The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
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 yellow metal reached the highest levels in 6 years amid the global risk aversion.
The yellow metal could not stay for a long time near the $1,401 level.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.