing the Oils-Energy sector's loss of 3.19% and lagging the S&P 500's gain of 5.88%. The investment community will be closely monitoring the performance of Exxon Mobil in its forthcoming earnings report. The company is scheduled to release its earnings on August 1, 2025. In that report, analysts expect Exxon Mobil to post earnings of $1.49 per share. This would mark a year-over-year decline of 30.37%. Meanwhile, the latest consensus estimate predicts the revenue to be $82.84 billion, indicating a 10.98% decrease compared to the same quarter of the previous year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.57 per share and a revenue of $334.4 billion, representing changes of -15.66% and -4.34%, respectively, from the prior year. Investors should also take note of any recent adjustments to analyst estimates for Exxon Mobil. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 7.51% higher within the past month. Exxon Mobil is currently sporting a Zacks Rank of #3 (Hold). With respect to valuation, Exxon Mobil is currently being traded at a Forward P/E ratio of 16.53. This valuation marks a premium compared to its industry average Forward P/E of 11.25. It is also worth noting that XOM currently has a PEG ratio of 2.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.99 at yesterday's closing price. The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 24% of all industries, numbering over 250. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Todd Boehly-Backed Accelerant, Holders Raise $724 Million in IPO
Todd Boehly-Backed Accelerant, Holders Raise $724 Million in IPO

Bloomberg

timean hour ago

  • Bloomberg

Todd Boehly-Backed Accelerant, Holders Raise $724 Million in IPO

Accelerant Holdings and some of its backers raised $724 million in an upsized US initial public offering priced above the marketed range, the latest insurance-related listing to meet with strong demand. The specialty insurance marketplace operator and investors including funds affiliated with Altamont Capital Partners enlarged the deal to 34.5 million shares at $21 apiece, according to a statement Wednesday. Bloomberg News reported the expected pricing earlier.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store