$SPR
Spirit Aerosystems Holdings Inc
PRICE
$32.02 โผ-1.568%
Extented Hours
VOLUME
5,033,131
DAY RANGE
31.62 - 32.64
52 WEEK
14.65 - 36.34
Join Discuss about SPR with like-minded investors
@trademaster #TradeHouses
By Paul Carsten LONDON (Reuters) -Oil prices were steady on Monday as worries persisted around crude oversupply despite OPEC+ cuts and softer fuel demand growth next year. Brent crude futures dipped 6 cents to $75.78 a barrel by 1427 GMT. U.S. West Texas Intermediate crude futures were down 7 cents at $71.16. Both contracts jumped more than 2% on Friday but were down for a seventh straight week, their longest streak of weekly declines since 2018, on lingering oversupply concerns. "There is little doubt that the oil complex remains in a state of vulnerability," oil broker PVM's John Evans said in a note on Monday. Despite a pledge by the OPEC+ group, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, to cut 2.2 million barrels per day (bpd) of crude oil production in the first quarter, investors remain sceptical about compliance. Output growth in non-OPEC countries is expected to lead to excess supply next year. RBC Capital Markets expects stock draws of 700,000 bpd in the first half, but only 140,000 bpd for the full year. "Prices will remain volatile and directionless until the market sees clear data points pertaining to the voluntary output cuts," RBC analysts said in a note. With cuts not implemented until next month, oil faces a volatile two months before clarity from any quantifiable compliance data, the analysts said. The latest consumer price index data from China, the world's biggest oil importer, showed rising deflationary pressures as weak domestic demand cast doubt over the country's economic recovery. Chinese officials on Friday pledged to spur domestic demand and consolidate and enhance the economic recovery in 2024. This week investors are watching for guidance on interest rate policies from meetings at five central banks, including the U.S. Federal Reserve, as well as U.S. inflation data to assess the potential impact on the global economy and oil demand. Recent price weakness drew demand from the United States, which has sought up to 3 million barrels of crude for the Strategic Petroleum Reserve (SPR) in March 2024. "We know the Biden Administration is in the market looking to refill the SPR, which will provide support," IG analyst Tony Sycamore said in a note, adding that prices were also being supported by technical chart indicators. Meanwhile, a draft of a potential climate deal at the COP28 summit on Monday suggested a range of options countries could take to reduce greenhouse gas emissions, but omitted the "phase out" of fossil fuels many nations have demanded. U.N. Secretary General Antonio Guterres said a central benchmark of success for COP28 would be whether it yielded a deal to phase out coal, oil and gas use fast enough to avert disastrous climate change.
96 Replies 9 ๐ 6 ๐ฅ
@dros #droscrew
$MARA Nov10 10 C $COIN Nov10 100 C $RBLX Nov 45 C $CCJ Nov10 42 C $SLM Dec 16 C $BABA Nov10 86 C $SPR Dec 24 C $GRAB Jan 3.5 C $PLTR Nov 20 C $VRTX Dec 11 C $BUD Nov 60 P $ARM Dec 43.5 P $ARM Dec 43 P $AMLX Jan 12.5 P $F Jan 10 P $Z Nov 35 P $SIRI Dec 4 P $PLUG Nov10 5 P $FANG Nov 150 P $ABT Nov10 93 P $PINS Nov10 31.5 P
109 Replies 10 ๐ 11 ๐ฅ
@dros #droscrew
$MARA Nov10 10 C $COIN Nov10 100 C $RBLX Nov 45 C $CCJ Nov10 42 C $SLM Dec 16 C $BABA Nov10 86 C $SPR Dec 24 C $GRAB Jan 3.5 C $PLTR Nov 20 C $VRTX Dec 11 C $BUD Nov 60 P $ARM Dec 43.5 P $ARM Dec 43 P $AMLX Jan 12.5 P $F Jan 10 P $Z Nov 35 P $SIRI Dec 4 P $PLUG Nov10 5 P $FANG Nov 150 P $ABT Nov10 93 P $PINS Nov10 31.5 P
62 Replies 6 ๐ 7 ๐ฅ
@trademaster #TradeHouses
