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According to Saudi Arabias Al Arabiya TV on the 6th, the French aircraft carrier "Charles de Gaulle" has arrived in the Mediterranean.On March 6th, Federal Reserve Governor Waller stated that he does not believe the war with Iran will have a lasting impact on inflation. He noted that while consumers may experience a "pricing shock" due to rising gasoline prices, policymakers will see through any one-off price increases. In an interview on Friday, Waller said, "This is unlikely to lead to sustained inflation for us to consider future policy. Thats one of the reasons we dont focus on energy prices. When we look at core measures, those are better predictors of future inflation." He was referring to inflation measures that exclude volatile energy and food prices. Federal Reserve policymakers are expected to keep interest rates unchanged for the second consecutive time when they meet on March 17-18. Given the stabilizing labor market and inflation remaining above the 2% target, officials have signaled patience in considering further rate cuts.Allianz Chief Advisor El-Erian: The UK government bond market is once again demonstrating its "high beta" characteristics – with rising oil prices, borrowing costs are rising more significantly than in other developed economies.Chart: Speculative Sentiment Index on Friday, March 6, 2026March 6th - Chris Turner of ING stated that the pounds rally against the euro is unlikely to continue further due to the potential negative impact of rising energy prices on UK government bonds. Short-term interest rates for the pound are rising as rising energy prices prompt the market to reduce its expectations for a Bank of England rate cut. However, Turner pointed out that this could cause problems for the UK government bond market, which is currently overweight. He stated that while the pound is enjoying the short-term benefits of high interest rates, there is a risk of bond market turmoil triggered by energy price shocks. In this scenario, UK government bonds could drag the pound back down in the coming weeks.

Oil Prices Continue to Fall in Early Trade

Aria Thomas

Apr 11, 2022 09:33

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The market has been closely following events in China, where authorities have confined Shanghai, a metropolis of 26 million people, to a "zero tolerance" policy for COVID-19. China is the world's largest importer of oil.


The International Energy Agency's (IEA) member states will release 60 million barrels over the next six months, with the US matching that amount as part of the 180 million barrel release announced in March.


The publication might also prevent producers, notably OPEC and US shale producers, from pursuing production increases even at prices around $100 a barrel, ANZ Research analysts said in a report.


However, the OPEC+ group of oil exporting countries has shown no sign of increasing its production objectives beyond the 400,000 barrels per day added monthly as part of the reinstatement of supply limits.


The IEA release would provide around 2 million barrels per day of supply for the next two months – plus an additional 1 million barrels per day from the United States for the next four months. It is unknown if this will compensate for the shortage of Russian oil after that country's invasion of Ukraine.


Russia's oil and gas condensate output declined to 10.52 million barrels per day (bpd) in April from an average of 11.01 million bpd in March.

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