US could buy back oil for strategic reserve late this year
Synopsis by Reuters Mar 29 23
The U.S. could start buying back crude oil for the Strategic Petroleum Reserve late this year after ...Read full article 
Reuters: US could buy back oil for strategic reserve late this year
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| Last Updated | Mar 29 23 |
| Total Articles | 2 |
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Quick Glance: Iran's Oil Exports Thrive Amid Rising Tensions
- Iran is exporting more oil than in the past six years, providing the economy with a $35 billion annual boost, as western countries consider tightening sanctions in response to the attack on Israel.
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- Iran has found ways to bypass sanctions, shielded from western pressure as its main oil exports go to China. Tensions have escalated since the Hamas attack on Israel, driving oil prices up by over 15%, while US efforts to sanction individual tankers carrying Iranian oil have had minimal impact so far.
- Mounting Republican pressure urges the Biden administration to take tougher action on Iran's oil sales, with criticism over perceived leniency on existing measures. Despite US strategic oil reserves being released to stabilize prices, concerns remain over the administration's stance on enforcing sanctions similar to the previous Trump administration.
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Quick Glance: US to Reinstate Sanctions on Venezuela’s Oil and Gas Sector
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- The US government decided not to renew the temporary authorization (General License 44) that allowed transactions with Venezuela's national oil and gas sector without fear of sanctions, citing the Maduro government's failure to uphold key areas of the 'Barbados Agreement.'
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- Despite reinstating sanctions, a US official emphasized that this should not be seen as a final decision on Venezuela's electoral capabilities, and efforts to support a better future for the country will continue.
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- Although the tickets matched five numbers, the Powerball eluded the player in the April 3 draw, shared by Washington’s Lottery.
- As per the national Powerball site, the grand prize, escalating to an estimated $1.23 billion, remained unclaimed for the upcoming draw on April 6.
- The winning combination comprised the numbers 11, 38, 41, 62, and 65, with the Powerball being 15. Washington also boasted over 49,000 other winning tickets ranging from $4 to $50,000.
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- In Europe, temperatures in March 2024 were 2.12°C above the 1991-2020 average for the month, with significantly above-average temperatures observed in central and eastern Europe.
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- The representative of Israel at the international art fair is calling for an immediate ceasefire in Israel’s war on Gaza.
- Ruth Patir’s video installation called (M)otherland was scheduled to open on Saturday at Israel’s national pavilion at the international art show but will remain closed for now.
- Patir stated on her website that the artist and curators are showing solidarity with the families of the hostages and the large community in Israel calling for change, rather than canceling themselves or the exhibition.
- It is believed that there are still individuals in Gaza, including 129 captives taken during the attacks led by Hamas on Israel on October 7, with 34 of them presumed dead.
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Niger and China sign crude oil MOU worth $400 mln, says Niger state TV: Niger has signed a memorandum of understanding with Chinese state-owned oil giant China ...
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How will Israel's attack on Iran impact the stock market, crude oil, gold?: Iran-Israel conflict: The S&P BSE Sensex slipped nearly 1 per cent ...
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Quick Glance: Israel and Iran Step Back
- Iran and Israel pull back after attacks, avoiding direct escalation
- Both Iran and Israel have shown limited responses so far to prevent full-scale war
- Region remains tense, conflict between Israel and Iran remains precarious and unpredictable
- While both sides aim to avoid all-out war, the situation remains volatile and dangerous
Even without war in the Gulf, pricier petrol is here to stay: Expensive oil could put Donald Trump in the White House
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Quick Glance: Powell Warns of Lack of Progress on Inflation
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- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
US, Europe to up Iran sanctions as Israel pressed to ditch threatened retaliation
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Quick Glance: The Night Iran's Missile Show Rattled Israel
- In Tehran, 'Operation True Promise' launched an unprecedented aerial assault on Israel.
- The direct clash between powerful militaries showcased Israel's defense and Iran's display of power.
- Despite minor damages and injuries, the question remains whether this attack signifies further escalation or the start of a war.
- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
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Stock Market LIVE: Asian indices rebound, Kospi, Hang Seng lead; Brent crude falls 3%
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Quick Glance: S&P 500: Potential Downside Risk with Nasdaq 100 in Peril (Technical Analysis)
- The S&P 500 may be facing potential downside risk, with a deep decline possibly unfolding in stages, with the Nasdaq 100 potentially being the last to be affected.
- In the era of 'buying the dip,' there is a chance that a decline could occur gradually or swiftly, or it could even be a false alarm.
- As a risk manager, it is more important to assess the risks of different market segments and position accordingly, rather than speculate on market movements.
- The primary goal is to avoid being affected by market-changing sell-offs, and adjusting the portfolio to address the current market risks is crucial.
Weaker rupiah, high oil prices hit RI manufacturing sector - Economy - The Jakarta Post
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How rising gas prices might impact Americans in time for summer: The price of oil is already up for the year and gas prices typically follow.
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India discussed oil market volatility with OPEC chief, government says: India, the world's third biggest oil importer and consumer, discussed recent trends and ...
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BP expects rise in first-quarter upstream energy output: BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as ...
