Author: BlackMask Financial

(Boomberg) — Crude in London tumbled below $40 a barrel for the first time since late June in the wake of faltering demand and weaker equities dampening market sentiment. Brent futures tumbled as much as 5.3% to $39.77 a barrel on Tuesday. The combination of a stalling Asian demand recovery, the end of the U.S. summer driving season and increased supply from the OPEC+ alliance are signaling a bleak short-term outlook for oil prices. Equity markets also weakened, leading crude to break the key psychological barrier of $40 a barrel. The Nasdaq 100’s three-day slide topped 10% after its surge from March lows stretched valuations toward levels last seen in the dot-com era. The demand environment is “only going to get worse here,” said John Kilduff, a partner at Again Capital LLC. With the “pronounced rally in the dollar” and “the significant sell-off in the stock market, we’re getting dragged down with that too. There’s a big risk-off sentiment as the summer holiday ends here.” Meanwhile, only four of 10 Asian refiners surveyed by Bloomberg said they would be trying to buy more Saudi Arabian crude after the kingdom cut pricing for October as consumption remained below pre-coronavirus levels. Abu Dhabi National Oil Co. also cut prices on Tuesday, the latest response to a sluggish demand backdrop in the world’s biggest oil-consuming region. Brent for November settlement declined $2.16 to $39.85 a barrel at 9:53 a.m. in New York.West Texas Intermediate for October delivery fell $3.09 to $36.68 a barrel.

MOSCOW (Reuters) – Global oil demand could fall by 9-10 million barrels per day (bpd) this year due to impact of the COVID-19 pandemic, Russian Energy Minister Alexander Novak said on Friday, adding prices had room to recover further. That’s in line with last month’s forecast by the Organization of the Petroleum Exporting Countries, which saw world oil demand tumbling by 9.06 million bpd this year.

Demand for oil has been hit by the pandemic, which has forced lockdowns across the globe and led to a steep decline in consumption of the fuel.

Speaking at an online conference, Novak also said oil prices could potentially rise to around $65 per barrel next year, but that he expected them to be volatile. Brent crude is currently trading around $44 per barrel, after slumping to a 21-year low below $16 in April at the height of restrictions to contain the pandemic. Asked by the conference moderator if he agreed with Goldman Sachs’s forecast that the oil price could reach $65 per barrel, Novak said it was possible, but that he was more cautious. “I have a rather more modest forecast, comparing to Goldman Sachs, for 2021. In my opinion, again, speaking about the average price per year, we could be in a corridor of $50 to $55 per barrel. But the volatility might be there,” he said via an interpreter.  The world remains inundated with crude and fuel despite supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC +, and government efforts to boost oil production. global economy and demand for oil. As a result, refiners have cut back on fuel production, prompting oil producers like Saudi Arabia to cut prices to offset the drop in demand for crude. Monday’s Labor Day holiday marks the traditional end of the peak summer demand season in the United States and has renewed investor attention to the current lackluster fuel demand of the world’s largest oil user. world. China, the world’s largest importer of oil, which has supported prices with record purchases, slowed consumption in August and increased exports of products, customs data showed Monday. “There are so many uncertainties about the Chinese economy and its relationship with major industrialized countries, with the United States and nowadays, even Europe,” Keisuke Sadamori, director of markets for the United States, told Reuters. energy and security at the International Energy Agency. Saudi Arabia, the world’s largest oil exporter, has lowered the official October selling price of Arab Light crude it has been selling to Asia since May, indicating that demand remains weak. Asia is Saudi Arabia’s largest market by region.

Nick Note: If Novak predicts $50 YOU CAN EXPECT OIL UNDER $30. Brent is already in the lower forties… I could see oil in the twenties as the next wave of the coronavirus sucks shut the global economy…… again!

