Source: FX Empire
Security & Justice
Israeli Airstrikes Hit Targets in Jnah and Bir Hassan
Israeli airstrikes have resumed on Tuesday, specifically targeting the southern suburbs of Beirut, including the neighborhoods of Jnah and Bir Hassan. The Israeli military confirmed that these strikes were part of a targeted operation aimed at strategic locations within the city.
Tuesday, October 1, 2024
Israeli Army: Lebanon Operation to Be as "Short as Possible", No Plans to Enter Beirut
The Israeli army on Tuesday made it clear that its current ground operation in Lebanon is focused on dismantling Hezbollah's military infrastructure near the Israeli border, saying that it won't extend into Beirut.
Tuesday, October 1, 2024
Opinion
Nasrallah's Killing Brings Hezbollah to a Fork in the Road
It is not the end of Hezbollah. But it is the end of Hezbollah as we have known it for the past three decades, and as it has known itself.
Sunday, September 29, 2024
Maintenir le Liban Hors du Maelstrom : Un Appel à la Préservation
Durant ses préparatifs pour l’attaque Japonaise contre Pearl Harbor, l’amiral Yamamoto promit à l’empereur Hirohito uniquement 6 mois de victoire, suite auxquels, le géant américain se réveillera et écrasera le Japon, selon les prédictions de ce grand militaire qui connaissait très bien la capacité quoique dormante des américains à l’époque.
Friday, September 27, 2024
Sports
Naomi Osaka to Start 2025 Season in New Zealand
Former world No. 1 Naomi Osaka will start her 2025 season at the ASB Tennis Classic in Auckland in January.
Friday, September 20, 2024
Messi Struck Referee Deal to Avoid Major Final Ban
It has been revealed that Lionel Messi once struck a mid-game shirt deal with a Copa America referee that allowed him to avoid a ban for the final.
Thursday, September 19, 2024
Saturday 3 February 2024 18:32:00
Oil Prices Forecast: Will Surging US Dollar Continue to Weigh on Crude?
Look for crude oil’s bearish trend to continue based on Fed rate cut speculations, Middle East peace, OPEC+ output, and China’s slowdown.
U.S. Economic Indicators and Oil Prices
Oil prices experienced a significant decline last week, with Light Crude Oil Futures closing at $72.28, marking a 7.35% decrease. This downward trend was influenced by U.S. economic data that suggested a lower likelihood of imminent interest rate cuts by the Federal Reserve.
The robust job creation figures in the U.S. have led to a strengthened dollar, which in turn impacts global crude demand. The implication is that high interest rates, which can suppress economic growth and, consequently, oil demand, seem likely to persist in major economies, including the U.S. and the euro zone.
Middle East Tensions and OPEC+ Decisions
The oil market also reacted to geopolitical developments. Reports of a potential ceasefire between Israel and Hamas temporarily alleviated some geopolitical risk in critical shipping lanes, contributing to the decrease in oil prices.
Meanwhile, OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies like Russia, maintained its current output policy. The group’s decision regarding the extension of its first-quarter voluntary production cuts will be a critical factor to monitor in the coming weeks.
Supply Disruptions and Investment Trends
Supply-side factors also played a role in last week’s oil market movements. The outage at BP’s Whiting refinery in Indiana, due to a power loss, disrupted operations and led to uncertainties about oil supply distribution.
In contrast, the U.S. oil rig count remained stable, indicating a steady future supply outlook. Additionally, there was a notable increase in oil futures and options positions by money managers, highlighting investor sentiment in the oil market.
China’s Economic Outlook
Concerns about China’s economic recovery continued to exert pressure on the oil market. The International Monetary Fund’s forecast of a slowdown in China’s economic growth to 4.6% in 2024, with further deceleration in the medium term, raises questions about future oil demand in one of the world’s largest economies. This aspect remains a significant factor in shaping global oil market trends.
Weekly Forecast
In the upcoming week, the oil market is poised for a bearish trend, influenced by several key factors.
Strong U.S. economic data reduces the likelihood of near-term interest rate cuts, potentially dampening global oil demand amidst a stronger dollar.
Geopolitical stability in the Middle East, particularly regarding Israel and Hamas, could lower risk premiums in oil prices.
OPEC+’s decision to maintain current output levels and China’s economic slowdown, as forecasted by the IMF, are expected to further suppress demand.
Additionally, the stabilized supply situation, exemplified by the quick recovery at BP’s Whiting refinery and a steady U.S. oil rig count, suggests adequate supply, contributing to the downward pressure on oil prices.
