Stock futures surged as investors awaited a slew of critical employment data on the state of the U.S. labor market set for release later Thursday morning....
Saudi Arabia could enter into another oil price war as Nigeria and Angola refuse to conform to the production cuts agreed by the Organization of Petroleum Exporting Countries and its allies, the Wall Street Journal reported Wednesday.What Happened The country's oil minister Prince Abdulaziz said at a June 18 OPEC virtual meeting that the kingdom will sell its oil at a discount to undercut Nigeria and Angola after they denied to make specific production cuts, according to the Journal."We know who your customers are," Abdulaziz is reported to have told the representatives of the two countries which count China and India as their biggest clients.Why It Matters Saudi Arabia last engaged with Russia in a price war in March as the two OPEC allies failed to find common footing on supply cuts, crashing oil prices to historic lows.The OPEC+ countries, as OPEC and its allies are referred to, ultimately agreed to...
A British judge on Thursday refused to give Venezuela's Nicolás Maduro control of nearly $2 billion in gold sitting in a Bank of England vault because Britain does not recognize the socialist leader as president of the Latin American nation. Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. The ruling clarifies the question of who is Venezuela’s legitimate leader — at least in the eyes of one world power....
