British Prime Minister Boris Johnson said on Wednesday that they are going to have to get used to the idea of revaccinating, as reported by Reuters. “The border policy is measured, proportionate and getting tougher next week,” Johnson said.
Read More »Iraq’s Oil Minister: OPEC+ to Keep Output Policy Unchanged at Next Meeting
Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said on Wednesday that Iraq’s oil exports should average around 2.9 million barrels per day in February, as reported by Reuters. Ismaael added that he expects Brent prices ranging between $58 and $63 and noted that he doesn’t expect OPEC+ to make …
Read More »European Stocks on Positive Side on SocGen Earnings Report
European stocks rose during trading on Wednesday on upbeat quarterly earnings reports from companies including SocGen helped boost optimism about a faster vaccine-led economic recovery this year. The STOXX 600 rose 0.3%, with commodity-related and banking stocks leading the gains. Most of the European indices were higher in early trade. …
Read More »Gold Rises on Dollar Faltering And Stimulus Hopes
Gold rose on Wednesday, February 10, hovering near the peak of a week that it reached in the previous session, as the attractiveness of the yellow metal increased as a hedge against inflation after the dollar fell and hopes for a US stimulus package increased. And gold rose in spot …
Read More »Germany: Inflation Rate at Its Highest Level in 7 Months
Germany recorded an annual inflation rate of 1% in January 2021, in line with preliminary estimates. For January, the annual rate of inflation accelerated from -0.3% to 1.0%, which was also in line with prelim figures. In both November and in December consumer prices had fallen by 0.3% year-on-year. consumer …
Read More »EIA Reduces Its Forecast For Global Oil Demand Growth in 2021
The US Energy Information Administration, on Tuesday, February 9th, reduced its forecast for global oil demand growth in 2021 by 180,000 barrels per day to 5.38 million barrels per day. In its monthly forecast, the administration raised its estimate of oil demand growth in 2022 by 190,000 barrels per day …
Read More »Britain Records a New Decrease in Corona Cases and an Increase in the Number of Deaths
On Tuesday, February 9th, Britian recorded another decrease in the daily number of new cases of COVID-19, despite an increase in the number of deaths. Tests confirmed that 12,364 people were infected with the virus, in the latest daily toll, down from 14,104 cases yesterday, Monday. The number of new …
Read More »Oil Decline Despite an Unexpected Drop in US Inventories
Oil prices fell on Wednesday, February 10, threatening to end the longest rise in two years as investors ignored sector data showing lower US crude oil inventories, boosting optimism about an expected increase in global demand for fuel. Brent crude fell cents to 61.08 dollars a barrel, after increasing about …
Read More »Japan Shares Higher on Bright Prospects For Auto Sector
Japanese shares closed higher in choppy trade Wednesday, February 10, after positive earnings from market leaders Toyota and Honda shed light on an improved global economic outlook. Nikkei’s benchmark rose 0.19% to 29,562.93 points, while cyclical and technology-related consumer stocks led the gains. The broader Topix index increased 0.27% to …
Read More »U.S. Oil Inventories Down 3.5 M Barrels: API
Crude oil inventories in the United States declined by 3.5 million barrels last week, according to the weekly report of the American Petroleum Institute (API) released on Tuesday. During the week ending February 5, gasoline stockpiles rose by 4.8 million barrels, while distillate inventories decreased by 487,000 barrels. It is …
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