The personal consumption expenditures price index, one of the Feds preferred inflation gauges, rose 0.1% in May, Commerce Department figures showed Friday. From a year ago, the measure stepped down to 3.8%, the smallest annual advance in more than two years, Core excluding food and energy was UP 4.6% year over year. NN: Nothing has …
After a wildly successful period amid soaring oil prices, legendary oil trader Pierre Andurand has seen his hedge fund suffer the worst ever loss after oil prices reversed course. Andurand’s main Andurand Commodities Discretionary Enhanced Fund, which makes leveraged bets, fell by another 7% in the current month through June 23 to bring year-to-date losses …
Continue reading “Andurand’s Oil Hedge Fund Crashes…. Trading is like a bloody cage fight”
Leader of the mercenary Wagner Group Yevgeny Prigozhin has refused to sign a contract with the Russian Defense Ministry, meaning that Wagner could have to pull out of Ukraine, Russian media reported on Thursday. According to the Chairman of the State Duma Committee on Defense Andrey Kartapolov, Prigozhin was told that “all formations that perform …
Continue reading “Wagner could withdraw as Prigozhin refused to sign contract”
The United States gross domestic product (GDP) increased by 2% in the first quarter, according to the third estimate by the Bureau of Economic Analysis on Thursday. The previous estimate put the annual Q1 growth at 1.3%. “The updated estimates primarily reflected upward revisions to exports and consumer spending that were partly offset by downward …
Crude inventories fall by 9.6 million barrels last week: EIA WTI trades over $69 a barrel after rising 2.8% on Wednesday Oil steadied in Asia after a big decline in US crude stockpiles provided some optimism for a market weighed down by demand concerns. West Texas Intermediate traded near $69 a barrel after closing 2.8% …
Continue reading “oil, Oil, OIL… Damn OIL. What a pain in my ass…”
Two top Russian generals disappear from public view Their fate is unclear as Putin seeks to reassert authority Mercenary boss had demanded defence minister’s removal Yet Sergei Shoigu has made several appearances this week Rumours swirl of arrest, imprisonment of one of generals LONDON, June 29 (Reuters) – Russia’s most senior generals have dropped out …
Continue reading “Top Russian generals are gone…. Maybe Dead”
United States Federal Reserve Chair Jerome Powell said on Wednesday, speaking at a panel at the ECB Forum for Central Banking, that he wouldn’t take hiking interest rates at consecutive meetings “off the table.” Nonetheless, Powell noted that the central bank hasn’t made any decisions yet when it comes to the upcoming meetings and the …
Continue reading “Powell wouldn’t rule out moving at consecutive meetings”
Its over. It looks like the Bottom is in. Prices rising and inventories are falling. Demand is rising. And production is falling. BlackMask Blog: Oil shorts the grim reaper is coming for you
Crude oil inventories in the United States decreased this week by 2.408 million barrels, the American Petroleum Institute (API) data showed on Tuesday, after falling by 1.246 million barrels in the week prior. Analysts were expecting a smaller 1.467-million-barrel draw in U.S. crude-oil inventories. The total number of barrels of crude oil gained so far …
Continue reading “US Oil inventories down 2.41M barrels….. Oil Retests Triple Bottom”
June 27 (Reuters) – Oil prices edged lowerr on Tuesday, spurred by worries about political instability in Russia and possible supply disruptions, as well as U.S. demand hopes ahead of the summer driving season. A clash between Moscow and Russian mercenary group Wagner was averted on Saturday after the heavily armed mercenaries withdrew from the …
Continue reading “Oil rises softens supply worries, U.S. summer demand”