Iran has seized a second oil tanker in a week on Wednesday in Gulf waters, the U.S. Navy said, the latest escalation in a series of seizures or attacks on commercial vessels in Gulf waters since 2019. The Bahrain-based Fifth Fleet of the U.S. Navy said the Panama-flagged oil tanker Niovi was seized by Iran’s …
The OPEC+ group is studying the causes of the decline in world oil prices, will monitor the situation to understand the reasons, Russian Deputy Prime Minister Alexander Novak said on Wednesday MINERALNYE VODY (UrduPoint News / Sputnik – 03rd May, 2023) The OPEC+ group is studying the causes of the decline in world oil prices, …
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TMUBMUSD02Y 3.957% TMUBMUSD10Y 3.393% TMUBMUSD30Y 3.714% The Federal Open Market Committee (FOMC) of the United States Federal Reserve announced on Wednesday that it will raise the federal funds rate target range by a quarter percentage point to between 5% to 5.25%. “The Committee would be prepared to adjust the stance of monetary policy as appropriate …
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Crude oil prices continued lower after the Energy Information Administration reported yet another weekly inventory draw on crude oil inventories. The report came a day after the American Petroleum Institute estimated inventories had shrunk by almost 4 million barrels in the week to April 28. The EIA estimated inventories had shed 1.3 million barrels in the period, …
Continue reading “IMF: Saudi Arabia Needs Oil Prices At $80.90 To Balance Budget”
While some analysts started talking about $100 after the surprise OPEC+ cuts, Morgan Stanley is cutting its price forecasts for this year and next, viewing the latest move as a probable admission from the biggest producers in OPEC+ that demand may not be doing too well in the coming months. “OPEC probably needs to do …
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Iraq slumps 250,000 barrels a day amid spat with Kurds Nigeria rebound fizzles as Exxon reneges on shipments Iran oil workers join nation wide strick OPEC’s oil production fell last month as Iraq’s exports were reduced by a pipeline suspension while a labor strike cut shipments from Nigeria. Output from the Organization of Petroleum Exporting …
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IMF Says China Has Space to Keep Monetary, Fiscal Policy Loose China has scope to keep monetary and fiscal policy supportive to help strengthen the economy’s recovery, a top International Monetary Fund official said. “China has the policy space to keep monetary policy accommodative because inflation is very much muted,” Krishna Srinivasan, the IMF’s director …
JPMorgan Chase & Co. will protect all insured and uninsured deposits for customers at First Republic Bank as part of its acquisition of the bank, the merging financial institutions said Monday. As JPMorgan Chase JPM announced its win in a government-led auction of First Republic Bank, the bank said it would step in starting Monday …
The deal allows for an orderly failure of First Republic and avoids regulators having to insure all the bank’s deposits, as they had to do when two others collapsed in March. First Republic disclosed last week that it had suffered more than $100 billion in outflows in the first quarter and was exploring options, increasing …
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Banks are saddled with bad loans, signaling trouble ahead in the US commercial property market, Berkshire Hathaway Inc.’s Charlie Munger told the Financial Times in an interview. Despite Berkshire’s long history of supporting US banks in times of turmoil, the company stayed on the sidelines after the collapse of Silicon Valley Bank and Signature Bank. …
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