The possibility of a big COVID-19 rebound in China over the next two or three months is remote as 80% of people have been infected, a prominent government scientist said on Saturday. The mass movement of people during the ongoing Lunar New Year holiday period may spread the pandemic, boosting infections in some areas, but …
Russia’s seaborne crude exports fell back last week after surging in the previous seven days, contributing to the smallest inflow into the Kremlin’s war-chest since Moscow sent its forces into Ukraine. Aggregate volumes of Russian crude slumped by 820,000 barrels a day, or 22%, to 2.98 million in the week to Jan. 20, giving up …
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The Dutch government is set to stop production at the Groningen gas field later this year, the state secretary for the extractive industries, Hans Vijlbrief, told the Financial Times. The site is already producing only a fraction of its capacity, and it is “very dangerous” to keep operating it, according to the official, RT reported. …
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El-Erian Says Fed Should ‘Go for 50’ Basis-Point Hike at Next Meeting NN: The markets are wishing on a star. Inflation is not over. And as China opens up the US inflation rate by any metric you care to use will hit new highs. And the FED knows this and is not going to lower …
Unipec bought as many as 18 cargoes of Upper Zakum this month It’s clear to me this is indicative of a wider demand rebound China’s biggest oil trader Unipec has piqued market interest after some unusual crude buying as investors and analysts seek clues on the pace of recovery in the world’s top importer. Unipec, …
Existing home sales drop 1.5% in December Sales fall 17.8% in 2022, sharpest annual decline since 2008 Median house price rises 2.3% from year ago WASHINGTON, Jan 20 (Reuters) – U.S. existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious hope that the embattled housing market could be …
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Here is a list of the growing shit storm. These are high paying jobs. Remember the Wall Street trickle trick. Announce layoffs in dribs and drabs…… This is the worst i have seen since the 2008 wipeout. It reminds me of the tech wreck! And its just the start! Alphabet/Google Job losses: Around 12,000 staff …
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Federal Reserve policymakers were out in force (6 of them to be precise) signaling they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5% even as inflation shows signs of having peaked and economic activity is slowing. “I just think we need to keep going, …
Continue reading “Fed policymakers call for further rate hikes to beat inflation”
Asshole video: U.S. crude stockpiles had another multi-million barrel build last week, trade group API said Wednesday, bucking market expectations for a drop in inventories for a second week in a row amid questionable energy demand during an unseasonably warm winter. U.S. crude inventories rose by 7.6M barrels during the week ended January 13, the …
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WASHINGTON (Reuters) – U.S. producer prices fell in December as the costs of energy products and food declined, riven by a drop in energy prices that are now reversing The producer price index for final demand decreased 0.5% last month, the Labor Department said on Wednesday. In the 12 months through December, the PPI increased …
Continue reading “US producer prices down 0.5% in December… The critical core PPI rose 4.6% YOY”