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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil prices begin today's trading stable, awaiting inflation data and the OPEC+ meeting

    Rocky
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    Oil prices begin today's trading stable, awaiting inflation data and the OPEC+ meeting Empty Oil prices begin today's trading stable, awaiting inflation data and the OPEC+ meeting

    Post by Rocky Tue May 28, 2024 5:58 am

    Oil prices begin today's trading stable, awaiting inflation data and the OPEC+ meeting
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    Baghdad today - follow-up
    Oil prices stabilized today, Tuesday (May 28, 2024), as investors await inflation data to assess future US monetary policy and production policy decisions issued by the OPEC+ meeting scheduled for June 2 .
    Brent crude futures for July fell three cents to $83.07 a barrel by 0038 GMT. The most active August contracts fell four cents to $82.85 .
    US West Texas Intermediate crude futures for June rose 96 cents, or 1.2 percent, to $78.68 compared to Friday’s close, after it was traded during an American holiday without settlement .
    Oil prices rose more than 1 percent yesterday, Monday, in quiet trading due to a public holiday in Britain and the United States, after a pessimistic week overshadowed by US interest rate expectations in the face of stable inflation .
    “Investors are focusing on US inflation data to determine the timing of interest rate cuts,” said Satoru Yoshida, a commodity analyst at Rakuten Securities, adding that the market is also closely monitoring the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the alliance known as OPEC +. .
    He added, "We expect oil prices to rise in the coming days due to the ongoing voluntary cuts expected by oil producers and the increasing possibilities of easing US monetary policy," adding that the beginning of the season of increasing vehicle driving rates in the United States will also provide support .
    Markets are mainly focused on the US core personal consumption expenditures price index report due on Friday, the Federal Reserve's preferred measure of inflation .
    Markets are also awaiting German inflation data scheduled to be released tomorrow, Wednesday, and inflation data in the broader euro zone on Friday, searching for indications of the expected cut in European interest rates next week .
    Attention is also turning to the next online meeting of the OPEC+ alliance on June 2 .
    Producers will discuss whether to extend voluntary production cuts of 2.2 million barrels per day in the second half of the year. Three sources from OPEC+ countries said that an extension was possible.
    Source: Agencies
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