Oil

No Picture

John Kerry To Discuss Mid-East “Peace”: Explain Aleppo Loss, Israel Shun – Live Feed

Outgoing US secretary of state John Kerry is to remark on the Israeli-Palestinian conflict this morning following Trump’s tweet-spanking and Israel’s security minister slamming Obama’s decision to abstain at The UN as “pathetic” accusing Kerry of “trying to make chaos” that will last past his tenure.

Delivered less than a month before President Barack Obama steps down, RT notes that the speech is expected to be the last work from his administration on the decades-old conflict.

After Kerry replaced Hillary Clinton as secretary of state in 2003, he made Israeli-Palestinian peace a priority and pushed for direct negotiations. However, they didn’t last the nine months they were expected to, collapsing in April 2014 without any tangible result. In June of that year, Israel launched a 50-day military campaign in Gaza.

Commenting on the upcoming speech, Israeli Public Security Minister Gilad Erdan said it was “pathetic to present a [peace] plan at the last minute when [Kerry] hasn’t managed in changing anything for his entire time in office.”

 

“It’s unfortunate that the Obama Administration, that erred for years in the Middle East, is trying to make sure that the chaos will last far past its tenure,” Erdan said late on Tuesday night, as cited by the Jerusalem Post.

 

“Kerry’s speech on parameters right before the end of his tenure will make sure that the Palestinians won’t agree to any sort of negotiations [with Israel] in the coming years and will [put] off chances of advancing peace.”

As Trump tweeted earlier, “Stay strong Israel, January 20th is fast approaching!”

Live Feed: (Kerry is due to speak at 11amET)…

The post John Kerry To Discuss Mid-East “Peace”: Explain Aleppo Loss, Israel Shun – Live Feed appeared first on crude-oil.top.


No Picture

Hawaii Restaurant Bans Trump Voters: “You Cannot Eat Here! No Nazis.”

Honolulu’s Cafe 8 1/2 would like for you to know that if you voted for Trump then, (1) you’re not welcome in their establishment and (2) you’re likely a Nazi.  The tiny “eclectic mom-and-pop restaurant” is drawing a lot of attention after posting the following bright yellow sign in their window:

“If you voted for Trump you cannot eat here! No Nazis.”

Hawaii

 

The sign obviously rattled some Trump supporters who told Fox News the message is discriminatory, and harkens back to the ‘racist and hate-filled’ days before statehood.”

“It’s childish and very unprofessional,” she said in an email. “… The restaurant owner doesn’t have to worry … I will not be stepping foot in that establishment.”

 

Willes Lee, former chairman of the Hawaii Republican Party and now president of National Federation of Republican Assemblies, told FoxNews.com the sign is discriminatory, and harkens back to “racist and hate-filled” days before statehood.

 

“Remember when Filipinos couldn’t go in certain places, or Japanese wouldn’t be allowed [in] many homes? And, it didn’t matter who they voted for,” said Lee, who is of Japanese descent.

 

“People should be able to get food without hearing a political message,” one apparent former customer wrote on Yelp. “I will never go back.”

Apparently, so many people lashed out at the sign on Yelp that the administrators had to post the following “Active Cleanup Alert” to notify everyone that they would be joining other Silicon Valley companies in censoring unsavory comments from Trump supporters.

Yelp Notice

 

Not terribly surprisingly, the restaurant was founded by a couple formerly hailing from the liberal bastion of San Francisco.  But don’t worry, one owner confirmed to the Honolulu Star-Advertiser that even if you’re wearing a Trump shirt they “don’t put anything different [in] your food”…which we think is Hawaiian for “we spit in your food excessively.”

According to the Honolulu Star-Advertiser, the café was founded by Robert Warner, a former hair stylist for Vidal Sassoon in San Francisco and former restaurateur in Seattle, along with his wife Jali.

 

Reached for comment Tuesday, Jali downplayed the sign’s supposed ban. She told FoxNews.com the restaurant is not actually asking customers whether they voted for President-elect Trump, and said even if they see a customer with a Trump shirt, “we don’t put anything different [in] your food.”

 

“Robert just wants to express how much he doesn’t like Trump,” Jali said. “If people take it personally or it hurts them, we cannot help. That’s why we say they have [a] choice if they want to come or not come. We don’t force them.”

Nothing like punishing 50% of the population which you deem to be intolerant by practicing some intolerance of your own.

The post Hawaii Restaurant Bans Trump Voters: “You Cannot Eat Here! No Nazis.” appeared first on crude-oil.top.


No Picture

The Two Nations Racing To Host The Next Oil And Gas Rush

Bit of a quiet week for major resource news. But several small items are suggesting some potentially explosive developments coming over the next several months. One of those comes in a place I’ve been watching closely the past year: the tiny Mediterranean island of Cyprus. Which this past week announced the winning bidders for an offshore licensing round — handing out acreage that could be prospective for some of the world’s largest natural gas targets. Cyprus’s Ministry of Energy, Commerce, Industry, and Tourism said it…



No Picture

Pending Home Sales Tumble As Surging Mortgage Rates Paralyze Housing Market

One month ago, even before the recent surge in mortgage rates to the highest level since April 2014…

 

… we noted that pending home sales had stalled, rising a barely positive 0.2%,, and well below expected, a number which we predicted was set for much more pain in the months ago.

