By Shariq Khan NEW YORK (Reuters) – Oil prices rose on Friday and were set for a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from U.S. crude inventories last week. Brent crude futures rose 91 cents, or 1.2%, to $74.17 per barrel by 1:58 p.m. EST (1858 GMT). U.S. West Texas Intermediate crude futures rose $1.01, or 1.5%, to $70.63 per barrel. On a weekly basis, both Brent and WTI crude are set to gain about 1.6%. U.S. crude oil inventories fell by 4.2 million barrels in the week ended Dec. 20 as refiners ramped up activity and the holiday season boosted fuel demand, data from the U.S. Energy Information Administration showed on Friday. [EIA/S] Analysts polled by Reuters had expected a 1.9 million-barrel drawdown, whereas figures from the American Petroleum Institute released earlier in the week estimated a 3.2 million-barrel draw, according to market sources. [API/S] Optimism over Chinese economic growth has also sparked hopes of higher demand next year from the top oil importing nation. The World Bank on Thursday raised its forecast for Chinese economic growth in 2024 and 2025. Meanwhile, Chinese authorities have agreed to issue special treasury bonds worth 3 trillion yuan ($411 billion) next year, sources told Reuters this week, as Beijing acts to revive the sluggish economy. The war between Russia and Ukraine, which had become an afterthought in energy markets due to stagnant global oil demand, seems to be returning to the forefront after numerous events this week that could impact supplies next year, fuel distributor TACenergy’s trading desk wrote on Friday. NATO said on Friday it would boost its presence in the Baltic Sea, a day after Finland seized a ship carrying Russian oil on suspicion of causing internet and power cable outages. Meanwhile, Dutch and British wholesale natural gas prices rose amid fading hopes for a new deal to transit Russian gas through Ukraine. Tensions have flared in the Middle East too, after Israel raided a north Gaza hospital on Friday and struck targets linked to the Houthi movement in Yemen on Thursday, but these events are unlikely to effect oil prices much heading into next year, StoneX analyst Alex Hodes said. Instead, the largest risk in the Middle East is from sanctions enforcement that will likely occur with the incoming Donald Trump administration in the U.S., he said. (Reporting by Shariq Khan, Alex Lawler, Enes Tunagur and Sudarshan Varadhan; editing by Rod Nickel, Chizu Nomiyama and Chris Reese) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );None
Sana Biotechnology stock hits 52-week low at $2.29STEVENSON, Wash. — Two Oregon men were found dead in a Washington state forest after they failed to return from a trip to look for Sasquatch, authorities said Saturday. The 59-year-old and 37-year-old appear to have died from exposure, the Skamania County Sheriff’s Office said via Facebook. The weather and the men’s lack of preparedness led the office to draw that conclusion, it said. Sasquatch is a folkloric beast thought by some to roam the forests, particularly in the Pacific Northwest. The two men were found in a heavily wooded area of the Gifford Pinchot National Forest, which is about 150 miles (240 kilometers) northeast of Portland. A family member reported them missing at around 1 a.m. on Christmas Day after they failed to return from a Christmas Eve outing. Sixty volunteer search-and-rescue personnel helped in the three-day search, including canine, drone and ground teams. The Coast Guard used infrared technology to search from the air. Authorities used camera recordings to locate the vehicle used by the pair off Oklahoma Road near Willard, which is on the southern border of the national forest.
