The prospect of imminent drug rollouts is reshaping the oil futures curve. Global benchmark Brent’s prompt timespread flipped into backwardation -- a bullish structure where prompt contracts are more expensive than later-dated ones -- on Monday for the first time since June. A rebound in Chinese local flights is also aiding demand for jet fuel, the hardest-hit oil product. … [Read more...] about Oil rises past August high on vaccine progress, Joe Biden transition
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Such is the strength of the recovery in Asia, it’s now pulling supplies from as far afield as the North Sea. A rebound in Chinese local flights is also aiding demand for jet fuel, the hardest-hit oil product. That broad recovery has helped drive the market’s return to backwardation, which is significant as it often attracts passive flows into the market, leading to further price rallies. … [Read more...] about Oil highest since March on vaccine progress, Biden transition
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In an age of growing interdependence, the most viable way to secure one's vital interests is to guarantee everyone's shared interests. Yet decision-makers in Washington, by pursuing the short-sighted doctrine of putting "America First," are simply backpedaling, and should reverse their wrong path as fast as they can. Enditem … [Read more...] about Commentary: U.S. Open Skies Treaty exit puts global peace in peril
India’s development portfolio of more than $3 billion is aimed at building the capabilities of the Afghan people and institutions with the aim of improving governance, he said. “There is no part of Afghanistan today untouched by our 400-plus projects spread across all the 34 provinces of Afghanistan,” he added. … [Read more...] about India to build new dam, launch projects worth $80 million in Afghanistan