Sunday, September 15, 2019

Tag: Oil Price

Treasury Market’s Biggest Buyers Are Selling as Never Before

They’ve long been one of the most reliable sources of demand for U.S. government debt. But these days, foreign central banks have become yet another worry for investors in the world’s most important bond market. Holders like China and Japan have culled their stakes in Treasuries for three consecutive quarters, the...

Saudi Arabia Injects $5.3 Billion Into Banks to Ease Crunch

Saudi Arabia's central bank stepped up efforts to support lenders in the Arab world’s biggest economy as they grapple with the effects of low oil prices. Banks’ shares advanced. The Saudi Arabian Monetary Agency, as the central bank is known, is giving banks about 20 billion riyals ($5.3 billion) of time deposits...

Profit Slump for S&P 500 Heads for a Sixth Straight Quarter

Analysts have been cutting estimates for U.S. earnings, after earlier projecting a return to growth during the third quarter. The third quarter was supposed to be when earnings growth returned to U.S. companies. Not anymore. Companies in the S&P 500 are now expected to report an earnings decline for the sixth...

Deutsche Bank: The US May Now Be In A Recession

Three months ago, we presented an analysis which showed something disturbing: according to Deutsche, the "current business cycle is already the fourth longest in the post- WWII period, and the corporate debt-to-GDP ratio suggests that imbalances are building", and that worse, as a result of soaring corporate debt and...

Saudi Arabia Said to Weigh Canceling $20 Billion of Projects

Saudi Arabia is intensifying efforts to shrink the highest budget deficit among the world’s biggest 20 economies, aiming to cancel more than $20 billion of projects and slash ministry budgets by a quarter, people familiar with the matter said. The government is reviewing thousands of projects valued at about 260...

Venezuela’s Maduro Accuses US of Imperialist Attack Against Latin American Leftists

Recent turmoil faced by progressive governments in Brazil, Bolivia, and Venezuela point to "an imperialist attack against all," Maduro says. Venezuela's leftist president Nicolas Maduro told a crowd of supporters Saturday that the turmoil of recent months in progressive Latin American countries are the result of "an imperialist attack on...

Saudi Arabia Oil Demand Growth at 6-Year Low on Slowdown

Oil consumption in Saudi Arabia, the world’s biggest crude exporter, is expanding at the slowest pace in at least six years as low energy prices hurt economic growth. The kingdom’s demand for oil increased by an average of 24,000 barrels a day in the first five months of 2016, the...

Oil Giants Find There’s Nowhere to Hide From Doomsday Market

Exxon Mobil Corp. and Royal Dutch Shell Plc last week reported their lowest quarterly profits since 1999 and 2005, respectively. Chevron Corp.’s third straight loss marked the longest slump in 27 years, and BP Plc lodged its lowest refining margins in six years. Welcome to year two of a supply...

Oil Majors Hit Hard As Refining Boom Comes To An End

British Petroleum, the first oil major to announce results on Tuesday, has reported the lowest refining margins for the April to June period in the past six years. The global refining marker margin, which stood at $13.80 a barrel in the second quarter of this year, has dropped down...

Venezuela’s Inflation Is Set to Top 1,600% Next Year

Food shortages, weak oil prices and economic mismanagement has forced the government to declare a state of emergency. While most advanced economies struggle to lift inflation, none would want Venezuela‘s situation: Consumer-price inflation is forecast to hit 480% this year and top 1,640% in 2017, according to the International Monetary Fund. A shortage of medical...

The Role of Sanctions in U.S.-Russian Relations

Sanctions are a critical tool in persuading Russia to change its Ukraine policy. But the West’s overreliance on them risks undercutting their long-term effectiveness. Sanctions have been a central element of U.S. Russia policy following Moscow’s annexation of Crimea and the beginning of the undeclared war in eastern Ukraine. They...

May trade deficit jumps 10% as U.S. consumers snap up more imports

Trade gap climbs to three-month high of $41.1 billion. WASHINGTON (MarketWatch) — Higher oil prices and stronger demand by consumers for imports such as cell phones, sneakers and home furnishings boost the U.S. trade deficit in May by 10% to a three-month high. The nation’s trade gap climbed $41.1 billion from...

Britain’s Plummeting Pound Is Bad News for America

Fallout from Britain's decision to leave the European Union continued Tuesday, with the once-powerful pound falling to its lowest levels against the U.S. dollar in three decades. This is bad news for Britons, who have seen the value of their currency drop to  $1.30 vs. the dollar — on June...

The Future of U.S.-Saudi Relations

The Kingdom and the Power. The relationship between the United States and Saudi Arabia has come under unprecedented strains in recent years. U.S. President Barack Obama has openly questioned Riyadh’s value as an ally, accusing it of provoking sectarian conflict in the region. According to The Atlantic’s Jeffrey Goldberg, when...

