June, 2017

• 10 June

  Crude falls for third week as glut persists after OPEC cuts

  

  Bloomberg Oil fell for a third week as rising supplies from the US to Nigeria to Libya showed that OPEC is still struggling to clear a global glut. Futures fluctuated in New York, trading at the sub-$50 levels seen before OPEC first agreed to curb output in November. US data showed total crude and product stockpiles rose by the most ...

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• 10 June

  Iran raises oil exports to West, almost on par with Asia

  

  NEW DELHI / Reuters Iran’s oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports said. Iran, which used to be OPEC’s second biggest oil exporter, has been raising output since 2016 to recoup ...

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• 10 June

  Mexico takes first steps towards annual oil hedging program

  

  Bloomberg Mexico has taken the first step in its annual oil hedging program, asking Wall Street banks for price quotes on the put options it buys to lock in prices for the follo- wing year, according to people familiar with the matter. Mexico usually buys put options from a small group of investment banks, starting as early as May but ...

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• 10 June

  East Coast heat wave to jolt US power, gas prices

  

  Bloomberg The most intense heat of the year across the US East Coast may fire up electricity and natural gas prices as households and businesses crank up their air conditioners over the next several days. Simmering temperatures expected to sweep across the US Midwest, mid-Atlantic and Northeast over the next five days may boost power demand to a nine-month high, ...

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• 10 June

  Qatari LNG diversions shock EU traders as crisis intensifies

  

  Bloomberg European energy markets started to feel the impact of the escalating diplomatic row in the Middle East after natural gas prices soared when tankers full of Qatari fuel abruptly changed course. Two ships bound towards Europe veered course, taking them away from the Red Sea and Suez Canal, the transit route for gas into the Mediterranean Sea and a ...

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• 10 June

  India’s top court delays Modi’s plan to link taxes, biometric ID

  

  Bloomberg Indian citizens cannot be forced to enroll for a 12-digit unique identity number to be able file tax returns, the country’s top court said in a ruling that may be a hurdle for Prime Minister Narendra Modi’s plan to move transactions online. The Supreme Court partially stayed a law that made the Aadhaar card mandatory for filing returns or ...

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• 10 June

  China’s factory inflation weakens again as commodity prices ease

  

  Bloomberg China’s producer price gains moderated following further easing in commodity prices, signaling weaker overall inflation pressure in the pipeline. Producer price index rose 5.5 percent in May from a year earlier, compared with an estimated 5.6 percent in a Bloomberg survey and 6.4 percent increase in April. Consumer price index climbed 1.5 percent, versus a prior gain of 1.2 ...

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• 10 June

  S’pore rebound masks consumer pain as job losses mount

  Bloomberg Singapore’s economy may be picking up, but consumers aren’t feeling it. After two years of below-par growth, economists and even the government are becoming more positive on the outlook. While it’s not boom time yet, the consensus is that 2017 growth will come in higher than last year’s 2 percent. A large part of that is down to exports: ...

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• 10 June

  Australian economy lack confidence even with recession fears receding

  Bloomberg Australia saw off recession fears this week, though the economy remains anemic. The local dollar surged toward its best weekly gain since March, only to run into turbulence when data dump showed a tumble in exports. A flattening yield curve and a sliding stock market also highlighted concerns that the nation’s 26-year streak of recessionless growth is getting weary. ...

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• 10 June

  Blackstone’s ‘equity office era’ nears end

  

  Bloomberg The largest real estate buyout of all time is set for its final chapter as Blackstone Group LP moves towards selling San Francisco’s landmark Ferry Building and two other properties. The waterfront icon, with its soaring clock tower modeled on the 12th-century Giralda bell tower in Seville, will go on the sales block in coming weeks, a decade after ...

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