Oil prices are rebounding as U.S. stockpiles show signs of decrease
According to the American Petroleum Institute, crude inventories have decreased last week by 8.67 million barrels. Another batch of data is waiting to be released later today. At the moment oil rebounded from the lowest level in more than two weeks. US activity a threat to OPEC plans
Oil prices slipped again, even though no high activity is present now in the markets. The reason for it is an ever-growing number of new drilling platforms in US, which thwarts OPEC plans to cut oil production.
FOMC minutes weakened the dollar
The dollar has found itself on backfoot since yesterday and investors have become mostly bearish after the Federal Open Market Committee has raised fears on the dynamics of future rate hikes. This allowed euro to climb back towards over a half-year high. Moody’s downgrades China’s rating
First time since 1989 roku, the Moody’s Investors Service downgraded China’s rating from A1 to Aa3, changing it from “stable” to “negative”. Donald Trump caused the market shock
Even though the tension has decreased, the European and Asian markets suffered heavy losses. The man behind it is the same individual who made the US markets grow – Donald Trump. West Texas oil manufacturers ready to thwart OPEC plans
OPEC, Russia and other big manufacturers might aid to move oil prices back to $60 per barrel or more with a new extraction deal, but that would also be a green light for U.S. shale drillers. China plans to spend over $100 billion on the One Belt, One Road initiative
China plans to spend more than $100 billion to finance projects from the „One Belt, One Road” strategy, aiming to strenghten the world’s second larget economy’s global influence and boost the trade between China and its partners. Russia and Saudi Arabia suggest more cuts to oil production into 2018
Saudi Arabia and Russia announced that they might extend oil production cuts into 2018. Is Tesla a typical bubble?
Hedge fund manager David Einhorn expressed his predictions that markets are too zealous about Tesla expanding electric-car sales as stockholders put their faith based on nothing Elon Musk.
Oil still under pressure
Oil prices continued to suffer damage on Thursday, as oversupply concerns overshadowed expectations that major suppliers would agree to extend extraction cuts to try to rebalance the market.
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