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☆ A look at how stocks perform before and after the Fed's first rate cut — and how it may be different this time
▼ + stars: | 2024-01-31 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

How markets perform after the first Fed rate cut may be more complicated this time than investors expect. The S & P 500 rose just 3.5% in 2007 before collapsing 38% in 2008. A year after the Fed cut rates in 2019, the Covid-19 pandemic weighed on markets. How stocks perform will be especially important as Wall Street assesses when the central bank will cut rates. Markets are currently pricing in a 46% likelihood the Fed will cut rates by a quarter percentage point at its March meeting.

Persons: Ned Davis, Ed Clissold, Sam Stovall, Bear Stearns, Lehman, Stovall Organizations: Federal Reserve, Fed, Dow Jones, Ned Davis Research, Dow, Ned, CFRA Research, Storm, Lehman Brothers Locations: U.S, Iraq, Kuwait

JERUSALEM (AP) — A liquor store has opened in Saudi Arabia for the first time in over 70 years, a diplomat reported Wednesday, a further socially liberalizing step in the once-ultraconservative kingdom that is home to the holiest sites in Islam. The store sits next to a supermarket in Riyadh's Diplomatic Quarter, said the diplomat, who spoke on condition of anonymity to discuss a socially sensitive topic in Saudi Arabia. Saudi Arabia remains one of the few nations in the world with a ban on alcohol, alongside its neighbor Kuwait and Sharjah in the United Arab Emirates. Saudi Arabia has banned alcohol since the early 1950s. As Saudi Arabia prepares for a $500 billion futuristic city project called Neom, reports have circulated that alcohol could be served at a beach resort there.

Persons: Prince Mohammed bin Salman, Jamal Khashoggi, King Abdulaziz, Prince Mishari, Cyril Ousman Organizations: JERUSALEM, Washington Post, Workers, Saudi, Arab News, Saudi Research, Media, U.S . State Department, United Locations: Saudi Arabia, Islam, Riyadh, Saudi, haram, Islam . Saudi Arabia, Kuwait, Sharjah, United Arab Emirates, Jeddah, Mecca, Neom

☆ Iran-backed groups in the Middle East and major US military deployments
▼ + stars: | 2024-01-24 | by ( Nadeen Ebrahim | Abbas Allawati | ) edition.cnn.com time to read: +10 min

The US has attacked Iranian-backed groups in Yemen, Syria and Iraq, while Iran-linked groups have targeted American personnel in Iraq and Syria. The US, having been trying to pivot away from the Middle East for years, finds itself drawn back into the region. And in some places, including Iraq and Syria, the US military presence overlaps that of Iran and its allies. The US has around 13,500 US forces in Kuwait, the largest American military presence in the region. The US this month quietly reached an agreement that extends its military presence for another 10 years at the base.

Persons: Yemen’s, Sayyed Hassan Nasrallah, Harakat, Sayyid, Al, Haq, Asad, Bashar al, Assad, Israel, Ali, Dalton Williams Organizations: UAE CNN, Hamas, Islamic, Navy, Marine Expeditionary Unit, Institute for National Security, Islamic Revolutionary Guard Corps, National Intelligence, Badr Organization, Asad Air Base, Erbil AB, Al, Force, Fatemiyoun, ISIS, Syria Security, Syrian Democratic Forces, Syrian Free Army, CNN, Gaza, US Air Force, Battalion, 163rd Cavalry Regiment, Ali Al Salem Air Base, U.S . Air Force, Washington, United Arab, US, Udeid, Base, Forward Headquarters, Combined Air Operations Centre, Prince Sultan Air Base, UAE, Al Dhafra, Al Dhafra Air Base, Gulf Air Warfare Center, US Naval Forces Central Command Locations: Abu Dhabi, UAE, Israel, Iran, US, Iranian, Yemen, Syria, Iraq, Tehran, Pakistan, Islamic Republic, Washington, Lebanon Lebanon, East, Lebanon, Gaza, Tel Aviv, Iraq Tehran, Baghdad, Al, Erbil, Syria Iran, Syrian, Pakistani, ”, Red, Saudi, Yemen’s, Kuwait, U.S, Palestinian, Arab, Turkey, Saudi Arabia, United Arab Emirates, Germany, Japan, South Korea, Qatar, Doha, Al Dhafra Air, Bahrain, Jordan, Incirlik

