Oil prices eased on Monday, paring some of last week’s 2 percent rally, despite evidence of slowing U.S. production and a fourth weekly improvement in U.S. investor holdings of crude futures, according to Reuters.
High oversupply and concern about demand growth in emerging markets and elsewhere have stripped 50 percent off the value of a barrel of oil over the last year and kept the price below $50 for most of the past nine weeks.
Brent crude futures LCOc1 were down 87 cents at $47.73 a barrel at 1122 GMT (0722 ET), while U.S. crude CLc1 was down 81 cents at $44.89 a barrel. Reuters Reports
On Friday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -4.83% to $7.39.
Chesapeake Energy Corporation is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.
Shares of Celgene Corporation (NASDAQ:CELG), declined -4.82% to $108.39, during its last trading session.
Celgene International Sàrl, a wholly owned partner of Celgene Corporation (CELG) recently declared that that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion for an expanded indication of VIDAZA® (azacitidine for injection) for the treatment of adult patients aged 65 years or older with acute myeloid leukaemia (AML) who are not eligible for haematopoietic stem cell transplantation (HSCT). The expanded indication now covers patients who have >30% myeloblasts according to the WHO classification; formerly, the indication covered AML patients with <30% blasts.
Myeloblasts are white cells in the bone marrow; in AML, their functioning is disrupted and results in numerous non-functioning white cells, which can potentially interfere with the body’s ability to control infections and can lead to anaemia and haemorrhages.
For many patients, AML is typically associated with a poor prognosis and deteriorating quality of life, particularly for those patients who cannot tolerate curative therapies like stem cell transplantation. In Europe, more than 14,000 people suffer from AML, and most of these patients will die within less than 1 year. As an acute leukaemia, AML progresses rapidly and is typically fatal within months if stem cell transplant is not an option. Specific to elderly patients, overall survival with AML has not improved in more than 40 years1, and there is a clear need for treatments that can support this patient population.
Celgene Corporation (Celgene), together with its auxiliaries, is an integrated biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.
Shares of Delta Air Lines, Inc. (NYSE:DAL), inclined 0.32% to $46.06, during its last trading session.
Delta Air Lines is putting its money where its mouth is when it comes to on-time performance and its record of concluding planned flights, according to Los Angeles Times.
The Atlanta-based carrier will give its corporate business travelers credit toward future flights if its competitors — American Airlines and United Airlines — have a better on-time performance and rate of concluding planned domestic flights without a cancellation for a full calendar year.
The credits, which may be expanded to international flights, vary based on the delays and cancellations suffered by businesses with a Delta travel contract.
On Friday, the airline marked 100 straight days of concluding all planned flights without a cancellation, a record for the carrier. During the period, Delta flew nearly 800,000 flights, carrying 113 million passengers. Los Angeles Times Reports
Delta Air Lines, Inc. (Delta) provides planned air transportation for passengers and cargo throughout the United States and around the world. The Company’s route network is centered on a system of hub and international gateway airports that it operates in Amsterdam, Atlanta, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita.
Finally, Cabot Oil & Gas Corporation (NYSE:COG), ended its last trade with -1.24% loss, and closed at $23.82.
Cabot Oil & Gas Corporation will host its third quarter 2015 earnings conference call on Friday, October 23, 2015 at 9:30 a.m. Eastern Time. The Company plans to issue its financial and operating results before the market opening on the same day.
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company’s exploration, development and production operations are primarily concentrated in two plays: the Marcellus Shale in northeast Pennsylvania and the Eagle Ford Shale in south Texas.
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