U.S. Stocks Fall With Global Shares, Pound on Brexit; Gold Gains

The aftershocks of the U.K.’s vote to leave the European Union reverberated across financial markets after a weekend of political turmoil, with the pound extending its record selloff and European equities dropping to levels last seen in February. The S&P 500 dropped 1.8 percent to the lowest since mid-March, while...

Putin Praises ‘All-Embracing’ Partnership of Russia, China

Russian President Vladimir Putin on Saturday emphasized economic ties with China and praised what he called Russia's "all-embracing and strategic partnership" with its neighbor, during a visit to Beijing that takes place against the background of a drop in trade and lingering mistrust. Putin told Chinese Premier Li Keqiang that...

China’s Pivot to Putin’s Friends

The Moscow-Beijing partnership is stalling. But Xi is winning over the Russian president’s inner circle with favorable loans and sweetheart energy deals. When Gennady Timchenko — a Russian oligarch and close friend of President Vladimir Putin — was appointed chair of the Russian-Chinese Business Council, an association of more than...

Asia markets capitulate as UK votes to leave European Union

Asian stocks cratered, gold prices surged and the dollar briefly plunged below 100 against the yen on Friday as financial markets were rocked by results from the UK referendum on European Union (EU) membership that pointed to a Brexit. The UK voted to leave the EU, a dramatic turn that...

UK’s out vote proves a game-changer for US stocks, oil and gold

The Dow Jones dropped 610 points as gold prices jumped to their highest levels since October 2013 following the results of the EU referendum. US markets fell sharply of Friday as American traders tried to reckon with a newly uncertain future in the wake of the shock “leave” result of...

Troubled Russia Tries to Exploit Links to China

Putin to visit Beijing in bid to boost trade and ties as Russian economy struggles from Western sanctions. Russian President Vladimir Putin will try to bolster trade and economic ties when he visits China on Saturday to meet Chinese President Xi Jinping, as Russia’s economy struggles amid Western sanctions and...

The Era of Cheap Oil Is Coming to an End

Prices have been low for more than two years. With demand rising and supply falling, that’s all beginning to change. In the past two years, a flood of crude has pushed down oil prices, battering corporate balance sheets and wreaking havoc with budgets in oil-dependent countries from Russia to Iraq. That’s...

U.S. Import Prices Rise at Fastest Pace Since 2012

May’s 1.4% jump indicates rising oil prices are contributing to firming domestic inflation. WASHINGTON—Prices for imported goods rose in May at their fastest pace in over four years, a sign that rising oil prices and the fading strength of the dollar are contributing to firming domestic inflation. May saw the third...
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An Overview of the Economic Outlook and Monetary Policy of the United States

Description Lael Brainard, a member of the Board of Governors of the Federal Reserve, discusses the current economic outlook of the United States and the monetary policies of the U.S. Federal Reserve. Brainard reflects on the challenges the U.S. economy faces with a potential interest rate rise on the horizon....

Saudi Arabia said to weigh bond sale of up to US$15b

Saudi Arabia is considering selling as much as US$15 billion of bonds this year in what would be the country's first foray into international capital markets, people with knowledge of a matter said. Encouraged by Qatar's record issue last week, Saudi Arabia is weighing a sale of at least...

A Russian warning

We, the undersigned, are Russians living and working in the USA. We have been watching with increasing anxiety as the current US and NATO policies have set us on an extremely dangerous collision course with the Russian Federation, as well as with China. Many respected, patriotic Americans, such as...

Russia’s Perpetual Geopolitics

Putin Returns to the Historical Pattern. For half a millennium, Russian foreign policy has been characterized by soaring ambitions that have exceeded the country’s capabilities. Beginning with the reign of Ivan the Terrible in the sixteenth century, Russia managed to expand at an average rate of 50 square miles per...

Saudis Have Lost the Oil War

Poor Saudi Arabia. They don’t realize it yet but they have lost their oil war. The war in its current phase began in September, 2014, when the dying King Abdullah and his Minister of Petroleum, Ali Al-Naimi, told US Secretary of State John Kerry they would gladly join Washington...

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

t was July 1974. A steady predawn drizzle had given way to overcast skies when William Simon, newly appointed U.S. Treasury secretary, and his deputy, Gerry Parsky, stepped onto an 8 a.m. flight from Andrews Air Force Base. On board, the mood was tense. That year, the oil crisis had hit home. An embargo by OPEC’s Arab nations - payback for U.S. military aid to the Israelis during the Yom Kippur War - quadrupled oil prices.

The Desperate Plight of Petro-States

With a Busted Business Model, Oil Economies Head for the Unknown. Pity the poor petro-states. Once so wealthy from oil sales that they could finance wars, mega-projects, and domestic social peace simultaneously, some of them are now beset by internal strife or are on the brink of collapse as oil...

Chevron-led Consortium to Invest Up to $37 Billion in Kazakh Oil Field

ASTANA, Kazakhstan - Chevron Corp. and its partners agreed to invest up to another $37 billion to increase output at a Kazakhstan oil field that is among the world’s most expensive, the country’s energy minister said on Wednesday, a rare big spending commitment during a prolonged crude price slump. The...

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