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Brent Jumps After Explosion At Major Oil Pipeline In Libya

After a quiet overnight session, the price of Brent Crude spiked following news of an explosion at a Libyan crude oil pipeline that feeds the Es Sider sea terminal – home of the largest oil depot in Libya – a source from the Libyan National Army told The Libya Times Tuesday. The blast happened near […]

In Victory For Trump, UN Imposes New North Korean Sanctions

One day after the UN humiliated Donald Trump, when 128 nations voted for a UN resolution demanding the US president revoke his decision to recognize Jerusalem as Israel’s capital, on Friday Trump scored a significant victory at the same venue – his third of the day after signing off on the tax and stopgap bills […]

What Will Drive The Next Oil Price Crash?

Authored by Tsvetana Paraskova via OilPrice.com, As we roll into 2018, analysts and investors are more optimistic that the oil market will further tighten next year and support higher oil prices, but rising U.S. shale production will likely cap any significant price gains. On the demand side, expectations are that global economic growth will support […]

If Bitcoin Is A Bubble…

Authored by Erik Norland via CMEGroup.com, Our earlier articles on bitcoin discuss the crypto asset as a currency and a commodity. Both papers focused on the consequences of bitcoin’s defining feature: the asymptotic supply limit of 21 million coins. This gives it an unusual juxtaposition of demand uncertainty and supply certainty (as well as inelasticity). […]

Dow 25,000 In Sight As Tax Cuts Are “Priced In” One Last Time

Dow futures are up some 80 points this morning after early on Wednesday morning the Senate passed the Tax Reform bill in a party-line vote, and is now set to become law after a follow-up vote in the House and Trump’s signature some time on Wednesday afternoon. The good news is that the biggest political […]

Yuan-Priced Crude Futures Could Arrive Before Christmas

Authored by Tsvetana Paraskova via OilPrice.com, After years of setbacks and delays, China may be days away from launching a yuan-priced crude oil futures contract to make its currency more international and challenge the dominance of the petrodollar. Many Chinese investors eagerly anticipate the start of yuan oil futures trading on the Shanghai International Energy […]

Is A Russia-Cuba Energy Deal In The Works?

Authored by Irina Slav via OilPrice.com, The chief executive of Russian state oil major Rosneft met yesterday with Cuba’s President Raul Castro, suggesting that the two are working on an energy deal, Reuters reports. Rosneft started exporting crude oil to the Caribbean island earlier this year as its main supplier, Venezuela, struggled with a decline […]

European, Asian Stocks Slide But US Futures Rebound As Tax Deal Fears Ease

U.S. equity index futures point to a higher open, having rebounded some 10 points off session lows with the VIX stuck on the edge between single and double digits, while European and Asian shares decline as investors assess central banks’ shift toward tighter monetary policy and concern over tax overhaul ahead of final plan.  It […]

Silk Road Fever Grips The Russian Far East And Boosts Economy

Authored by Pepe Escobar via The Asia Times, China's Belt and Road Initiative heralds a new era with mega infrastructure projects dotting the landscape… If  you are looking for the latest breakthroughs in trans-Eurasian geoeconomics, you should keep an eye on the East – the Russian Far East. One interesting project is the new state-of-the-art $1.5 […]

China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading

Amid all the chatter of Venezuela and Russia potentially creating oil-backed cryptocurrencies, the "huge news" of China's launch of the Petro-Yuan has fallen off the front page… until now. This week saw the Shanghai Futures Exchange complete its fifth yuan-back oil futures contract trading drill successfully… As Bloomberg reports, 149 members of Shanghai International Energy […]

OPEC Reports Lowest Oil Output In Six Months; Fears Shale Production Surge

True to its perpetually optimistic form, OPEC, which last month for the first time conceded the threat posed by rising US shale production… … sharply raised its demand forecast for cartel oil in 2018, ahead of the OPEC meeting at the end of November. And, according to OPEC's latest market report for the month of […]

Stocks Rebound From “Bama Shock”, All Eyes On Yellen’s Last Rate Hike

After an early slide last night following the stunning news that Doug Jones had defeated Republican Roy Moore in the Alabama special election, becoming the first Democratic senator from Alabama in a quarter century and reducing the GOP’s Senate majority to the absolute minimum 51-49, US equity futures have quickly rebounded and are once again […]

Futures Flat As FOMC Meeting Begins; Brent Jumps Over $65 For First Time Since 2015

E-mini futures are modestly in the green this morning, though net of fair value the S&P index is poised for another record high open as the FOMC begins its last meeting for 2017 in which it is expected to raise rates by 25bps. European stocks gain while Asian equities slide led by weakness in Chinese […]

Bitcoin Collapse, Equity ‘Flash Crash’, & The Fed Loses Control: Saxo’s ‘Outrageous Predictions’ For 2018

Via Saxo Bank: We’ve delved deep again this year in penning our annual list of 10 Outrageous Predictions. As usual, we roam the world and ride roughshod over consensus in sniffing out these supposedly highly unlikely events with underappreciated potential – events that could have tremendous implications if they come to pass. Enjoy! 2017 was […]

De-Dollarization Continues: China, Iran To Eliminate Greenback From Bilateral Trade

The more Washington lashes out in anger at those who will not bow to the unipolar world order, the more the rest of the world fights back. As the launch of its Yuan/Gold-settled oil futures looms, China is escalating its de-dollarization scheme further by seeking a bilateral rial-yuan agreement with Iran. As a reminder, nothing […]