Jerry Lin
The Latest
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Oil Prices Rebound as OPEC+ Mulls Delay on October Output Increase
Oil prices showed signs of recovery on Wednesday after a significant drop in recent weeks, as discussions within OPEC+ about potentially delaying a planned production increase spurred market optimism. Brent crude futures rose by 45 cents, or 0.6%, reaching $74.20 per barrel by mid-day GMT. 
Oil prices showed signs of recovery on Wednesday after a significant drop in recent weeks, as discussions within OPEC+ about potentially delaying a planned production increase spurred market optimism. Brent crude futures rose by 45 cents, or 0.6%, reaching $74.20 per barrel by mid-day GMT. -
Oil Prices Dip as China’s Economic Slowdown Outweighs Libyan Export Disruptions
Oil prices experienced a significant drop on Tuesday, driven primarily by mounting concerns over China's economic performance, which overshadowed the impact of recent disruptions in Libyan oil production. Brent crude futures slid by $1.66, or 2.1%, to $75.86 per barrel, while West Texas Intermediate (WTI) crude futures fell by $1.07, or 1.5%, to $72.48. The declines mark a reversal from earlier gains in 2024, with WTI effectively erasing nearly all its gains for the year. 
Oil prices experienced a significant drop on Tuesday, driven primarily by mounting concerns over China's economic performance, which overshadowed the impact of recent disruptions in Libyan oil production. Brent crude futures slid by $1.66, or 2.1%, to $75.86 per barrel, while West Texas Intermediate (WTI) crude futures fell by $1.07, or 1.5%, to $72.48. The declines mark a reversal from earlier gains in 2024, with WTI effectively erasing nearly all its gains for the year. -
Oil Prices Slide on Weak China Data and Expected OPEC+ Supply Increase
Oil prices extended their downward trajectory on Monday, pressured by disappointing economic indicators from China and anticipation of increased production by OPEC+. Brent crude futures fell by 20 cents, or 0.3%, to $76.73 per barrel, while U.S. West Texas Intermediate (WTI) crude dipped 19 cents, or 0.3%, to $73.36. This decline follows significant losses last Friday, with Brent and WTI slipping 1.4% and 3.1%, respectively. 
Oil prices extended their downward trajectory on Monday, pressured by disappointing economic indicators from China and anticipation of increased production by OPEC+. Brent crude futures fell by 20 cents, or 0.3%, to $76.73 per barrel, while U.S. West Texas Intermediate (WTI) crude dipped 19 cents, or 0.3%, to $73.36. This decline follows significant losses last Friday, with Brent and WTI slipping 1.4% and 3.1%, respectively. -
OPEC+ Poised to Increase Oil Output by 180,000 Barrels Per Day in October Despite Market Volatility
OPEC+ is preparing to implement a planned increase in oil production starting in October, according to multiple sources familiar with the group's strategy. The decision comes amid fluctuating oil prices and significant production losses from Libya, which have impacted the global oil market. OPEC+ is preparing to implement a planned increase in oil production starting in October, according to multiple sources familiar with the group's strategy. The decision comes amid fluctuating oil prices and significant production losses from Libya, which have impacted the global oil market. -
Bitcoin Dips Below $59,000 Amid Mixed Market Signals; Miners Face Profitability Pressures
Bitcoin (BTC) experienced a notable dip below $59,000 on Friday, marking a significant moment for the cryptocurrency as market sentiment remains unstable. Early European trading saw Bitcoin fall to a low of $58,688, though it recovered slightly to $59,450, reflecting a 0.7% decrease over the past 24 hours, according to data from CoinGecko. This slip is emblematic of a broader trend of fluctuating market confidence. 
Bitcoin (BTC) experienced a notable dip below $59,000 on Friday, marking a significant moment for the cryptocurrency as market sentiment remains unstable. Early European trading saw Bitcoin fall to a low of $58,688, though it recovered slightly to $59,450, reflecting a 0.7% decrease over the past 24 hours, according to data from CoinGecko. This slip is emblematic of a broader trend of fluctuating market confidence. -
July Inflation Data Supports Fed Rate Cut; Wall Street Set for Higher Open
Wall Street is poised for a higher open as investors digest the latest inflation data, which aligns with expectations and bolsters predictions for an imminent Federal Reserve interest rate cut. The Commerce Department's report, released Friday, showed a modest increase in the Personal Consumption Expenditures (PCE) price index, a key gauge closely monitored by the Fed. 
Wall Street is poised for a higher open as investors digest the latest inflation data, which aligns with expectations and bolsters predictions for an imminent Federal Reserve interest rate cut. The Commerce Department's report, released Friday, showed a modest increase in the Personal Consumption Expenditures (PCE) price index, a key gauge closely monitored by the Fed. -
Euro Zone Inflation Hits Three-Year Low at 2.2%, Strengthening Case for ECB Rate Cut
Euro zone inflation has dropped to a three-year low of 2.2% in August, according to flash estimates from Eurostat. This decline, from 2.6% in July, aligns with economists' predictions and intensifies discussions about potential monetary policy adjustments by the European Central Bank (ECB). 
Euro zone inflation has dropped to a three-year low of 2.2% in August, according to flash estimates from Eurostat. This decline, from 2.6% in July, aligns with economists' predictions and intensifies discussions about potential monetary policy adjustments by the European Central Bank (ECB). -
U.S. GDP Revised to 3% Growth, Boosting Dollar and Market Optimism
In a boost to market confidence and the strength of the U.S. dollar, the latest data from the Commerce Department revealed that the U.S. economy grew at a robust 3% annual rate in the second quarter of 2024. This upward revision from the initial 2.8% estimate signifies a significant acceleration from the first quarter's modest 1.4% growth and underscores the resilience of the American economy amidst prevailing uncertainties. 
In a boost to market confidence and the strength of the U.S. dollar, the latest data from the Commerce Department revealed that the U.S. economy grew at a robust 3% annual rate in the second quarter of 2024. This upward revision from the initial 2.8% estimate signifies a significant acceleration from the first quarter's modest 1.4% growth and underscores the resilience of the American economy amidst prevailing uncertainties. -
Bitcoin Stabilizes After Sharp Drop; Market Reacts to Fed Comments and Upcoming Nvidia Earnings
Bitcoin (BTC) showed signs of stability on Wednesday morning following a dramatic drop during the late-night European trading hours. The cryptocurrency experienced a sharp decline, plummeting over 6% to as low as $58,090 before recovering somewhat. At the time of writing, Bitcoin is trading at approximately $59,800, reflecting a 5.8% decrease over the past 24 hours. 
Bitcoin (BTC) showed signs of stability on Wednesday morning following a dramatic drop during the late-night European trading hours. The cryptocurrency experienced a sharp decline, plummeting over 6% to as low as $58,090 before recovering somewhat. At the time of writing, Bitcoin is trading at approximately $59,800, reflecting a 5.8% decrease over the past 24 hours. -
U.S. Consumer Confidence Reaches Six-Month High Amid Rising Labor Market Concerns
U.S. consumer confidence surged to its highest level in six months in August, reflecting growing optimism about the economic outlook. However, this positive shift is tempered by increasing anxieties over the labor market, as recent data reveals a concerning spike in the unemployment rate. 
U.S. consumer confidence surged to its highest level in six months in August, reflecting growing optimism about the economic outlook. However, this positive shift is tempered by increasing anxieties over the labor market, as recent data reveals a concerning spike in the unemployment rate.
