Open: London Session | Forex, Metals, Oil, Agriculture September 07, 2020



Coming Up European stock futures are pointing firmly higher after a mixed session in Asia, with the dollar edging higher and the crude oil continuing with its recent losses. Viktoria Dendrinou What s Happening Euro Question | ECB policy makers discussing monetary policy this week will do so in the shadow of their U.S. counterparts.


The Nifty slipped 11,317, down 16 points or 0.15 per cent.The top gainers on the 30-share benchmark were Axis Bank, Maruti, Tata Steel and TCS. A big year for silver.


Oil Supply and Demand – Oil and Gas Journal The above graph highlights oil supply and demand through 2020. In the short-term, a several million barrel per day shortage, could lead to a massive increase in oil price before the end of the year. Crude Oil Prices – Bloomberg Fundamentally the oil markets run off of supply and demand. Storing oil costs roughly $0.4 / barrel a month at Cushings, one of the major oil terminals and where WTI pricing is determined. That could lead to a large spike in demand well before the December end of the OPEC+ supply cuts at the lower 7.7 million barrels / day level.
The potential for oil prices comes from continued OPEC+ production cuts along with a potential resurgence in demand. 1Q 2020 resulted in a 6-7 million barrel / day stock fill with the net stock fill across the two quarters at roughly 2 billion barrels. It’s also worth noting that all of the remaining storage in oil after 2020, the 1.2 billion barrels leftover above, won’t flow back into the markets instantly.
The year 2020 has arguably been the most interesting year for crude oil prices ever. OPEC+ sees demand re-surging to pre-COVID-19 levels in 2021 with non-OPEC supply still 2.5 million barrels / day lower.

United States

Once the ruling class gives word that the narrative is “Trump lost,” all the president’s social media accounts will be suspended. Donald Trump, seeking to hide the fact that his U.S. response has lost control of the outbreak versus other countries, has announced a similar timeline. They were bolstered by many former generals—including President Trump’s own first Secretary of Defense—who stated openly what the brass would only hint at. He acquired wireless carrier Sprint Corp. in the US, but struggled to turn it around and then sold the business this year.
That is how compliments other services that focus on the bottom-ups security analysis of REITs, CEFs, ETFs, dividend-paying stocks and other securities. Trump “couldn’t be more pleased” with the U.S. recovery, but wants more stimulus, Steven Mnuchin told Fox News, noting that some analysts see third-quarter growth of 30% to 35%. In the US, bars and nightclubs have been closed and blamed for causing the outbreak across the Sun Belt that peaked over the summer.
If they don’t believe Trump lost, I don’t think they can be counted on to oust him. Trump poses an unusual problem for his opposition in that he gives them so much to react to, Ramesh Ponnuru writes for Bloomberg Opinion. After Ms Lee returned from the Beidaihe festival, she talked to friends in the US whose lives have still not returned to normal.


But in Beijing, partiers have reverted to the pre-pandemic tableau: The procedure is simple.


Brexit talks face a reckoning, European infection rates are ticking higher and call options are dominating stocks. A likely reshuffle of the top EU team means Ireland may well lose the influential role as the bloc grapples with its post-Brexit ties. Green Vote | The European Climate Law, the legal foundation of the Green Deal, is up for key votes in the EU Parliament. Johnson to tell EU he’s prepared to walk from Brexit talks. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K. s departure from the EU.
All this as the rumblings in Westminster suggest growing discontent among Conservatives with Prime Minister Boris Johnson’s grip on the leadership.