Oil Declines As US Inventories Increase, 9 MAY

Oil Declines As US Inventories Increase

Wednesday 08, May 2024 08:13 | Economical Number of readings: 175  Baghdad / NINA / Oil prices fell in early Asian trading on Wednesday, at a time when sector data showed a rise in crude and fuel inventories in the United States, indicating a possible weakness in demand, and caution prevailed in supply expectations before a meeting of the OPEC + bloc next month.

Brent crude futures fell 30 cents, or 0.36 percent, to $82.86 per barrel by 0348 GMT, and US West Texas Intermediate crude futures fell 25 cents, or 0.32 percent, to $78.13 per barrel.

The two crude oil prices witnessed a limited decline in the last session due to indications of a decline in supply scarcity and weak global demand for oil after an International Energy Agency forecast report issued on Tuesday.

US crude inventories increased by 509,000 barrels in the week ending May 3, according to market sources citing American Petroleum Institute figures. She added that gasoline and distillate stocks also rose.

Official government data on crude and fuel inventories in the United States is scheduled to be released at 1430 GMT. Analysts polled by Reuters expected US crude inventories to decline by about 1.1 million barrels last week.

Cautious expectations about supply cuts from the Organization of the Petroleum Exporting Countries and its allies in the OPEC+ bloc before a policy meeting on June 1 also weighed on the markets.

Analysts from ING said, “Oil prices have been subjected to additional pressure due to the increasing commotion surrounding OPEC+ production policy, and expectations are that member states will extend the additional voluntary reduction in supplies beyond the second quarter of this year.”

Hopes of reaching a ceasefire in the Gaza Strip also put additional pressure on oil prices in the previous few sessions./End 9   https://ninanews.com/Website/News/Details?key=1125308

Chat discussion: Al Sudani and Iraq Parliament , 9 MAY

 💢 Love this update from Liberty Lounger Extraordinaire, Birdieorbust. Topic - 

Al Sudani and Iraq Parliament 

5.9.24

Birdie: Parliament is the problem right now with still a bit of evil in there and Sudani is playing his cards right with Parliament not letting them see the budget because the rate is already in the budget and they just want to steal everything so he is playing it close to the vest and will until the evil is no longer a problem. 

Gin: I'm kinda encouraged how it's now public that Iraq has recently executed corrupt troublemakers on May 6. They are obviously cracking down on any infiltration that will prevent their country from moving forward. I'm praying for Al Sudani specifically that he continue to walk in wisdom

PM - Al-Sudani - Golden Opportunity - Private Sector - Contracts - Devel...BY MILITIAMAN

Finance Confirms The Iraqi Government's Desire To Benefit From The Expertise Of French Companies, 9 MAY

 Finance Confirms The Iraqi Government's Desire To Benefit From The Expertise Of French Companies

Money  and business  Economy News – Baghdad   Today, Wednesday, Finance Minister Taif Sami confirmed the Iraqi government’s desire to benefit from the expertise of French companies.

A statement from the ministry received by “Al-Eqtisad News” stated, “Minister of Finance, Taif Sami, received the French Ambassador to Baghdad, Patrick Durel, and the Director of the French Development Agency, Serge Senris, and at the beginning of the meeting, the Minister congratulated the Ambassador on the occasion of assuming his new duties.”

He added, "Areas of cooperation were discussed between Iraq and the agency, especially with regard to the financial sector, investment and technical support. Comprehensive economic and development relations and ways to strengthen them were also discussed."

The Minister of Finance praised the level of fruitful cooperation with the French Development Agency in many areas that are the top priorities of sustainable development plans, especially in the field of contributing to infrastructure reconstruction projects, technical assistance, and technical support.

Views 101   Added 05/08/2024 - https://economy-news.net/content.php?id=43237

BANK STORY FROM DEB VIA GINGER'S LIBERTY LOUNGE ROOM, 9 MAY

 💢Deb222starseed, Liberty Lounger Extraordinaire, shares her bank story 5.9.24 

💢Deb: Hi Fam! Camper story time!

Short version: signed up for Wells Fargo yesterday online, I was divinely guided to do so.

Went in today to put some cash in. Teller very nice and good vibes. I asked if they sold foreign currency,  yes!

But not all! No IDQ and Dong..

me: hhmm

Me: are you under NDA or not of the knowing 

Teller: I'm not under NDA 

You can talk to our bank manager..gives me a card. Hes in a meeting now.. 

me: hhmm

Me: are you tier 1 Basel 3

Teller: yes and smiles 

Me: are you part of the RV reevaluation of currency 

Teller: not sure looking at me smiling and blushing!

Me: is this bank going to be redemption center?

Teller: you'd have to ask the manager! Smiling and blushing! 

Me: ok you just told me without telling me! 

Thank you..I left smiling and dancing!!

Wells Fargo...huge part of it!

Have an amazing day! Oh I asked God to send me a person that would connect to help me. He did! Thank You!! Blessings to all !!

Iraqi Dinar Guru News Highlights (5/9/24)

Holding Meetings Of The Third Session Of The Trade And Investment Framework Agreement Between Iraq And The United States, 9 MAY

 Holding Meetings Of The Third Session Of The Trade And Investment Framework Agreement Between Iraq And The United States

The Ministry of Commerce announced the holding of the meetings of the third session of the Trade and Investment Framework Agreement between Iraq and the United States of America in Washington, D.C., after a break of more than nine years. It was chaired by the Economic Agent on the Iraqi side, Ghassan Farhan Hamid, and on the American side by the Commercial Representation Office.

The economic agent confirmed, according to the ministry’s statement, that the meeting discussed many topics, the most important of which were the agricultural sector, standardization and quality control, the financial system, customs, company registration, intellectual property rights, Iraq’s accession to the World Trade Organization, the health sector, and government contracts.

He added, during the meetings, it was confirmed that the Iraqi government is open to all parties and that economic reform and diversification of the economy are considered among the priorities that are being worked on, and that Iraq is ready to discuss any proposal that leads to strengthening relations between the two countries.

For its part, the American side expressed its great interest in the issues raised and its appreciation for the reform measures undertaken by the Iraqi government.

https://www.radionawa.com/all-detail.aspx?jimare=38195