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U.S. energy company Sampra Energy said that if the project is approved and built, it will export up to 27 million metric tons of liquefied natural gas, with exports expected to begin in the second half of 2034.Regulatory filings show that U.S. energy company Sampra Energy has initiated the process of building a new liquefied natural gas (LNG) plant in southeastern Texas. The company plans to build a four-line LNG plant as an expansion of its existing LNG export facilities.Japans purchases of foreign stocks in the week ending August 21 were -869 billion yen, compared to 1,391.3 billion yen in the previous week.Foreign investors net outflowed ¥764.1 billion from Japanese stocks in the week ending August 21, compared with a revised ¥622.4 billion in the previous week (originally ¥621.2 billion).On August 27th, after the close of trading on Wednesday, Nvidia (NVDA.O) investors experienced a rollercoaster ride: after releasing its quarterly earnings report, the companys stock price initially fell before rebounding sharply. Nvidias second-quarter results easily exceeded market expectations, and the company raised its third-quarter earnings forecast. Investors bullish on the company saw this as another boost to the AI investment theme. However, after a long period of gains in tech stocks, the results initially seemed insufficient to excite the market. However, as the earnings call unfolded, market sentiment improved significantly. Nvidia CEO Jensen Huang and other executives stated that the company expects revenue to grow by 70% in fiscal year 2028 and further elaborated on their previous view that AI has reached an inflection point. Nvidias stock price subsequently rose by nearly 5%. Analysts pointed out: "Currently, Nvidias stock price fluctuations are within market expectations. The challenge for the company is no longer simply delivering good results, but rather delivering results that are even better than what investors expect. In this situation, exceeding Wall Street expectations is almost just an entry ticket."

Oil Prices Fall as 'Imminent' Iran Nuclear Deal Becomes Visible

Haiden Holmes

Aug 22, 2022 10:52

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On Monday, oil prices dropped significantly on reports that Iran and Western nations were close to an agreement that would ease sanctions on the country's petroleum exports.


West Texas Intermediate futures, the U.S. crude benchmark, fell more than 1% to $89.39 per barrel as of 20:01 ET, while London-traded Brent oil futures down 0.5% to $95.59 per barrel (0002 GMT).


Al Jazeera, a Qatari news outlet, reported over the weekend that a nuclear agreement with Iran was 'imminent,' while other sources indicated that Tehran was prepared to withdraw its demand that the Islamic Revolutionary Guard Corps be removed from the State Department's List of Foreign Terrorist Organizations.


Iran's desire for the corps was a major obstacle to the accord and had impeded EU-mediated negotiations with the United States to this point.


Al Jazeera said that the conclusion of an agreement will result in sanctions against 17 Iranian banks and 150 economic organizations being eased. In addition, Tehran will be authorized to export 50 million barrels of oil per day four months after the signing of the pact.


It is estimated that the decision will instantly release more than 1 million barrels of oil per day onto the market, which will have a negative effect on oil prices.


Nonetheless, this increase in supply may push the Organization of the Petroleum Exporting Countries to implement measures to restrict output. Oil prices surged late in the previous week due to speculation over supply restrictions, but they concluded the week in the red.


In recent weeks, oil prices dropped to six-month lows as speculators feared a demand deficit caused by a worldwide economic slowdown and recession. Indicators of economic stress in the world's largest oil importer, China, have been of particular concern to oil markets. This year, Beijing's zero-COVID plan has led to a succession of COVID lockdowns that have crippled the Chinese economy.


Nonetheless, statistics from the previous week's U.S. oil inventories indicated that demand in the world's largest economy was recovering from a downturn. Nonetheless, a further tightening of monetary conditions by the Federal Reserve could threaten this recovery.

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