As Brent crude oil closed on Wednesday at its lowest level since before OPEC and other nations agreed to cut output, someone bet half a million dollars on prices surging to $80 by year-end.Options to buy 10 million barrels of Brent crude for $80 a barrel in December traded Wednesday, far exceeding the next-largest contracts, according to exchange data compiled by Bloomberg.“That is clearly a geopolitical insurance premium,” Source Rigzone
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Top Turkish and Russian economy officials are set to discuss key economic, political, technical and trade issues at an international fair in the Aegean city of İzmir, which will start on Aug. 18 and last until Aug. 27. Source: Daily News
There are signs of UE recovery,with Eurostat reporting 2.2% euro-area growth over the second quarter of 2017, up from last year’s 0.6%. Central/Eastern Europe was growing fastest: Romania (5.7%), Latvia (4.8%), Czech Republic (4.5%) and Poland (4.4%). The weakest growth was in Belgium (1.4%), Italy (1.5%), Finland and UK (1,7). Source: Euobserver
Singapore stands ready to partner China to jointly build the Belt and Road Initiative, Singapore’s Minister for National Development and Second Minister for Finance Lawrence Wong said on Tuesday. Source: China Daily