PARIS (Reuters) – France must stay vigilant as more people will be hospitalised in intensive care units in the next two weeks, reflecting a flare-up in COVID-19 infections in recent days, Health Minister Olivier Veran said on Saturday.  Veran however ruled out the need for a new nationwide lockdown, telling BFM television that France had other means to fight the virus, including testing. “I cannot envision a general lockdown. The lockdown was a lid on an overflowing cooking pot,” he said. Health authorities on Friday reported 8,975 new confirmed cases, almost 1,500 higher than the previous daily peak of 7,578 on March 31, when France was in one of Europe’s strictest coronavirus lockdowns. The death toll in France stood at 30,686 people as of Friday. As the rise in infections has mainly affected young people, who are less likely to develop complications, there has so far been less strain on French hospitals, which were almost overwhelmed at the end of March. But after falling steadily for months after an April 14 peak of 32,292, the number of people hospitalised was up by 28 on Friday to 4,671, rising for a sixth day in a row. “We are not all on the same epidemic wave as last spring. We are on a slower trend but one that must alert us,” Veran said. “This week, 55 patients on average were hospitalised in intensive care units (ICU) each day, this means we are on an average of 1,500-2,000 people hospitalised in ICU units per month in our country. This is not neutral and we must be extremely vigilant,” he added. Current hospitalisation numbers reflected infections contracted two weeks ago, Veran said. “So it is obvious that in the next 15 days there will be an increase, it will not be massive but there will nevertheless be an increase in the number of severe cases and in the number of people hospitalised and in ICU units” Nick Note: Two things have happened.

1st. The first wave has passed and immunity has wore off.

2nd Europe relying on the N95 joke coffee filter paper mask opened up.

And the aluminum and Kevlar flying Incubator chambers are spreading the aerosolized mutation of the coronavirus from the US to Europe. The only way to get on top of this is to stop all Airliners, Massive testing and tracing and isolate the clusters of infections when they pop up.

Oh Yes i almost forgot wear a sealing rubber mask and a P3 R virus proof mask and seal your eyes.

And isolate yourself from stupid peole as much as possible….

And don’t forget to get cyrbermoney from offshore banks to spend  on your discrete Mastercard

If you have the 3 B’s trade the next crash that is coming!

Donald Trump’s former lawyer Michael Cohen said Friday he believes his former boss will “do anything and everything” to win re-election and “even go so far as to start a war” to remain in office. In an exclusive interview with NBC News’ Lester Holt, Cohen was asked if he thought Trump would win in November. “So Donald Trump will do anything and everything within which to win. And I believe that includes manipulating the ballots,” Cohen said. “I believe that he would even go so far as to start a war in order to prevent himself from being removed from office,” Cohen continued. “My biggest fear is that there will not be a peaceful transition of power in 2020.” Cohen, who worked for Trump for years as his personal lawyer and self-described “fixer,” began serving a three-year prison sentence last year for financial crimes and lying to Congress. He was released in July to serve the rest of his sentence at home folowing concerns that unsafe prison conditions could put him at risk for coronavirus. Cohen turned on his boss in spectacular fashion, calling him a “con man” and “a cheat” during dramatic testimony before Congress last year. He’s written a book about his time working for Trump called, “Disloyal, a Memoir.” It goes on sale Tuesday. In a statement, the White House called Cohen’s book “fan fiction” and said, “He readily admits to lying routinely but expects people to believe him now so that he can make money from book sales.” Nick Note: Trump is capable of far more ugliness then starting a war with some shithole country. Try suspending the constitution (Pandemic) and creating a police state. the stakes in the upcoming elections could not be higher

 ‘The worst is yet to come’

