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Crude Oil Prices May Rise as Gold Falls, Both Approach Key Levels


By Daniel Dubrovsky


  • Crude prices rose as the US pushed allies to cut Iran oil imports to zero
  • Gold may fall as trade war worries boost the US Dollar on haven bids
  • The commodity and yellow metal are near key levels on the daily chart



OPEC Supply Buffer Shrinks as It Heeds Call to Pump More Oil


By Grant Smith


The fleeting reassurance that came from Saudi Arabia’s pledge last week to lead a substantial production increase was swept away on Tuesday as tougher U.S. sanctions on Iran shifted focus back to the world’s dwindling buffer of emergency crude supply.


“The reduction in spare capacity by OPEC” leaves “pricing risk more exposed to the upside,” said Brian Singer, managing director at Goldman Sachs Group Inc.


Venezuela is the most enduring supply risk. Its production has already plunged by about 40 percent since 2015 due to a grueling recession, civil unrest and an exodus of workers from the country’s state-run oil firm, Petroleos de Venezuela SA.


Washington’s push for U.S. allies to completely stop buying Iranian crude by November could take another 1.5 million barrels a day from the market, according to consultant Energy Aspects Ltd.


Bank of America Corp. forecast that Brent, the global benchmark, will advance to $90 a barrel in the second quarter of next year, while UBS Group AG predicted $80 to $85 in the second half of the year. Both banks cited limited spare production capacity as the reason for the increase in price forecasts.



No end to trade war fears for European stocks and autos


By Reuters Staff


Dread over higher global barriers to trade kept a lid on European stock markets on Wednesday, with little other company and economic news to provide relief from rising protectionism which has hit equity markets hard.


Europe’s STOXX 600 fell 0.3 percent by 0725 GMT, with autos stocks. SXAP again the worst performers, falling 0.9 percent and driving Germany’s DAX down 0.5 percent as BMW (BMWG.DE), Volkswagen (VOWG_p.DE) and Daimler (DAIGn.DE) declined.


The pan-European index hit its lowest since April 12 while the autos sector, a prominent target of higher U.S. tariffs, neared its lowest in ten months.



EURUSD Price Forecast – Euro Sellers Taking Back Control


By Nick Cawley


EURUSD recent rally is being eroded by the ramping up of political tensions across the EU. Ongoing trade wars between the US and EU are unlikely to end anytime soon, and indeed are expected to be ramped up as national interests prevail – with the German automobile industry in the crosshairs – while German Chancellor Angela Merkel’s government is under threat as the migrant issue continues to divide opinion between the coalition partners. The three coalition parties have yet to find common ground on the issue and the fear is that if no solution is found shortly, the already shaky coalition may fail and bring down Chancellor Merkel with it.


The last ECB meeting also confirmed that rates in the single-block will remain low-for-longer with no rate hikes expected until at least Q3 2019.



Barclays sees 20 percent gain for Spotify, says it’s reinventing how music is sold 


By Sara Salinas | @saracsalinas


  • Spotify is likely to ramp up advertising as it seeks new ways to make money on music, Barclays said.
  • The firm issued an overweight rating on the stock and a price target of $210.
  • Shares of Spotify rose roughly 3 percent in early trading Tuesday, to a session high of $176.30.




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