After a lower close yesterday, oil prices have ticked slightly higher this morning. The US benchmark – West Texas Intermediate – has climbed above 81 dollars-per-barrel. Traders are weighing a worsening economic outlook against reports that OPEC+ has begun discussions of an output cut at its next meeting, coming up on Wednesday.
The Port of New Orleans says it’s got 1.5-billion-dollars in funding to build a new shipping terminal near Violet. It’s hoping to start construction by 2025. Officials also are optimistic about the state of the cruise industry. The port’s director expects end-of-year numbers to reflect pre-pandemic levels. Viking Cruises will return to the city next month.
On Wall Street, futures are higher as the market aims for a rebound following yesterday’s broad sell-off fueled by fears of additional interest-rate hikes.
