Pre. Settlement | N/A |
Settlement date | 2024-05-14 |
Open | 546.50 |
Bid | 561.50 |
Last price | 560.25 |
Day's range | 544.50 - 568.50 |
Volume | |
Ask | 561.50 |
Saudi Aramco's second-quarter profits fell by almost 40% as a result of weaker oil prices. Yahoo Finance Markets Reporter Jared Blikre notes that the company remains highly profitable despite the loss, noting that the company had a net income of $30 billion last quarter, which Blikre describes as a "stabilization level."Wheat prices rose after a Ukrainian drone attacked a Russian ship in the Black Sea. Tensions in the area have risen after Russia backed out of a grain deal with Ukraine. Blikre checks wheat prices and explains why there isn't "too much concern on the geopolitical front."
A look at how oil prices, precious metals and wheat futures are performing this week.
Wheat prices have risen after Russia announced it was withdrawing from a 2022 deal that allowed Ukraine to export grain out of its ports on the Black Sea. Yahoo Finance Senior Columnist Rick Newman explains that this move buy Russia is economically strategic, in that it will eliminate Ukraine as a competitor in the wheat market which allows them to sell Russian wheat at higher prices. Newman also reminded viewers that the war "can blow up at any time in ways that affect global markets."