To it. But it is a mess. Alix this morning we are looking at the gulf of oman. We have two tankers under some kind of attack. About how or by whom. There are questions as to what it actually means. And who has the military capabilities to do that . Alix that is where you had those two vessels on their way to singapore, but a month ago we also had saudi tankers attacked, leaving questions as to who in the region would want that kind of attack and who would be able to carry it out. That is the real turning point for the markets. David oil was really on its way down before all this happened. Alix thats right. Yesterday oil prices really took it on the chin. A 3 rally on this kind of geopolitical risk right next to the straits of hormuz is kind of nothing at the end of the day. Part of that, to me, is still demand worries. Opecs monthly report lowering demand for the first quarter. Says, youre right, trade tensions and demand dont go handinhand. So we will see. David and had they set the d
Into the weekend. This as president xi brings president obama in order to try to get they gaucnegotiations ba track again. And fosun chairman goes missing. Welcome to the show. We have got the Ieas World Energy outlook breaking and hitting the wires at the moment. As we said on the supply front they said the evidence that the saudiled strategy is starting to work. Theyre taking a toll on nonopec supply with annual growth shrinking in november however they do say that they see iranian oils ramping up and that is the big unknown for next year. On the demand side, theyre saying that Lower Oil Prices have driven demand growth to a five year high as motorists fill up their tanks. However that is likely to have peaked in the Third Quarter saying consumption is now going to be on the wane and in 2016 we might see demand starting to slide a little bit. Oil price versus been soft this week. One of the reasons why equity markets have been soft as well. Wti below the 40 mark and comfortably below
Announces and 800 million euro Share Buyback program. It expects fullyear profit at the upper end of its forecast. Guy another busy day, another interesting week in prospect. Lots of corporate reporting numbers this morning. Lots of Macro Economic news as well. Lets get the bloomberg first alert news with Caroline Hyde. Caroline chinas official factory gate signaled a record six month in a row of contraction. The official Services Index also fell while a private pmi survey signaled the industry shrank for its 11th straight month. Slumps in the wake of the chinese data. Nigeria boost production for opec. Leftesident donald tusk the meeting with David Cameron late last night, saying there is no deal yet. The pair have instead agreed to postpone by 24 hours the publication for a template of a compromise plan. Hsbc will impose a hiring and pay freeze this year. Ceo Stuart Gulliver outlined a threeyear plan to pare back a sprawling Global Network by eliminating jobs. That is as he pushes to