An Egyptian company is set to begin importing gas from Israeli offshore fields in the first quarter of 2019 and to re-export it as part of its plan to become a regional gas hub. Source: Oil Price
- The status of at least four tankers in the Gulf of Oman is uncertain and another was reportedly hijacked by gunman believed to be from Iran.
- Oil prices were weaker Tuesday on concerns about Covid affecting demand, and were not being impacted by the reports.
- One analyst says if the situation escalates, oil prices could begin to move higher. Source CNBC
Household debt rose by its highest dollar amount in 14 years during the second quarter, thanks mostly to a surge in the housing market that brought the collective American IOU to just shy of $15 trillion, the Federal Reserve reported Tuesday. Source CNBC
The United States and Germany reached an agreement on Wednesday on Russia’s Nord Stream 2 gas pipeline, ending a longstanding dispute between the allies, the Washington Post reported. Source Reuters
