Oil producers anticipate robust earnings for the March quarter due to soaring crude prices. Conversely, fuel retailers and city gas firms face weaker results. Higher crude oil prices boost producer profits. Stable fuel prices pressure marketing margins for companies like IOCL, BPCL, and HPCL. Gas utilities grapple with supply disruptions and higher LNG costs.
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher following a weaker-than-expected jobs report which eased rate hike expectations. Nonfarm payrolls rose by only 29,000, significantly below economists’ forecasts of