☆ U.S. Troops Are Injured in Attack on Air Base in Iraq
▼ + stars: | 2024-01-21 | by ( Eric Schmitt | Alissa J. Rubin | ) www.nytimes.com time to read: +7 min

Israel and Iran have been locked in a shadow war for years, long before the latest war in Gaza began. They have traded covert attacks by land, sea and air, as well as online. Israel has conducted targeted killings of key Iranian figures and strikes aimed at crippling Iran’s nuclear and military capabilities. Syria is a close ally of Iran and a conduit for Iranian weapons shipments to its proxies, especially Hezbollah. Iran and Pakistan Israel’s war with Hamas in Gaza Clashes along Israel-Lebanon border Qatar Iranian strike targeting militants Saudi Arabia U.A.E.

Persons: Israel, Ebrahim Raisi, Israel —, SANA, Hojatallah Omidvar, Haj Sadegh Omidzade, General Omidvar, Sayyed Razi Mousavi, Ronen Bergman, Victoria Kim Organizations: Guards, Quds Force, Islamic, Hamas, Revolutionary Guards, Human Rights, SYria AFghanistan IRAQ Israel Iran Clashes, West Bank, Qatar, Qatar INdia Saudi Arabia U.A.E, Red Sea, TURKEY U.S, EGYPT Qatar Saudi Arabia U.A.E, SYria IRAQ Iran Israel Clashes, West Bank KUWAIT PAK, Qatar Iranian, Saudi Arabia U.A.E, Quds Forces, Brig, Senior Locations: Iran, Damascus, Israel, Gaza, Syria, Islamic Republic of Iran, Lebanon, Yemen, Gaza . Israel, Syrian, Britain, East TURKMENISTAN Syria, Iraq TURKEY Iran, SYria AFghanistan IRAQ Israel Iran, West, Gaza PAKISTAN KUWAIT Iran, Pakistan EGYPT, Qatar INdia Saudi Arabia, OMAN Red, YEMEN Sudan, Red, Red Sea U.S, Iraq TURKMENISTAN Iran, TURKEY, Gaza Iran, Pakistan KUWAIT PAKISTAN, EGYPT Qatar Saudi Arabia, Sudan YEMEN U.S, SYria IRAQ Iran Israel, Pakistan, Qatar, Saudi Arabia, OMAN, YEMEN, Iranian, Gen, Erbil, Kurdistan, Iraq, Israeli, United States

☆ Nikki Haley wants a two-person race. New Hampshire’s independents just might give her one
▼ + stars: | 2024-01-21 | by ( Arit John | Jeff Zeleny | ) edition.cnn.com time to read: +16 min

Chip Somodevilla/Getty Images Haley and her family walk back into the South Carolina State House after her inauguration in 2011. Tim Dominick/The State/MCT via Getty Images Haley campaigns for presidential candidate Mitt Romney in 2012. Justin Sullivan/Getty Images Haley waves to the crowd during the Conservative Political Action Conference in 2013. Alex Wong/Getty Images Haley hugs her husband after his Army National Guard unit returned in 2013. Demetrius Freeman/The Washington Post/Getty Images Haley visits a farm during a campaign stop in Grand Mound, Iowa, in September 2023.

