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Is OPEC+ pulling the support from under the WTI crude oil price?
The price of West Texas Intermediate (WTI) started the session on Monday with a bullish momentum, opening with a gap above $74.70 per barrel. However, the session was marked by high volatility, leading to a drop of more than 4%, bringing the price down to the $72.00 per barrel zone. This decline occurred in the context of uncertainty generated by recent OPEC+ decisions regarding global crude oil supply. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have confirmed their plan to gradually increase oil production starting April 1, 2025. This strategy had been previously agreed upon to ... (full story)
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- From cnn.com|Feb 4, 2025
Tariffs have dominated headlines since President Donald Trump took office just over two weeks ago, as he threatened steep, sweeping tariffs on goods the United States imports from ...
- From breakingthenews.net|Feb 4, 2025
Factory orders in the United States fell by 0.9% to reach $578.5 billion in December compared to the previous month, the US Census Bureau revealed in its report on Tuesday. Unfilled orders decreased by 0.5% to $1.4 billion in the reported month. Meanwhile, shipments climbed by 0.6% month-on-month to $589.7 billion, and the inventories rose by 0.4% to $863.2 billion. The inventories-to-shipments ratio came in at 1.46 in December, slightly above the 1.47 recorded in November. post: US Durable Goods Orders (M/M) Dec F: -2.2% (est -2.2%; prev -2.2%) - Durables Ex Transportation (M/M): 0.3% (est 0.3%; prev 0.3%) - Cap Goods Orders Nondef Ex Air (M/M): 0.4% (est 0.5%; prev 0.5%) - Cap Goods Ship Nondef EX Air (M/M): 0.5% (est 0.6%; prev 0.6%)
- From bls.gov|Feb 4, 2025|18 comments
The number of job openings decreased to 7.6 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and total separations were little changed at 5.5 million and 5.3 million, respectively. Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job Openings The number of job openings decreased to 7.6 million (-556,000) on the last business day of December and was down by 1.3 million over the year. The job openings rate, at 4.5 percent, decreased over the month. The number of job openings decreased in professional and business services (-225,000), health care and social assistance (-180,000), and finance and insurance (-136,000). Job openings increased in arts, entertainment, and recreation (+65,000). (See table 1.) Hires In December, the number of hires changed little at 5.5 million but was down by 325,000 over the year. The hires rate remained unchanged at 3.4 percent over the month. Hires increased in finance and insurance (+48,000). (See table 2.) Separations Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm. The number of total separations in December was little changed at 5.3 million. The total separations rate remained unchanged at 3.3 percent over the month. (See table 3.) In December, the number of quits was little changed at 3.2 million but declined by 242,000 over the year. Over the month, the quits rate was unchanged at 2.0 percent. Quits decreased in transportation, warehousing, and utilities (-42,000 post: US JOLTS Job Openings Dec: 7.600M (est 8.000M; prev R 8.156M) - Job Openings Rate: 4.5% (est 4.8%; prev R 4.9%) - Quits Level: 3.197M (est 3.112M; prev R 3.130M) - Quits Rate: 2.0% (prev R 2.0%) - Layoffs Level: 1.771M (est 1.743M; prev R 1.800M) - Layoffs Rate: 1.1% (prev 1.1%)US job openings at 7.6 million in December Job openings in the United States stood at 7.6 million in December, declining from 8.1 million registered a month before, the US Bureau of Labor Statistics said in a report on Tuesday. The job opening rate dropped to 4.5%. The Job Openings and Labor Turnover Survey (JOLTS) showed that the number of hires was little changed at 5.5 million, while the hires rate remained unchanged at 3.4%. The number of total separations was little changed at 5.3 million and the total separations rate was unchanged at 3.3% in December compared to November. The quits rate remained unchanged at 2%, with the number of quits standing at 3.2 million.
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- From oilprice.com|Feb 4, 2025|1 comment
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- From rigzone.com|Feb 4, 2025
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- Posted: Feb 4, 2025 10:56am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 71
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