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Tuesday, 27 October 09:47 (GMT -05:00)



Stock and commodities markets

Saudi Arabia Doesn’t Want Oil Prices to Grow Too Fast


Reuters reports that Saudi Arabia doesn’t want oil prices to grow too fast. This is what Minister of Energy, Industry and Mineral Resources of Saudi Arabia Khalid A. Al-Falih told during his speech at the UN Climate Change Conference 2017 in Bonn, Germany.
 

 

On top of that, the minister expects the global market of crude oil to stay oversupplied in 2018. That’s why the Saudis support the OPEC’s idea to extend the OPEC+ agreement for the next year. For those of you who don’t know, the decision to extend the OPEC+ deal is expected to be made during the forthcoming OPEC summit scheduled for November 30th in Vienna, Austria. the international community expects the deal to be extended for 6 months this time. However, the Saudis assume that the deal won’t let the oil exporters achieve the expected goals by March 2018, which is why they advocate the idea of extending the deal for the rest of 2018.
 
Once again, the Saudi Arabian minister claims that the Saudis don’t want a too rapid price rally in the global oil market since this may shock the consumers. Also, they assume that a way out of the OPEC+ agreement should be gradual so as to let the importers get used to it.
 
While celebrating the success achieved by the OPEC+ agreement, the minister said that thanks to the deal the oil inventories had dropped by 50% relative to the expected level to let oil prices set a new 24-month high.
 
It’s interesting to note that the OPEC+ deal extension is supported by most of the participants. That’s already been confirmed by Russia, the UAE, Oman, and Iraq.
 

 

Brent oil was trading above $62/b on November 17th. That’s confirmed by the chart below, courtesy of FortFS:

 

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Goldman Sachs is back in the game

20 years ago, Goldman Sachs used to be a Wall Street legend and a dream company to work for graduates with a financial degree. Over the last few years, the bank has been a loser with thousands of disappointed employees, managers, and investors. However, the other day Goldman Sachs made an attempt to get back in the game.

Publication date: 16 October 01:17 PM

European ETFs - Decent Alternative to American ETFs

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Publication date: 19 September 01:48 AM

Warren Buffett Keeps Loading Up On Bank of America's Stock

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Publication date: 12 August 01:39 AM

WTI Price Drops After US Oil Inventories Report

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Publication date: 03 June 12:21 PM

Is Gold Worth Investing Amid Crisis?

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Publication date: 14 April 02:09 AM

Remember the Key Rules of Investing in Stocks

Without further ado, let's consider a bunch of principles of investing in stock, which will put the odds of succeeding in this business in your favor:

Publication date: 11 March 01:14 AM

Apple Patents iPhone Without Ports And Holes, Device Expected In 2021

It seems that the release of the long-awaited iPhone without any ports or holes is getting more and more portable. Apple has always favored minimalistic designs, especially over the last 5 years. In 2015, almost all of the classic ports were deprecated in MacBooks in favor of a single one - USB-C Thunderbolt 3. In 2017, iPhone 7 got rid of the 3.5mm audio jack.

Publication date: 05 March 08:20 AM

Gold Sets New Records

The gold market is insane. The gold futures price set a new major high in New York. In particular, the dollar price of the precious metal set a new 7- year high. With that being said, maybe you should add gold to your investment portfolio along with BTC? Well,lat's ponder upon this question.

Publication date: 14 January 01:23 AM

Brent Prices Drop Down To $61/b

The concerns over the global demand for crude oil are getting back to the market again. The current trading week has been a week of discounts. Earlier today, Brent oil saw its price drop down to 61 dollars per barrel. The WTI price dropped all the way down to 56 dollars per barrel. The supply side has got an upper hand.
Publication date: 27 September 04:52 AM

Gold Prices Are Getting Stable After Monday's Rally

Last week was rich in the information about various financial markets, which could exert downward pressure on gold prices. Strange as it may seem, the situation in the ore market was relatively calm. Eventually, the week closed in the green zone. Those gains mainly had to do with Friday's gold rally. International traders and investors reacted to the information about another global economic slowdown coupled with the trade war between the United States and China as well as the current situation in the Middle East, and started loading up on gold as a safe-haven asset, which eventually pushed the prices higher. 

Publication date: 24 September 05:15 AM