Goldman Sachs today boosted its oil price target by $10 to $90, citing the lingering impact of Hurricane Ida on supply while demand ramps up, especially in Asia. Hurricane Ida could prove to be the most bullish hurricane in U.S. history, cancelling the ramp-up in OPEC+ output since July.
The outlook for the cruise industry remains grim….at least in the short term. Carnival Corp. lost $2.8 billion in its latest quarter, but shares rose Friday after the cruise line operator said bookings for the second half of next year are running ahead of 2019 levels. Carnival, Royal Caribbean and Norwegian all say the delta variant hurt sales this summer.
Despite the economic turmoil of the past year or so, consumers are generally managing their credit quite well. Experian says the
average credit scores rose seven points since 2020 to 695, which is the highest point in more than 13 years. Consumers in Mississippi had the 6th highest credit scores, followed by Louisiana at 7 and Alabama at 8.