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Oil in Global Economy Series

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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

Crude oil benchmarks buoyed by biggest inventory drawdown of this century

Sep 08, 2016 07:48 am UTC| Commentary

Both of the crude oil benchmarks found respite last night after data released from American petroleum Institute (API) showed the biggest inventory drawdown of the 21st century. Crude oil inventories declined by 12 million...

Oil in Global Economy Series

Oil market awaits EIA report

Sep 07, 2016 13:31 pm UTC| Commentary

WTI is struggling to make a directional move, being trapped by the force of both bulls and the bears. While the possibility of a production freeze agreement is providing support to crude benchmarks along with aweaker...

Oil in Global Economy Series

We really must talk about gas

Sep 07, 2016 10:46 am UTC| Insights & Views

The European Commissions latest Quarterly report on electricity markets makes sobering reading down under. Over the last year wholesale electricity prices have been falling just about everywhere across the developed...

Oil in Global Economy Series

Oil in Global Economy Series: Russia rules out cooperation with OPEC

Aug 31, 2016 11:27 am UTC| Commentary

The embarrassing failure of the Doha talks in April still weighing over oil politics. Both OPEC and non-OPEC producers met in Doha with the hope that there could be global coordination on oil production but Saudi Arabias...

Oil in Global Economy Series

Oil in Global Economy Series: Saudi strategy bears fruit for Middle East

Aug 31, 2016 11:27 am UTC| Commentary

Saudi Arabias strategy to keep production high despite declining oil price to push the high cost producers out of the market and force an automatic market-driven adjustment that seems tohave worked. The strategy was also...

Oil in Global Economy Series

Oil in Global Economy Series: Strategic reserves in China and impact on price

Aug 31, 2016 09:10 am UTC| Commentary

An excellent article came from Bloomberg today that has touched upon the mystery of the Chinese excess crude, which possibly s being used to build the strategic crude oil reserve. Worlds second-biggest consumer of crude...

Oil in Global Economy Series

Estimating the 'cost' of fuel tax credits is a tricky business

Aug 29, 2016 07:42 am UTC| Insights & Views Law Economy

In calling for an end to fossil fuel subsidies, critics of Australias fuel tax credits system have highlighted its cost to Australian taxpayers and the budget bottom line. The Greens have said that ending fossil fuel...

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Economy

Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets

Wall Street finished mostly unchanged on Thursday after a volatile session driven by surging oil prices, rising U.S. Treasury yields and increasingly hawkish Federal Reserve signals. The SP 500 closed nearly flat at...

Fed Unveils Stablecoin Rules Under GENIUS Act

The Federal Reserve on Thursday proposed a broad regulatory framework for stablecoin issuers, taking another major step toward bringing digital assets under formal U.S. banking oversight and implementing the GENIUS Act...

US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit

U.S. stock futures fell Thursday as rising Treasury yields and higher oil prices pressured Wall Street, while investors prepared for a closely watched meeting between President Donald Trump and Chinese President Xi...

Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue

The fourth round of Mexico-US trade talks is unlikely to take place next week and could be postponed until October as both countries navigate a busy diplomatic schedule, according to a senior Mexican trade official. Luis...

Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth

Australias labour market delivered mixed signals in August as employment growth comfortably exceeded expectations, while the unemployment rate climbed to its highest level in nearly five years amid increased participation...

Politics

Kremlin Says No Decision Yet on Putin-Trump December Summit

The Kremlin said Thursday that Russia has not yet decided whether President Vladimir Putin will attend a December G20 meeting in Miami, where a potential summit with U.S. President Donald Trump could take place. Moscow...

OpenAI Agent Breaches Australia Medicare Data Portal

An OpenAI artificial intelligence agent gained unauthorized access to an Australian government Medicare statistics portal, prompting a federal investigation and renewed concerns about the cybersecurity risks posed by...

Taiwan Thanks US for Support Ahead of Trump-Xi Summit

Taiwans government on Thursday expressed gratitude for continued US support and said it remains in close communication with Washington as President Donald Trump prepares to meet Chinese President Xi Jinping in the US...

Netanyahu Takes Aim at Mamdani as Israel Election Nears

Israeli Prime Minister Benjamin Netanyahu is expected to use his United Nations address on Thursday to criticize New York Mayor Zohran Mamdani, as the Israeli leader faces international pressure and a closely watched...

Russian Missile and Drone Attack on Kyiv Kills Two, Damages Maternity Hospital

Russia launched a major missile and drone attack on Kyiv early Thursday, killing two people and damaging residential buildings, medical facilities and other infrastructure across the Ukrainian capital, according to...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Oracle Shares Fall as New Mexico AI Data Center Faces Power Delays

Oracle Corp. shares fell after reports that the technology giant is seeking protection from financial obligations linked to its massive artificial intelligence data center project in New Mexico amid regulatory and...

BlackBerry Shares Rise as Q2 Earnings, Revenue Beat Estimates

BlackBerry shares climbed more than 2% in premarket trading Thursday after the cybersecurity and software company reported stronger-than-expected second-quarter results and issued an upbeat full-year revenue outlook....

Apple Extends Qualcomm Patent Licensing Deal

Qualcomm said Thursday that Apple has extended its patent-licensing agreement with the U.S. chip designer, maintaining a key part of their relationship even as the iPhone maker works to reduce its dependence on Qualcomm...

Tencent Launches TenPayGo Payment App for Foreign Tourists in China

Tencent has launched TenPayGo, a new mobile payment app designed to make digital transactions easier for international travelers visiting China, as the technology giant looks to benefit from growing inbound tourism ahead...

China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts

Chinas livestream shopping industry is entering a slower phase, but Li Jiaqi, the influential presenter known as the Lipstick King, believes artificial intelligence will complement rather than replace human hosts. Li, who...