Mid-Week Review – October 9, 2019
Oil lower as tensions grow ahead of U.S.-China trade talks
Oil futures headed lower Tuesday as traders kept tabs on developments ahead of U.S.-China trade talks due later this week, which could shape expectations around demand for crude. Oil is being dragged down with stocks and other assets sensitive to global growth expectations, which continue to fall under pressure. Click here to read more from MarketWatch.
The Oil And Gas Situation: Is The Industry Dying? Not Hardly.
With its amazing shrinking rig count, range-bound crude prices and ongoing strained access to capital, some observers keep writing the industry off as dead or dying. But when faced with that question, the industry keeps coming back with the simple answer of, “Not hardly.” Click here to read more from Forbes.
Iran Admits U.S. Sanctions Dealt ‘’Deadly Blow’’ To Its Oil Industry
Iran’s oil industry has been falling behind because of the U.S. sanctions, but Tehran will resist, Iranian media quoted Oil Minister Bijan Zanganeh as saying on Tuesday. “The conditions in Iran are in a way that once every few years the oil industry receives a deadly blow and the economic sanctions can be considered one of those,” Zanganeh said, as carried by the semi-official Mehr news agency. Click here to read more from OilPrice.com.
How Trump’s Withdrawal from Syria Could Affect Oil
Trump’s decision to withdraw forces from Syria will ease the tension between the US and Iran. Moreover, Yemen’s Houthis have started peace negotiations with Saudi Arabia. All these developments could ease the geopolitical risk in the Middle East. Chances have increased of possible US-Iran talks to end sanctions. Click here to read more from Market Realist.
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