Authored by Tsvetana Paraskova via OilPrice.com,
*OPEC’s production cut deal is unlikely to survive beyond its current deadline in March 2018,* with the agreement seen falling apart towards the.. Zero Hedge
Oil futures are rising after US oil inventories dropped more than expected.
The price of West Texas Intermediate crude oil futures rose slightly Wednesday morning, about 0.48% to $43.70. The US.. Business Insider
Jun.21 -- Kelvin Tay, regional chief investment officer for southern Asia-Pacific at UBS Wealth Management CIO Office, discusses the oversupply of oil and the outlook for further OPEC production cuts... Source: Bloomberg Technology -
In a shocking development, on Wednesday Saudi Arabia’s King Salman appointed his 31-year-old son Mohammed bin Salman (his eldest son from his third wife) as crown prince, placing him as first-in-line.. Zero Hedge
Authored by Cyril Widdershoven via OilPrice.com,
The fledgling production cut strategy of OPEC (Saudi Arabia) and non-OPEC (Russia and the FSU) shows that *a new strategy is needed to counter the.. Zero Hedge
Authored by Dave Forest via OilPrice.com,
*Libya has been one of the biggest x-factors in the global crude markets the past year.* With on-again, off-again production in this key nation alternately.. Zero Hedge
· *Protests swept across Russia on Monday*
· *The US Senate passed a bill that would tighten sanctions on Russia*
· *These developments will have an impact on how Russia's oil strategy plays.. Business Insider
The data is out, and the price of oil is dropping.
US crude inventories fell by 1.7 million barrels from last week, according to the US Energy Information Administration. The price of futures.. Business Insider
The Mexican peso has climbed to a 10-month high.
The currency was up by 0.1% at 18.0255 per dollar at 7:41 a.m. ET.
It has climbed by more than 16% against the greenback since touching a low in.. Business Insider
Here is what you need to know.
*It's a Fed day. *The market is pricing in a 94.8% chance that the Federal Reserve will hike interest rates at Wednesday's meeting, but the Fed chair, Janet Yellen,.. Business Insider
*For the first time since September 2014*, after which oil prices collapsed almost 75%, *Brent and WTI Crude futures both just flashed a 'death cross' signal *as the 50-day moving-average crossed below.. Zero Hedge
Oil is falling after OPEC increased oil production despite last month's agreement to extend production cuts. West Texas Intermediate crude oil trades down 0.24% at $45.89 a barrel early.. Business Insider
Well, so much for OPEC's production cut.
In OPEC's latest Monthly Oil Market Report, the oil producing cartel reported that in May - the same month OPEC met to extend its production cuts - crude.. Zero Hedge
This is* "classic 'shorts outperforming your longs' stuff,"* notes RBC's head of cross-asset strategy Charlie McElligott, as he warns Friday's VaR-shock is a worst-case scenario against a *backdrop.. Zero Hedge
"Triple Threat Thursday" is now a distant memory, with both the ECB and Comey testimony "non-events" for the market, although the UK general election was a shocker in which contrary to expectations,.. Zero Hedge
ST.PETERSBURG, Russia (AP) — The head of Russia’s state-controlled Rosneft oil giant says that that a rise in shale oil output in the U.S. would likely offset the effect from OPEC production cuts... Seattle Times