Oil major BP earnings Q2 2022

A BP gas station in Madrid, Spain. Sopa Images | Lightrocket | Getty Images LONDON — UK oil giant BP on Tuesday reported bumper second-quarter profits, benefiting from a surge in commodity prices. The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $8.5 billion. That compared … Read more

Energy companies expect record profits again as strained supplies lift oil and gas prices

Energy industry earnings likely more than tripled in the second quarter, as companies hauled in record revenue due to high oil and gas prices. “This quarter is going to be a blowout,” said Stewart Glickman, energy analyst at CFRA. The two biggest US energy companies, Exxon Mobil and Chevron, are reporting on Friday. Analysts say … Read more

Big week for earnings, monetary policy

LONDON — European markets are set to pull back on Monday as investors brace for a big week of corporate earnings and a key monetary policy decision from the US Federal Reserve. Britain’s FTSE 100 is seen around 29 points lower at 7,247, Germany’s DAX is expected to shed around 83 points to 13,171 and … Read more

Markets face crucial summer week, with Fed, earnings and economic data

A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022. Brendan McDermid | Reuters There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting. The two largest US companies — Microsoft and Apple — … Read more

How to invest in energy stocks, oil companies: Morningstar strategist

Crude prices have broadly surged over the past year on the back of supply cuts and the Russia-Ukraine war; unsurprisingly, this has given oil stocks a major boost. But some of these companies are starting to look expensive, according to David Sekera, Morningstar’s chief US market strategist, who said there’s another corner of the sector … Read more

Shell to build ‘Europe’s largest renewable hydrogen plant’

On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking to lay down a marker in the sector. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands will … Read more

Dan Yergin on oil prices falling despite tight supply, Russia tensions

Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s war in Ukraine. Oil prices had been increasing since last year, spiking to highs after Russia launched an unprovoked war on Ukraine. But since the end … Read more

Stocks with strong balance sheets and attractive returns

European companies have never been richer, according to Morgan Stanley, and are ready to splash the cash – including distributing part of it to shareholders. The Wall Street bank has named a raft of stocks that have strong balance sheets and resilient cash flows and are set to return excess cash to shareholders through buybacks … Read more