New home sales in the United States decreased by 12.6% in July compared to the previous month. The sales dropped by 29.6% compared to July 2021, according to the report published by the United States Census Bureau on Tuesday. On a month-to-month basis, the biggest decrease was in the Midwest with a drop of 20.6%, …
President Joe Biden’s administration is reportedly rewriting its National Security Strategy, which the White House is required to send to Congress annually, to account for the lessons of the war in Ukraine. One issue that this document will have to grapple with outside its traditional focus on statecraft and diplomacy: food. The conflict in Ukraine has …
United States Flash PMI Composite Output Index in August stood at 45.0, staying in the contraction territory, S&P Global revealed in its report released on Tuesday. The figure was the lowest in the past 27 months. In addition, Flash US Services Business Activity Index was also at a 27-month low in August, with the …
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Gas Infrastructure Europe (GIE) said on Tuesday that Germany has so far managed to fill more than 80% of its natural gas storage capacity, surpassing its target of 75% for September this year. The target for October 1 is to fill at least 85% of its gas storage capacity, while by November 1 it aims …
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US natural gas futures rose more than 2% on Tuesday, reaching $10 for the first time since 2008 amid continued concerns over supply disruption due to the Ukraine crisis and the global economic outlook. In its latest report, the Energy Information Administration (EIA) said gas stocks were 296 billion cubic feet (bcf) lower and 367 …
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Crude oil prices rose as concerns over supply stirred the market stability on Tuesday, following Tehran’s claims that Washington is delaying efforts to revive the Joint Comprehensive Plan of Action (JCPOA). Meanwhile, the allegations were refuted by the United States, noting that the apparent flexibility of Iran in negotiations had brought the deal closer than …
Prince Abdulaziz bin Salman prepared the market for a new round of production cuts. The Prince described the markets as being in a state of “schizophrenia”. Prince Abdulaziz: “Spare capacity is severely limited and the risk of severe disruptions remains high,”. Citing “disconnect” in the oil futures market, Saudi Energy Minister Prince Abdulaziz bin Salman …
Continue reading “Saudi Minister Says OPEC+ Could Cut Production At Any Time”
The Dow Jones Industrial Average index dropped over 650 points on Monday after recent remarks by Federal Reserve officials sparked concerns about the possibility that the United States economy may end up in a recession due to strong monetary tightening measures. The Dow Jones plummeted 1.90% or 640 points, pulled down by Intel, Salesforce and …
Continue reading “Stocks Heading Toward Worst Selloff Since June: Markets Wrap”
The euro retreated against the US dollar on Monday to a five-week low to $0.99941 at 10:00 am CET, continuing in this way a downtrend that started days ago after the publication of the minutes of the Federal Open Market Committee (FOMC) meeting. Market participants are reacting to the fact that Federal Reserve policymakers may …
(Bloomberg) — A sober warning for Wall Street and beyond: The Federal Reserve is still on a collision course with financial markets. Stocks and bonds are set to tumble once more even though inflation has likely peaked, according to the latest MLIV Pulse survey, as rate hikes reawaken the great 2022 selloff. Ahead of the …