News Oil 

Oil prices erase gains as IEA data show global supply at 1-year high

“Oil prices erased earlier gains and dipped lower on Thursday after the International Energy Agency said global oil supply has jumped to a one-year high as U.S. shale producers roar back to life” writes Markets Reporter for marketwatch.com. The benchmarks started to give up gains after the IEA in its closely watched monthly oil report said global oil supplies rose by 170,000 barrels a day in November, undermining the OPEC-led cuts to rebalance the market.Futures had started the day in an upbeat trade after data on Wednesday showed U.S. inventories…

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Markets News Oil 

U.S. shale ramps up, helps drive oil supply to highest in a year, says IEA

“In its closely watched monthly oil market report, the IEA said the amount of crude oil on the global market rose by 170,000 barrels a day in November to 97.8 million barrels a day” writes Christopher Alessi for marketwatch.com. The group first agreed a year ago to cut almost 2% of global oil production in an effort to rein in a global supply glut that has weighed on prices CLF8, -0.12%  since 2014.Shale producers are roaring back to life, pushing the global oil supply to its highest level in a…

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News 

Pollution-monitoring app sees 196 Apple suppliers face action for violating environmental rules

“An app which scrapes pollution data from government websites in China has resulted in 196 Apple suppliers facing action from the iPhone maker over breaches of its environmental rules” reports 9to5mac.com. The data is then aggregated on an app called Blue Map.The environmental activist behind the Blue Map app says that giving access to the data to companies like Apple and Wal-Mart has proved more effective than trying to get the government to take action … Bloomberg reports that Ma Jun’s app is backed by Alibaba. Source: 9to5mac.com Share This:

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News Oil 

OPEC output falls to lowest level in 6 months as U.S. pumps more oil

“OPEC production fell to its lowest in six months but rival U.S. production was surging faster than expected, meaning oil markets may not rebalance before the end of 2018, the oil cartel said Wednesday in its closely watched monthly oil report” writes Benoit Faucon for marketwatch.com. Russia—OPEC’s main partner in the cuts—is increasing its oil by about 50,000 barrels a day on average this year, OPEC said.Non-OPEC oil supply growth for 2017 now stands at about 810,000 barrels a day, representing an upward revision of around 150,000 barrels a day…

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News 

Supply Chains: Global, Digital And Simplified

“As Hiddes noted, supply chain management also includes tax issues, which can be knotty ones for companies dealing with new countries” reports pymnts.com. Enlisting other services through supply chain and invoice management also helps firms deal with late payments as they cross borders.There are also options to put in place strict credit limits that will prohibit any more shipments to corporate customers on a supply chain until invoices are paid.In reference to vendor and supply chain payments done across the platform, 99 percent of business is always done on terms,…

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Crypto News 

7 cryptocurrencies to watch in 2018 if you’re on the hunt for the next bitcoin

“The skinny: Bitcoin Cash is among the newest of the cryptocurrencies, developed in August of 2017 as a hard fork of bitcoin” writes Shawn Langlois for marketwatch.com. The philosophical divide between bitcoin and Bitcoin Cash was aptly described by Forbes as “Cypherpunk Vs.Bitcoin Cash was created by a team of people who forked the bitcoin blockchain ledger.In mid-November, Bitcoin Cash briefly topped Ethereum’s market cap to become the second-most valuable crypto, but since then has fallen firmly back into third place. Source: marketwatch.com Share This:

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Glencore targets key role in electric vehicle revolution

“Mining giant Glencore is looking to become a key player in the electric vehicle revolution by doubling its production of cobalt, a metal used in car batteries” writes Jon Yeomans for telegraph.co.uk. The metal is an essential component in car batteries but is only produced by a handful of companies and the majority of supply comes from the Democratic Republic of Congo, where Glencore is one of the few foreign investors. Cobalt prices on the London Metal Exchange have risen 127pc this year alone as car makers scramble to secure…

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Goldman Sachs predicts bumper returns for commodities next year

“Therefore, a positive roll yield in oil will bring returns of around 15 percent next year, Goldman analysts said” writes Krisztian Bocsi for cnbc.com. Goldman Sachs is expecting the commodities sector to generate returns of almost 10 percent next year, more than other assets over the long run.Robust demand growth for raw materials worldwide should underpin the case for investors to own them, Goldman said in a research note published Monday.Unlike equities, which discount future growth, commodities rise as the current levels of demand offset the amount of available supply,…

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Crypto Markets News 

Three reasons why Bitcoin won’t be a substitute for gold

“Market characteristics of gold and Bitcoin are vastly different The demand for Bitcoin attracts more speculative inflows – as opposed to gold” reports forexlive.com. The reasons they lay out on why Bitcoin won’t be substituting gold are: Gold investors using ETFs, futures, and commodity indices are automatically covered by anti-money laundering regulations. And the market dynamics are different considering Bitcoin has a mathematically certain total supply but gold has a finite (but uncertain) supply.There is no “mass exodus” in gold, as total known holdings in bullion-backed ETFs are near highest…

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