Persons: Hollis, Hollis , New Hampshire CNN — Danielle Brown, John McCain, Barack Obama, Nikki Haley, ” Brown, Haley, “ Haley, Chris Sununu, Trump, Trump . Sen, Tim Scott of, ”, ” Haley, Sununu, “ Nikki Haley, ” Trump, Greg Moore, Charles Koch, Moore, “, ” Moore, Susan Rice, Trump . Rice, “ I’m, ” Rice, ” Michael Lewis, Donald Trump, ” Lewis, “ There’s, “ MAGA, GOP Sen, J.D, Vance of, Sylvia, ” Bill Jackson, “ She’s, She’s, we’ve, they’re, Trump –, Biden, Joe Biden, Ron DeSantis, Travis Dove, Michael, Nalin, Rena, Twitter Haley, Gerry Melendez, AP Haley, Chip Somodevilla, Tim Dominick, Getty Images Haley, Mitt Romney, Justin Sullivan, Alex Wong, Michael Haley, Rainier Ehrhardt, Jaswinder Singh, Narinder Nanu, Bobby Jindal, Jindal, Win McNamee, Sean Rayford, Saul Loeb, Mike Pence, Drew Angerer, State Rex Tillerson, Matthew Rycroft, Boris Johnson, Bryan R, Smith, Raad Adayleh, Brendan Smialowski, Spencer Platt, Evan Vucci, Kevin Lamarque, Don Bolduc, Brian Snyder, Jonathan Ernst, Jake Tapper, Will Lanzoni, Demetrius Freeman, Rachel Mummey, Jonathan Newton, Nikki Haley Prev, CNN’s KFile, “ You’re, Nancy Protzmann, ” Protzmann, –, don’t, Ebony Davis, Ali Main Organizations: Hollis , New Hampshire CNN, New Hampshire Republican, Democratic, South Carolina Gov, Trump, Hampshire GOP, Republican Party coalesces, Trump ., Republicans, Republican, AFP, White House, Republican Party, Hollis, NATO, Republican National, Convention, Fox News, GOP, Vance of Ohio, “ Republican, Marist, Biden, Florida Gov, State House, New York Times, Twitter, South, AP, Capitol, South Carolina State House, Getty Images, Conservative Political, Conference, Army National Guard, Getty, Louisiana Gov, National Governors Association, Emanuel African Methodist Episcopal Church, United Nations, United Nations Security Council, UN, State, British, Norwegian Refugee Council, Gali Tibbon, UN Security, West Bank, The United States, Anadolu Agency, Republican National Convention, CNN, Washington Post, Social Security, Social Locations: Hollis , New Hampshire, Granite, New Hampshire, Haley’s, Hampshire, South Carolina, Trump, Tim Scott of South Carolina, Concord, Washington, Newfields, Hampton, Manchester, Portsmouth, Rochester, Maine, Kingston, Nashua, she’s, Iowa, Columbia , South Carolina, Afghanistan, Amritsar, India, AFP, Charleston , South Carolina, Columbia, State, New York, Syrian, United States, Jerusalem, Gali, Kuwait, Gaza, Londonderry , New Hampshire, Des Moines , Iowa, Grand Mound , Iowa, Miami, Hollis

How Houthi Attacks Have Upended Global ShippingShipping routes before attacks After attacks EUROPE ASIA Suez Canal Red Sea Gulf of Aden Malacca Strait AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE ASIA Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic Ships diverted after attacks Cape of Good Hope Note: To show the changing paths of ships that regularly traverse the Red Sea, 3,461 cargo vessels recorded at entrances to the Red Sea in the last three months are shown. Those detours, and the Houthi attacks, have persisted despite airstrikes by the United States and its allies against the Houthis. Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Three commercial vessels were struck in one day on Dec. 3. Nov. 15, 2023 Dec. 1 Dec. 15 Jan. 1, 2024 Jan. 15 Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Nov. 15, 2023 Armed Houthi fighters boarded a commerical vessel. The Houthi attacks have delayed China’s annual surge in exports before its factories are idled next month for the Lunar New Year.

Persons: Cape, Jan, JPMorgan Chase, Port Said Organizations: Global Shipping Shipping, Atlantic, Ships, Good Hope Shipping, Shipping, United States Central Command Shipping, Ikea, East, JPMorgan, Maersk, U.S . Energy Information Administration, Rotterdam EUROPE Venice, Good Hope, EUROPE Venice, International Monetary, Trade, Galaxy Leader, U.S . Navy, America Locations: ASIA Suez, Aden Malacca Strait AFRICA, ASIA Suez Canal Gulf, Aden Red, Suez Canal Gulf, Suez, Africa, Yemen, Israel, Gaza, United States, U.S, Asia, Europe, China, Northern Europe, East Coast, Maersk Hong Kong, The Singapore, Singapore, Slovenia, Port Said, Egypt, Port, Russia, Ukraine, India, Rotterdam EUROPE, Rotterdam EUROPE Venice Barcelona, Istanbul ASIA SYRIA LEBANON IRAN ISRAEL IRAQ Strait, Hormuz GAZA Suez, Kuwait, Red, Mumbai Malacca, YEMEN AFRICA, Aden, Good, Good Hope EUROPE ASIA SYRIA LEBANON ISRAEL IRAN IRAQ GAZA Suez, Strait, Hormuz Red, YEMEN, EUROPE, EUROPE Venice Tokyo Barcelona, Istanbul Shanghai ASIA SYRIA LEBANON IRAN ISRAEL IRAQ GAZA, Hormuz Hong, Suez Canal Kuwait, AFRICA Red, Mumbai Bangkok YEMEN Malaca, Istanbul Shanghai SYRIA LEBANON IRAN ISRAEL IRAQ ASIA GAZA, Suez Canal AFRICA Kuwait City Red, Red Sea, Beijing

