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April 14th - According to a CNN report on Monday, a source familiar with the negotiations revealed that the Trump administration is discussing the specific details of arranging a second round of face-to-face talks with Iranian officials before the US-Iran ceasefire expires next week, depending on the situation. However, whether such a meeting will actually take place remains uncertain. If negotiations with Iran and regional mediators progress in the coming days, officials are studying potential dates and locations for the talks, describing these discussions as an initial phase. "If the situation develops in that direction, we need to be prepared to quickly initiate the relevant arrangements," the source said. A regional source indicated that a new round of negotiations is possible, with Turkey working to bridge the differences between the two sides. Sources familiar with the matter revealed that Geneva and Islamabad have again been listed as potential locations for the next round of negotiations. Sources said that government officials remain hopeful of resolving the issue through diplomatic means. Depending on the pace of progress in negotiations in the coming days, the US and Iran may also extend the ceasefire to buy more time.On April 14th, Bank of England Governor Andrew Bailey warned on Monday that private credit funds are facing a higher risk from a one-off shock that could shake confidence across the industry. In his capacity as Chairman of the Financial Stability Board (FSB), Bailey wrote to finance ministers outlining how the Middle East conflict could, for the first time, test the $1.8 trillion global private credit market, as some highly leveraged borrowers face pressure. Bailey wrote, “The lack of transparency in these markets presents a higher risk, and even if the specific cause of the problem is limited to individual borrowers, it could trigger a broader loss of confidence.” He added that the FSB will “continue to monitor and conduct further work in the coming months.” The FSB is currently preparing a detailed report on private credit vulnerabilities, aiming to uncover hidden corners of the market that policymakers have been concerned about for years, an area that has expanded rapidly in a relatively lax regulatory environment.According to Futures News on April 14, as of the close of trading at 2:30 PM, the main Shanghai Gold futures contract fell by 0.48%, the main Shanghai Silver futures contract fell by 0.19%, and the main SC crude oil futures contract rose by 0.65%.April 14th - As of 2:30 PM closing, the Shanghai Gold futures contract fell 0.48% to 1043 yuan/gram, the Shanghai Silver futures contract fell 0.19% to 18632 yuan/kilogram, and the SC Crude Oil futures contract rose 0.65% to 653 yuan/barrel.According to Politico: The U.S. Senate Banking Committee has received Warshs ethics filings but is still awaiting his responses to the questionnaire.

WTI fluctuates below $80 as investors redirect their attention to Fed comments

Alina Haynes

Nov 30, 2022 15:23

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West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) are fluctuating below the key resistance of $80.00 during the early European session. As investors anticipate a fresh impetus from Federal Reserve (Fed) chairman Jerome Powell's upcoming address, oil prices have been neglected by market players.

 

The black gold has drifted sideways following Monday's phenomenally strong buying action near $74.00. Prior to Fed Powell's speech, the recent increase and bullish expectations for oil prices are contingent on considerable pressure on the US Dollar. After a dip in inflation in October, investors are eager to know if the Federal Reserve is seriously considering a slower rate of interest rate increases.

 

The United States American Petroleum Institute (API) reported a large decline in oil inventories for the week ending November 25. This has also contributed to a rise in oil prices. The oil supply has decreased by 7.85 million barrels. This is the third straight decline in oil inventory published by the API, which has given the oil bulls a shot of adrenaline. However, investors will await the Energy Information Administration's (EIA) official oil inventory report for relevant indicators.

 

The case for supply concerns has been supported by news reports from Russia that the country will not provide oil under a price cap anyway, as stated by the country's Deputy Prime Minister, Alexander Novak.

 

In addition, predictions that OPEC+ will expand supply cutbacks at its December meeting are keeping oil bulls in check. The oil cartel declared that the promise to reduce production by two million barrels per day will be extended to the end of CY2023. In light of the current decline in oil prices, the oil mafia may increase production cuts.


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