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On August 29th, NBC News, citing two sources familiar with the matter, reported that US Defense Secretary Peter Hegseth has been discussing the possibility of running for president in 2028 with close associates in recent months. Hegseth and his wife believe he shares some similarities with Trump, including a tough, confrontational style and conservative stances on social issues, which could garner support from the MAGA base. This month, Hegseth also traveled to Iowa to campaign for Republican lawmakers. Iowa has long been a key outpost in US presidential elections, further fueling speculation that he is preparing to run. If he does run, Hegseth could compete with Vice President JD Vance, Secretary of State Rubio, and others. However, a Pentagon spokesperson denied the claims, stating that "Secretary Hegseth will not run for president," and that his primary focus remains leading the Department of Defense. The report points out that the ongoing war with Iran could be a major political burden for Hegseth, with 18 US military personnel already killed and the average US gasoline price rising from less than $3 per gallon to slightly over $4.On August 29th, Allianz Chief Economic Advisor Mohamed El-Erian stated that todays changes in the US Treasury yield curve released two signals. The spread between the 2-year and 10-year yields narrowed by approximately 7 basis points, and the spread between the 2-year and 30-year yields narrowed by approximately 10 basis points, showing a flattening trend. El-Erian believes this reflects a dual interpretation in the fixed-income market: in the short term, it represents a hawkish repricing following Federal Reserve Chairman Warshs firm commitment to the inflation target; in the long term, it reflects recognition of the Federal Reserves long-term credibility.According to NBC News, U.S. Defense Secretary Hergsays is considering running for president in 2028.On August 29th, Deutsche Bank economists predicted that the Federal Reserve would raise interest rates by 25 basis points each in September and December. Fed Chairman Warsh, in his Jackson Hole speech, emphasized the need to bring inflation back to the 2% target and released a clearly hawkish signal. Deutsche Bank believes that unless future economic data is "significantly weaker than expected," the threshold for avoiding a 25 basis point rate hike in September is already very high. The market has also quickly increased its bets on rate hikes: CME data shows that the probability of a cumulative rate hike of 50 basis points or more by December has risen to 51%, up from only 29% the previous day; the probability of a cumulative rate hike of 25 basis points is 38%, and the probability of keeping rates unchanged is only 11%. Following Warshs speech, market bets on a September rate hike have also clearly intensified.US President Trump criticized New York Governor Hoher for "taking Canadas side," refusing to use the name "American Lake," and "preferring Canada to win," while also supporting Blackman as the next governor of New York.

The Restart of The Keystone Pipeline And Russian Production Raise Oil Prices

Skylar Williams

Dec 12, 2022 10:22

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Oil prices rose by more than 1 percent in early Asian trade on Monday, as a key Canada-United States crude pipeline remained offline and Russian President Vladimir Putin threatened to cut production in response to a Western price cap on Russian oil exports.


Brent oil futures climbed 83 cents, or 1.1%, to $76.93 per barrel at 00:20 GMT. The price of a barrel of West Texas Intermediate crude rose by 90 cents, or 1.3%, to $71.92.


TC Energy (NYSE:TRP) reported on Sunday that it has not yet identified the cause of the Keystone oil pipeline leak that occurred in the United States last week, nor has it offered a timeline for the pipeline's resumption of operations.


The 622,000-barrel-per-day Keystone pipeline is crucial for delivering heavy Canadian petroleum from Alberta to refiners in the U.S. Midwest and Gulf Coast, and for export.


Putin declared on Friday that Russia, the largest energy exporter in the world, may restrict oil production and refuse to sell oil to any country that places a "stupid" price cap on Russian oil, as agreed upon by the G7 nations.


In a research, ANZ analysts claimed that the uncertainty surrounding European Union sanctions on Russian oil and the related price cap has kept price volatility high, but the restrictions have thus far had minimal influence on global markets.


Brent and WTI recorded their greatest weekly falls in months and touched lows not seen since December 2021 owing to concerns about the impact of a global recession on oil demand.

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