-- BSF Capital on Thursday downgraded base oil producer Saudi Aramco Base Oil Co. (SASE:2223), d/b/a Luberef, to hold from buy and raised its price target to 115.00 Saudi riyals from 107.00 riyals.
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GE Vernova (GEV) has an average rating of overweight and mean price target of $964.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $1109.28, Change: $+117.98, Percent Change: +11.90%
Blackstone's (BX) private credit fund launched an $850 million investment-grade bond sale, Bloomberg reported Wednesday.The five-year note is expected to yield 2.3 percentage points above US Treasuries, Bloomberg reported, citing a person familiar with the matter.Blackstone didn't immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $130.01, Change: $+1.51, Percent Change: +1.18%
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1%.The Philadelphia Oil Service Sector Index was climbing 1.3%, and the Dow Jones US Utilities Index was up 0.2%.Crude prices rose Wednesday as Iran said it seized two container ships in the Strait of Hormuz, indicating heightened tensions even as President Donald Trump extended a ceasefire with Tehran. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly announced the seizure of two tankers attempting to cross the Strait of Hormuz, a key oil chokepoint. Trump extended a two-week ceasefire deal with Tehran late Tuesday, though he said the naval blockade of Iranian ports would continue.Front-month West Texas Intermediate crude oil was rising 3.9% to $93.12 a barrel, and the global benchmark Brent crude contract was advancing 3.5% to $101.88 a barrel. Henry Hub natural gas futures rose 1.1% to $2.73 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 2.2 million barrels in the week ended April 17 following a decrease of 5.1 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 1.9 million barrels after a 900,000-barrel decline in the previous week, compared with the 2-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, GE Vernova (GEV) shares jumped past 12% after it reported Wednesday a year-over-year jump in Q1 earnings and revenue, and raised its annual revenue forecast.Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg reported. Exxon shares added 0.4%.The US Supreme Court on Wednesday rejected Enbridge's (ENB) motion to move a lawsuit seeking to halt the company's operation of the Line 5 pipeline from Michigan state court to federal court. Enbridge shares were down 0.3%.