Homebuyers have faced a dilemma during the pandemic: Swallow rapid price increases and forgo typical steps like house inspections, or risk getting left out of the real estate market. Those dynamics have caused some observers to question whether the U.S. is repeating the housing bubble of the early 2000s, which led to a painful housing …
OPEC Secretary General Haitham al-Ghais said on Wednesday that the organization is ready to “intervene for the benefit of oil markets”, Saudi-owned Al-Arabiya TV reports, citing Ghais as saying that OPEC is aware, cautious and monitoring economic developments worldwide. In early October, OPEC+ announced plans to reduce oil production by 2 mb/d in November 2022 …
The Federal Open Market Committee may need to push through one or more 50-basis-point interest rate hikes this year to get inflation under control, Fed Governor Christopher Waller. “I really favor front-loading our rate hikes, that we need to do more withdrawal of accommodation now if we want to have an impact on inflation later …
Ukrainian President Volodymyr Zelensky claimed on Wednesday that he has “no doubt that it was not our missile or our missile strike” that resulted in an explosion that killed two Polish civilians yesterday. He told reporters that he believes that Russia launched the missile in question, citing Ukrainian military reports that he “can’t help but …
The U.S. Energy Information Administration reported an inventory decline of 5.4 million barrels for the week to November 11. This compares with an inventory build of 3.9 million barrels for the previous week, which pushed prices lower last week. In fuels, the EIA reported inventory builds. Gasoline inventories added 2.2 million barrels over the week …
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Fed’s Daly: Range of 4.75%-5.25% is reasonable for policy rate end-point San Francisco Fed President Mary Daly said on Wednesday that the Federal Reserve wants to see the economy slow as it attempts to get it “back to a sustainable pace of growth.” She added that consumers are “stepping back” and preparing for a slowdown, …
The newly-spun off Siemens Energy aims to be the “go to institution for combating climate change” with the scale to lead on- and offshore wind markets, said its CEO-designate who added that “the jury’s out” on the role of large-scale gas in the new company. The pure-play energy business will have the focus needed to …
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Lower demand forecasts could materialize if China doesn’t fully reopen. The European Union is preparing to implement an oil import embargo on Russian crude oil next month and on fuels two months later. Bets on $200 oil are increasing at a fast pace. A week ago, the U.S. Energy Information Administration cut its crude …
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Accident my ass. It was indeed a Russian missle. Just because it was not fired from”Russia”…. it WAS fired from Russian controlled territory in the besieged Ukraine.In fact they ha ha ha ha fired by “accident” not one but two missiles!!! President Joe Biden called an “emergency” meeting of G7 and NATO leaders in Indonesia …
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I believe its premature to declare the war on inflation over never mind won. Today’s PPI report was UP: Producer prices in the United States increased by 0.2% in October compared to September, the Bureau of Labor Statistics said in a report on Tuesday. Compared to October 2021, the Producer Price Index (PPI) rose …
Continue reading “US producer prices grow by 0.2% in October…..”