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The slide in oil comes despite a historic deal which will see UBS, Switzerland's largest bank, buying the country's No. "The market focus is on current banking sector volatility and the potential for further rate hikes by the Fed," said Baden Moore, National Australia Bank's head of commodity research. A slowdown in interest rate hikes could depress the greenback, making dollar-denominated commodities like crude oil more affordable for holders of other currencies. "The U.S. Fed will be most important institution to watch this week," said Commonwealth Bank of Australia analyst Vivek Dhar in a note. Separately, Goldman Sachs cut its forecasts for Brent crude after prices plunged on banking and recession fears.

☆ Oil falls 3% on U.S. rate hike expectations, strong U.S. dollar
▼ + stars: | 2023-03-07 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Brent crude futures shed $2.35, or 2.7%, to $83.83 a barrel by 1:05 p.m. EST (1805 GMT) . U.S. West Texas Intermediate crude dropped by $2.48 a barrel, or 3%, at $77.98. Prices sank after Powell told Congress the Fed would likely need to increase rates more than expected in light of recent strong economic data. More pressure came from a contraction in China's exports and imports in January and February, including crude oil imports, despite a lifting of COVID-19 restrictions. The American Petroleum Institute's weekly report is due at 2130 GMT on Tuesday, with U.S. Energy Information Administration data following at 1530 GMT on Wednesday.

☆ Oil falls 2% on U.S. rate hike expectations, stronger U.S. dollar
▼ + stars: | 2023-03-07 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Brent crude futures shed $1.46, or 1.7%, to $84.72 a barrel by 11:06 a.m. EST (1606 GMT). Prices declined after Powell told Congress the Fed would likely need to increase rates more than expected in light of recent strong economic data. The remarks pushed up the U.S. dollar , which rose 0.70% on the day at 104.97. A stronger dollar typically reduces demand for dollar-denominated oil from buyers paying with other currencies. Further pressure came from a contraction in China's exports and imports in January and February, including crude oil imports, despite a lifting of COVID-19 restrictions.

☆ Oil edges lower on stronger dollar and weak Chinese data
▼ + stars: | 2023-03-07 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

Prices declined as the U.S. dollar rose ahead of Federal Reserve Chair Jeremy Powell's testimony to Congress at 1500 GMT on Tuesday. A stronger dollar typically reduces demand for dollar-denominated oil from buyers paying with other currencies. Further pressure came from a contraction in China's exports and imports in January and February, including crude oil imports. U.S. crude inventories could register their first decrease in 10 weeks, a Reuters poll showed before official data is published this week. The American Petroleum Institute's weekly report is due at 2130 GMT on Tuesday, with Energy Information Administration data following at 1530 GMT on Wednesday.

Brent crude futures rose 18 cents to $86.36 per barrel by 0730 GMT after settling 0.4% higher on Monday. U.S. West Texas Intermediate crude was at $80.62 per barrel, up 16 cents, following a 1% gain in the previous session. "The supply concerns that helped oil prices higher overnight likely stemmed from Chevron's CEO comment that there's 'not a lot of swing capacity' in oil markets," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "The key unknown for 2023 will be the disruption to Russia's oil and refined product exports." ET (2130 GMT) on Tuesday, and at 10:30 a.m. (1530 GMT) on Wednesday from the Energy Information Administration.

☆ Oil edges up on supply concerns, China demand hopes
▼ + stars: | 2023-03-07 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

Companies Chevron Corp FollowSINGAPORE, March 7 (Reuters) - Oil prices edged up after industry executives flagged concerns about limited spare capacity in the market and uncertainty over Russian supplies while demand from top crude importer China is recovering. Brent crude futures had risen 40 cents, or 0.5%, to $86.58 a barrel by 0154 GMT after settling 0.4% higher on Monday. "The supply concerns that helped oil prices higher overnight likely stemmed from Chevron's CEO comment that there's 'not a lot of swing capacity' in oil markets," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. "The key unknown for 2023 will be the disruption to Russia's oil and refined product exports." ET (2130 GMT) on Tuesday, and at 10:30 a.m. (1530 GMT) on Wednesday from the Energy Information Administration.