Investing.com -- Oil prices rose Friday, on track for a positive week, boosted by the news that the U.S. was looking to refill its strategic reserves as well as heightened fears that the Israel-Gaza crisis may spread in the Middle East, potentially disrupting supply. By 09:05 ET (13.05 GMT), the U.S. crude futures traded 0.9% higher at $89.22 a barrel, while the Brent contract climbed 0.9% to $93.25. Both benchmarks are on course for weekly gains for the second week in a row, with the U.S. contract set for 2% gains and Brent up 2.8% higher. U.S. to refill strategic reserve The oil market received a boost with the news that U.S. President Joe Biden has revived his bid to refill the heavily-drawn Strategic Petroleum Reserve. The Department of Energy announced on Thursday two separate offers of crude purchases totaling 6 million barrels, to be delivered between December this year and January 2024. The U.S. government had drawn about 200 million barrels from the SPR since early-2022, bringing the reserve to its lowest level in nearly 40 years in a bid to combat high gasoline prices following the onset of the Russia-Ukraine war. Middle East conflict escalation concerns remain Crude prices have been supported through the week by the ongoing Israel-Hamas conflict. Israel has vowed to wipe out the Hamas group that rules Gaza, after its gunmen killed hundreds of Israeli civilians earlier this month, and has pounded the enclave with air strikes, preparing for a ground assault. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. A barrel of Brent now costs $93 again. So far, however, the supply situation on the market has not changed," analysts at Commerzbank (ETR:CBKG) wrote in a note. Concerns remain that the conflict could spread further in the volatile region, especially after the Pentagon said U.S. forces intercepted three cruise missiles and several drones launched by the Houthi movement in Yemen, potentially toward Israel. The Houthi, like Hamas in Gaza and Lebanon's Hezbollah, are backed by Iran. U.S. economy remains resilient - Powell Oil markets also took some support from comments by Federal Reserve Chair Jerome Powell, who said that the U.S. economy remained resilient, spurring bets that fuel consumption in the country will remain strong. This was backed up by another larger-than-expected inventory draw from the U.S., the world's biggest oil consumer. Oil markets were also encouraged by data earlier this week showing better-than-expected economic growth in China, the worldโs largest crude importer. โOil numbers were also supportive with refineries in China processing a record 15.5MMbbls/d of crude oil over the September,โ said analysts at ING, in a note. โIn addition, domestic demand remains robust, coming in at around 15.2MMbbls/d, up 3% MoM and 5% higher YoY. Given these stronger numbers, domestic crude oil inventories fell at a rate of around 200Mbbls/d last month.โ (Ambar Warrick contributed to this article.)
138 Replies 11 ๐ 13 ๐ฅ
@trademaster #TradeHouses
Oil prices surge on SPR refill plans, Middle East concerns
65 Replies 12 ๐ 12 ๐ฅ
@danbrey #ivtrades
SPR Nov 16/15 Bear Put is doing ok. You should make money on the 16 PUT.
138 Replies 14 ๐ 8 ๐ฅ
@agerdctz #decarolis
Quindi tutte le storie di Biden per abbassare il prezzo del petrolio e l'utilizzo delle SPR sono solo argomenti elettorali ?
137 Replies 14 ๐ 12 ๐ฅ
Key Metrics
Market Cap
3.78 B
Beta
0
Avg. Volume
4.60 M
Shares Outstanding
116.23 M
Yield
0%
Public Float
0
Next Earnings Date
2024-05-01
Next Dividend Date
Company Information
spirit aerosystems, with headquarters in wichita, kan., usa, is one of the world's largest non-oem designers and manufacturers of aerostructures for commercial aircraft. in addition to its wichita facilities, spirit has locations in tulsa and mcalester, okla.; kinston, n.c.; prestwick, scotland; preston, england; subang, malaysia; and saint-nazaire, france. in the u.s., spirit's core products include fuselages, pylons, nacelles and wing components. additionally, spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in north america, europe and asia. spirit europe produces wing components for a host of customers, including airbus.
Website: spiritaero.com
HQ: ,
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