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  • Norway’s Gas Riches Spur a Wave of Bullish Currency Calls

    From bnnbloomberg.ca

    The immense wealth coming from Norway’s gas and oil fields is underpinning a new refrain among market experts: it’s time for a big rebound in the krone. Danske Bank A/S and Bank of America Corp. say the currency is a bargain given its decade of losses and the fact that Norway is now reaping trillions of kroner from energy exports. In the past decade, the krone lost about a third of its value against the euro, the biggest decline in the Group-of-10. According to Morgan Stanley, the Norwegian currency is likely to surge 15% against the dollar this year, delivering the best return among the G-10 peers. Deutsche Bank ... (full story)

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    European Outlook: Less Downside Now, But Caution Still Warranted

    From pimco.com|Jan 24, 2023

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    Norway Proposes 92 New Oil And Gas Exploration Blocks

    From oilprice.com|Jan 24, 2023

    Norway, Western Europe’s biggest oil and gas producer, is offering up to 92 new blocks for hydrocarbon exploration in the new round of licensing in mature areas, the petroleum and ...

    Investors Surge Back Into Oil At Fastest Pace In 5 Years

    From zerohedge.com|Jan 24, 2023

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    Biden May Cancel SPR Sale: Report

    From oilprice.com|Jan 24, 2023

    The White House may cancel a scheduled sale of crude oil from the strategic petroleum reserve this year, Energy Intelligence has reported, citing unnamed sources. According to the ...

    API: Crude: +3.378M, Cushing: +3.928M, Gasoline: +0.620M, Distillates: -1.929M

    From @EnergyAndOil|Jan 24, 2023

    tweet at 4:32pm: #API Crude: +3.378M Cushing: +3.928M Gasoline: +0.620M Distillates: -1.929M #OOTTWTI Holds Losses After API Reports Biggest Cushing Build Since April 2020 Oil prices traded down today after punching up to seven-week highs with WTI back to a $79 handle after weak 'soft' survey data poured more cold water on the idea of a 'soft landing'., along with disappointing results from a handful of economic-activity bellwethers, such as Union Pacific and 3M. These results have tempered optimism for the economy in the near-term. Oil prices declined on "uncertainty about how much of a demand boost we'll see, and concerns over a weakening U.S. economy constrains the upside," said Michael Hewson, chief market analyst at CMC Markets U.K. "With the latest PMI numbers in US, Europe and the U.K. showing signs of weakness despite lower energy prices, some doubt is creeping in around any sort of rebound in economic activity," he said in market commentary. After two crazy weeks of inventory builds (in crude and at Cushing), all eyes are on this week's data as the impact of storms and deep-freezes begins to wear off.

    US to Develop Nuclear Engine to Power Crewed Missions to Mars

    From bnnbloomberg.ca|Jan 24, 2023

    NASA and the Defense Advanced Research Projects Agency said on Tuesday they will jointly develop a nuclear thermal rocket engine that will help the US stage crewed missions to ...

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  • Posted: Jan 24, 2023 3:11pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 0  /  Views: 428
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