The Consumer Sentiment Index in the United States declined 5.1% in June compared to the month prior to stand at 65.6, a preliminary report released by the University of Michigan showed on Friday. However, the figure climbed by 2.2% on an annual level. The Current Economic Conditions Index tumbled 10.2% in the reported period compared …
Continue reading “US consumer confidence worsens further in June”
BAGHDAD, June 9 (Reuters) – Iraq’s Oil Minister Hayan Abdel-Ghani said there has been progress in talks with Kurdistan region officials and representatives of international companies operating there for a deal to resume oil exports via a pipeline to the Turkish port of Ceyhan. “We have a progress in today’s talks and we expect to …
Morningstar analysts noted that, on a quarterly basis, oil prices look weak. The analysts revealed in the report that they expect “continued weakness, with $65-$70 a barrel (WTI) a likely possibility in 2024, if not lower”. “We see the OPEC+ production cut extensions as a sign of weakness, not strength. Most of the extension deadlines …
The Israeli military says its 162nd division is continuing operations in the Rafah area in southern Gaza, eliminating a number of terrorists and locating weapons and underground tunnel shafts. Troops from the Nahal Brigade also found and destroyed several explosives stockpiled by Hamas, the Israel Defense Forces says in a statement. Also in southern Gaza, …
President Biden started to wander off during a skydiving demonstration at the G7 summit in southern Italy Thursday, with the host nation’s prime minister Giorgia Meloni pressed into action to pull him back toward the group. As the leaders of the world’s wealthiest democracies applauded the evening parachuting presentation, the 81-year-old US president’s attention visibly …
Approximately 250 rockets were launched on Wednesday towards northern Israel, disrupting the holiday calm with successive alerts. Rockets that exploded in open areas caused fires. In the city of Tiberias, a siren was activated for the first time since October. These launches come after the assassination of senior Hezbollah official Sami Taleb Abdullah, whose rank was …
Continue reading “Nasrallah now realizes the IDF can kill him….. and will”
United States Federal Reserve Chair Jerome Powell stated on Wednesday that the financial institution is currently not contemplating rate hikes for the moment as the central bankers “think that with restrictive policy, the economy will weaken.” “We think policy is restrictive and ultimately, eventually you will see weakening in economy. No one on committee has …
Crude oil prices moved lower today after the U.S. Energy Information Administration reported an estimated inventory increase of 3.7 million barrels for the week to June 7. The change compared with a weekly build of 1.2 million barrels for the previous week that was also accompanied by builds in fuel inventories, pressuring benchmarks. Last week, the …
Crude oil stockpiles in the United States rose by 3.7 million barrels to stand at 459.7 million barrels in the week ending June 7, the US Energy Information Administration shared in its report on Wednesday. The crude oil refinery inputs in the country averaged 17 million barrels per day, falling by 98,000 barrels per day …
Brent crude oil and West Texas Intermediate (WTI) were both trading up over 2% on Monday as optimism strengthened over summer fuel demand prospects and despite the dwindling potential for the U.S. Federal Reserve to cut interest rates. On Monday at 12:06 p.m. EST, Brent crude oil was trading up 2.19% at $81.36, for a …