Oil Down on OPEC, China Concerns, As Kemp Sees A Stutter In The Bull Run
by Ship & Bunker News Team
Monday March 1, 2021 But Hess Corp sees fossil fuel demand rising for at least another decade: File Image/PixaBay Even though it wasn t much of a concern to analysts in the recent weeks it became a news topic of debate, the likelihood that the
Organization of the Petroleum Exporting Countries (OPEC) and its allies would soon increase oil output caused a more than
1 percent drop in crude prices on Monday. Trading was also negatively influenced by reports that
China s factory activity growth slipped to a nine-month low in February.
U.S. stocks were mixed after the close on Friday, as gains in the Technology, Consumer Services and Industrials sectors led shares higher while losses in the Oil & Gas, Telecoms and Utilities sectors led shares lower.
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The best performers of the session on the Dow Jones Industrial Average were Apple Inc (NASDAQ:AAPL), which rose 2.37% or 2.87 points to trade at 123.86 at the close. Meanwhile, Microsoft Corporation (NASDAQ:MSFT) added 2.24% or 5.12 points to end at 234.11 and UnitedHealth Group Incorporated (NYSE:UNH) was up 1.61% or 5.29 points to 334.16 in late trade.
U.S. stocks were mixed after the close on Friday, as gains in the Oil & Gas, Industrials and Healthcare sectors led shares higher while losses in the Utilities, Telecoms and Consumer Goods sectors led shares lower.
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The best performers of the session on the Dow Jones Industrial Average were JPMorgan Chase & Co (NYSE:JPM), which rose 1.24% or 1.73 points to trade at 141.00 at the close. Meanwhile, Intel Corporation (NASDAQ:INTC) added 1.30% or 0.79 points to end at 61.45 and Goldman Sachs Group Inc (NYSE:GS) was up 1.04% or 3.13 points to 305.45 in late trade.
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U.S. stocks were lower after the close on Friday, as losses in the Oil & Gas, Utilities and Financials sectors led shares lower.
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The best performers of the session on the Dow Jones Industrial Average were Dow Inc (NYSE:DOW), which rose 3.51% or 1.89 points to trade at 55.72 at the close. Meanwhile, Cisco Systems Inc (NASDAQ:CSCO) added 1.38% or 0.62 points to end at 45.44 and Caterpillar Inc (NYSE:CAT) was up 0.88% or 1.58 points to 180.75 in late trade.
The worst performers of the session were Intel Corporation (NASDAQ:INTC), which fell 6.32% or 3.20 points to trade at 47.45 at the close. Apple Inc (NASDAQ:AAPL) declined 1.55% or 1.99 points to end at 126.71 and Home Depot Inc (NYSE:HD) was down 1.28% or 3.51 points to 270.46.