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U.S. Navy Jet Flew Across Baltic Nord Stream Burst Area…. Biden threatened to “end Nord Stream if Russia invaded Ukraine”

OSLO/PARIS/WASHINGTON (Reuters) – A U.S. Navy reconnaissance aircraft flew near the site of the ruptured Nord Stream 2 pipeline in the Baltic Sea hours after the first damage emerged, according to tracking reviewed by Reuters, a flight Washington said was routine. Russia’s Nord Stream 1 and 2 pipelines burst on Sept. 26, draining gas into the Baltic Sea off the coast of Denmark and Sweden. Seismologists registered explosions in the area, and police in several countries have launched investigations. Flight data showed a P-8A Poseidon maritime patrol and reconnaissance plane was over the North Sea at 0003 GMT when Swedish seismologists registered what they later described as a subsea blast southeast of Bornholm Island in the Baltic Sea. The plane, which had flown from Iceland, performed a pattern of regular racetrack-shaped circuits over Poland before breaking away towards the Baltic pipeline area, data showed. The identity of the plane could not immediately be established because of the type of rotating identification code sometimes used by such planes, but the U.S. Navy confirmed it was an American aircraft when presented with data by Reuters.

“The U.S. Navy P-8A Poseidon aircraft shown in the tracking data conducted a routine Baltic Sea maritime reconnaissance flight, unrelated to the leaks from the Nord Stream pipelines,” a U.S. Navy spokesperson said.

    Asked if any of the intelligence gathered might help investigators looking into the pipeline ruptures, U.S. Naval Forces Europe-Africa spokesperson, Capt. Tamara Lawrence said: “We do not have any additional information to provide at this time.” It’s unclear what role, if any, the U.S. military is playing to aid European investigations into the ruptures of the pipelines, although President Joe Biden has spoken about eventually sending down divers. According to the data, several minutes past 0100 GMT the plane flew south of Bornholm heading to northwestern Poland, where it circled for about an hour above land before flying at around 0244 GMT to the area where the gas leak was reported. It came as close as some 24 kms (15 miles) to the reported leak site, circled once and flew towards the Russian exclave of Kaliningrad, a frequent focus for surveillance, analysts say. Polish, Swedish, Danish and German ministries of defence were not immediately available for comment. There is flight data missing between 0339 GMT and 0620 GMT, but on its way back, around 0700 GMT, the plane flew some 4 kms north of the reported leak site. Reuters used a partial flight map from U.S.-based tracking website Radarbox complemented by data provided to Reuters by Sweden-based Flightradar24 to reconstruct the P-8’s path.  Flightradar24 data showed the plane taking off and landing at Reykjanes peninsula in southwestern Iceland, where Keflavik Air Base is located along with reported P-8 hangar facilities. The data emerged as the Baltic remains a front for Cold War-style tensions in the aftermath of Russia’s invasion of Ukraine, according to analysts who caution it is impossible to establish with certainty the reason behind specific military flight paths. “The Baltic is a very active sphere of confrontation with lots of probing and an endless chess game,” said UK-based defence analyst Francis Tusa.

In this tape below Biden threatens “iF Russia invades THE UKRAINE their will NO LONGER BE A North Stream ”  He said it, he meant it and he did it. HEAR HIM FOR YOURSELF

NN:

 

 

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US to relax sanctions on Venezuela, boosting oil production – report

  • The US is looking at easing sanctions on Venezuela so that Chevron can pump more oil there, per the WSJ.
  • The proposed deal comes after OPEC+ agreed to cut daily oil production by 2 million barrels a day.
  • One analyst told Insider the deal could bring a “substantial” amount of oil to the market.

