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CL Redux
- Thread starter schizo
- Start date
10-7-2013: This Monring OIL Panic Selloff and Reversal NEWS
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http://www.reuters.com/article/2013/10/07/us-markets-global-idUSBRE96S00E20131007
1/Crude oil futures on both sides of the Atlantic<b> pared losses after a sharp drop in earlier trade, following a report that a key pipeline delivering crude oil from Cushing, Oklahoma, had resumed shipping after an earlier outage.</b>
2/ Operations of the Seaway oil pipeline, through which crude oil <b>flows from Cushing to Gulf Coast </b>refineries,<b> resumed after a brief shutdown, industry intelligence firm Genscape reported early on Monday </b>. Cushing is the delivery point for the U.S. oil futures contract.
other Market News
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(Reuters) - The dollar and global equity markets fell on Monday as the impasse over the week-old U.S. government shutdown got entangled in negotiations to raise Washington's borrowing limit or risk default on U.S. sovereign debt.
1/ A lack of progress by U.S. lawmakers in budget and debt ceiling talks rattled investors, pulling stocks on Wall Street down and <b>sending European shares to a four-month low.</b>
2/ Republican House of Representatives Speaker <b> John Boehner vowed not to raise the U.S. debt ceiling without a "serious conversation" about what is driving the debt </b>, while Democrats said it was irresponsible and reckless to raise the possibility of a U.S. default.
3/ <b>The dollar fell, hovering near an eight-month low against a basket of major trading currencies</b>, and crude oil prices slipped as the government shutdown and looming fight over the debt ceiling clouded the economic outlook.
4/ "Last week investors were hopeful that the government shutdown would be short-lived," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
<b>"Now that it's entering its second week, investors are growing a bit more edgy and that's being played out in weaker world stocks and the dollar staying on the defensive."</b>
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http://www.reuters.com/article/2013/10/07/us-markets-global-idUSBRE96S00E20131007
1/Crude oil futures on both sides of the Atlantic<b> pared losses after a sharp drop in earlier trade, following a report that a key pipeline delivering crude oil from Cushing, Oklahoma, had resumed shipping after an earlier outage.</b>
2/ Operations of the Seaway oil pipeline, through which crude oil <b>flows from Cushing to Gulf Coast </b>refineries,<b> resumed after a brief shutdown, industry intelligence firm Genscape reported early on Monday </b>. Cushing is the delivery point for the U.S. oil futures contract.
other Market News
--------------------------
(Reuters) - The dollar and global equity markets fell on Monday as the impasse over the week-old U.S. government shutdown got entangled in negotiations to raise Washington's borrowing limit or risk default on U.S. sovereign debt.
1/ A lack of progress by U.S. lawmakers in budget and debt ceiling talks rattled investors, pulling stocks on Wall Street down and <b>sending European shares to a four-month low.</b>
2/ Republican House of Representatives Speaker <b> John Boehner vowed not to raise the U.S. debt ceiling without a "serious conversation" about what is driving the debt </b>, while Democrats said it was irresponsible and reckless to raise the possibility of a U.S. default.
3/ <b>The dollar fell, hovering near an eight-month low against a basket of major trading currencies</b>, and crude oil prices slipped as the government shutdown and looming fight over the debt ceiling clouded the economic outlook.
4/ "Last week investors were hopeful that the government shutdown would be short-lived," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
<b>"Now that it's entering its second week, investors are growing a bit more edgy and that's being played out in weaker world stocks and the dollar staying on the defensive."</b>
Shutdown Day 7: Things you need to know
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http://www.cnn.com/2013/10/07/politics/government-shutdown-need-to-know/index.html?hpt=hp_t1
1/ Meanwhile, House Speaker John Boehner said he won't talk debt deal without an agreement on spending cuts, a shift from earlier Republican demands seeking a delay in the implementation of Obamacare.
"It is time to deal with America's problems," he told ABC Sunday in demanding what he repeatedly called a "conversation" with the White House and Democrats. "How can you raise the debt limit and do nothing about the underlying problem?"
2/ The magic number is 10: And by magic, we mean big, hairy and scary. That's the number of days until, Treasury Secretary Jack Lew says, the government runs out of money to pay its bills.
On Monday, the prospect of such a default -- to use the technical term -- started spooking investors. Stock market indices fell nearly 1% on Monday's open,. European and most Asian markets as well.
"I'm telling you that on the 17th we run out of our ability to borrow, and Congress is playing with fire," he said.