☆ US Says Houthis Launched Missiles at Tanker Ship but No Damage Caused
▼ + stars: | 2024-01-18 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

By Kanishka Singh and Costas PitasWASHINGTON (Reuters) - The Iran-backed Houthi militia launched two anti-ship ballistic missiles at a U.S.-owned tanker ship late on Thursday that hit the water near the vessel but caused no injuries or damage, the U.S. military said. The Houthis, who control most of Yemen, earlier on Thursday claimed responsibility for the attack, saying they targeted the ship Chem Ranger with naval missiles that caused "direct hits". The Houthis say their attacks are in solidarity with Palestinians under attack from Israel in Gaza. Since last week, the United States has launched strikes on Houthi targets in Yemen, and this week returned the militia to a list of "terrorist" groups. President Joe Biden told reporters on Thursday that air strikes would continue even if they may not be halting the Houthi attacks.

Persons: Kanishka Singh, Costas Pitas WASHINGTON, TankerTrackers.com, Joe Biden, Eric Beech, Ahmed Tolba, Costas Pitas, Dan Whitcomb, Miral Organizations: U.S, U.S . Central Command, AIS Locations: Iran, U.S, Yemen, Jeddah, Saudi Arabia, Kuwait, Israel, Gaza, United States, Washington, Cairo, Los Angeles

☆ Americans are canceling trips that are thousands of miles from Gaza. Here's why
▼ + stars: | 2024-01-15 | by ( Monica Pitrelli | Jonathan Delise | ) www.cnbc.com time to read: +4 min

The Israel-Hamas war is affecting travel across the Middle East and beyond. Canceling plans a continent awayYet, the war's effect on travelers extends far beyond the Middle East, according to a survey from Morning Consult. Respondents said these plans included visits to the Middle East (12%) and North Africa (7%), as well as Western Europe (14%), according to the survey. Cancelations were high for domestic trips because most Americans travel within the 50 states, thus "there are simply more trips on the table to disrupt," the report stated. Some 52% of respondents with knowledge of the war said they viewed traveling to the Middle East as "very unsafe," compared to 29% of those who had not heard about it.

Persons: Saudi Arabia —, —, Olivier Ponti, Cancelations, Ponti Organizations: Middle East, United, United Arab Emirates, U.S . State Department, U.S, Department of State, Travel, Consular Affairs Locations: Israel, Saudi Arabia, United Arab, Morocco, Turkey, Egypt, Jordan, North Africa, Western Europe, United States, Cyprus, Lebanon, Kuwait, Malaysia, Colombia, Oman, South Africa, United Kingdom, Poland, Denmark

☆ One of the most well-funded federal agencies has lost track of billions of dollars worth of military aid
▼ + stars: | 2024-01-12 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

The Pentagon hasn't kept proper tabs on $1 billion in weapons the US sent to Ukraine, a watchdog report found. More than $1 billion of a $1.69 billion worth of weapons sent to Ukraine remain "delinquent." The Defense Department inspector general's report comes as Republicans in Congress have been blocking new aid to Ukraine. Advertisement"Things are showing progress, but it's not enough," Defense Department Comptroller Mike McCord told reporters at the time, according to Reuters. Update January 12, 2024: This story has been updated with comments made by Pentagon press secretary Maj. Gen. Patrick Ryder at a press conference Thursday evening.

Persons: Pentagon hasn't, It's, —, General's, Vladimir Putin, general's, Patrick Ryder, Ryder, Mike McCord Organizations: Pentagon, Department of Defense, Service, Russian, Defense, Ukraine, The Defense, US, Department, Amnesty International, Office, Washington Post, Reuters Locations: Ukraine, States, Iraq, Kuwait, Yemen, Afghanistan

☆ Kuwait rings up small bill in tower merger
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

A three-way partnership deal will enable Qatar’s Ooredoo (ORDS.QA) to offload capital-intensive infrastructure but only by offering Kuwait’s Zain (ZAIN.KW) favourable deal terms. Ooredoo and Zain are creating a regional powerhouse with an estimated enterprise value of $2.2 billion to be managed by Zain-backed TASC Towers Holding. The $8.9 billion Ooredoo and $6.9 billion Zain will own 49.3% each, with the rest going to TASC. But Zain is paying an average price of $73,000 per tower, 9.5% less than the average price per tower in previous deals, according to JPMorgan analysts. The Kuwaiti group will also call the shots as the founders of Dubai’s TASC Towers Holding – which Zain controls with an 83.47% stake – will manage the new entity.

