Manus a warm welcome to daybreak europe live from dubai and london. The question is who will plug the gap of the saudi aramco outage . A couple oft million back online in the next couple of days. Come is the extra going to from and how quickly will it hit the market . Nejra from the saudi reserves . Will the spr be enough . We dont have an update. The key question is still out there. Looking ahead to the fed, how might it take this . How will it fit into the Risk Management . Manus markets looking for another 50 basis points. Spike risk of an oil going to counteract the strengths of the consumer . E a quick sweep to the through the market. Have brent over two days what you are seeing this morning is more relevant, the drop of a 1 . The market is hoping the special reserves will be released. And the Oil Producers will come together online and plug the gap. Of is concerned. The policies the aussies are keeping the dream alive. The rba keeping the door open to lower rates. In termsbout sh
First, iraq has joined the united arab emirates, qatar, and oman and calling for opaque and allies to stick with their agreement. That is despite recent price gains. The deal helped lift brent above 70 a barrel this week. Concern. Expressed bloomberg spoke to the head of the International Energy agency and the omani Energy Minister and got more reaction. Today, oil price is about 70. The Global Oil Demand will billion out 1. 4 1. 4 Million Barrels a day. A lot of new Oil Production is coming from the united states, from brazil, from africa, from canada. A lot of oil in the market. I think thats the point of socussion, because the focus far has been in the supply side. We often dont discuss the demand side of the equation, and maybe we need to do some more work them up because all reports suggest that 2018 there will be growth on the gdp worldwide. Demand,l trigger better and i think we have a responsibility to meet that demand. Think this discussion needs to look at both sides. Sideten
Us why he is eyeing london and. Istanbul for market expansion. First, iraq has joined the united arab emirates, qatar, and oman and calling for opaque and allies to stick with their agreement until the end of the year. That is despite recent price gains. The deal helped lift brent above 70 a barrel this week. Iran has expressed concern. , spurring a renewed push from u. S. Shale producers. Bloomberg spoke to the head of the International Energy agency and the omani Energy Minister and then got more reaction from citi. Today, oil price is about 70. The Global Oil Demand will increase about 1. 4 Million Barrels a day. A lot of new Oil Production is coming from the United States, from brazil, from west of africa, from canada. A lot of oil in the market. We expect is lunch market in the next 12 months to come unless we hit prices. I think thats the point of discussion, because the focus so far has been in the supply side. We often dont discuss the demand side of the equation, and maybe we
The first since the nation floated its currency at the end of 2016. It was a widely anticipated easing cycle after record high borrowing. It attracted 20 billion of local currency debt. Tracy alloway and i got more on the chief economist. Jeanpaul i was expecting a bigger cut. I know that seems like a lot in the context of emerging markets. Remember, rates were raised 700 basis points from the time of the devaluation up until last week. This is the first step of a very long journey to go. To be perfectly honest, i dont look too deeply into the Monetary Policy statements out of the central bank of egypt these days. When it comes to insight that it can provide on the future course of policy, i found them somewhat lacking. Tracy you are phrasing every diplomatically. Jeanpaul i am trying to be diplomatic. From my perspective, it is a big cut, it is encouraging, it shows there is confidence. Remember, 100 points is only half of the surprise hike we saw in july of 2017 when they raised rate
Ties and women rights. It is 8 00 a. M. A cross that emirates, 5 00 a. M. In london. This is Bloomberg Markets middle east. It is mid day in hong kong. Many markets across asia are closed at the moments. I am not sure if this is good news or bad news for the markets given that investors will have to go through so much ego. Not only out of the weekend, but those phenomenal trade numbers out of south korea this morning. Open,e markets that are you can open the go function on the bloomberg. The nikkei is now above 19,000. They are gaining momentum given that the yen is reversing earlier gains and losing against the dollar. More of a dollar story given that spending deal and the u. S. Congress. The asx 200 gaining for a seventh consecutive session. The fastest annual growth in prices in almost three years. Brent crude reversing earlier gains down 3 10 of 1 . Treasury yields are rebuilding in asian training. Debt markets are looking a little bit mixed. Some interesting, interesting moves in