Beijing has warned Washington against any actions which would challenge China’s “sovereignty and security” The warning was in response to reports that the US was planning fresh naval patrols in the disputed South China Sea. Chinese Foreign Ministry spokesman Geng Shuang said that tensions in the waters have stabilized due to the hard work of Beijing and Southeast Asia countries.
Just as oil was set to test session lows after another massive oil build, sending US crude inventories to all time highs, many were wondering if the same exact algos that struck for the past weeks, would reappear sending oil surging on negative data would hit again. The answer: a resounding yes.
While it is difficult to explain why oil prices are rising, the rally it's coming on very strong volume as someone clearly thinks it's time to buy crude, again, and doing so with gusto.
Submitted by Nick Cunningham via OilPrice.com,
Oil prices have traded reliably in the $50s per barrel since OPEC agreed to cut production last November, but having failed to break through a ceiling in the upper-$50s, crude prices are in danger of falling back again.
The global "risk on" melt-up continues.
After a modestly hawkish Yellen warned that every meeting is live, and refused to take March off the table, sending the dollar and yield higher and the S&P to fresh record highs, world stocks rose hitting a 21-month high on Wednesday with the dollar rising for the 11th straight day, the longest positive streak since July 2015.
Five hundred US troops and tanks have arrived in Romania in preparation for a showdown with Russia. The troops arrived in a Romanian Black Sea port on Tuesday as part of a move to help support NATO deal with so-called “Russian aggression.” Presstv.com reports: US Ambassador Hans G. Klemm said the troops would be stationed in an airbase in the country’s east on a rotating basis.