Persons: Qatar’s, Kuwait’s Zain, Zain, Ooredoo, Dubai’s, Pamela Barbaglia, Neiman Marcus, Francesco Guerrera, Oliver Taslic Organizations: Reuters, TASC, Bloomberg, JPMorgan, X, Saks, Thomson Locations: Algeria, Tunisia, Iraq, Jordan, Saudi, Kuwaiti, Hong Kong

☆ AI Davids ride coattails of industry Goliaths
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

New York, Dec 5 (Reuters Breakingviews) - Artificial intelligence Goliaths like OpenAI continue to open the door for what might become the industry’s Davids. With a low-cost approach and data privacy focus, it may be able to eventually carve out a solid European business. Mistral has whiffs of what OpenAI, eyeing a mooted $86 billion valuation and eight years old, once was, but with tweaks. Mistral has also focused on “open sourcing” its models, which means they can be downloaded and used for free. As a Paris-based company, Mistral could build out its business with a specific focus on complying with AI rules being finalized by the European Union.

Persons: industry’s Davids, eyeing, Anita Ramaswamy, Neiman Marcus, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Reuters, Mistral, Bloomberg, European Union, X, Saks, Thomson Locations: York, Paris, Kuwait, Hong Kong

☆ Airbus notched a single order this year for its worst-selling plane
▼ + stars: | 2023-12-03 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

Airbus secured a single order for its worst-selling A330-800neo widebody airliner this year. In April, a single order for the A330-800neo was quietly added to Airbus' order book from an undisclosed customer. A Uganda Airlines Airbus A330-800neo. Air Greenland's Airbus A330-800neo. The few carriers that fly the A330-800 have sung its praisesA Kuwait Airways Airbus A330-800neo.

Persons: —, 800neo, Royce Trent, Thomas Pallini, Richard Aboulafia, Peter Ingram, Jacob Nitter Sørensen, intially, Maen Razouqi Organizations: Airbus, Airlines, Boeing, Service, Business, Uganda Airways, Kuwait Airways, Garuda, Air Greenland, Royce, Uganda Airlines Airbus, Air Greenland's Airbus, United Airlines, Hawaiian Airlines, Kuwait Airways Airbus, Aviation, Uganda Airlines, JFK, Dulles International Locations: Garuda Indonesia, Air, Greenland, Kuwait, New York, Washington , DC

It will see suspended payments repaid from 2027 to 2029 after a grace period from 2025 to 2026, the Paris Club said in a statement, noting that the deal was reached on Nov. 23. If Ethiopia does not get an IMF staff-level agreement by March 31, the official creditor committee "reserves the right to declare the suspension null and void", the Paris Club said. The Paris Club said 10 of its members were on Ethiopia's official creditor committee, which is co-chaired by France and non-Paris Club member China. Other non-Paris Club committee members are India, Kuwait, Poland, Saudi Arabia and Turkey. "We welcome the recent announcement of an interim standstill agreement with official creditors," the IMF spokesperson added.

Persons: Tellimer, Patrick Curran, Rachel Savage, Rodrigo Campos, Alex Richardson, Toby Chopra, Kirsten Donovan Organizations: International Monetary Fund, Paris Club, French Treasury, Ethiopian, IMF, Club, OCC, China, Thomson Locations: JOHANNESBURG, China, Addis Ababa, Tigray, Ethiopia, France, India, Kuwait, Poland, Saudi Arabia, Turkey

☆ Oil prices fall, extend slide after OPEC+ cuts underwhelm
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. Oil prices fell in early Asian trade on Friday, extended losses after OPEC+ producers agreed to voluntary oil output cuts for the first quarter next year that fell short of market expectations. OPEC+'s output of some 43 million bpd already reflects cuts of about 5 million bpd aimed at supporting prices and stabilizing the market. The total curbs amount to 2.2 million bpd from eight producers, OPEC said in a statement after the meeting. Included in this figure is an extension of the Saudi and Russian voluntary cuts of 1.3 million bpd.

