SUPPLY WORRIES
Chinese overcapacity has significant spillovers around the world: US
In his remarks, Shambaugh said the US is not isolated in seeking to address negative spillovers from China's non-market practices.
Oil prices little changed, concerns about damage from hurricane ease
Hurricane Beryl minimally impacted Texas oil production, lowering prices. Brent fell to $85.71, WTI to $82.28. Texas, producing 40% of U.S. oil, saw Corpus Christi Ship Channel reopen and Port of Houston resuming operations. Gulf Coast refineries reported minimal impact. A potential Middle East ceasefire in Gaza, with U.S. officials in Egypt for talks, influenced the market.
Oil settles lower on worries Hurricane Beryl could hit US demand
Oil prices declined as Hurricane Beryl impacted U.S. refinaries, lowering Brent futures to $85.75. Gaza ceasefire hopes eased supply concerns. Texas faced significant damage; Kazakhstan to compensate for OPEC+ excess. China’s imports fell, India’s fuel consumption rose. Analysts, including Gelber and Ritterbusch, noted de-risking. U.S. and UK elections may influence outcomes.
Bitcoin sinks 8% to four-month low, ether slides 9%
Bitcoin fell to $53,918. Ether dropped to $2,855. Concerns about Biden’s debate, potential Democratic replacement, and Mt. Gox sell-off impacted the market.
For American brands worried about China, Is India the future?
The surge of multinational brands in India's manufacturing sector signals a shift towards diversification and job creation. Companies like Shree Krishna are fulfilling substantial orders for global retailers, highlighting India's growing importance in the global supply chain.
The worrying changes in India’s monsoon patterns have implications for everything from agriculture to health
Take Maharashtra, 80% of which is rainfed. In areas such as Vidarbha and Marathwada, the onset of monsoon is now late. After a small pickup in July, there is a break in rainfall in August, lasting up to three-four weeks during the fruit formation phase. The wet spell starts again in September and continues well into October, when it should be dry. This isn't limited to Maharashtra. Several critical areas considered the breadbasket of India—Bihar, West Bengal and Uttar Pradesh—are witnessing the same pattern.
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Oil prices slide on fears of slow US demand after surprise inventory build
Oil prices dropped due to rising U.S. stockpiles, affecting market sentiment. Brent crude traded at $84.17, and U.S. West Texas Intermediate at $80.58 per barrel. Escalating conflicts in Gaza, notably in Rafah, contribute to market uncertainties amidst concerns over weakening demand.
All about China's War Game Exercise that Left the U.S. Air Force Worried
The US is concerned about growing cyber threats from China. The FBI Director has warned that there are multi-pronged threats against the US interest. Analysts have noted that there is a need for joint efforts to tackle this growing menace.
Oil prices steady as markets weigh supply tensions, China economic recovery
Oil prices remained steady on Tuesday, balancing concerns over China's economic recovery, tensions in the Middle East, and Ukrainian attacks on Russian refineries.
India imposes stock limits on tur, chana to cool prices
India has imposed stock limits on pigeon peas (tur) and chickpeas (chana) in efforts to stabilize prices and prevent hoarding amidst elevated food costs caused by reduced supplies from factors like drought and heat waves. The limits apply to traders, businesses, and retailers, with specific caps such as 200 metric tons for wholesalers and five metric tons for retailers. Millers are restricted to either the last three months of production or 25% of annual capacity.
Brent rises toward $86 as cooling US jobs market buoys rate cut hopes
Oil futures hit a seven-week high on Thursday as fresh data on a cooling U.S. jobs market added to hopes that the Federal Reserve could still cut interest rates this year.
Oil softens to $82 a barrel on Fed rate decision, ample supply outlook
Oil prices slipped on Thursday as investors digested that the U.S. Federal Reserve had likely pushed back an interest rate cut to December and as U.S. crude and fuel stocks rose.
Oil slips on US growth worries, ample crude supply
Oil prices fell as U.S. Federal Reserve maintained interest rates, impacting market sentiment. Concerns over supply disruptions and ceasefire negotiations in Gaza added volatility to the market.