☆ Oil steady as market juggles supply and demand fears
▼ + stars: | 2023-03-07 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

Brent crude futures fell 22 cents, or 0.26%, to $85.96 a barrel by 1043 GMT. Bearish sentiment surrounded a contraction in China's exports and imports in January and February, including crude imports. The decline came despite a lifting of COVID-19 restrictions, pointing to weakness in foreign demand. "The key unknown for 2023 will be the disruption to Russia's oil and refined product exports," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. The market will also look for direction from U.S. Federal Reserve Chair Jerome Powell's testimony before the Senate Banking Committee at 1500 GMT on Tuesday.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ This is one metal investors can consider buying on dip 'at any chance' they get, according to an analyst
▼ + stars: | 2023-03-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

The benchmark 62%-grade iron ore last traded at $126.80 per ton. Vincent Mundy | Bloomberg | Getty ImagesFalling prices for global crude steel output could also contribute to lower iron ore prices. "Global crude steel output fell modestly in year-on-year terms last month ... The result was driven by a fall in steel output amongst most of the world's largest steel producers." World crude steel output recorded a 3.3% drop in January compared to the same period last year, according to the World Steel Association.

☆ An ex-Instagram employee says Meta's 'impatience' has hurt its shopping efforts
▼ + stars: | 2023-02-22 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

But as Instagram axes shopping products, ex-staffer Meghana Dhar points to Meta's "impatience." The moves have left many asking: What's going on with Instagram shopping? While at Instagram, Dhar worked on Instagram's early shopping features, from onboarding brands to getting John Mayer to host a live shopping event with laundry company The Laundress. But it's also had a tendency to launch and then axe shopping products, like Instagram (and Facebook) live shopping and affiliate marketing. Scaling back on shopping, for now, could also be a blessing in disguise for Meta, Dhar added.

☆ Biden signs TikTok ban for government devices amid security concerns
▼ + stars: | 2022-12-30 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +8 min

President Joe Biden approved a limited TikTok ban Thursday when he signed the 4,126-page spending bill into law. The ban prohibits the use of TikTok by the federal government’s nearly 4 million employees on devices owned by its agencies, with limited exceptions for law enforcement, national security and security research purposes. Since 2020, a bubbling movement led largely by conservatives has maintained a minor interest in a TikTok ban. “We’re disappointed that Congress has moved to ban TikTok on government devices — a political gesture that will do nothing to advance national security interests — rather than encouraging the Administration to conclude its national security review,” the company said in a statement. It added that the proposed security agreement with the Biden administration would address the security concerns of lawmakers and regulators.

☆ Cap on Russian oil prices is probably too high to be effective, economist says
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCap on Russian oil prices is probably too high to be effective, economist saysVivek Dhar of CBA says it remains to be seen whether disagreement from Poland and the Baltic states will lower the oil price cap.

☆ The G-7 may cap Russia's oil price — but it won't dent Moscow's war chest, analysts say
▼ + stars: | 2022-11-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

(Photo by JOE KLAMAR / AFP)The Group of 7 nations are in talks to cap Russian oil at $65 and $70 a barrel — but analysts say it likely won't have a significant impact on Moscow's oil revenues even if it's approved. Russia has threatened to it will not supply oil to countries setting and endorsing the price cap. In a note on Thursday, he said that current Russian oil shipments face minimal disruption from the European Union denying shipping and insurance services. He agreed that the discussed price cap won't make much of a dent or deter Moscow in its war against Ukraine. "Russia's seaborne oil exports have increased to China, India and Turkey at the expense of advanced economies following the Ukraine war," he added.

☆ Oil drops as Russian price cap proposal eases concerns about tight supply
▼ + stars: | 2022-11-24 | by ( Yuka Obayashi | ) www.reuters.com time to read: +4 min

Both benchmarks plunged more than 3% on Wednesday on news the planned price cap on Russian oil could be above the current market level. A higher price cap could make it attractive for Russia to continue to sell its oil, reducing the risk of a supply shortage in global oil markets. "If the EU agree to an oil price cap of $65‑$70/bbl this week, we see downside risks to our oil price forecast of $95/bbl this quarter," Dhar said. Commonwealth Bank's $95/bbl forecast was based on the assmption that EU sanctions and a price cap on Russian oil would disrupt enough supply to offset global growth concerns, Dhar said. Some Indian and Chinese refiners are paying prices below the proposed price cap level for Urals crude, traders said.