The White House is looking at relaxing some sanctions on Venezuela so that Chevron can pump more oil there, The Wall Street Journal reported Wednesday, citing people familiar with the proposal.The news comes after OPEC+ shrugged off US calls for its crude producers not to cut output, prompting a fierce response from the Biden administration. If the proposed deal becomes reality, Chevron and other US oil companies would be allowed to operate in Venezuela again, the WSJ reported. OPEC and its allies agreed Wednesday to slash oil production targets by 2 million barrels a day from November, despite a behind-the-scenes push by the Biden administration to persuade them otherwise. Analysts called the decision a political blow against the president. The White House is concerned the cuts could drive up gasoline prices for American drivers ahead of the midterm elections, and could give Russia’s battered economy a boost. It called the OPEC+ move “shortsighted”, and one US official said the administration was “having a spasm and panicking,” CNN reported. “It’s clear that OPEC+ is aligning with Russia with today’s announcement,” White House spokesperson Karin Jean-Pierre said, per media reports. The White House did not immediately respond to an Insider request for comment. Many analysts say OPEC+ is more focused on bolstering crude prices, which have trended lower in recent months thanks to worries a looming global recession could hit demand for oil. It’s not clear how much oil could enter the market if the deal goes through, as Venezuela’s oil industry has been hurt by underinvestment and mismanagement, OANDA analyst Craig Erlam told Insider. The amount could be substantial, he said, pointing to a US-led effort to limit the price paid for Russian oil and oil products. “Any deal could provide some relief in the market at a time when a price cap on Russian crude threatens its output levels and OPEC+ is intent on squeezing the market,” he said. The proposed deal between the US and Venezuela would ease the sanctions in return for political concessions from President Nicolás Maduro’s government, the WSJ reported. His regime would need to rekindle suspended talks with its political opposition about free and fair presidential elections, it said. But US officials warned the deal could still fall through, if Maduro’s government doesn’t follow through. In addition, the White House said it has no plans to change its policy on sanctions against Venezuela without “constructive steps” by the country’s regime, Reuters reported. “Our sanctions policy on Venezuela remains unchanged. We will continue to implement and enforce our Venezuela sanctions,” Adrienne Watson, a National Security Council spokesperson, said in a statement to Reuters. Talks between the US and Venezuela on easing sanctions, begun by the Trump administration in 2019, have been in progress since Russia invaded Ukraine as the US looked to secure new sources of energy. Both countries held their first high-level bilateral talks in years on March 5. which involved discussions on a temporary easing. NN: Here is a news flash. Venezuela has no oil to sell. It would takes years and billions to gear up. Their oil infrastructure is in shambles.  If they want fast readily available oil open the keystone which is 90% and could be operational in a matter of months…..

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Jobless Claims Rise to 219,000, More Than Expected

The number of Americans filing for first-time unemployment claims climbed last week more than expected, which is welcomed in a “bad news is good news” environment. Initial jobless claims climbed to 219,000, the highest level since late August, in the week ended Oct. 1. That’s above economists’ estimates for 203,000, according to FactSet. The four-week average was 206,500, an increase of 250 from the previous week’s revised average. The previous week’s level of jobless claims was revised down to 190,000 from 193,000. The increase in jobless claims was good news for the market. Investors have been hoping for a cooling in the labor market in hopes that it will sway the Federal Reserve to be less aggressive in its hiking of interest rates to try and battle red-hot inflation. Even more crucial jobs data will be released Friday with the monthly jobs report for September. Economists surveyed by FactSet expect the U.S. to have added 250,000 jobs last month, down from 315,000 in the prior month. The unemployment rate was forecast to remain at 3.7%. NN: another sign the FED rate increases are starting ti bite.

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Crude prices rise over 2% after OPEC+ decision

OPEC+ to cut oil production by 2 million barrels per day to shore up prices, defying U.S. pressure
  • OPEC and non-OPEC partners on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in oil prices despite U.S. pressure to pump more.
  • Crude prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession.

A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy. OPEC and non-OPEC allies, a group often referred to as OPEC+, decided at their first face-to-face gathering in Vienna since 2020 to reduce production by 2 million barrels per day from November. Energy market participants had expected OPEC+, which includes Saudi Arabia and Russia, to impose output cuts of somewhere between 500,000 barrels and 2 million barrels. The move represents a major reversal in production policy for the alliance, which slashed output by a record 10 million barrels per day in early 2020 when demand plummeted due to the Covid-19 pandemic. The oil cartel has since gradually unwound those record cuts, albeit with several OPEC+ countries struggling to fulfill their quotas. Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession. The production cut for November is an attempt to reverse this slide, despite repeated pressure from U.S. President Joe Biden’s administration for the group to pump more to lower fuel prices ahead of midterm elections next month.  International benchmark Brent crude futures traded at $92.82 a barrel during Wednesday afternoon deals in London, up around 1.1%. U.S. West Texas Intermediate futures, meanwhile, stood at $87.37, almost 1% higher. The White House said in a statement that Biden was “disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine.” It said that Biden had directed the Department of Energy to release another 10 million barrels from the Strategic Petroleum Reserve next month. “In light of today’s action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices,” the White House said. The statement added that the OPEC+ announcement served as “a reminder of why it is so critical that the United States reduce its reliance on foreign sources of fossil fuels.” To be sure, the burning of fossil fuels, such as coal, oil and gas, is the chief driver of the climate emergency.