Persons: Alexander Novak Organizations: Brent, . West Texas, OPEC, Saudi Locations: Odessa , Texas, Saudi Arabia, Russia, UAE, Iraq, Kuwait, Kazakhstan, Algeria

☆ Oil prices could reach $100 a barrel in 2024 if OPEC+ members fulfil pledges for voluntary cuts
▼ + stars: | 2023-12-01 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Processing towers stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020. Oil prices are expected to rise in the new year after some OPEC+ oil producers voluntarily pledged to cut output. The oil cartel on Thursday released a statement that did not formally endorse production cuts, but individual countries announced voluntary reductions totaling 2.2 million barrels per day for the first quarter of 2024. Russia said it will cut supply by 300,000 barrels per day of crude and 200,000 barrels per day of petroleum products over the same period. We have to have compliance from the other OPEC nations," Bill Perkins, CEO and head trader of Skylar Capital Management, told CNBC.

Persons: Bill Perkins Organizations: Rosneft Oil, United, United Arab Emirates, Skylar Capital Management, CNBC Locations: Tuapse, Russia, Saudi Arabia, Riyadh, Iraq, United Arab, Kuwait, Kazakhstan, Algeria, Oman

☆ Analysis: The 2023 stock rally is back on track
▼ + stars: | 2023-12-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The US stock market has rebounded from its months-long rut. Stocks finished out their best month of the year on Thursday, breaking a three-month streak of declines for all the major indexes. “The only way I see a rally continuing is if the bond market behaves itself,” said Richard Steinberg, chief market strategist at The Colony Group. While those stocks have remained at the top of Wall Street’s scoreboard, the recent rally has encompassed a wider range of stocks. Long-neglected pockets of the stock market, from beaten-down financials to small-caps to cyclical stocks, have climbed higher in recent weeks.

Persons: Stocks, ”, Richard Steinberg, “, Santa Claus, Ned Davis, Anna Cooban, Elisabeth Buchwald, Nelson Peltz, Nelson Peltz’s, Bob Iger, ” Trian, Trian, Trian’s, Morgan Stanley, James Gorman, Sky Jeremy Darroch, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Nasdaq, Dow Jones, Treasury, The Colony, Wall Street, Ned Davis Research, Organization of, Petroleum, Saudi Press Agency, Ministry of Energy, Saudi, United Emirates, Reuters, Disney, Management, Peltz, Sky Locations: New York, Santa, OPEC, Saudi Arabia, Vienna, Russia, Iraq, United, Kuwait, Kazakhstan, Algeria, Oman, Brazil, Brazil’s

☆ Oil prices set for sixth straight weekly fall as OPEC+ cuts underwhelm
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsDec 1 (Reuters) - Oil prices extended losses on Friday, and looked set for a sixth straight week of declines, as voluntary oil output cuts agreed by OPEC+ producers fell short of market expectations. Saudi Arabia, Russia and other members of OPEC+ agreed to voluntary output reduction of 900,000 bpd in addition to extending 1.3 million bpd in production cuts already in place. Delegates had earlier discussed as much as 2 million bpd in new output curbs. Goldman Sachs said its December forecast for Brent was "moderately tilted" to the downside of its previously estimated range, calling the oil producers' move a "temporary response," and "difficult to implement." Separately, Brazil said on Thursday it would join the OPEC+ next year, though such a move wouldn't bind the south America's largest country to production cuts.

Persons: Tatiana Meel, Brent, Goldman Sachs, Goldman, Laura Sanicola, Stephen Coates, Kim Coghill Organizations: REUTERS, OPEC, Brent, . West Texas, Thomson Locations: Nakhodka, Russia, Saudi Arabia, UAE, Iraq, Kuwait, Kazakhstan, Algeria, Brazil, OPEC

☆ Saudi Arabia is struggling to boost oil prices, raising possibility of supply war with U.S.
▼ + stars: | 2023-12-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

OPEC is facing growing challenges in its efforts to boost oil prices amid record output outside the alliance, particularly in the U.S., raising questions about how long the alliance can maintain its deep production cuts. The outcome is a "bittersweet victory" for OPEC kingpin Saudi Arabia, wrote Jorge Leon, senior vice president of Rystad Energy, in a note Thursday. With oil prices down more than 14% since September highs, traders were hoping that OPEC could provide a boost. In the end, Saudi Arabia may have only one option — launch a supply war by flooding the market with oil. The 2.2 million bpd in voluntary cuts from the coalition of the willing is somewhat deceiving.