☆ Oil drops as Russian price cap proposal eases tight supply fears
▼ + stars: | 2022-11-24 | by ( Yuka Obayashi | ) www.reuters.com time to read: +3 min

Both benchmarks plunged more than 3% on Wednesday on news the planned price cap on Russian oil could be above the current market level. "If the EU agree to an oil price cap of $65‑$70/bbl this week, we see downside risks to our oil price forecast of $95/bbl this quarter," Dhar said. Commonwealth Bank's forecast assumed EU sanctions accompanied by a price cap on Russian oil would disrupt enough supply to offset ongoing global growth concerns, he said. Some Indian and Chinese refiners are paying prices below the proposed price cap level for Urals crude, traders said. EU governments will resume talks on the price cap on Thursday or Friday, according to EU diplomats.

☆ Oil falls as supply-disruption fears ease amid Russian price cap talks
▼ + stars: | 2022-11-24 | by ( Yuka Obayashi | ) www.reuters.com time to read: +3 min

Summary G7 price cap on Russian oil could be above current tradinglevelEIA U.S. gasoline stocks data shows higher-than-expected buildU.S. may soon authorize Chevron to boost Venezuelan outputTOKYO, Nov 24 (Reuters) - Oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil. Both benchmark contracts plunged more than 3% on Wednesday on news that the planned price cap could be above the current market level. "If the EU agree to an oil price cap of $65‑70/bbl this week, we see downside risks to our oil price forecast of $95/bbl this quarter," Dhar said, adding that the forecast assumed EU sanctions accompanied by a price cap on Russian oil would disrupt enough supply to offset ongoing global growth concerns. EU governments will resume talks on Thursday evening or on Friday, according to EU diplomats. read moreBoth Venezuelan parties and U.S. officials are pushing to hold talks in Mexico City this weekend, the people said.

☆ Oil climbs as dollar slips, but demand outlook clouds market
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Friday as the dollar slipped but were headed for hefty weekly losses on expectations there will be no let-up in sharp U.S. interest rate hikes and the prospect of weaker demand from top oil importer China amid rising COVID-19 cases. A slight decline in the dollar helped oil prices on Friday, as a weaker greenback makes oil cheaper for buyers holding other currencies. "Oil prices remain under pressure, with demand squeezed by mounting China COVID-19 cases and fears of more aggressive hikes in U.S. interest rates," said Stephen Innes, managing partner at SPI Asset Management, in a note to clients. Remarks from U.S. Federal Reserve officials this week dashed hopes of any tempering of aggressive U.S. interest rate hikes. "The policy settings in the city of Guangzhou in southern China, where COVID‑19 cases have surged significantly, will be important to watch," Commonwealth Bank commodities analyst Vivek Dhar said in a note.

SINGAPORE, Nov 11 (Reuters) - Oil prices picked up on Friday after a milder than expected U.S. inflation data reinforced hopes that the Federal Reserve will slow down rate hikes, boosting chances of a soft landing for the world's biggest economy. Prices were still set to show a decline for the week after COVID-19 cases in top oil importer China jumped, raising fears of weaker fuel demand. Brent crude futures rose 21 cents, or 0.2%, to $93.88 a barrel at 0500 GMT, extending a 1.1% rise in the previous session. "Since traders are hyper-sensitive to lockdowns in the world's largest oil importer, this could temporarily hold the oil market's top-side ambition in check," said Stephen Innes, managing partner at SPI Asset Management. Reporting by Sonali Paul in Melbourne and Jeslyn Lerh in Singapore; Editing by Bradley Perrett & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Oil crawls higher on U.S. hopes, but COVID rise in China caps gains
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Brent crude futures were up 23 cents, or 0.3%, to $93.80 a barrel at 0101 GMT, extending a 1.1% rise in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 28 cents, or 0.3%, to $86.75 a barrel, after climbing 0.8% in the previous session. So far this week, WTI has fallen more than 6%, while Brent has dropped nearly 5%. A weaker U.S. dollar boosts oil demand as it makes the commodity cheaper for buyers holding other currencies. "Since traders are hyper-sensitive to lockdowns in the world's largest oil importer, this could temporarily hold the oil market's top-side ambition in check.

