Tag Archives: biden

China’s economic problems, especially its slow growth, have been referred to as a “ticking time bomb” by US Vice President Joe Biden, who misspoke about the growth rate of the nation. The Chinese foreign ministry has not responded to Biden’s comments, but he did not intend to offend China and …

The International Energy Agency said on Thursday that oil demand will rise to a record level this year as supply tightens, but in light of adverse economic conditions and interest rate hikes, the increase will be slightly smaller than expected. However, the Paris-based agency expects demand growth next year to …

President Joe Biden’s administration announced Friday it’s purchasing 6 million more barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. The purchases, scheduled for October and November, come as the nation’s oil reserve is at its lowest point in 40 years …

US President Joe Biden said that the federal tax system will eliminate loopholes for crypto traders. Bitcoin price held above the $30,000 psychological level, undeterred by Biden’s speech. The most famous crypto asset is trading around $30,005 at the time of typing. The Wall Street Journal has previously reported on …

The International Energy Agency (IEA) claimed in its latest oil market analysis, published on Wednesday, that “global oil demand will grow by 2.4 million bpd this year, to a record 102.3 million bpd.” The shift to a clean energy economy is picking up pace.A peak in global oil demand is …

Dubai TV interviewed Mohammed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, to comment on the most important developments in financial markets in the previous week.US Debt Ceiling DealHashad began commenting on the breakthrough of the US debt ceiling crisis. …

Financial assets’ price moves along past week have been led by a number of major developments most notably: the US non-farm payrolls data shortly after the US debt ceiling deal, as well as the European inflation data.Oil Prices Hope For More Optimism Oil prices rallied for the second day on …

The debt ceiling agreement reached by US President Biden and House Speaker Kevin McCarthy is encountering difficulties, which is negatively affecting market sentiment. US markets ended with mixed results, as Treasury yields dropped significantly. Economic Data Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer …

WTI falls for the second consecutive trading day on concerns about the passage of the US debt-ceiling bill and conflicting statements from oil producers. Some Republicans express reluctance to pass the debt-ceiling pact, raising fears about the US government’s ability to meet its financial obligations.WT crude oil benchmark retreats for …

Tuesday is likely to see bigger market moves after a quiet Monday. Following an agreement in principle between US President Biden and Speaker Kevin McCarthy to raise the debt limit for two years, there was more activity over the weekend than on Monday. Key Developments The debt related compromise must …