Macro Roundup (Jul 29)
CST
Source:SMM
The dollar eased on Wednesday after the US Federal Reserve said the economic recovery is on track despite a rise in Covid-19 infections in a policy statement that was upbeat but did not set a timeline for tapering Fed asset purchase.
SHANGHAI, Jul 29 (SMM) This is a roundup of global macroeconomic news last night and what is expected today.
The dollar eased on Wednesday after the US Federal Reserve said the economic recovery is on track despite a rise in Covid-19 infections in a policy statement that was upbeat but did not set a timeline for tapering Fed asset purchase.
Falling US crude stocks support oil prices
July 29, 2021 by archyde
Oil prices rose during trading yesterday (Wednesday), after data for the sector showed that inventories of US crude and products fell more than expected last week, which reinforced speculation that demand will exceed supply growth even in light of the growing number of “Covid 19” infections.
At 15:17 GMT, Brent crude futures were up 0.08 percent to $ 74.52 a barrel, after losing two cents, on Tuesday, in their first decline in 6 days.
US West Texas Intermediate crude contracts rose 0.1 percent, to $71.75 a barrel, after falling 0.4 percent on Tuesday.
“Oil prices are riding a wave of a weaker US dollar and lower crude inventories, according to EIA data,” said Margaret Yang, an analyst at Daily FX in Singapore, according to Reuters. From the world”. And data from the US Energy Information Administration showed, yesterday (Wednesday), the decline in stocks of crude oil, gasoline and distillates in the Un
HOUSTON, July 28, 2021 /PRNewswire/  Marathon Oil Corporation (NYSE: MRO) announced today that the Company s board of directors has declared a dividend of 5 cents per share on Marathon Oil Corporation common stock. This represents an increase from the Company s last quarterly base dividend payment of 4 cents per share. The dividend is payable on September 10, 2021, to stockholders of record on August 18, 2021. We are pleased to announce an increase to our quarterly base dividend for the second time this year, said Chairman, President and CEO Lee Tillman. We remain fully committed to a transparent capital allocation model that prioritizes free cash flow generation, a strong balance sheet, a low enterprise free cash flow breakeven, and returning significant capital back to our investors. Paying a competitive and sustainable base dividend is a key component of our capital allocation framework, and this 25% dividend increase underscores our commitment to returning an increasin
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi BoudinaNigeria and other oil-producing nations might find it difficult to raise over $12.6 trillion needed for oil and gas investment before 2045, the Organisation of Petroleum Exporting Countries (OPEC) and experts said yesterday in Abuja.
The most populous black nation has been struggling to finance oil and gas projects, as over $160 billion upstream projects remain in limbo, while major financiers are already declining to fund some programmes with Final Investment Decisions. x
Continued decline in US reserves drives oil prices to soar archyde.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archyde.com Daily Mail and Mail on Sunday newspapers.