☆ Oil crawls higher on U.S. hopes, but Covid rise in China caps gains
▼ + stars: | 2022-11-11 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures were up 23 cents, or 0.3%, to $93.80 a barrel at 0101 GMT, extending a 1.1% rise in the previous session. So far this week, WTI has fallen more than 6%, while Brent has dropped nearly 5%. A weaker U.S. dollar boosts oil demand as it makes the commodity cheaper for buyers holding other currencies. "Since traders are hyper-sensitive to lockdowns in the world's largest oil importer, this could temporarily hold the oil market's top-side ambition in check. Hopes that China was going to ease its zero Covid policy pumped up the oil market last week, but comments from health officials this week made it clear they would continue to strictly curb any outbreaks.

☆ Oil falls for a fourth day as China COVID concerns grow
▼ + stars: | 2022-11-10 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

MELBOURNE, Nov 10 (Reuters) - Oil prices fell for a fourth day on Thursday on concerns that new COVID curbs in China, the world's biggest crude importer, will impact fuel demand. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents at $85.52 a barrel. Adding to market gloom was a big build in U.S. crude inventories reported on Wednesday. However, gasoline inventories fell by 900,000 barrels to their lowest since November 2014 and distillate stockpiles fell by 500,000 barrels. Bearishness around the rise in U.S. crude oil stockpiles may have been overdone, Commonwealth Bank analyst Vivek Dhar said.

☆ Movement to ban TikTok: What midterms could mean for future of app
▼ + stars: | 2022-11-05 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +8 min

The effort to ban TikTok is back, and it could gain more strength after the midterm elections. Alex Brandon / AP fileExperts said there’s a steep hill to climb for those who want a total TikTok ban, but the midterms could provide a push. The renewed push for a TikTok ban or forced sale is taking place while the company is in negotiations with the Biden administration on a potential written security agreement. TikTok says it believes the agreement would address not only privacy concerns but how the app moderates content. Rubio is co-sponsoring legislation to ban TikTok from all U.S. government devices.

☆ Stock picking isn't dead. But it might as well be for most investors
▼ + stars: | 2022-10-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

Index funds tend to be cheaper. Obviously, index provider S&P Global (SPGI) has a vested interest in promoting passive funds backed to various benchmark indexes. Even legendary investing guru Warren Buffett of Berkshire Hathaway (BRKB) has extolled the virtues of index funds for average investors. He noted that just one of every four active funds beat their passive benchmarks over the ten years ending in June. That’s why some investors aren’t singing a funeral dirge for active stock picking – just yet.

☆ Sanctions on Russia aluminum could send ripple effects through global supply chains
▼ + stars: | 2022-10-21 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

watch nowAluminum is the latest casualty of global economic headwinds as prices sink amid alleged dumping of Russian aluminum, weakening global demand and soaring operational costs. Earlier this week, stocks of aluminum in the London Metals Exchange (LME) warehouses leapt, sparking concerns of potential dumping of Russian-origin aluminum. The White House is already considering a ban on aluminum imports from Russian producer Rusal. Aluminum is the latest casualty of global economic headwinds as prices sink amid alleged dumping of Russian aluminum, weakening demand across the world including China and soaring operational costs. Any influx of Russian aluminum into LME warehouses also pose a more complex problem, Dhar said in a note.

☆ Oil prices rise on possible easing in China COVID quarantine measure
▼ + stars: | 2022-10-20 | by ( Emily Chow | ) www.reuters.com time to read: +4 min

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. U.S. West Texas Intermediate crude for November delivery (WTI) , which expires on Thursday, rose $1.29, or 1.5%, to $86.84 per barrel. Bloomberg news reported on Thursday that China is considering cutting the quarantine period for inbound visitors to seven days from 10 days, citing people familiar with the matter. "Short of an unlikely shale oil revival, there are few lasting policy measures the Biden administration can use to effective push oil much lower." "EU sanctions on Russian oil imports will likely become the focus of the oil market in coming weeks... We expect Brent oil futures to average $100 per barrel in Q4 2022 on the back of supply disruption from the EU sanctions," Dhar added.

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