Oil prices gained for a fourth straight day on Thursday, while equity markets were quiet headed into the Christmas holiday.
A number of major bourses, including those in Germany, Brazil and Norway were closed on Thursday, while several other markets closed early for the Christmas holiday.
The dollar slipped, but the greenback has still had a strong year ahead of next week’s closeout of 2015.
Wall Street dipped modestly, though the Nasdaq eked out a sliver of a gain, on an abbreviated day that ended at 1 p.m. (1800 GMT). The Dow Jones industrial average .DJI fell 0.29 percent to 17,552.17, the S&P 500 .SPX lost 0.16 percent to 2,060.99, and the Nasdaq Composite .IXIC added 0.05 percent to 5,048.49.
Falling supplies and the lifting of a 40-year-old ban on most U.S. crude exports pushed front-month West Texas Intermediate (WTI) crude futures CLc1 up 60 cents, or 1.6 percent, to $38.10 a barrel. They were set for the biggest weekly gain since early October. [O/R]
Internationally traded Brent futures LCOc1 rose 57 cents, or 1.5 percent, to $37.93, but have fallen about 35 percent this year.
Tumbling oil prices have battered energy companies and lowered inflation expectations, pushing down government borrowing costs and reinvigorating bets on further European Central Bank monetary policy easing.
Shares of British oil majors such as BP (BP.L) and Royal Dutch Shell (RDSa.L) climbed around 1 percent, but in the United States, Exxon Mobil (XOM.N) and Chevron (CVX.N) were lower, as energy stocks pulled back from a few days of strength. The sector has been the worst performer among the S&P industries in 2015.
Britain’s blue-chip FTSE 100 index .FTSE rose 0.2 percent, while Spain’s IBEX .IBEX advanced 0.4 percent and France’s CAC .FCHI edged down 0.2 percent.
MSCI’s all-country world stocks index .MIWD00000PUS added 0.2 percent.
The euro EUR= was up 0.5 percent at $1.0961, while the dollar .DXY was down 0.4 percent against an index of major currencies, having risen almost 9 percent this year.
Against the euro, the dollar lost 0.8 percent this week, but is up 11 percent since January in the run-up to the first U.S. Federal Reserve interest rate hike since 2006.
SM Energy Co (NYSE:SM) share price increased in the last trading session with a previous 52-week high of $60.20.The stock traded at a volume of 1,050,798 shares at a price gain of -2.80%.The share price is now down -34.98 % for the past three months. Latest closing price was -31.64 % below its 50-day moving average and -49.27 % below its 200-day moving average.
Suncor Energy Inc. (USA) (NYSE:SU) closed at $26.62, down -0.78% from previous close and at a distance of 0.93% from 20-day simple moving average. Over the last 12 months, a return on equity of 0.20 percent was realized due to the financial situation and earnings per share reached a value of $0.05. Last fiscal year, $0.87 has been paid in form of dividends to investors. Earnings are projected to move up 1.00 percent for the coming five years.
Sanchez Energy Corp (NYSE:SN) Its previous 52-week high was $16.14, trading at a volume of 915,721 Shares have fallen -56.10% over the trailing 6 months. The stock is currently trading -20.34% below its SMA 50 and -48.55% below its SMA 200.