US oil rig counts have now risen for 30 of th elast 32 weeks (up 4 to 529 today) - the highest in a year...
Following lagged oil prices and leading US crude production higher...
While the market continues to ignore this data (for now), we note that if the codependence remains, then OPEC will need to slash output further to balance the market as US shale output is not dropping any time soon.
As we reported yesterday, Lithuania confirmed the presence of U.S. special forces inside its territory, stating the deployment’s purpose is to train local forces and act as a deterrent against Russian aggression. Supposedly, the move is in response to a "escalation" by Vladimir Putin, who has been deploying nuke-ready missiles in the Russian province of Kaliningrad located in the heart of central Europe. This move has prompted the neighboring Baltic states to become “highly concerned” about Russian military activity.
On Thursday evening, during one of his latest Tweetstorms, Trump criticized leaks to several media outlets detailing contents of the classified Russian hacking report which Trump is set to go over any minute.
A senior Jordanian official has warned Donald Trump of “catastrophic” repercussions if he decides to honor his campaign pledge to move the US embassy in Israel from Tel Aviv to the occupied Jerusalem al-Quds. Back in September, Trump promised the Israeli Prime Minister Benjamin Netanyahu that he would recognize Jerusalem al-Quds as Israel’s undivided capital if he won the the US presidential election.
Submitted by Mike Shedlock via MishTalk.com,
The bullsh*t non-news story of yesterday was “Russia celebrated Trump’s election”.
This non-revelation story started with the Washington Post, then spread to NBC News, The Hill, and MarketWatch.
The story is loaded with innuendo and irony, so let’s investigate.