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There is simply no reason for the Market to retreat for the following reasons:
The Fed rate hike cycle is near finished. The inflation rate is starting to trend downward from 6.5 % in 2022 to a current 4.9 %, and continues down by approximately 1.0% per month.
The USA will continue to lead energy development both in the tradition and clean areas. US oil production is rising with a projected average of 12.6 M barrels/day in 2023 verses 11.9 M for 2022. Even with OP...
The Fed rate hike cycle is near finished. The inflation rate is starting to trend downward from 6.5 % in 2022 to a current 4.9 %, and continues down by approximately 1.0% per month.
The USA will continue to lead energy development both in the tradition and clean areas. US oil production is rising with a projected average of 12.6 M barrels/day in 2023 verses 11.9 M for 2022. Even with OP...
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$Rex Intl (5WH.SG)$ $Dyna-Mac (NO4.SG)$ $RH PetroGas (T13.SG)$ $Crude Oil Futures(JAN5) (CLmain.US)$
Oil prices climbed 2% on Tue as markets weighed Aug supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook.
Saudi Arabia on Mon said it would extend its voluntary output cut of 1 m bpd to Aug while Russia and Algeria volunteered to lower their Aug output and export levels by 500,000 bpd and 20,000 bpd, respectively.
If fully implemented, that would bring a combi...
Oil prices climbed 2% on Tue as markets weighed Aug supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook.
Saudi Arabia on Mon said it would extend its voluntary output cut of 1 m bpd to Aug while Russia and Algeria volunteered to lower their Aug output and export levels by 500,000 bpd and 20,000 bpd, respectively.
If fully implemented, that would bring a combi...
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Saudi Arabia and Russia just announced another 1.5 million barrels per day of crude oil production cuts.
It also happens to come just as crude oil prices fall into the $67-$70 range that the US wants to refill the Strategic Petroleum Reserve (SPR).
This is the third time we have seen OPEC do this.
Are energy resources being weaponized?
$Exxon Mobil (XOM.US)$ $Occidental Petroleum (OXY.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Berkshire Hathaway-A (BRK.A.US)$
It also happens to come just as crude oil prices fall into the $67-$70 range that the US wants to refill the Strategic Petroleum Reserve (SPR).
This is the third time we have seen OPEC do this.
Are energy resources being weaponized?
$Exxon Mobil (XOM.US)$ $Occidental Petroleum (OXY.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Berkshire Hathaway-A (BRK.A.US)$
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1. Saudi Arabia to extend 1 million barrels per day of production cuts through August
2. Russia to cut 500,000 barrels per day of production in August
3. UAE says OPEC+ wants supply and demand "balance" in oil markets
OPEC is not messing around.
$Occidental Petroleum (OXY.US)$ $Imperial Petroleum (IMPP.US)$ $Chevron (CVX.US)$ $Exxon Mobil (XOM.US)$
2. Russia to cut 500,000 barrels per day of production in August
3. UAE says OPEC+ wants supply and demand "balance" in oil markets
OPEC is not messing around.
$Occidental Petroleum (OXY.US)$ $Imperial Petroleum (IMPP.US)$ $Chevron (CVX.US)$ $Exxon Mobil (XOM.US)$
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Unger : You’re delusional, have you even read the cpi over the last months? It’s extremely sticky and will probably require an extremely hawkish stance to reduce until it hits the 2%.
BULRUN : Agreed man. Dont think any good will come out if the FOMC meeting. Plus. S&p is hitting its resistance. Expecting an 2% decline in the s&p today
Seraphicall : Rate hike near the end? Are you serious?