Oil Slips Near $63 as Risks Counter Reported U.S. Inventory Draw

Futures in New York dropped 0.7 percent after earlier gaining as much as 1.3 percent. American Petroleum Institute data Tuesday showed an unexpected decrease in U.S. stockpiles, while on Wednesday U.S. equity futures fell and the dollar rose. Investors are watching whether government inventory data confirms a decline when released later.

The API was said to report U.S. crude stockpiles slid 1.05 million barrels last week, with storage also shrinking at tanks in the key hub of Cushing, Oklahoma. That compares with a forecast of nationwide inventories rising by 3.15 million barrels in a Bloomberg survey.
more at:  https://www.bloomberg.com/news/articles/2018-02-07/oil-rebounds-as-industry-data-shows-surprise-u-s-inventory-drop

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FedEx Presents “Deliver Today, Innovate for Tomorrow” Strategy

“The FedEx team and its unparalleled network have been connecting the world and creating opportunities since our founding,” Subramaniam said. “As we enter the next phase of FedEx, we will unlock value from this foundation to deliver outstanding returns to all of our stakeholders. Our strategy is focused on driving yields, expanding margins, and elevating returns through profitable growth and capital efficiency. We have tremendous momentum and a committed leadership team focused on delivering today, while innovating for tomorrow.” The FedEx executive leadership team will discuss its strategy and detailed plans to Deliver Today, Innovate for Tomorrow during today’s investors day. The plans will guide the company’s short- and long-term priorities to maximize value for customers, stockholders, and team members. The leadership team will also outline how FedEx is Innovating for Tomorrow by: *Enabling intelligent supply chains by leveraging its technology, data, and digital capabilities *Leading through its continued commitment to sustainability *Reinventing work and empowering people
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