Federal Reserve Chairman Jerome Powell came close to acknowledging that the central bank may not have the firepower to fight the next recession and called on Congress to get ready to help. The current low level of interest rates “means that it would be important for fiscal policy to support the economy if it weakens,” …
Continue reading “Powell suggests Fed might lack ammo to combat next recession”
Nick Note: Hear from the Pompus Prick! He let it slip… he said demand destruction… then he predicted $63 Brent. OK ill take the money and run Then hear from another ASSHOLE from one of my favorite sleaze investment banks Cities Morse. He says $60 oil is a wonderland. He goes on to predict $47 …
Continue reading “OPEC cuts forecast as virus dents China’s oil demand”
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.5 million barrels from the previous week. At 442.5 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year. U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the …
Continue reading “EIA Weekly Petroleum Data for the week ending February 7, 2020”
LONDON (Reuters) – OPEC on Wednesday cut its forecast for global growth in oil demand this year due to the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact. In a monthly report, OPEC said 2020 demand for its crude will average 29.30 million barrels per day …
Continue reading “OPEC says coronavirus to trim 2020 oil demand as it weighs deeper cut”
SINGAPORE (Reuters) – The coronavirus epidemic may be peaking in China where it was first detected in the central city of Wuhan but it is just beginning in the rest of the world and likely to spread, a global expert on infectious diseases said on Wednesday. The Chinese government’s senior medical adviser has said the …
Continue reading “Coronavirus outbreak ‘just beginning’ outside China, says expert”
(Bloomberg) — Americans increased their borrowing for the 22nd straight quarter as more households took out loans to buy homes or refinance existing mortgages, according to a report released today from the Federal Reserve Bank of New York. Total U.S. household debt rose by $601 billion in the fourth quarter from a year earlier, or …
Continue reading “U.S. Household Debt Exceeds $14 Trillion for the First Time”
The API reported on Tuesday a crude oil inventory build of 6-million barrels. Last week saw a build in crude oil inventories of 4.18-million barrels, according to API data. Inventor builds are normal this time of year as we get to the slowest demand time of year. The API this week also reported a build …
Continue reading “The American Petroleum Institute (API) report for the week ending February 7”
BEIJING/SINGAPORE (Reuters) – China reported on Wednesday its smallest number of new coronavirus cases since January, lending weight to a prediction by its top medical adviser for the outbreak to end by April, but a global diseases expert warned of the spread elsewhere. Financial markets took heart from the outlook of the Chinese official, epidemiologist …
Continue reading “Coronavirus cases fall, experts disagree whether peak is near”
A top Chinese Government virologist well known for his role in fighting against the SARS, says the coronavirus outbreak will reach its peak in February The WHO raised the coronavirus alarm on Tuesday but China’s top virologist claims the outbreak will peak in February. Top Chinese scientist believes the coronavirus outbreak will peak in February. …
Continue reading “China’s Top Virologist Makes Bombshell Coronavirus Claim”
DEVASTATING footage shows coronavirus patients being welded inside their homes and “left to die” as China battles to contain the fatal disease. Coronavirus patients WELDED into homes in China as death toll spirals to over 1000. In shocking clips posted on social media, masked men are seen blasting torches as they seal doors imprisoning sick …
Continue reading “Another Leaked Video Chinese WELDING SHUT apartment buildings residents inside”