Futures Markets News Oil 

Oil prices trade mixed, contracts remain on track for a third weekly decline in a row

“Oil futures saw mixed trading Friday, finding some support as Saudi Arabia expects to reduce exports in August, easing some concerns of coming oversupply in the market” writes Saefong William Watts for marketwatch.com. The global benchmark, September Brent crude LCOU8, +0.22%  traded at $72.80 a barrel, up 22 cents, or 0.3%, on ICE Futures Europe.Traders also look to the release of weekly U.S. oil rig data from oil-field services firm Baker Hughes BHGE, -0.16%  due at 1 p.m.Prices, however, remained on track for a third-straight weekly decline on renewed trade-war…

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News 

North Korean economy suffers steepest decline in two decades

“But sanctions imposed by the U.N. Security Council and the U.S. government appear to have hit the North Korean economy hard last year” writes Adam Taylor for washingtonpost.com. In 2016, the North Korean economy was estimated to have grown by 3.9 percent — the greatest annual increase in more than a decade.SEOUL — North Korea’s economy had its biggest decline in two decades amid tightening international sanctions last year, according to a new Bank of Korea estimate released Friday. Source: washingtonpost.com Share This:

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News Stocks 

Travelers’ stock set to fall after surprise earnings decline offset revenue beat

“Total revenue increased 4% to $7.48 billion, above the FactSet consensus of $6.93 billion, as net written premiums grew 7% to $7.13 billion to beat expectations of $6.92 billion” writes Reporter Editor for marketwatch.com. Core earnings per share fell to $1.81 from $1.92, while the FactSet consensus was for a rise to $2.41.TRV, +0.94% were indicated down more than 2% in premarket trade Thursday, after the insurer reported second-quarter earnings that missed expectations, as catastrophe losses increased, but revenue that beat forecasts as net written premiums rose to a record.The…

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News Oil 

IEA warns of ‘worrying trend’ as global investment in renewables falls

“Investment in coal power dropped sharply but was offset by an uptick in oil and gas spending, the World Energy Investment report found” writes Adam Vaughan for theguardian.com. While coal investment fell to its lowest level in 10 years, spending on gas-fired power stations rose 40%.Globally, energy investment fell 2% to $1.8tn in 2017, with electricity taking a bigger share than oil and gas for the second year in a row.The world’s energy watchdog has sounded the alarm over a “worrying” pause in the shift to clean energy after global…

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News Oil 

Oil edges lower, set for big weekly decline 

“This vulnerability currently underpins oil prices and seems likely to continue doing so,” the agency said” writes unknown author for cnbc.com. Oil prices edged lower on Friday and were set for a second weekly fall, as the market shrugged off a warning that spare capacity may be stretched as OPEC and Russia increase production.It has been a wild week for oil prices with both the main benchmarks suffering heavy losses on Wednesday as traders focused on the return of Libyan oil to the market amid concerns about a China-U.S. trade…

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News Oil 

U.S. oil sees steepest one-day percentage decline in more than a year

“The most severe one-day drop for heating oil on a percentage basis since July 13, 2016” writes Markets Commodities Reporter for marketwatch.com. There is also speculation that U.S. President Donald Trump “will hammer Russia on raising oil production” in an effort to push prices lower, and that has “traders running for cover,” he said.That also represented the international benchmark’s sharpest percentage fall in a single session since a Feb. 9 of 2016 and the steepest decline on a point basis since Nov. 28, 2013.The drop marked the worst percentage decline…

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Crypto News 

Falling Bitcoin Price Causes Decline in Coinbase…

“For the Coinbase mobile app, the dip in popularity is very real” writes Jp Buntinx for livebitcoinnews.com. What do you think about the Coinbase app dropping in the download ranks?. This Coinbase app “debacle” may become another blip on the radar six months from now.One of the world’s most popular Bitcoin trading platforms loses traction in the mobile app department.It may take a while until the Coinbase app regains its popularity. Source: livebitcoinnews.com Share This:

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FXCM’s June Customer Trading Metrics Show Overall Decline in Volumes

“For the month ending June 30, 2018 customer trading volume was $202 billion” reports financemagnates.com. The average customer trading volume per day was $9.6 billion during June.FXCM Group, an international provider of online FX and CFD trading, has published its monthly customer trading metrics report for June 2018 today.For the second quarter of 2018, customer trading volume was $598 billion, 14 percent lower than the first quarter of 2018, and two percent lower than the second quarter of 2017. Source: financemagnates.com Share This:

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Savings crisis: UK households are £8bn in the red

“UK households have burnt through their savings, bringing them to their lowest level since 2005, official figures have revealed” writes Bill Grimsey for telegraph.co.uk. Now, UK households are £8.4bn in the red. The ONS said: “Households have experienced a continuous decline in their real purchasing power since 2016.” As savings have dwindled, consumers have turned to borrowing to maintain…A rise in consumer spending was behind the “sharp decline” in savings, according to the Office for National Statistics.The saving ratio – the amount of money households have available to save as a…

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