July 9, 2024 at 9:00 PM Aces/SplashNews.com / Aces/SplashNews.com The 2024 presidential election is top of mind and, if you are a shareholder in a company, you might be paying more attention to Donald Trump’s campaign in the upcoming months. Not only will you cast your vote for the next president of the United States … Read more
West Texas Intermediate remains steady with thin trading, possibly due to anticipation of upcoming producer price figures from the US. The WTI crude oil hovers around $78.00 per barrel in European trading on Thursday. Oil traders have absorbed the hawkish stance maintained by the US Federal Reserve, with the Federal Open Market Committee (FOMC) keeping … Read more
The drop in crude oil prices is attributed to OPEC+ announcing a gradual plan to ease some of their oil production cuts.
Fact: No Democratic president since at least Grover Cleveland in the late 19th century has been beloved by American business.
Since 2022, the huge deposits held by banks at the ECB have been earning millions in interest.
The WTI crude oil price has been on a losing streak for the fifth trading session due to a hawkish outlook on interest rates by Federal Reserve policymakers. Fed officials are uncertain about the disinflation process and are considering further tightening of monetary policy. The next trigger for oil prices will be the OPEC meeting scheduled for June 1 to discuss supply policy.
The United Arab Emirates’ economy grew 4.3% year-on-year in the fourth quarter of 2023, with non-oil GDP surging 6.7% in the same period.
The Lithuanian Finance Ministry proposed increasing the corporate tax rate by one percentage point, hiking excise duty on fuel, and introducing a tax on some insurance contracts to raise additional funds for defense.
Oil prices increased on Thursday despite the US Federal Reserve considering further tightening of interest rates due to persistent inflation. Brent crude futures rose by 0.6% to .41 a barrel, while US West Texas Intermediate crude futures also increased by 0.7% to .08. The Federal Reserve discussed the possibility of raising interest rates to combat inflation, which could impact oil demand. Additionally, US crude stocks rose by 1.8 million barrels last week, and global crude markets have been affected by soft refinery demand and ample supply. Russia exceeded its OPEC+ production quota in April and will present a plan to compensate for the error. OPEC+ will meet on June 1 to decide on production cut levels, with expectations of a rollover of current voluntary cuts.
The US presidential elections are scheduled for November 2024 and are considered instrumental for the global economy due to the size of the US economy, the central role of the US dollar, and the country’s vast energy reserves and geopolitical importance.