During Monday’s Morning trade, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), gained 0.64% to $9.46, despite oil prices fell below $63 a barrel on Monday, weighed down by concerns of a growing supply glut, paring earlier gains spurred by hopes that Greece might avert a default.
Oil prices retreated shortly after the opening of trading in New York, highlighting the pressure on the market from a crude oil supply overhang, particularly in the Atlantic basin, according to Reuters.
Brent crude for August delivery was down 32 cents at $62.70 a barrel by 9.20 a.m. EDT, after hitting a session high of $63.74 a barrel. Reuters Reports.
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Shares of Delta Air Lines, Inc. (NYSE:DAL), inclined 2% to $42.83, during its current trading session, following a report by Barron’s released over the weekend stating shares of the U.S.’s top four carries could rise 15% to 50% in a year.
American Airlines, United Continental, and Southwest (LUV) were the other airliners mentioned in the Barron’s article.
Lower fuel costs and a lack of competition is what led to the publication’s forecast.
At the end of June 2014, preceding to the drop in oil prices, Wall Street had estimated that the four carriers would grow their combined EBITDA by 7% to $22.7 billion. The current forecast is for a growth of 40% to $29.2 billion, Barron’s said.
Delta Air Lines, Inc. provides planned air transportation for passengers and cargo worldwide. The company operates in two segments, Airline and Refinery. Its route network comprises various gateway airports in Amsterdam, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle, and Tokyo-Narita.
Finally, Duke Energy Corporation (NYSE:DUK), gained 0.29%, and is now trading at $73.41.
Duke Energy Progress’ North Carolina customers will see greater savings on their energy costs in 2016 if the company’s annual filings receive approval from the North Carolina Utilities Commission (NCUC).
Electric rates would decrease about 3.4 percent for residential customers, 2.6 percent for commercial customers and 1.8 percent for industrial customer bills – putting more money back into customers’ pockets.
Multiple factors drive customer savings
On June 17, 2015, Duke Energy Progress made its annual filings with the NCUC for costs associated with fuel, compliance with the state’s renewable energy portfolio standard (REPS), implementation of energy efficiency (EE), and demand-side administration (DSM) programs.
The total monthly impact of all rate changes (fuel, REPS, DSM, EE) for a typical residential customer using 1,000 kilowatt hours (kWh) per month would be a decrease of $3.32.
If approved, as of Jan. 1, 2016, the charge for a typical residential customer using 1,000 kWh of electricity would decrease from $111.38 to $108.06 per month.
Duke Energy Corporation, together with its auxiliaries, operates as an energy company in the United States and Latin America. It operates through three segments: Regulated Utilities, International Energy, and Commercial Power. The Regulated Utilities segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, Ohio, Kentucky, and Indiana; and transports and sells natural gas in southwestern Ohio and northern Kentucky.
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