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Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility......
Shareholders in Biomerica, Inc. (NASDAQ:BMRA) may be thrilled to learn that the analysts have just delivered a major......
(Bloomberg) -- OPEC+ gathers on Saturday to ratify a deal for at least an extra month of record production cuts that U.S. President Donald Trump said saved the American oil industry.After a week of cajoling by Saudi Arabia and Russia, the cartel’s members were ready to prolong almost 10 million barrels a day of output curbs to the end of July, instead of easing them as previously planned.The imminent extension, coupled with a surprisingly good U.S. jobs report, sent crude almost 6% higher to $42.30 a barrel on Friday in London, more than double the price in April.That’s eased pressure on the budgets of oil-rich nations and revived the fortunes of energy companies from Exxon Mobil Corp. to shale drillers such as Parsley Energy Inc.Trump himself hailed the recovery on Friday and thanked the cartel’s leaders for making it possible.“Just a month ago. We had a disaster with respect to energy....
OPEC and its allies led by Russia meet on Saturday over plans to extend record oil production cuts and to push countries such as Iraq and Nigeria to comply better with existing curbs. Nigeria's oil minister said he expected a deal on an extension, which has the backing of Saudi Arabia and Russia, to be concluded in the video conference talks despite "reservations of one or two member countries," which he did not name. The alliance known as OPEC+ previously agreed to cut supply by a record 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis....
The USD/JPY has more upside potential, but robust demand for risky assets has to continue in order for the Forex pair to reap those potential gains....
A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday. Adamant Maritime Ltd, owner of very large crude-oil carrier (VLCC) Seahero was sanctioned by the U.S. Department of Treasury on Tuesday for carrying a Venezuelan cargo in February. The tanker is on short-term charter and "performing a voyage that is not related to Venezuela," Chevron spokesman Ray Fohr said....