Throughout the year, in our Women, Money, and Mindset columns , we have tackled some of life’s most pressing financial challenges. Every month, we have delved into a financial issue that touches the lives of our readers, offering, each week, a distinct insight from the differing viewpoints of a Certified Financial Planner, an attorney, a CPA, and an executive business coach. From navigating the financial markets and business strategies to estate planning and tools to cut taxes, our goal has always been to provide clear, practical, actionable advice to take to your trusted professionals so you take the next steps to grow your wealth and increase your financial security. In this final installment of the year, the issue is giving, and the topic this week is Charitable Gift Annuities. It is a strategy that can address multiple financial and tax planning issues while supporting the causes that matter most to you. Unlike giving away cash or assets and not receiving anything in return, with a CGA, if you donate to a 501(c)(3) qualified charity, in return, you receive two powerful benefits. First, you can qualify for an immediate tax deduction for part of the contribution. Second, you receive a dependable, fixed income from the charity for the rest of your life. The minimum contribution is usually only $5,000, so it is an accessible planning tool for most people. Before diving into more specifics, let’s see how a CGA can help with some specific financial and tax planning concerns you might have: —You want to give more to your house of worship or favorite charity but are concerned about not having enough income in the future. With a CGA, you can receive guaranteed income for life. —You need a last-minute tax deduction and have maxed out on your IRA or 401k plan contribution for the year. A CGA can act as an alternate retirement plan if you itemize deductions on your return. —You are interested in giving away more to charity but do not want the complications of setting up a charitable trust or naming a trustee. A CGA can be set up in days directly with the charity at no cost to you. —You intend to leave some or all of your estate to charity and would like to have all of your estate planning finalized now. CGAs are especially helpful if you would like to leave your estate to several charities because you can set up annuities with each charity. —You have adequate income now or are not yet retired, but you are concerned about costs later in life, like long-term care. You can receive a larger monthly payment later if you choose a deferred annuity and start the payments at a later date. —If you are concerned about paying capital gains taxes on assets you want to sell, you can avoid or defer taxes if you contribute the asset to the CGA. —If you would prefer your church or favorite charity to have access to some of your contribution now, a CGA is preferable to a charitable remainder trust or bequest that funds after you have died. —If you want to secure the financial future of your spouse, child, or another loved one, CGAs can be set up for the lives of two individuals. This could be especially helpful if you have a child in their 50s or older, and you are concerned about them not having enough guaranteed retirement income. —If you keep most of your funds in the bank but would like to earn a higher return, the charity invests your CGA funds (and generally considered safe) with usually a fixed rate of return that is higher than you would receive on a CD. —You would like to avoid paying taxes on a required minimum distribution, so you are planning on doing a Qualified Charitable Rollover (QCR). New rules will allow you to fund your CGA with a one-time $53,000 QCR. The QCR amount to your CGA will not be included as income on your return, but you can still receive the monthly income benefit from the CGA, and you can defer income further if you choose a deferred CGA. As you can see, a charitable gift annuity checks many financial and tax planning boxes, and it is easy and cost-effective to set up. Now to the specifics. First, you set up the CGA and donate the asset to the charity. The gift is set aside and invested by the charity. You (and also your spouse or other person if you choose a two-person annuity) will receive fixed monthly or quarterly payments for the rest of your lives. The charity can utilize the remaining funds after your death. How much is the tax deduction? The income tax deduction is equal to the amount of the contribution minus the present value of the payments that will be made to the donors during their lives. The charity will handle these calculations for you. How much income will you receive? Current suggested annuity rates range from 4.6-10.1% for those 50 and older, dependent primarily on your age. (In other words, you would receive $4,600 to $10,100 a year on a $100,000 contribution.) For recommended rates and how they are calculated, go to acga-web.org/current-gift-annuity-rates . The amount you would receive is generally fixed and will never fluctuate or adjust for inflation. But it’s also secured by the charity’s entire assets and will continue regardless of how the investments of the annuity perform. Here is an example. Dennis, 75, and Mary, 73, fund a $50,000 charitable gift annuity with appreciated stock that they originally bought for $20,000. They are eligible for an income tax charitable deduction of $17,584. They will then receive a payment rate of 6%, or $3,000 each year for the remainder of their lives. If you contact your church or charity, they will provide you with information regarding the minimum age, contribution requirements, and rates for their annuities. As you can see, a charitable gift annuity is more than just a financial tool-it’s a way to make a lasting difference while providing for yourself and your loved ones. As you plan for the year ahead, I hope this inspires you to take the next step. Wishing you and your family a Happy New Year filled with peace and purpose! Michelle C. Herting is a CPA, accredited in business valuations, and an accredited estate planner specializing in succession planning and estate, gift, and trust taxes. She is also the past president of the Charitable Gift Planners of Inland Southern California. Related Articles
