Despite weak equity markets in Europe, gold remains in the red due to the strong dollar.
Tomorrow will also be the numbers on the US labor market opened and could thus provide more movement in dollars and gold . Let’s start with the ADP monthly report (14.15) on the development of new jobs. James Bullard, of the St. Louis Fed, might be in for a statement tonight about any signs of future US monetary policy provide the gold price with new impetus in one or the other direction.
Continue reading “Gold: stagnation before the flood of data on the US labor market”
The French oil company TOTAL wants to withdraw from a billion dollar deal with Iran, if he gets from the US no exemption from the announced sanctions.
TOTAL will then be unable to continue the project to develop the South Pars gas field in the Persian Gulf, the company announced on Wednesday. It would then have to do all business before 4 November. The project also involves the Chinese oil company PetroChina .
US President Donald Trump had canceled the nuclear deal with Iran last week. The suspended US economic sanctions against the country are expected to come back into force shortly, which may also affect non-US companies.
The French company argued that it could not afford to be exposed to secondary sanctions. TOTAL identified potential problems as being the loss of US dollar financing of its worldwide operations by American banks, the loss of its US shareholders, or the inability to continue its US operations.
Continue reading “TOTAL wants to give up Iran’s major project without exemption from US sanctions”
For decades, Saudi Aramco was a giant with no profile: everyone knew that the oil company was making billions, but how much was always unclear. Now, before the historic IPO, details leaked for the first time.
Apple, Amazon and the Google mother alphabet are running a race for the first group with a market value of one trillion dollars. But it would have to be more precise: the first group with a market capitalization of more than 1,000 billion US dollars.
Currently, Apple comes to 883 billion, Amazon to 701 billion and Alphabet to 719 billion US dollars stock market value. But that’s nothing compared to Saudi Aramco, the Saudi oil giant, which is said to be worth $ 2 trillion
A small part of the Saudis want to go public, and for the first time leaked to the business Saudi Aramcos concrete figures to the outside. For decades, the result of the group was accessible only to a small circle of initiates.
Continue reading “IPO of superlatives: Finally, hot details about Saudi Aramco”
Oil prices prolonged gains to hit two-week highs on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies.
U.S. West Texas Intermediate crude for April delivery was up 25 cents, or 0.4 percent, at $63.80 a barrel by 0301 GMT after rising 3 percent last week.
London Brent crude gained 13 cents, or 0.2 percent, to $67.44, after climbing nearly 4 percent last week.
Both benchmarks earlier hit their highest since Feb. 7.
Continue reading “Saudi Arabia maintains oil export cuts as oil hits a 2 week high”