3/ What if they can't reach a deal? <b>Lawmakers would have to cut discretionary spending, including defense spending, by a third every month; cut mandatory spending, which includes Social Security, by 16%, or raise taxes by 12% --</b> or some combination of all three. Otherwise, the government would fall about $30 billion short each month
4/ With Boehner seeming to dig in on demands for spending cuts in exchange for a debt deal, the<b> White House seemed to soften a bit on the issue Monday.</b>
While White House officials have said they favor a long-term deal to give the economy a bit of certainty, a White House official told CNN Monday that "It is up to Congress to pass a debt limit increase, and up to them for how long and when they want to deal with this again."
5/ "The amber alert system was never interrupted, but to eliminate any confusion, the informational site maintained by the Justice Department has been restored," Justice Department spokesman Brian Fallon told CNN.
6/ CDC warns it can't keep it's global eye on disease amid shutdown
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http://www.cnn.com/2013/10/07/politics/government-shutdown-need-to-know/index.html?hpt=hp_t1
1/ Meanwhile, House Speaker John Boehner said he won't talk debt deal without an agreement on spending cuts, a shift from earlier Republican demands seeking a delay in the implementation of Obamacare.
"It is time to deal with America's problems," he told ABC Sunday in demanding what he repeatedly called a "conversation" with the White House and Democrats. "How can you raise the debt limit and do nothing about the underlying problem?"
2/ The magic number is 10: And by magic, we mean big, hairy and scary. That's the number of days until, Treasury Secretary Jack Lew says, the government runs out of money to pay its bills.
On Monday, the prospect of such a default -- to use the technical term -- started spooking investors. Stock market indices fell nearly 1% on Monday's open,. European and most Asian markets as well.
"I'm telling you that on the 17th we run out of our ability to borrow, and Congress is playing with fire," he said.
3/ What if they can't reach a deal? <b>Lawmakers would have to cut discretionary spending, including defense spending, by a third every month; cut mandatory spending, which includes Social Security, by 16%, or raise taxes by 12% --</b> or some combination of all three. Otherwise, the government would fall about $30 billion short each month
4/ With Boehner seeming to dig in on demands for spending cuts in exchange for a debt deal, the<b> White House seemed to soften a bit on the issue Monday.</b>
While White House officials have said they favor a long-term deal to give the economy a bit of certainty, a White House official told CNN Monday that "It is up to Congress to pass a debt limit increase, and up to them for how long and when they want to deal with this again."
5/ "The amber alert system was never interrupted, but to eliminate any confusion, the informational site maintained by the Justice Department has been restored," Justice Department spokesman Brian Fallon told CNN.
6/ CDC warns it can't keep it's global eye on disease amid shutdown
As Tropical Storm Karen Dissipates, the Debate Grows Over a Quiet Hurricane Season
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http://science.time.com/2013/10/07/...-over-a-quiet-hurricane-season/#ixzz2h5J5pyE4
1/ Despite projections to the contrary, <b>the 2013 Atlantic hurricane season has largely been a dud â and thereâs no sign that will change any time soon. Tropical Storm Karen briefly threatened the Gulf coast this weekend, but by Sunday it was clear that the storm was weakening,</b>
2/ Why have there been so few storms so far this year? First of all, there have been storms â 11 named storms so far, which is about average for this time of year. But those storms have been weaker than average â only two, Humberto and Ingrid, were classified as hurricanes â and none of them have yet made landfall.
3/ What this means, really, is that weâve been lucky. <b>The historically active 2005 hurricane season â which featured 28 total storms and seven major hurricanes â was less than 10 years ago</b>. The effect that climate change will have on hurricane intensity and frequency is less than clear
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http://science.time.com/2013/10/07/...-over-a-quiet-hurricane-season/#ixzz2h5J5pyE4
1/ Despite projections to the contrary, <b>the 2013 Atlantic hurricane season has largely been a dud â and thereâs no sign that will change any time soon. Tropical Storm Karen briefly threatened the Gulf coast this weekend, but by Sunday it was clear that the storm was weakening,</b>
2/ Why have there been so few storms so far this year? First of all, there have been storms â 11 named storms so far, which is about average for this time of year. But those storms have been weaker than average â only two, Humberto and Ingrid, were classified as hurricanes â and none of them have yet made landfall.
3/ What this means, really, is that weâve been lucky. <b>The historically active 2005 hurricane season â which featured 28 total storms and seven major hurricanes â was less than 10 years ago</b>. The effect that climate change will have on hurricane intensity and frequency is less than clear