In Oct. 21, 2019 photo, a pumpjack from California-based energy company Signal Hill Petroleum is seen in front of the landmark Curley's Cafe, one of two pumpjacks in the Diner's parking lot which has been churning out oil from the ground below since 1921 in Signal Hill, Calif.Geopolitics is back in the driving seat. The U.S.
September’s oil price spike was short lived as Riyadh didn’t respond to the attacks, which the U.S. blamed on Iran and which Iran in turn denied. However, if Iran fulfils its threat of “severe retaliation” over the killing of General Qassem Soleimani it could well magnify market moves.Any conflict and surging oil prices risk snuffing out the nascent global economic recovery.
Upcoming readings of euro zone inflation and U.S. employment could encourage further bond selling, should they beat forecasts, but most still think it’s too early to call time on the rally. For all the talk that sovereign bonds are expensive, many investors are still clearly sticking with them.In this Sept. 27, 2018 file photo, a United Auto Workers assemblyman installs the front doors on a 2018 Ford F-150 truck being assembled at the Ford Rouge assembly plant in Dearborn, Mich.