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S&P: As a major net exporter of crude oil and an emerging producer of refined products, Nigeria has been less affected by the Middle East conflict.The Dow Jones Industrial Average closed down 537.35 points, or 1.07%, at 49,526.11 on Friday, May 15; the S&P 500 closed down 92.74 points, or 1.24%, at 7,408.50; and the Nasdaq Composite closed down 410.08 points, or 1.54%, at 26,225.14.Fitch affirmed Rio Tintos rating at A with a stable outlook.On May 16th, according to US media reports, the Trump administration plans to streamline the licensing process for oil projects within the Alaska National Petroleum Reserve to boost crude oil production in the US Arctic. The Department of the Interiors move aims to establish a new licensing framework for the construction and operation of oil production facilities and related infrastructure. Under this plan, eligible projects could receive analysis and authorization more quickly, perhaps in as little as 30 days. This measure could benefit companies holding leases within the reserve, such as ConocoPhillips, Santos, and Repsol, and expedite government scrutiny of projects like ConocoPhillips Willow (which has drawn strong opposition from climate activists). During the Iran-Iraq War, with approximately 20% of global supplies tied up in the Persian Gulf, the Trump administration has intensified its calls for US oil companies to increase production.Canadian Prime Minister Carney: I think the new crude oil pipeline from Alberta to the Pacific coast will attract a lot of attention.

At market closing, Israeli stocks are higher; the TA 35 is up 0.08%

Haiden Holmes

Sep 05, 2022 11:44

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After the market closed on Sunday, the Oil & Gas, Banking, and Financials sectors pushed the Israeli stock market higher.


At the closing bell in Tel Aviv, the TA 35 gained 0.08 percent.


Delek Group (TASE:DLEKG) had the best performance on the TA 35 during the session, gaining 3.64 percent, or 2,050.00 points, to finish at 58,400.00. Phoenix Holdings Ltd (TASE:PHOE1) jumped 1.98 percent, or 77.00 points, to $3,970.00 at the close of trade, while Teva Pharmaceutical Industries Ltd (TASE:TEVA) advanced 1.96 percent, or 57.00 points, to $2,970.00.


Airport City Ltd (TASE:ARPT) had the worst performance throughout the session, declining 1.75 percent, or 121 points, to close at 6,780.00. Bezeq Israeli Telecommunication Corp Ltd (TASE:BEZQ) declined 1.61 percent, or 9.20 points, to 564.00 at the end of trading, while Elbit Systems Ltd (TASE:ESLT) down 1.52 percent, or 1,060.00 points, to 68,860.00.


On the Tel Aviv Stock Exchange, falling stocks outnumbered rising ones by a ratio of 262 to 194, with 51 remaining constant.


The cost of a barrel of crude oil for delivery in October climbed by 0.74 percent, or $0.64, to $87.25 a barrel. Brent oil for November delivery jumped by 1.00%, or $0.92, to $93.28 per barrel, while the December Gold Futures contract increased by 0.78%, or $13.30, to $1,722.60 per troy ounce.


The USD/ILS exchange rate remained unchanged at 3.38, while EUR/ILS held steady at 3.36.


Futures for the US Dollar Index decreased 0.09 percent to 109.57.