Prices rise to fresh one-year high after the Organization of the Petroleum Exporting Countries agreed to pull back output By TIMOTHY PUKO and NEANDA SALVATERRA, The Wall Street Journal. Oil prices edged up to a fresh one-year high Monday, adding to last week’s sharp rally from OPEC’s agreement to cut production. The market is extending […]Continue Reading →
Italy voted No and delivered another blow to the future of the E.U. And the rescue plan for Italian bank Monti dei Pascha di Sienna was rated the weakest lender in the European stress test this summer. The world’s oldest bank needs to raise 46 billion Euros of bad loans by the end of the […]Continue Reading →
Financials: March Bonds are currently 1 lower at 150’00, 10 Yr. Notes 5 lower at 124’10, 5 Yr. Notes 4 lower at 117’25 and June Eurodollars 1.5 lower at 98.825. Italy’s rejection of Prime Minister Renzi’s proposed reforms initially rallied the Bonds and Dollar but eventually these markets stabilized to current values. We have been […]Continue Reading →
Oil prices, like the rest of the global markets, are shaking off the Italian “no” vote on constitutional reforms and Italian Premier Matteo Renzi announced resignation and instead are focusing on growth and OPEC production cuts. After opening lower the global markets came roaring back as it might not be all bad that Italy is […]Continue Reading →
As the seismic change in the Energy markets after the OPEC agreement and the Stock Market rolling the market is looking to take an exhausted breather. And being the first Friday of the month we wait for the release of Unemployment data. The pullback should create another buying opportunity but we should brace for The […]Continue Reading →
While the oil market grabbed the spotlight, considering the historic OPEC agreement and rightly so, we also must keep an eye on natural gas. The natural gas market has had an impressive move as of late and yesterday’s price spike got help not only from a slightly friendly supply report, but a weather prediction that […]Continue Reading →
A breaking story publish by Argemone yesterday right after the announcement of the OPEC production cut told a story the Agriculture markets, thanks to innovations such as drones, “on the brink” of an information revolution that could fill the information gap in notable regions such as the Black Sea and this information will translate to […]Continue Reading →
This is a big OPEC’ing deal. While the naysayers said it could not be done, OPEC went ahead and did it anyway. The cartel agreed to cut production by 1.2 million barrels a day(mbd) to 32.5 mbd and has enticed non-OPEC producers to add another 600,000 barrels. Now that the months in making the deal […]Continue Reading →
Discretion is the better part of valor. Last night’s weekly API inventories showed draws in Crude Oil stocks of 700 thousand barrels. And close to the finish line OPEC ministers are hinting an output deal is on the table and is close to a reality in the meeting in Vienna. This has the market regurgitating […]Continue Reading →
Strand up or go home. The oil market is giddy as we go into the final stretch in what may be the most important OPEC meeting in recent history. The Cartel today will not only decide on a deal to restrain production but may be a vote on the cartels future relevance. It is doing […]Continue Reading →
By Myra Saefong, MarketWatch. The much-anticipated event for the oil market this week is Wednesday’s meeting of the Organization of the Petroleum Exporting Countries, where members are expected to hash out details of a proposal to curb crude production. Whether or not the 14-member group of major oil producers is able to reach a final […]Continue Reading →
Ok Last Friday. turkey sandwiches, Saturday turkey tetrazzini, Sunday turkey soup, yesterday turkey pot pie. Ok Rover, time for some chopped turkey tonight. Well, it’s new to Rover.
Metals: As expected gold and silver were slammed as soon as the Fed started talking up higher rates probably by the December meeting. They look […]
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