The U.S. Energy Information Administration (EIA) estimates that members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $711 billion in net oil export revenues in 2018, increased by 32 per cent from the $538 billion earned in 2017, mainly as a result of the increase in average annual crude oil prices during […]
The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]
Two reports out this week which could greatly impact oil prices indicate that leaders in Tehran are desperately urging China to purchase more Iranian crude: First, Reuters notes China continued importing Iranian oil in July for the second month since a US sanctions waiver ended, though at greatly diminished levels compared to the year prior, citing numbers from three data firms: According to […]
Mounting signs of an economic slowdown and a ratcheting up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said. “The situation is becoming even more uncertain … global oil demand growth has been very sluggish in the first half of 2019,” the IEA […]
The U.S.-China trade war is sparking so much fear over demand that even those parts of the commodity world that aren’t in the direct firing line are getting burned, says a report by Bloomberg Oil had its biggest sell-off in four years after U.S. President Donald Trump brought an abrupt end to a truce forged […]
Is this the harbinger of real slowdown of Indian growth wagon? Falling imports of crude oil does not augur well for the economy. India’s June crude oil imports fell 13.4 per cent from a year earlier to their lowest since February 2017, according to official data. Crude imports into the world’s third-biggest oil importer fell […]
A well-supplied global oil market means that consumers need not worry too much about the developments in the critical Strait of Hormuz, including the recent seizure of a UK-flagged oil tanker, where a standoff is on between Iran and other powers, the International Energy Agency (IEA) has said. The IEA said it was closely monitoring […]
BIMAN MUKHERJEE Indian basmati rice exports to Iran, which accounts for a quarter of the total market, have been hit by inordinate payment delays as war clouds gather in the horizon, exporters said. Total payment of around Rs 1,700 crore are stuck as Iranian authorities have not released payment orders for buying Indian basmati rice. […]
The Iranian National Guard Corps (IRGC) is claiming that is has seized a British oil tanker for violating International maritime law. The vessel, named the Stena Impera, according to the IRGC, was captured while traversing the Strait of Hormuz at the request of Hormozgan Ports and Maritime Organization “for failing to respect international maritime rules.” […]
Diwali has come early for gold investors who followed our advice, as prices have soared to a six-year high this week. But even If you did not, don’t just rue your poor judgment. There is probably still time to catch the rally. While gold climbed to $1,400/Troy ounce on Friday —a level that many anticipated […]
