EIA confirmation of OPEC cut-compliance is trumping the dismal inventory data and surging US production for now. However, as US oil rig counts continue to rise (+8 to 591 - highest since Oct 2015) with US crude production charging ahead with it, the question many should be asking (given all-time record high net long speculative positioning in WTI/Brent) is "what will OPEC do if the market doesn't rebalance?"
Russian President Vladimir Putin thanked Slovenia on Friday for offering to host his first meeting with U.S. President Donald Trump, saying he is ready to meet his American counterpart, Donald Trump, however added that the prospect of such a meeting hinges on Washington. "It depends not only on us, but we are naturally ready for it," he said. The Russian leader hailed Slovenia, where Trump's wife Melania was born and grew up, as an "excellent" venue for possible talks with Trump.
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The West Will Become The New ‘Third World’: PricewaterhouseCoopers
Written by Jeff Nielson (CLICK HERE FOR ORIGINAL)
First World
Twice in one week.
Just days after ECB president Mario Draghi (and other Europeans) suggested that Trump's proposed deregulation has "sown the seeds of the next financial crisis", when he told the European Parliament that "the last thing we need at this point in time is the relaxation of regulation. The idea of repeating the conditions that were in place before the crisis is something that is very worrisome", clearly ignoring that one of the biggest timebombs facing the world is his own balance sheet...
Gold Prices Up 5.8% YTD - Trump ‘Honeymoon’ Ends
Gold prices continued to shine this week reaching $1,244.70 per ounce and and has posted gains in five of the last six weeks. This week it reached a new three-month high - it’s highest since the Trump win and has climbed over 6% this year, beating the gains made in the same period in 2016.