Speaking at a news conference, OPEC Secretary-General Haitham Al Ghais defended the group’s decision to impose a deep output cut, saying OPEC+ was seeking to provide “security [and] stability to the energy markets.” Asked by CNBC’s Hadley Gamble whether the alliance was doing so at a price, Al Ghais replied: “Everything has a price. Energy security has a price as well.” Energy analysts said the actual impact of the group’s supply cuts for November was likely to be limited, with unilateral reductions by Saudi Arabia, the United Arab Emirates, Iraq and Kuwait likely to do the main job. What’s more, analysts said it is currently difficult for OPEC+ to form a view more than a month or two into the future as the energy market faces the uncertainty of more European sanctions on non-OPEC producer Russia — including on shipping insurance, price caps and reduced petroleum imports. “In its own words, OPEC’s mission is to ensure an adequate pricing environment for both consumers and producers. Yet the decision to reduce output in the current environment runs counter to this objective,” Stephen Brennock, a senior analyst at PVM Oil Associates in London, said in a research note. “Further squeezing already-tight supplies will be a slap in the face for consumers. The selfishly motivated move is aimed purely at benefiting producers,” he added. “In short, OPEC+ is prioritising price above stability at a time of great uncertainty in the oil market.” Rohan Reddy, director of research at Global X ETFs, told CNBC that the group’s decision to impose production cuts could see oil prices rally back to $100 a barrel — assuming no major bouts of Covid globally and the U.S. Federal Reserve not becoming unexpectedly hawkish. “Due to the decision, volatility will likely return to the market, and despite concerns about the resilience of the global economy, the oil market is tight, all of which should serve as a tailwind for prices in the fourth quarter,” Reddy said. NN: Lets be clear here. The only option is to kiss OPEC’S ass. The only question is before or after the fastly shrinking strategic stockpile is fully depleted. SEE the option of ramping up US production is no longer available since the liberal lefties under Biden shit all over the US oil industry. It will take 5 years to ramp up production. That is when and if they realize that man created global warming is not real and the fact is  their is no climate emergency. It gets down to societies that believe the world is in a immeniate  climate emergency necessitating a ban on fossil fuels and mining and farming will destroy themselves. AND the ones smart enough to bring fossil fuels into production, Open up mining and letting farm rip lose will prosper.

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OPEC+ JMMC agrees to cut oil output by 2M bpd

A panel of OPEC+ ministers recommended a cut to the group’s output limits of 2 million barrels day as they seek to halt a slide in oil prices caused by the weakening global economy.  The recommendation from the cartel’s Joint Ministerial Monitoring Committee will be discussed by ministers later on Wednesday before they make a final policy decision, delegates said, asking not to be named because the information is private. If the full meeting of the Organization of Petroleum Exporting Countries and its allies ratify the proposal, it would have a smaller impact on global supply than the headline number suggests because several countries are already pumping well below their quotas. That means they would already be in compliance with their new limits without having to reduce production.  A reduction of 2 million barrels a day in the group’s output target, shared pro rata, would require just eight countries to reduce actual production and would deliver a real cut of only 880,000 barrels a day, according to Bloomberg calculations based on September output figures. It would still be the biggest OPEC+ production cut since 2020, a move that risks adding another shock to a global economy that is already battling inflation driven by high energy costs.  Oil prices rose 0.6% in London to $92.37 a barrel as of 2:21 p.m.  The move would also irk the US — and potentially trigger a response from Washington. President Joe Biden visited Saudi Arabia earlier this year in search of higher production and lower pump prices for Americans ahead of mid-term elections in November. Earlier on Wednesday, US officials were making calls to counterparts in the Gulf trying to push back against the move to cut production, according to people familiar with the situation.

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Wall Streets new way to fuck investors LDI’s

LONDON, Oct 4 (Reuters) – The Bank of England intervened in the UK government bond market to rein in gilt yields, which rocketed after Britain unveiled a welter of tax cuts to be funded by borrowing on markets. It shone a light on a little-known corner of Britain’s pensions sector – liability-driven investment or LDI.

Defined benefit pensions have to make sure that their assets, such as stocks and bonds, can generate enough cash to meet liabilities – the monthly payouts guaranteed to pensioners.

