Authored by Nick Cunningham via OilPrice.com,
Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry.
WTI dipped below $44 per barrel on Tuesday, and the bearish indicators are starting to pile up.
One of the profound revelations from the data released by NSA whistleblower Edward Snowden was that in addition to spying on its own citizens, the NSA engaged in aggressive espionage on some of America's closest allies, most notably Angela Merkel and her Blackberry. It now turns out that Germany had been returning the favor.
US equity futures were marginally in the red, while Asian markets rose and European stocks dropped. WTI oil rose 0.6% to $42.79 as some suggest the time to go long has arrived; oil tumbled 2.3% in the previous session. The Bloomberg Dollar Spot Index fell 0.1 percent.
Here are the main market developments while you were sleeping.
Authored by Mike Shedlock via MishTalk.com,
When it comes to anti-war pieces and matters of the US government overstepping its bounds in matters of privacy and security, The Intercept is usually spot on.
On matters of social justice, The Intercept puts out some nauseating trash.
Intercept writer Zaid Jilani provides a perfect example with JEREMY CORBYN WANTS TO REQUISITION HOMES OF THE RICH FOR FIRE SURVIVORS — LIKE CHURCHILL DID IN WWII.
Less than a month after German Chancellor Angela Merkel warned that “Europe must take its fate into its own hands,” Finance Minister Wolfgang Schaeuble implored US President Donald Trump to reconsider his “America First” policy, claiming that a pullback by the US would risk the destruction of “our liberal world order” by ceding influence to the Chinese and the Russians.