Persons: Jorge Leon, bode, Leon, Brent, Natasha Kaneva, Paul Sankey, John Kilduff, Kilduff, it's, Sankey, Kaneva, Goldman Sachs, Goldman, Daan Struyven, Struyven Organizations: Rystad Energy, Traders, Sankey Research, U.S . Oil, U.S, OPEC, United Arab, Goldman Locations: U.S, OPEC, Saudi Arabia, Riyadh, Saudi, China, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, Oman

☆ U.S. crude declines as skepticism mounts over OPEC+ cuts
▼ + stars: | 2023-11-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude declined Thursday, erasing early gains, as traders grew more convinced that OPEC+, a group composed of OPEC plus its oil-producing allies, will not deliver on promised output cuts. Riyadh agreed to extend its voluntary production cut of 1 million barrels per day, a source in the Energy Ministry told the Saudi Press Agency. Iraq is cutting by 223,000 bpd, the United Arab Emirates 163,000 bpd, Kuwait 135,000 bpd, Kazakhstan 82,000 bpd, Algeria 51,000 bpd and Oman 42,000 bpd. OPEC+ has a major problem when it comes to cohesion and compliance on output cuts, said John Kilduff of Again Capital. "They have their hands full and to me it's not going to prove to be a winning strategy for them," he said of the output cuts.

Persons: Brent, Alexander Novak, Phil Flynn, Flynn, John Kilduff, Kilduff, CNBC's, it's Organizations: West Texas Intermediate, Energy Ministry, Saudi Press Agency, United Arab Emirates, Traders, Price Futures, U.S, OPEC, CNBC PRO Locations: OPEC, Saudi Arabia, Riyadh, Iraq, Kuwait, Kazakhstan, Algeria, Oman, Russia, Asia, China

☆ Oil kingpin Saudi Arabia extends its production cut into first quarter as OPEC+ holds policy
▼ + stars: | 2023-11-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023. The OPEC+ alliance had already instituted a 2 million barrel per day cut in place until the end of 2024, with several coalition members voluntarily pledging a further 1.66 million barrel per day decline over that same period. While OPEC+ has not formally endorsed production reductions, market participants are following the possibility of further voluntary cuts announced by key participants to the coalition. Close Saudi ally Kuwait will enforce a 135,000 barrel per day reduction in the first quarter, while the Energy Ministry of OPEC member Algeria said it would trim a further 51,000 barrels per day. Oman said it will also reduce output by 42,000 barrels per day in that same period.

Persons: Alexander Novak Organizations: Organization of, Petroleum, of, OPEC, Energy Ministry Locations: Vienna, Austria, OPEC, Saudi Arabia, Nigeria, Angola, Congo, Saudi, Riyadh, Moscow, Kuwait, Algeria, Oman

OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, is due to hold an online ministerial meeting on Thursday to discuss 2024 production targets. The market tumbled last week when OPEC+ pushed back the original date for its meeting to iron out differences on production targets for African producers. "According to delegates, Saudi Arabia is demanding lower production quotas from the other OPEC+ countries. Oil also found support from a weak dollar, an expected decline in U.S. crude inventories and the drop in Kazakh output. A weaker dollar typically bolsters oil demand, making dollar-denominated oil less expensive for buyers using other currencies.

Persons: Andrew Kelly, Waller, Phil Flynn, Commerzbank's Carsten Fritsch, Christopher Waller, Stephanie Kelly, Alex Lawler, Natalie Grover, Kim Coghill, David Goodman, David Gregorio Our Organizations: REUTERS, Brent, . West Texas, Organization of, Petroleum, Price Futures Group, United, Reuters, American Petroleum Institute, The U.S, Federal, Thomson Locations: Manhattan , New York City, U.S, Russia, Chicago, Angola, Nigeria, Saudi Arabia, Kuwait, United Arab Emirates

They sometimes break barriers and celebrate milestones, like Jabeen becoming the first female Muslim military chaplain a few years ago. In the film and in interviews, they provide a window into the struggles and victories of Muslim chaplains and service members in one of the most American of institutions. “These voices from both sides of the aisle start piling on upon Muslim service members,” Lantigua said. Now is the time for us to go work.’”Not long ago, being a Muslim military chaplain was uncharted territory. Then and now, he said, the presence of Muslim military chaplains helps chip away at misunderstandings, fears and bias.