LDI is a popular product sold by asset managers like BlackRock, Legal & General and Schroders to pension funds, using derivatives to help them “match” assets and liabilities so there is no risk of shortfall in money to pay pensioners. LDI was worth about 400 billion pounds ($453 billion) in 2011, quadrupling to 1.6 trillion pounds by 2021, according to the Investment Association. Pension funds have to post cash as collateral against their LDI derivatives in case they turn sour. The amount of cash needed rises and falls in tandem with values of the underlying assets tracked by the derivatives, which are a type of ‘insurance’ contract for guarding against unexpected moves in markets. Interest rates have been on the way up for months as central banks hiked borrowing costs in a well-flagged manner, giving pension funds time to adjust and find collateral over several days. But when UK bond yields rocketed in just days, it triggered emergency collateral calls for pension funds to cover their LDI-related derivatives in a matter of hours as rising yields mean the value of bonds falls.

Pension funds struggled to find the cash in such a short time, forcing some to sell gilts, thereby putting further downward pressure on the bond market.

To avoid instability in markets, the Bank of England stepped in to buy gilts worth 65 billion pounds, sending yields lower and taking pressure off the pension funds. Even after Bank of England intervention, the yield on the benchmark 30-year government bond finished September 75 basis points higher than its closing level in August, the biggest monthly rise since 1994. The BoE is due to turn off the taps on Oct. 14, meaning pension funds have some breathing space to rejig their LDI strategies and build up their cushion of cash for any further collateral calls.

Pension funds are a cornerstone of the economy, helping scoop up huge amounts of stocks and bonds issued by companies that need cash to operate and grow.

LDI has worked in times of steady markets and rates, but has been found wanting when markets move suddenly, potentially freezing pension funds. While such a rise in UK gilt yields was a rare event, regulators like the Bank of England will take a closer look to see if changes are needed to LDI.

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Stocks See Short Squeeze With Fed Rate Debate

  • Treasury yields drop in reversal of surge in previous weeks

Oil rallies second day as OPEC+ considers larger output cut Stocks continued to recover from oversold levels, with traders weighing renewed speculation that global central banks could moderate their aggressive policies to prevent a hard landing. A rally in the S&P 500 put the gauge on track for its best two-day surge since April 2020. On top of the obvious short squeeze, another poor economic reading moved markets Tuesday. US job openings sank to a 14-month low — which may fit well with a Federal Reserve that’s extremely concerned about a hot jobs market. NN: The world came very close to a Lehman Moment. The surge in treasury rates world wide put the global financial system on the edge of the abyss.  As you remember in the last financial crises its was credit default swaps. The latest tricky dickey invention by the fraudsters on wall street is a instrument called the LDI… Liability Driven Investment. This product right out of the pit of hell allows the funds and banks appear to have more government securities then they actually have… Its another away around their capital requirements. It gives them a tool to take more of their customers money and roll the dice is stock market and junk bond losing trades….. See story and blog:  Wall Streets new way to fuck investors

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Dow jumps by more 750 points amid data…….. US job openings down to 10.1 million in August

 

Major stock market indexes in the United States continued to collect gains on Tuesday shortly after the opening, with the Dow Jones Industrial Average soaring by 800 points. The developments in the market reflected investors’ expectations regarding several important economic reports that are to be released throughout the week, including the ones on initial jobless claims and job cuts. The Dow surged by 2.56% or 761 points at 10:02 am ET. At the same time, the Nasdaq 100 went up by 3.15% or 353 points. A minute later, the S&P 500 gained 2.83% or 104 points. The euro grew by 1.27% against the dollar to sell for $0.99478 at 10:03 am ET.

US job openings down to 10.1 million in August

Job openings in the United States fell in August when compared to the previous month to stand at 10.1 million, down by 1.1 million, the country’s Bureau of Labor Statistics shared in a report on Tuesday. The job openings rate declined on a monthly basis to 6.2%. The Job Openings and Labor Turnover Survey (JOLTS) revealed that the number of hires, as well as the rate of hires, was almost unchanged at 6.3 million and 4.1%, respectively. The number and rate of total separations were little changed in August, at 6.0 million and 3.9%, respectively. Overall separations increased in accommodation and food services by 175,000. The quits rate was unchanged at 2.7%, alongside the layoffs and discharges rate, which were little changed at 1.0%.