Edible oil prices rise 15% in a month
Companies like Adani Wilmar, Emami Agrotech, and Sunvin Group said while disruption in soyabean oil supplies from Argentina and Brazil is driving prices higher, mustard oil prices have risen as National Agricultural Cooperative Marketing Federation of India (NAFED) and Haryana State Co-operative Supply and Marketing Federation Ltd (HAFED) have purchased large quantities of mustard seeds.
Oil falls more than $1 on worries of supply rising later in 2024
Oil prices fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand.
Oil prices extend losses on worries of supply rising later in 2024
Oil prices fell with Brent crude at $78.16 and U.S. West Texas Intermediate at $74.05. OPEC+ extended output cuts into 2025. GasBuddy data indicated a decline in U.S. gasoline prices.
Oil dives 3%, OPEC+ decision fails to allay demand worries
OPEC+ on Sunday agreed to extend most of its deep oil output cuts into 2025 but left room for voluntary cuts from eight core members to be gradually unwound from October onwards. The group also agreed to a new output target for the United Arab Emirates, which has been pushing for higher quota.
Ships diverted from Red Sea send ripple effects across the globe
Supply chain managers paying for the services look to place order in advance as ships face extended journeys since they spend more time at anchor.
Trade strains boost cargo rates at pace recalling Covid ‘chaos’
Global goods trade is rebounding, boosting shipping rates and triggering memories of past disruptions for supply-chain managers.
Pieter Elbers explains what is driving up IndiGo profitability and double-digit capacity guidance for FY25
Pieter Elbers, CEO of InterGlobe Aviation, highlights IndiGo's unique position with over 50 planes delivered annually. Q4 revenue drivers include Indian market growth and strategic initiatives. He discusses the seasonally weak Q4 yields and predicts similar revenue environment for Q1 FY25. Elbers says their strategy is starting to take shape and resonating very well for all the different initiatives.
Supermarkets tell Britishers not to panic after survival kit advisory
UK retailers caution against bulk-buying as government advises having 3 days' worth of supplies. Andrew Opie from British Retail Consortium emphasizes most households already have enough non-perishables. Government launches 'Prepare' website for emergency preparedness.
Bad weather and war are straining the world’s wheat supply
The wheat futures have rebounded to touch the highest levels since the month of August. Extreme weather is expected to negatively impact the global supply of wheat.
Oil steadies, heads for weekly drop on U.S. economy worries
Brent crude futures for July rose 16 cents to $83.83 a barrel by 0008 GMT. U.S. West Texas Intermediate crude for June was up 19 cents to $79.14 per barrel.
Govt allows onion export to Bangladesh, UAE, Sri Lanka & 3 more countries amidst domestic supply worries
The Indian government has authorized the export of 99,150 metric tons of onions to Bangladesh, UAE, Bhutan, Bahrain, Mauritius, and Sri Lanka. This decision stems from lower estimated Kharif and Rabi crops in 2023-24 compared to the previous year, along with heightened international demand. The National Cooperative Exports Limited (NCEL) will oversee onion exports, sourcing them from domestic producers through competitive e-platforms.
Sensex falls 300 points as global markets slump on rate cut worries; Nifty below 22,400
All three major Wall Street stock indices dropped about 1% overnight, while 10-year treasury yields hit a four-month high after data signalling steady labour demand added to concerns of a potential delay in the Fed's rate cut.
Oil gains as market buffeted by supply worries
Brent futures for June delivery rose 20 cents, or 0.22%, to $89.12 per barrel, while U.S. West Texas Intermediate (WTI) crude futures for May climbed 17 cents, or about 0.2%, to $85.32 a barrel, at 0015 GMT.
Oil slips as economic concerns eclipse geopolitical tensions
The geopolitical tensions have been eclipsed by persistent concerns over China's stuttering economic recovery, which has in turn raised worries about global oil demand given the Asian giant is the world's biggest crude oil importer.
Oil slips as higher OPEC supply, Saudi price cuts offset Mideast worries
Both contracts climbed more than 2% in the first week of 2024 after investors returned from holidays to focus on geopolitical risks in the Middle East following attacks by Yemeni Houthis on ships in the Red Sea.
Oil prices rise on Middle East supply worries
Oil prices rose in early trade on Thursday, extending the previous day's sharp gains on concerns about Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war.
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