SECTOR COMMENTARY
SECTOR COMMENTARY
The power sector is poised for a decrease begin, carrying over yesterday’s late-day selloff into this morning’s session on additional weak point within the crude advanced and because the main fairness indices continued to retreat from document highs on a scarcity of readability on U.S.-China commerce relations from President Trump and escalating tensions in Hong Kong. Traders will subsequent flip their consideration to testimony from the Federal Reserve Chair on the state of the home economic system later at this time.
In sector information, Reuters revealed an article that Comstock Sources is in talks to purchase Chesapeake Vitality’s Haynesville shale property in Louisiana, based on two individuals accustomed to the matter. Whereas neither Comstock nor Chesapeake commented on the deal, it might be value greater than $1 billion and sources stated that the businesses have settled on a construction for the deal and hope to achieve an settlement by the top of the 12 months.
WTI crude oil futures continued to slip decrease for the third-straight session and are off ~0.50% in early morning buying and selling, faring higher than Brent which is seeing some steeper declines….