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Dow up 450 pts premarket with rate hikes in spotlight

Wall Street rose in the premarket on Tuesday after the Monday session represented the strongest performance for some United States stock markets in at least two months. Yesterday’s optimism was seemingly sparked by a notion that the Federal Reserve could slow down the pace of interest rate hikes in light of weaker economic data. Investors will assess jobs and factory data due to come out following the start of the trading session on Tuesday. The Dow Jones Industrial Average index climbed 1.59%, or 470 points, at 4:00 am ET. The Nasdaq 100 was up 1.82% and the S&P 500 grew 1.71% at the same time. The euro rose by 0.52% against the dollar, changing hands for 0.98765 at 3:59 am ET. NN: Remember me. I was very specifice in telling you that the bottom was in key markets and gave you trades. I could give a ratts ass how much i lose waiting for a move that i know fundamentially, technically and the little voice inside tells me is coming.

To be specific:

In oil: that latest swoon in Brent crude to $82.50 area in oil i told you i thought it was a significant bottom. In fact I had you lower your stops and urged you to not miss your average points. As i write this oil is close to $90 a barrel up almost 8 bucks. OPEC is going to cut production and it is going to be a long cold winter.

I told you when every swing dick and big nipples titties trading a trillion dollars of someone else’s retirement money was short i cannot help myself i have to go the other way. Those fucks are always wrong.

In the Dow: I was very specific that i expected the 27,800 low to hold. In the premarket the Dow is over 30,000

S&P 500:  3600 was the predictable low confirming the June 16 bottom……. And now trading over 3700

NASDAQ 100: I still have the red line on my chart predicint the bottom at 11,000. In fact we sent out a trade alert. The market is now trading over 11,400

Euro USD: The 95550 bottom is in is now trading over .9800.

Pound USD: has put in a bottom at 1.04.

Treasuries: a After having you not bother buying treasures at near ZERO rates for two year.  I finally put you in near 4%. I pity the fools and their were a hole lot of swinging dicks and hard nipped big titties that locked in rates for years at near ZERO. Many pension funds have lost 30% in the stock market crash and 70% in bonds. How do you Spell Stupid….. wallStreet!!

Please Note: The wipe out in the British guild CDO’s because of a too rapid rise in rates has the FED shitting all over their pin stripped suits. They will relent….. For Now….. What is called the taper.

 

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Oil jumps 3% as OPEC proposes cuts of 1 million barrels a day

This will be OPEC+ biggest output cut since 2020

SINGAPORE (Reuters) -Oil prices jumped more than 3% in early Asian trade on Monday, as OPEC+ considers cutting output by more than 1 million barrels a day for its biggest reduction since the pandemic, in a bid to support the market. Brent crude futures rebounded $2.51, or 3%, to $87.65 a barrel by 0206 GMT, after settling down 0.6% on Friday. U.S. West Texas Intermediate crude was also up 3%, or $2.39, at $81.88 a barrel, after the previous session’s loss of 2.1%. Oil prices have tumbled for four straight months since June, as COVID-19 lockdowns in top energy consumer China hurt demand, while rising interest rates and a surging U.S. dollar weighed on global financial markets.

To support prices, the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, is considering an output cut of more than 1 million bpd ahead of Wednesday’s meeting, OPEC+ sources told Reuters.

If agreed, this will be the group’s second consecutive monthly cut after reducing output by 100,000 bpd last month. However, OPEC+ missed its production targets by nearly 3 million bpd in July, two sources from the producer group said, as sanctions on some members and low investment by others stymied its ability to raise output. “Anything less than 500,000 barrels a day would be shrugged off by the market. Therefore, we see a significant chance of a cut as large as 1 million barrels a day,” ANZ analysts said in a note. While prompt Brent prices could strengthen further in the immediate short term, concerns over a global recession are likely to limit the upside, consultancy FGE said. “If OPEC+ does decide to cut output in the near term, the resultant increase in OPEC+ spare capacity will likely put more downward pressure on long-dated prices,” it said in a note on Friday. Also on Friday, China issued its biggest quota for exports of oil products this year and topped up crude import quotas for independent refiners. State and private refiners can export as much as 15 million tonnes of gasoline, diesel, jet fuel and low-sulphur fuel oil, adding much needed supplies into global markets to replace Russian exports the European Union embargoed in February. However, analysts and traders said some of China’s exports were likely to spill over into early 2023 as refiners will need time to ramp up. NN: Several things are about to happen all favorable to our oil trade. OPEC will cut output by 1 million BPD. A very very cold winter is coming. AND the US release of oil from the strategic reserve will end… Because they are running out of oil. In other words they blew their wad!