Joseph Branch

Joseph Branch

UAE President to discuss increasing oil supplies to France - Bloomberg

European countries are looking for alternatives to Russian energy amid the crisis in Ukraine, so Macron will host the ruler of the oil-rich UAE in Paris next week. The trip to Paris is due a few days after Biden's first trip to Saudi Arabia. Recall that the UAE has about

Oil collapsed by 5% - the pressure of approaching recession

Today's macro data from Germany showed that the key EU economy is approaching recession. The slowdown in economic activity as well as the "oil war" between Russia and the Persian Gulf is affecting oil prices. Nevertheless, OPEC does not agree that oil demand will stop growing. According to today's data

Rivian plans to cut staff by 5%, company announcement

The infamous electric pickup truck maker's IPO, which turned out to be a disappointing quarterly report for Amazon, joins a number of large companies that have made massive layoffs. The corporate sector continues to try to cut costs.

COVID still hasn't receded: Biden administration extends state of emergency on virus - Bloomberg

According to the agency, the U.S. government will once again extend the public health emergency due to Covid-19. The measures involve providing millions of Americans with access to health insurance and telemedicine services. The Biden administration previously said it would give states 60 days' notice before the emergency ends.

Soon there will be parity - the euro/dollar pair for the first time in 20 years has fallen below 1.01

The U.S. exports inflation to Europe. A strong dollar negatively affects Europe's economy as the cost of imports increases. Inflationary pressures are increasing, which could accelerate the process of recession in the EU.

U.S. should urge India and Japan to support Russia's oil price cap plan - Reuters source

Earlier Bloomberg reported that the G7 countries want to set a price limit of $40-60 per barrel of Russian oil. To force India and China not to buy Russian oil, but to agree to price limits is possible. The countries need cheap oil to beat inflation. But everything will depend

Bullard at the Fed: My baseline scenario is a soft landing of the U.S. economy

Instead of stagflation, it is better to bet that growth will decline to trend and inflation will quickly return to normal. The labor market may cool down a bit, but still remain strong.

Life on the coast is losing popularity: Migration from California accelerated because of the COVID-19 pandemic

Long-term migration from California accelerated during the Covid-19 crisis, according to a study by the Federal Reserve Bank of Chicago. The main destinations are Texas, Washington and Florida. Migration is occurring in sync with the relocation of the headquarters of major companies. For example, Tesla Inc. and Oracle Corp. have

Vitol withdraws from Vostok Oil project, - Interfax

According to Bloomberg, the oil trader entered into an agreement to sell its stake in the project. All that was needed to close the deal was to settle the legal formalities. Vitol owned 5 percent of Vostok Oil, which was worth 3.5 billion euros in October 2021.

Shares of U.S. energy companies rise thanks to oil prices

Last month was not very productive for the energy sector. Shares were declining amid falling oil demand in China, as well as growing recession risks. The last serious drop in oil prices led to even more losses of the sector. Today, however, oil and gas stocks are rising in sync.