AP News Summary at 4:05 p.m. ESTBotafogo won the Copa Libertadores for the first time in their history with a 3-1 victory over fellow Brazilians Atletico Mineiro on Saturday. Botafogo played almost the entire match with ten men after Gregore was sent off in the first minute but they showed impressive spirit and resilience to secure victory at River Plate's Monumental Stadium in Buenos Aires. Midfielder Gregore was shown a red card after a wild, high challenge on Fauto Vera, forcing Botafogo to adjust their game plan, but Atletico failed to press home their numerical advantage. Veteran forward Hulk had an effort from outside the box saved by John but the team from Belo Horizonte created little pressure. Sensing the game might not be the rearguard action they might have expected, Botafogo began to show more attacking intent and they were rewarded in the 35th minute. Marlon Freitas's shot from the edge of the box ricocheted around a crowded box before the ball fell to Luiz Henrique, who fired home from close range. To their credit, Botafogo didn't retreat to defend their slim advantage and they were able to double their lead in the 44th minute. Atletico defender Guilherme Arana attempted to shepherd the ball back to goalkeeper Everson but Luiz Henrique snuck between the pair and went down under challenge from the keeper. After a VAR review, a penalty was awarded and Alex Telles confidently smashed home the spot kick to give Botafogo an unlikely 2-0 lead at the break. Atletico, who won the Libertadores in 2013, made a triple substitution at the interval and it paid off swiftly with Eduardo Vargas heading in from a corner. Inevitably, there was late pressure from Atletico, but Botafogo made sure of the victory when Junior Santos finished off a counter-attack deep in stoppage time. With the win, Botafogo earns the final of 32 places in next year's FIFA Club World Cup to be held in the United States. sev/js
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When discussing the best players in the league at specific positions, the debate is often fluid and can change from year to year. However, right now, San Francisco 49ers star wide receiver Deebo Samuel didn’t hesitate to name the best wide receiver in the NFL this season. According to Samuel, there are two players who have completely stood out from the rest of the crowd. During his podcast, "Cleats and Convos with Deebo Samuel", he was asked who the best wide receiver in the NFL is this season. Without hesitation, Samuel named Cincinnati Bengals star Ja'Marr Chase, who is on pace to win the Triple Crown with two games remaining. Chase leads all wide receivers in receptions, receiving yards, and receiving touchdowns — a feat that’s been accomplished just twice since 2005. Javascript is required for you to be able to read premium content. Thanks for the feedback.This earnings season has seen plenty of stocks launch 20% or more higher. With upside moves like that, even normal pullbacks will easily shake you out if you buy on the gap. Setting a reasonable stop loss can be difficult. But often, stocks like ( ) will give you a second chance with a lower risk entry. Swing Trading Example: Dutch Bros Stock As the election unfolded and stocks got their postelection bumps, not everything was easy to buy. Dutch Bros was up nearly 4% the day after the election but difficult to buy with earnings on tap. When earnings did come out, Dutch Bros was up 43% at its peak before settling at a 28% gain . A purchase at the open would have fared OK but a purchase at the peak of the day saw over a 10% loss at the close. That can be hard to stomach having a stock gain that much and still be a loser. But if you're patient, you can get a second chance. Bros ended up testing its lows the next day, moving toward its highs over the next few days and then doing one final pullback. The day of interest came when Bros was down three consecutive days but the last day closed high in the range and down less than the prior two days. That's a sign of supporting action when you see an upside reversal like that. Once Dutch Bros started moving the next day, we added it to . Our entry was just above 48, a price that it hit initially on its earnings gap up. But the pullback now gives us a better way of managing our risk. Instead of using the low of the gap up day , more than 10% below our entry price, we can use the upside reversal low and cut our risk in half. Another Pullback Gets An Add Just a few days later, on Nov. 20, we already had nearly a 10% gain on our entry . Given that we were still early in a market turn, rather than take the profit, we decided to hold for longer. But we didn't want to give up all the gains. So we raised the stop to just below 50, the Nov. 20 low. After a mild pullback we added to the position as the stock powered higher . Here we could use the low of the pullback as our stop loss for the added position. Just as we scaled into the position, you can scale out as well. When we saw a gap-up close near its lows , we took the opportunity to lock in some gains. Over the next couple of days, Dutch Bros kept challenging the support at the recent gap-up low and we eventually sold the remaining position . It was another case where the stock wasn't doing anything particularly wrong. But with the market having moved so far so quickly, we took the opportunity to lock in some gains. Especially on stocks that looked like they could use a pause. Earnings gaps are often too difficult to set reasonable stops on the day they occur. But if you're patient, you can often minimize your risk with a mild pullback.