European stocks rose amid earnings beats, offsetting weakness in the energy sector and easing investor concerns ahead of the weekend’s French election. Asian shares and U.S. futures also rise. The dollar weakens against the euro and most crosses, while crude oil rebounds following renewed OPEC chatter of a production cut, this time with Saudi Arabia seemingly onboard.
Authored by James Bambino via Platts blog,
This is the first part of a three-part series on headwinds facing the crude market.
These have been interesting times in the crude market. Prices had been trading comfortably above $50/b since late March, with bulls re-trenching on the idea that Saudi-led OPEC supply cut will soon tighten balances.
While the Fed's traditionally drab Beige Book described the US economy in conventional terms, growing "at a modest to moderate" pace, one relatively new development was the recurring complaint by employers that they are having an increasingly more difficult time in finding qualified and skilled workers to fill empty positions.
Earlier this morning Vice President Pence offered up one of the Trump administration's most stern warnings yet to North Korea saying that the U.S. would "defeat any attack and meet any use of conventional or nuclear weapons with an overwhelming and effective American response." Per The Hill:
"The United States of America will always seek peace but under President Trump, the shield stands guard and the sword stands ready."
Authored by Brandon Smith via Alt-Market.com,