⚠️BREAKING: *GLOBAL STOCKS ERASE GAINS, RESUME SELLOFF AS CONTAGION FEARS HIT BANKING SECTOR
) formally launched its new share buyback program, with the Swiss pharmaceutical giant set to spend up to CHF 10 billion repurchasing its shares over the next three years.Oil prices edged lower Monday, giving up earlier gains following a Reuters report that the Biden administration will approve a major oil drilling project in Alaska.
The project is expected to produce about 600 million barrels of oil equivalent over its life, peaking at 180,000 barrels of oil per day, ConocoPhillips said on its website. Crude prices had benefited earlier Monday from the drop in the U.S. dollar on the raised expectations that the Fed will temper its monetary tightening policy going forward., which tracks the greenback against a basket of six other currencies, fell to two-week lows, making oil cheaper for holders of other currencies.
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