What went wrong? The American Petroleum Institute (API) reported a huge draw this week for crude oil of 6.53 million barrels. U.S. crude inventories have grown by roughly 25 million barrels so far this year, according to API data, while the U.S. Strategic Petroleum Reserves fell by more than seven times that figure, at 194 …
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Hospitalizations are rising again in New York City with the spread of new COVID-19 subvariants that are better at evading immunity. Cases of flu and respiratory syncytial virus, or RSV, are also increasing. State data show about 1,100 patients hospitalized with COVID as of Oct. 24, up from 750 in mid-September, as the New York …
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Saudis warn US about ‘imminent’ attack by Iran – report Saudi Arabia recently warned the US of an imminent attack by Iran on targets in the kingdom and in Erbil, Iraq, the Wall Street Journal reported on Tues The US military and other militaries in the Middle East have raised their alert level in response …
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Job openings hit 10.7M despite Fed attempts to cool economy WASHINGTON (AP) — U.S. job openings rose unexpectedly in September, suggesting that the American labor market is not cooling as fast as the inflation fighters at the Federal Reserve hoped. Employers posted 10.7 million job vacancies in September, up from 10.3 million in August, the …
OPEC Secretary General Haitham al-Ghais shared on Tuesday, writing for the Financial Times, that “mixed messages” are to blame for the lack of investment in oil, as countries are pushing oil and gas producers to ensure energy market stability and supply, while at the same time pledging to “end financing in fossil fuel projects.” Al-Ghais …
If the US wont give them nukes their is always Russia The Biden administration says it will not “waste time” on trying to revive talks with Iran regarding its dormant nuclear deal in light of Tehran’s brutal crackdown on antigovernment protesters and its support of Russia in its war against Ukraine. While speaking at an …
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While hopes for a less aggressive Federal Reserve helped US stocks overcome last week’s flurry of disappointing earnings from tech giants, JPMorgan Chase &. Co.’s trading desk now sees room for a massive rally should policy makers turn dovish when they announce their decision on Wednesday. The S&P 500 could surge at least 10% in …
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https://youtu.be/6uidw9LsYNU ABU DHABI (Reuters) – OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil …
Russian President Vladimir Putin says the world faces the most dangerous decade since World War II and predicted that the historical period of the West’s “undivided dominance over world affairs” is coming to an end. Speaking at a conference of international policy experts in Moscow, Putin said the decade ahead is “probably the most dangerous, …
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The prices of oil futures fell on Monday coincidently after the publication of a new batch of economic data in Asia and the likely contraction in demand amid widening COVID-19 curbs. Earlier, the China Federation of Logistics and Purchasing (CFLP) said that the country’s manufacturing sector fell back into contraction territory in October. China’s National …