Persons: Saleha, Jabeen, “ You’re, Major Rafael Lantigua Jr, Lantigua, ” Lantigua, “ We’re, ”, Khallid Shabazz, Islam, who’s, Abu, “, you’ve, Shareda Hosein, David Washburn, ” Jabeen, Muhammad’s, ’ ”, she’s, —, ‘, ’, Abdul Rasheed Muhammad, Muhammad, ” Muhammad, Islam — Organizations: PBS, Army, Muslim Army, ., Pentagon, Lilly Endowment Inc, AP Locations: U.S, Iraq, Lantigua, “, Afghanistan, Texas, Kuwait, Dominican Republic, African American, United States, India, Gaza, Israel

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 27 (Reuters) - OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday. An OPEC+ source said he expected there to be an option for a "collective further reduction" on Thursday, without providing details. OPEC+ sources earlier this month said the group was set to consider additional cuts. OPEC member Kuwait is committed to any decisions issued by OPEC, especially those that concern market quotas and oil production, the country's oil ministry said in a post on social media platform X. This will be followed at 1400 GMT by a meeting of the full policy-making group of OPEC+ ministers, the agenda showed.

Persons: Leonhard Foeger, Ahmad Ghaddar, Alex Lawler, Louise Heavens, Dmitry Zhdannikov, Christina Fincher Organizations: Organization, REUTERS, of, Petroleum, Reuters, OPEC, Thomson Locations: OPEC's, Vienna, Austria, OPEC, Russia, Kuwait, Saudi Arabia, Saudi

☆ The US may no longer be able to fight more than one major war at a time
▼ + stars: | 2023-11-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

During the Cold War, the US had the capacity to fight two wars simultaneously. PoolNow, the Pentagon faces the possibility of war with resurgent major powers Russia and China which can deploy huge militaries and sophisticated weapons. In planning for the possibility of a new world war, the US must look at the global picture. AdvertisementBut China, Russia, Iran, and other US adversaries are drawing closer together, sharing weapons technology and drawing up new alliances, magnifying their threat. "If there's a World War, you know, it won't be the sort of single-handed conflicts that we've sort of gotten used to," he said.

Persons: —, Bradley, Scott Nelson, They've, Raphael Cohen, Cohen, Barack Obama, Donald Trump, Joe Biden, it's Organizations: US, Service, Pentagon, Soviet Union, US Army, RAND Corporation, Defense Strategy, Iran Locations: America, Soviet, Afghanistan, Iraq, China, Kuwait, Soviet Union, Russia, People's Republic of China, Beijing, Ukraine, Taiwan, Iran, Israel, Pacific, Australia, Japan

All have been hit by a boycott campaign over Israel's military offensive in the Gaza Strip since the deadly Hamas attack in southern Israel on Oct. 7. Western brands are feeling the impact in Egypt and Jordan, and there are signs the campaign is spreading in some other Arab countries including Kuwait and Morocco. Videos have circulated of what appear to be Israeli troops washing clothes with well-known detergent brands which viewers are urged to boycott. In Kuwait City on Tuesday evening, a tour of seven branches of Starbucks, McDonald's and KFC found them nearly empty. Previous boycott campaigns in Egypt, the Arab world's most populous nation, had less impact, including those advocated by the Palestinian-led Boycott, Divestment, Sanctions (BDS) movement.

Persons: Mohamed Abd, Reham Hamed, Ahmad al, McDonald's, Jordan, Hossam Mahmoud, Sameh El Sadat, executive's, Issam Abu Shalaby, Farah Saafan, Sarah El Safty, Mai ShamsElDin, Suleiman Al, Ahmed Hagagy, Jonathan Spicer, Aidan Lewis Organizations: Hamas, REUTERS, Gaza, U.S, Kuwait City, McDonald's, KFC, McDonald's Corp, Reuters, BDS, Starbucks, TBS Holding, Malaysian, Cola, Nestle, Turkish, Israel, United Arab, Thomson Locations: Kentucky, Egypt, Gaza, Israel, Palestinian, Cairo, CAIRO, Jordan, Kuwait, Morocco, Amman, Rabat, BDS Egypt, Egyptian, Malaysia, Putrajaya, Saudi Arabia, United Arab Emirates, Tunisia, Khalidi, Danial Azhar, Kuala Lumpur, Kuwait City, Istanbul

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