Oil prices fell more than 3% on Friday and posted their biggest weekly decline since June as fears of a slow economic recovery from the COVID-19 pandemic compounded worries about weak oil demand. Brent crude , the international benchmark, fell $1.41, or 3.2%, to settle at $42.66 a barrel While there is evidence to support the view that demand is higher than at the height of pandemic-induced lockdowns in the second quarter, there are questions as to whether it is strong enough to absorb the likely increase in supply. Much of the optimism remains centered around a recovery in Asia, particularly in China, the world’s largest crude importer, which has been setting records for imports in recent months. Certainly, August looks set to be another strong month for China, with Refinitiv Oil Research forecasting imports of 12.11 million barrels per day (bpd). This would be slightly higher than the official customs figures of 12.08 million bpd for July, but short of the record high 12.94 million bpd in June. If the official August imports are in line with Refinitiv’s estimates, it will mean that the four highest monthly imports have been the May to August period, underlining just how much the crude oil market has depended on China to keep some semblance of demand going during the novel coronavirus pandemic. It’s also no secret that much of the Chinese surge in imports in recent months was due to a splurge of opportunistic buying during the brief price war between top exporters Saudi Arabia and Russia in March and April. With oil prices falling to 22-year lows, Chinese refiners took advantage of their financial muscle to vacuum up available barrels across the globe. That oil has been arriving from late May onwards, and there has been so much that tankers have been forced to wait for up to four weeks at a time to unload at Chinese ports. More than 90 million barrels of crude was still waiting on tankers outside Chinese ports as at the end of August, Refinitiv said, with another 17.5 million barrels destined for China waiting off the regional oil-trading hub of Singapore. Working on the assumption that these cargoes will be discharged in September, it’s likely that this alone will keep China’s September imports at a high level, even if the volume of new crude is declining. Refinitiv said August-loading barrels destined for China were 7.93 million bpd, down from 8.2 million bpd in July and well down from the second quarter average of 11.87 million bpd. What the data seems to be showing is that the crude oil that has been flooding to China in recent months will probably ease back to more normal levels from October onwards. While this still means imports of likely above 10 million bpd, it does mean the crude market is going to lose as much as 2 million bpd of demand that it had been getting used to. Can rebounding demand in the rest of Asia make up for the loss of 1 to 2 million bpd from China? The data currently suggests not, even though there are some signs of recovery. India, Asia’s second-biggest importer, brought in 3.6 million bpd in August, according to Refinitiv, up from 3.44 million bpd in both July and June. While this is a recovery, it’s worth noting that pre-coronavirus demand in India was in the region of 4.1 to 4.7 million bpd, meaning demand is still crimped. Given India is still battling the pandemic, it may take longer for demand to fully recover in the South Asian nation. Japan is usually Asia’s third-biggest crude importer, but such is the weakness in demand there that it is at risk of swapping places with fourth-ranked South Korea. Japan’s August imports were around 2.35 million bpd, up from 2.09 million bpd in July, but still well below usual levels around 3 million bpd, according to Refinitiv. South Korea’s August imports were around 2.29 million bpd, down from July’s 2.74 million, and also below the pre-coronavirus levels of around 2.9 million bpd. Both Japan and South Korea are still battling to contain the coronavirus, putting a question mark over how rapidly their crude demand will recover. With members of the OPEC+ grouping boosting output in August after they eased their collective production cut by 2 million bpd to 7.7 million bpd, the bet they are placing is that demand is recovering faster than they are putting crude back in the market. Whether they are correct or not will likely depend on how much of a pullback in Chinese demand does occur from October onwards. Nick Note: We are seeing loadings drop, ships to the US are few and far between. China landings have slowed way way down. In reality the largest driver of demand is transportation fuels, Diesel, Gasoline and Jet Fuel. OF these transportation models over 80% is jet fuel. Despite how many videos the PR agencies hired by the airlines people are not buying into the dieways are safe. You cannot social distance on a plane, masks are a joke as you know and the 50% recirculated air is a virus spreading blower . AND their JOKE filtration systems HEPTA  H10 grade (which they and cruise ships have used since 1990)  do not catch the virus (85% efficent) spreading as a aerosol. $20 a barrel oil here we come……

The president has repeatedly disparaged the intelligence of service members, and asked that wounded veterans be kept out of military parades, multiple sources tell The Atlantic. When President Donald Trump canceled a visit to the Aisne-Marne American Cemetery near Paris in 2018, he blamed rain for the last-minute decision, saying that “the helicopter couldn’t fly” and that the Secret Service wouldn’t drive him there. Neither claim was true. Trump rejected the idea of the visit because he feared his hair would become disheveled in the rain, and because he did not believe it important to honor American war dead, according to four people with firsthand knowledge of the discussion that day. In a conversation with senior staff members on the morning of the scheduled visit, Trump said, “Why should I go to that cemetery? It’s filled with losers.” In a separate conversation on the same trip, Trump referred to the more than 1,800 marines who lost their lives at Belleau Wood as “suckers” for getting killed. Belleau Wood is a consequential battle in American history, and the ground on which it was fought is venerated by the Marine Corps. America and its allies stopped the German advance toward Paris there in the spring of 1918. But Trump, on that same trip, asked aides, “Who were the good guys in this war?” He also said that he didn’t understand why the United States would intervene on the side of the Allies. Trump’s understanding of concepts such as patriotism, service, and sacrifice has interested me since he expressed contempt for the war record of the late Senator John McCain, who spent more than five years as a prisoner of the North Vietnamese. “He’s not a war hero,” Trump said in 2015 while running for the Republican nomination for president. “I like people who weren’t captured.” Belleau Wood is a consequential battle in American history, and the ground on which it was fought is venerated by the Marine Corps. America and its allies stopped the German advance toward Paris there in the spring of 1918. But Trump, on that same trip, asked aides, “Who were the good guys in this war?” He also said that he didn’t understand why the United States would intervene on the side of the Allies. demonstrated his commitment to them at every turn: delivering on his promise to give our troops a much needed pay raise, increasing military spending, signing critical veterans reforms, and supporting military spouses.