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Mideast-related oil price hike threatens economic outlook: IMF Chief Economist: The recent oil price spike fueled by rising Middle East tensions has the ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Those affected by the oil spill in Oriental Mindoro, Antique have compensation: Those affected by the oil spill in Oriental Mindoro and Antique will receive full ...
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Norway's trillion dollar wealth fund posts 107 billion dollar first quarter gain: Norway's sovereign wealth fund, the world's largest, posted a gain of ...
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Nigeria Plans to Offer Crude Trading on Bourse for First Time: Nigeria’s commodities exchange plans to offer crude oil and gas trading to deepen access to ...
bloomberg.com/news/articles/2024-04-19/nigeria-plans-to-offer-crude-trading-on-bourse-for-first-time
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What would be the economic fallout of any Iran-Israel escalation: The world and especially countries in the Middle East cannot afford any negative impact on ...
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Quick Glance: Israeli Push for Sanctions Against Iran Amid ‘Diplomatic Offensive’
- Israel has launched a “diplomatic offensive” against Iran, urging sanctions against the Islamic republic.
- Israeli Foreign Minister Israel Katz has called on 32 countries to impose sanctions on Tehran as Israel considers a military response to Iran’s attack.
- Israeli military sources reported intercepting 99 percent of aerial threats with assistance from the United States and allies, causing only minor damage.
- Tensions are high as Israel ponders its reaction to Saturday's attack while Germany calls for new sanctions related to Iran's drone supply to Russia for use in Ukraine.
Biden Economic Aide Brainard Says US Aim to Keep Summer Gasoline Prices Steady: President Joe Biden’s top economic aide said the administration wants to keep gas ...
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Paid articlePaid Ukraine is ignoring US warnings to end drone operations inside Russia: Its superdrones can reach targets as far away as Siberia
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IMF says Israel's war on Gaza will slow Middle East economic growth: The war in Gaza will significantly slow the pace of economic growth across the Middle East ...
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How US sanctions have affected Venezuela: Under Obama, Biden and Trump, Washington has introduced economic measures against the Maduro government ...
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BP reduces executive team to simplify company structure : New chief executive Murray Auchincloss says the energy giant must deliver as a ‘simpler and higher ...
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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US to hit Iran with new sanctions in 'coming days', Yellen says
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Quick Glance: Yellen warns of further sanctions in response to Iran's increasing activities
- Treasury Secretary Janet Yellen warned of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's 'malign and destabilizing activity' in the region.
- The fast-rising tensions between Iran and Israel and the potential implications of escalation on the global economy are at the forefront of the spring meetings of the International Monetary Fund and World Bank.
- Yellen announced additional sanctions actions against Iran in the coming days and expressed support for liquidating roughly $300 billion in frozen Russian Central Bank assets for Ukraine's reconstruction.
- Another major focus of this year's meetings will be Chinese industrial policy, which Yellen believes poses a threat to U.S. jobs and the global economy. She plans to meet with Chinese counterparts to identify potential areas of cooperation and address concerns.
Passengers rob elderly taxi driver: MELAKA: An elderly taxi driver was robbed and assaulted by four suspects, including a 26-year-old woman ...
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Kenya has costliest fuel in East Africa despite latest price cut: Kenya has the most expensive fuel in the East African region.
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Petrobras’ Prates Aligns Himself With Lula to Boost Shipbuilding: Brazil’s state-controlled oil producer Petrobras is getting behind President Luiz Inacio Lula ...
bloomberg.com/news/articles/2024-04-18/petrobras-prates-aligns-himself-with-lula-to-boost-shipbuilding
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Oil price eases on hopes of Middle East de-escalation after attacks: Iran produces more than three million barrels of crude oil a day as a major producer within ...
irishexaminer.com/business/economy/arid-41374870.html
Quick Glance: Oil Prices Could Witness a 'Super Spike Well Above $100' Post Iran's Strike on Israel
- Market analysts predicted that oil prices could surge to $100 per barrel and beyond after Iran conducted an aerial attack on Israel, reigniting concerns of a regional war.
- Iran carried out an aerial attack on Israel on Saturday night, launching over 300 drones and missiles, marking the first direct military attack by Iran on the Jewish state.
- Insufficient investment renders the supply more fragile, raising the likelihood of a 'super spike well above $100' if the supply is disrupted.
- Recent months have seen oil prices rise due to trade disruptions and delays caused by maritime attacks in the Red Sea by the Houthis, who express solidarity with the Palestinian people.
EM Stocks Set for Worst Week in 2 Years Amid Safe Haven Demand: Emerging-market stocks and currencies weakened on Friday as the escalation of tension in the ...
bloomberg.com/news/articles/2024-04-19/em-stocks-set-for-worst-week-in-2-years-amid-safe-haven-demand
Woodside revenue falls from prior quarter on lower LNG, oil prices: Woodside Energy posted a fall in first-quarter revenue on Friday compared with the previous ...
reuters.com/business/energy/energy-giant-woodsides-first-quarter-revenue-falls-12-sequentially-2024-04-18/
How rising gas prices might impact Americans in time for summer
charlotteobserver.com/news/business/article287748545.html
Singapore's key exports fall by 20.7% in March, worse than analyst estimates: SINGAPORE: Singapore's non-oil domestic exports (NODX) contracted 20 ...
channelnewsasia.com/business/nodx-march-2024-key-exports-fall-4271161
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