Energy prices are bouncing along with stocks, gold, and silver. Treasuries and the dollar are hugging the flatline in early trading.
Oil prices are partially reversing yesterday’s retreat after Israel claimed to assassinate key Iranian leaders. Meanwhile, drone and other strikes were reported at the US embassy in Baghdad, an Iraqi oil field, a tanker anchored off the coast of the United Arab Emirates, and the UAE’s Shah gas field.
US Diesel Price (3-Year Chart, as of March 9)
Data by YCharts
In the most noteworthy energy market development, US diesel prices topped $5 a gallon for the first time in more than three years. The fuel is more closely tied to Persian Gulf problems than other refined products because a large amount of it is produced there. Since diesel is a key fuel used in transportation and logistics, the price spike could ripple through the global economy.
Companies in the AI ecosystem continue to raise – and spend – vast amounts of capital. In the last 24 hours, Atlanta-based T5 Data Centers said it would raise $2 billion in equity while Nebius Group NV (NBIS) said it would sell $3.75 billion in convertible debt. The money will help fund data center construction and cloud service expansions.
Finally, could quarterly earnings reports be on the outs? The Securities and Exchange Commission (SEC) is reportedly considering letting companies shift to twice-yearly earnings releases from quarterly ones. Proponents say it would boost the number of publicly traded companies by reducing the cost of reporting, while opponents maintain it’ll leave potential and current investors with less information to base decisions on.
Any proposal would face a public comment period and there is no guarantee it’ll ultimately be implemented. Companies in other advanced markets, like the UK and continental Europe, have been free to report biannually for several years now.
