(Bloomberg) — Oil edged higher as positive European manufacturing data and rising equity markets gave some respite to recent demand worries.Futures in New York for November delivery rose to over $40 a barrel. The German economy continues to recover thanks to stronger-than-expected manufacturing figures, data showed, while equity markets in Europe are also stronger. Citgroup Inc. said it remains bullish on the outlook for oil, though the market is undergoing a fitful rebalancing.The American Petroleum Institute reported crude stockpiles increased by nearly 700,000 barrels last week, while gasoline inventories shrunk by 7.7 million barrels, according to people familiar, ahead of government data later.After a partial recovery this month, oil prices are now back in the same range as during the northern hemisphere’s summer. With the demand outlook deteriorating in recent weeks, attention is now turning to the OPEC+ alliance and whether it will try to curb output further to rebalance the market.“The API was positive I’d say with draws in gasoline and distillates and crude unchanged,” said Bjarne Schieldrop, chief commodities analyst at SEB AB. “A large draw down in the fourth quarter or not is the big question.”Libya, meanwhile, is signaling that it will return some supply back to the market, lifting force majeure restrictions at its Zueitina export terminal and evaluating the security situation at other ports, according to National Oil Corp.See also: Venezuela and Iran Buck U.S. Sanctions Again to Export CrudeOn the U.S. Gulf Coast, Tropical Depression Beta has flooded Houston, but is weakening as it heads toward Louisiana. The storm isn’t expected to cause many issues for onshore refineries, and interruptions to offshore rigs aren’t likely to be long-lasting either.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) — Apple Inc. will likely boost sales of its AirPods range by a third this year, but that won’t stop it from losing its dominant grip on the fast-growing wireless earbuds market.The AirPods have come to define the true wireless (TWS) earphones category, with Apple accounting for nearly half of all sales in 2019 […]
Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today. No force in financial markets is as powerful and predictable as “mean reversion,” the tendency of stock and bond prices that are extraordinarily high or low versus history to return to their long-term norms. […]
Entrepreneurs enjoy the freedom of making their own business decisions and becoming their own bosses. Accordingly the exercise is suited to training courses lasting two days or more when delegates can work evenings in their team on the activities. Many of today’s companies are now becoming multinational, with production units in numerous foreign countries, so […]