Source: OPEC The Organization of the Petroleum Exporting Countries (OPEC) has revised its supply growth outlook for the year, following the outages in areas. Non-OPEC liquids supply growth for the year was downgraded by 0.17 million barrels per day from the previous month.The revision is attributed to a decline of 0.5 million barrels per day in the third quarter, given … [Read more...] about OPEC Revises 2021 Supply Growth Outlook on Outages, Hurricane Ida
Forex News
US Durable Goods Climbs by Three-Month High in August
Source: US Census Bureau US durable goods orders climbed for the fourth straight month in August, marking the highest growth in three months. New orders for manufactured durable goods in August grew 1.8% to $4.6 billion to $263.5 billion, following the 0.5% climb in July.The increase was led by transportation equipment, up by $4.2 billion or 5.5% to $80.8 billion. New … [Read more...] about US Durable Goods Climbs by Three-Month High in August
ECB Chief Lagarde Cites Growing Inflationary Concerns
Source: ECB Eurozone inflation could continue to breach the target raised by the European Central Bank before easing back to the 2% goal next year, according to a statement. ECB President Christine Lagarde cited growing inflationary concerns, which could indicate that the inflation uptick could be longer than earlier anticipated.Lagarde noted that factors could lead to … [Read more...] about ECB Chief Lagarde Cites Growing Inflationary Concerns
Boris Johnson Readies Up the Army as Heightened Demand Drains Petrol Pumps
Source: Bloomberg U.K. Prime Minister Boris Johnson is looking to bring the army to solve an acute shortage of fuel, as panic-buying pressured gasoline stations to close shops. FTSE 100 Index down -0.059%, GBP USD up +0.28% The British government has already given in to industry demands to issue 5,000 short-term visas to truck drivers, yet business leaders and unions … [Read more...] about Boris Johnson Readies Up the Army as Heightened Demand Drains Petrol Pumps
New Home Sales Hit Four-Month High in August
Source: US Census Bureau New home sales climbed for the third straight month to hit a four-month high in August, as average prices retreated. XHB is down 0.03%. Sales of new single-family houses stood at 740,000 in August, the highest in four months since April’s 796,000.The latest reading is 1.5% higher than the 729,000 in July and 24.3% lower than the 977,000 units sold … [Read more...] about New Home Sales Hit Four-Month High in August
