The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
IPO plans are dusted off by American oilfield service companies
American oilfield service companies are actually gearing up towards initial public offerings. That’s what analysts and regulatory filings informed. It emerged after several shelved equity sales in 2017 during a dismal period for crude prices.
Crude is trading close to its highest peaks since early 2015, thus driving demand for service companies to open fresh shale wells for output . Energy executives polled the previous month told that they would abruptly step up drilling at prices above $60. Oil futures CLC1 have recently hit $61.50 a barrel.
Traders’ appetite for the stocks is going to be tested soon. The previous week Liberty Oilfield Services, providing hydraulic fracturing services to shale producers, raised approximately $160 million by simply selling 10.7 million shares at $15 per share.
If everything OK with its IPO, it could encourage several other companies, enabling to raise funds for another expansion or to purchase counterparts.
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.