BUENOS AIRES (Reuters) – Bondholders rejected a debt restructuring proposal by Argentina’s Buenos Aires province and said the offer would likely lead to a default, adding tension to a larger debt crisis plaguing the South American country. The group of bondholders, which holds more than 40% of the province’s external debt, said in a …
Continue reading “‘Default’: creditors reject Argentine debt restructing”
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.0 million barrels from the previous week. At 526.5 million barrels, U.S. crude oil inventories are about 10% above the five year average for this time of year. Nick Bit: This overhang will be quickly absorbed as Gentleman Starts their engines …
Continue reading “EIA: US crude stockpiles down by 5M barrels”
The coronavirus pandemic has reawakened debate about the continued viability of what has been the physical lifeblood of global economies: paper money and coins. (AP) — In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time …
Continue reading “Cash, long a refuge in uncertain times, now under suspicion”
American Petroleum Institute (API) reported on Tuesday a large crude oil inventory draw, of 4.8 million barrels for the week ending May 15.In the previous week, the API estimated a large build in crude oil inventories of 7.58 million barrels. Meanwhile, the EIA’s estimates were for wildly different, with the industry body reporting last week …
Continue reading “Oil Jumps After API Reports Draw In Crude Oil Inventories”
According to different sources and company announcements, U.S. producers – including oil majors – have so far cut production by at least 1.5 mb/d in 2Q20, which is likely to be achieved by shut-ins of higher-cost wells, partial reductions in output of selected wells and the deferral of ‘putting on production’ wells,’’ OPEC said in …
Continue reading “U.S. Shale Cuts Production Deeper And Faster Than Expected”
Defense Secretary Mark Esper declared Friday that a government task force charged with developing a COVID-19 vaccine would have a widely available injection by the end of the year. But a leaked Pentagon memo shows that behind the scenes, senior leadership have been planning for the possibility that the services could be contending with coronavirus …
Continue reading “Leaked Pentagon memo warns of ‘real possibility’ of COVID-19 resurgence”
A spokeswoman for Donald Trump confirmed on Tuesday morning that the US president is taking a malaria drug as a defense against Covid-19, despite his own administration’s warnings that the drug could have dangerous side-effects. The confirmation came hours after the House speaker, Nancy Pelosi, expressed alarm that Trump was taking the drug since he …
Continue reading “Trump: I am currently taking hydroxychloroquine”
Moderna Inc. announced on Monday early-stage trials of the coronavirus vaccine produced positive results so far, adding it expects the final stage of the trials could begin in July. Commenting on the vaccine progress, Moderna’s Chief Medical Officer Tal Zaks revealed that “this interim phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits …
Continue reading “Moderna may begin final stage vaccine trial in July”
