(Reuters) - Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility. The exodus of participants, especially hedge funds and speculators, has made daily price swings far greater than... Continue Reading →
(Reuters) - Goldman Sachs said the case for higher oil prices was still strong with current supply shortfalls well above its expectations in recent months, despite a recent retreat led by factors including global recession concerns. The market will remain in unsustainable deficits at current prices and balancing it will still require "demand destruction on... Continue Reading →
(Reuters) Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market. The two major crude futures contracts are up about 30% so far this year, while the All... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro kicked off his candidacy for re-election at a party event in Rio de Janeiro on Sunday with a speech focused on God, guns and family, as the right-wing leader attempts to claw back the commanding lead established by his main rival, former President Luiz Inacio Lula da Silva. The... Continue Reading →
(Reuters) - Former President Luiz Inacio Lula da Silva was officially nominated by his Workers Party (PT) on Thursday to run on Oct. 2 against far-right incumbent President Jair Bolsonaro in Brazil's most polarized election in decades. With a double-digit lead in opinion polls, a Lula victory would represent an astounding comeback by the former... Continue Reading →
(Reuters) - Ciro Gomes, a left-of-center former governor, kicked off Brazil's presidential election season on Wednesday, becoming the first candidate to officially announce his candidacy for the Oct. 2 vote. Gomes, 64, presented himself as an alternative to the polarized choice of far-right incumbent President Jair Bolsonaro or Workers Party leader and former two-term president... Continue Reading →
(Reuters) - Economic advisers to Brazil's leading presidential candidate are drafting plans for a more aggressive foreign exchange policy, including more market interventions and tighter regulation of derivatives to curb volatility, senior aides told Reuters. Economist Pedro Rossi, who leads the team drafting currency policy for leftist former president and 2022 front-runner Luiz Inacio Lula... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro said on Monday that a deal was close with Moscow to buy much cheaper diesel from Russia, in what would appear to be the latest tangible benefit stemming from his friendly relationship with President Vladimir Putin. Bolsonaro, a far-right former army captain, gave no further details. Neither Bolsonaro's office,... Continue Reading →
(Reuters) - Economists polled by the Brazilian central bank expect the economy to perform better this year but see inflation staying above the official target until 2023, marking three consecutive years of non-compliance. The data is from the latest weekly Focus survey, published by the central bank on Friday after a pause due to a... Continue Reading →
(Reuters) - Harbour Energy (HBR.L) said on Friday that largest shareholder, EIG Asset Management, has distributed some of its stake in North Sea's biggest oil and gas producer to existing investors, resulting in a dilution in its holding to 16% from 37%. The share distribution follows the merger of debt-laden Premier Oil Plc with private equity Chrysaor... Continue Reading →
