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Friday, 16 November 02:46 (GMT -05:00)



Stock and commodities markets

Trump Is Close to His Goal - Oil at $50/b


According to Finanz, President Trump is close to making oil prices drop down to $50/b like never before. Last week was bearish for the global market of crude oil. This happened mainly due to the agreement between the U.S. president and the King of Saudi Arabia.
 
According to international experts, the market of crude oil is currently on the verge of big price moves. In particular, they think there are several factors that can make the oil prices drop all the way down to $50/b. Even though the oil prices are currently recovering a bit and may well continue recovering in the near future, they will eventually go down at some point until November. This prediction has to do with the expectations related to the Cushing oil hub. The thing is that a breakdown in the hub resulted in a massive shrink in the U.S. crude oil inventories (around 70%) all the way down to the lowest capacity since 2014. The capacity is expected to be completely restored closer to November.
 
At the same time, President Trump urged the OPEC to contribute to pushing the oil prices down. The talk between the U.S. President and the King od Saudi Arabia seems to have changed the market bias. Saudi Arabia has been increasing its daily oil production up to the record-high level over the last 4 years along with dropping the export prices for the last 2 months.
 
They say, Saudi Arabia's export capacities make it possible to ship 15 million barrels of crude oil a day. Given the speed at which technology has been developing so far, it would be easy to increase the daily production by 2 million barrels a day, which may drop the prices all the way down to $45/b.
 
At the same time, experts say that Trump is ready to use the USA's strategic oil inventories to achive his goal by exporting even more oil. His administration is already working on it. It's important for him to make the gas in American gas stations cheaper by November when the U.S. Congress preliminary elections are to take place. This is expected to help the Republicans to preserve the majority in the Congress.

 

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Golden Medium: Russia Isn't Concerned About Decreasing Oil Prices

Market Leader reports that the global market of rude oil has been seen a prolonged downtrend after a pretty strong rally seen over a couple of months in a row. Not so long ago, a barrel of Brent oil used to cost 86 dollars. At this point, it costs just 70 dollars. Still, the Russian authorities don't seem to be concerned about this price drop at all. Experts say the see no reason to worry about the situation.
Publication date: 12 November 11:57 AM

Apple's Market Cap Drops Below 1 Trillion Dollars

Apple's market capitalization has dropped below 1 trillion dollars. Market Leader reports that this summer, Apple became the world's first company to reach such a stunning result - market cap over 1 trillion dollars. Apparently, all of that became possible due to higher Apple stock prices.
Publication date: 07 November 02:18 AM

Gold Keeps Losing Its Safe-Haven Asset Status

The amount of political and economic crises keeps on growing in the world but gold is still going down in value. International experts have been trying to figure out the reasons why contemporary investors are investing in other assets instead of gold as it used to be ages. It's interesting to note that they are mostly investing in dollar assets.

Publication date: 25 October 11:52 AM

USA Leaves China Without Crude Oil, Russia Is Ready To Compensate

The trade war between the United States and China is still underway. Earlier this month, America made another attempt to undermine the Chinese economy. The thing is, that up until recently, America used to be one of the biggest exporters of crude oil to China. In summer, the U.S. export of crude oil to China used to be equal to 10,5 million barrels a month. At this point, America has almost suspended the export of crude oil to China. Last month American oil companies shipped as little as 600K barrels, with no oil shipping planned for this month.

Publication date: 17 October 10:29 AM

Evgeniy Filichkin: FortFC Launches pre-ICO

While skeptics armed with political axioms, and complicated math formulas, are trying to persuade the world that sooner or later, the cryptomarket industry is doomed to exhaust its potential at some point in the future, the cryptomarket itself is becoming a part of the global economy.

Publication date: 03 October 09:10 AM

Trump is helpless: oil prices keep going up

Oil prices keep going up. Brent oil has just exceeded $83/b. Obviously, Donal Trump's attempts to urge the OPEC to increase their oil production have filed so far. For those of you who don't know, not so long ago Donald Trump threatened the OPEC in general and Middle-Eastern oil producers in particular with consequences if they refuse to start increasing their oil production to dump international oil prices as soon as possible. However, those threats seem to have had no impact on the OPEC and the prices are still going up. 

Publication date: 01 October 10:15 AM

Trump Will Take Revenge on Middle East because of Crude Oils

Donald Trump threated some Middle Eastern oil producers to take revenge on them because of crude oil prices. This is not the first time the American president is criticizing the Middle East in Twitter for being reluctant to contribute to lower oil prices. 

Publication date: 24 September 10:02 AM

China declares crude oil war on USA

Beijing is now considering the opportunity to cut down on the export of crude oil from the United States in response to Washington's decision to raise the import duties on Chinese products. The energy war between the USa and China may also affect Russia.

Publication date: 11 September 11:55 AM

China's dependence on crude oil increases fast

Over the last few years, China has been getting more and more dependent on the import of crude oil and some other energy carriers. Most of those oil imports are of Russian origin. the thing is that CHina's domestic oil and natural gas production has been contracting over the last few years while the country's production capacities have increased and are now in high demand of more energy.

Publication date: 11 September 10:40 AM

Investment Banks Raise Their Oil Forecasts

The world's biggest investment banks have raised their oil forecasts again, for the 10th month in a row, The Wall Street Journal reports. 

Publication date: 02 August 12:00 PM