New York Stock Exchange will start. Edward of course with you, youre the man of the hour. I guess jay powell is. Take us through the day. Reporter heard what he said there, 25 basis point cut to the federal fund rate. There was very divided fed we saw here. Very divided committee on the fed funds rate. There were three dissents. The last time there were three dissents in the opposite directions, december 2014, five years ago. We had st. Louis fed president jim bullard who believed there should be a 50 basis point cut today. There was esther george, kansas city Federal Reserve president and Federal Reserve president of boston Eric Rosengren believed there not be a cut at all. The Federal Reserve is not forecasting recession as we go forward. Theyre not forecast anymore rate cuts this year however chairman Jerome Powell pushed back on that a little bit, that theyre watching the data coming in. Things may shift related to that, looking at volatility and uncertainty out there. Listen. What
Escalation that the u. S. Has cited for the a bird attack was the downing of an unmanned surveillance drone by Iranian Forces but wild World Leaders from the e. U. Russia china france the u. N. And the u. K. The vatican and germany have all urged restraint and voiced opposition to the plot the news still resonated elsewhere in the region in iraq and nation that is no stranger to u. S. Actions the tax stalled a deal that was nation has struck with an Oil Giant Exxon mobil to boost output in the recovery nation. According to a reuters exclusive the deal which is worth 53000000000. 00 has been held back due to the move on iran and the heightened tensions in the area. The strait of hormuz is in focus as President Trump called out the military strike against iran and now the market is reacting but if this trend continues what can we expect to see in the oil sector and what are the other factors that are play for the rising prices here to drill into all the details hard she produces science
Rising tensions in the strait of hormuz its a pivotal choke point for a Global Oil Sales that sees major commerce shipped through daily the key point of escalation that the u. S. Has cited for the adverted attack was the downing of an unmanned surveillance drone by Iranian Forces but wild World Leaders from the e. U. Russia china france the u. N. And the u. K. The vatican and germany have all urged restraint and voiced opposition to the plot the news still resonated elsewhere in the region in iraq and nation that is no stranger to u. S. Actions the tax stalled a deal that was nation has struck with an Oil Giant Exxon mobil to boost output in the recovering nation. According to a reuters exclusive the deal which is worth 53000000000. 00 has been held back due to the move on iran and the heightened tensions in the area. The strait of hormuz is in focus as President Trump called out the military strike against iran and now the market is reacting but if this trend continues what can we exp
Wednesdays drone attack it was a more than 4 percent and brant was up more than 3 percent surging to the highest level since late may but with brant crude over 65. 00 per barrel today traders are actually a little confused about the situation in the middle east specially after President Trump had given initial approval for the u. S. Military to launch strikes on iran in retaliation for terror on shooting down the american joan but before pulling back at the last minute like you mentioned you see christie the Trump Administration has an on predictable strategy on iran with john bolton in my pump a 0 in the drivers seat and a slightly more skeptical President Trump yielding to this advisers and because of this its a very its a little difficult to figure out who is calling the shots and even trickier to predict what happens next which has oil traders of the. Very concerned but not as much as one would predict given the Current Situation but why is why heres why kristie the drone attack wh
Trump had given initial approval for the u. S. Military to launch strikes on iran in retaliation for terror on shooting down the american joan but before pulling back at the last minute like you mentioned you see christie the Trump Administration has an on predictable strategy on iran with john bolton in my palm pale in the drivers seat and a slightly more skeptical President Trump yielding to his advisers and because of this its a very its a little difficult to figure out who is calling the shots and even trickier to predict what happens next which has oil traders are very concerned but not as much as one would predict given the Current Situation but why is why here is why kristie the drone attack which occurred in the strait of hormuz is the worlds most sensitive or all transportation choke point oil tankers carrying crude from ports on the persian gulf must pass through the strait and around 21. 1000000 barrels of oil a day float through the strait in 2018 now thats equivalent to ro