On Friday, European markets mostly fell after mixed trading in Asia and ahead of an expected lower US open. Traders have recognized that concerns about the cost of living as well as further recession-related fears are still elevated as investors digested relatively gloomy data.Data released Friday showed German producer prices …
Read More »US oil inventories rose by 1.9 million barrels
The American Petroleum Institute said that crude oil inventories rose by 1.9 million barrels in the week ending on the fifteenth of July. The weekly report of the American Institute revealed that gasoline stocks rose by 1.3 million barrels last week, while distillate stocks decreased by 2.2 million barrels. The …
Read More »Fed’s Daly: Not concerned about debate on rate hikes
San Francisco Fed President Mary Daly said on Friday that she is not concerned above “over cooking things” on rate hikes. Daly also noted that US consumers continue to spend and that the labour market is still robust.However, Daly mentioned that “Inflation is too high” and that the Fed is …
Read More »Institute of Petroleum data shows a decline in US oil stocks and an increase in fuel stocks
Sources told Reuters, citing figures from the American Petroleum Institute, that oil stocks in the United States fell last week, while fuel stocks rose. According to the sources, data from the Petroleum Institute showed that crude stocks fell by 3.8 million barrels during the week ending June 24, while gasoline …
Read More »Could NFP Data Rock The US Dollar?
Higher than expected wages increase will boost the American dollar, in this high-probability scenario. However; slower salary gains will likely drag the dollar down. As expected figures will certainly create an opportunity to move against the prevalent trend. Nonfarm Payrolls remain significant despite the focus on inflation – it just …
Read More »Key Points On Biden-Powell Meeting’s Agenda
US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank.Tuesday’s meeting was the …
Read More »Tesla To Celebrate Record Quarter Amid High Fuel Prices
Tesla is expected to announce another record quarter despite industrywide supply-chain woes as the world’s top maker of electric vehicles benefits from high gas prices pushing more buyers toward plug-in models.The company likely delivered 309,158 vehicles globally during the first three months of the year, according to a dozen analysts …
Read More »Oil Recovers Losses As API Reports Large Crude Inventory Draw
The American Petroleum Institute (API) estimated that there was a draw this week for crude oil of 3.0 million barrels, compared to analyst predictions of a 1.558 million barrel draw. US crude inventories have shed 80 million barrels since the start of 2021 and about 23 million barrels since the …
Read More »Discussions On Interest Rate Hikes Continue In Washington
Is US Economy Entering A New Normal? Policymakers are wrestling with the reality that the pandemic may mark a turning point in the nation’s economic plot. The pandemic, and now the war in Ukraine, have altered how America’s economy functions. While economists have spent months waiting for conditions to return …
Read More »WTI Beats USD 100.00 As IEA Restirs Supply Shortage Concerns
WTI crude has climbed near USD 102.00 as IEA renewed fears of supply shortage. The expectation of supply shortage from Russia has already been discounted by investors. The OPEC’s positive response to the urge of US President Joe Biden will fix the demand-supply gap.West Texas Intermediate (WTI), futures on NYMEX, …
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