Moments ago this prediction was confirmed when the NAR reported that November pending home sales plunged to their lowest level in nearly a year, sliding 2.5% in the month well below the 0.5% consensus forecast (and below the lowest -1.5% estimate), “as the brisk upswing in mortgage rates and not enough inventory dispirited some would-be buyers.”

On a year over year basis, the annual drop was the worst since August 2014.

Only the Northeast saw monthly and annual pending sales gains last month.

The details:

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 2.5 percent to 107.3 in November from 110.0 in October. After last month’s decrease in activity, the index is now 0.4 percent below last November (107.7) and is at its lowest reading since January (105.4).

According to the NAR’s perpetually cheerful chief economist, Lawrence Yun, the ongoing supply shortages and the surge in mortgage rates took a small bite out of pending sales in November. “The budget of many prospective buyers last month was dealt an abrupt hit by the quick ascension of rates immediately after the election,” he said. “Already faced with climbing home prices and minimal listings in the affordable price range, fewer home shoppers in most of the country were successfully able to sign a contract.”

It gets worse: with 2017 at the doorstep, Yun says higher borrowing costs somewhat cloud the outlook for the housing market. This was evident in NAR’s most recent HOME survey, which found that confidence amongst renters about now being a good time to buy has diminished since the beginning of the year1. The good news, according to Yun, is that the impact of higher rates will be partly neutralized by stronger wage growth as a result of the 2 million net new job additions expected next year.

“Healthy local job markets amidst tight supply means many areas will remain competitive with prices on the rise. Those rushing to lock in a rate before they advance even higher will probably have few listings to choose from,” said Yun. “Some buyers will have to expand the area of their home search or be forced to delay in order to save a little more money for their down payment.”

Existing sales are still expected to close out 2016 at a pace of around 5.42 million, which will eclipse 2015 (5.25 million) as the highest since 2006 (6.48 million). In 2017, sales are forecast to grow roughly 2 percent to around 5.52 million. The national median existing-home price is expected to increase to around 5 percent this year and 4 percent in 2017.

“Much more robust new home construction is needed to relieve inventory shortages and lessen the affordability pressures present throughout the country,” added Yun.

The geographic breakdown showed pervasive weakness by region:

  • The PHSI in the Northeast nudged forward 0.6 percent to 97.5 in November, and is now 5.7 percent above a year ago.
  • In the Midwest the index declined 2.5 percent to 103.5 in November, and is now 2.4 percent lower than November 2015.
  • South decreased 1.2 percent to an index of 118.7 in November and are now 1.3 percent lower than last November.
  • The index in the West fell 6.7 percent in November to 101.0, and is now 1.0 percent below a year ago.

Expect much more pain for housing, which as Mark Hanson noted recently is the least affordable it has ever been for buyers who need a mortgage, in the coming months which will promptly spill over into all other areas of the economy.

The post Pending Home Sales Tumble As Surging Mortgage Rates Paralyze Housing Market appeared first on crude-oil.top.


No Picture

Pisani “Disappointed” Again As Dow Tags Stops, Dumps Into Red

Time’s running out…

 

Stops run, then dive… and VIX is jumping again.

 

Is this the start of the pension rebalance rotation? As we warned last week…

Doesn’t look good for the Dow 20000 crowd. Running out of time in 2016 & tax-related selling is gonna hit hard in early 2017 Not enuf oomph

— fred hickey (@htsfhickey) December 28, 2016

The post Pisani “Disappointed” Again As Dow Tags Stops, Dumps Into Red appeared first on crude-oil.top.



No Picture

Trump Slams Obama “Inflammatory Statements”, Tells Israel To “Stay Strong, Jan 20 Is Fast Approaching”

Just when you thought it was safe to turn Twitter down from ’11’, president-elect Donald Trump unleashes a triple whammy tweet-storm against the Obama administration, “shocking” the mainstream media with his frankness.

First, he took direct aim at Obama, assuing the outgoing president of hobbling the transition to the Republican’s administration by unspecified “inflammatory” statements and “roadblocks,” as tensions between the two men spilled into the open less than a month before Inauguration Day.

Doing my best to disregard the many inflammatory President O statements and roadblocks.Thought it was going to be a smooth transition – NOT!

— Donald J. Trump (@realDonaldTrump) December 28, 2016

Then unloaded a double-tweet aimed at the treatment of Israel. As a reminder, last week, Obama ordered Samantha Power to abstain from a vote on a resolution declaring Israeli settlements in the West Bank illegal, allowing the measure to pass. Obama also said in an interview published by CNN on Monday that he would have beaten Trump, had he run for a third term.

We cannot continue to let Israel be treated with such total disdain and disrespect. They used to have a great friend in the U.S., but…….

— Donald J. Trump (@realDonaldTrump) December 28, 2016

not anymore. The beginning of the end was the horrible Iran deal, and now this (U.N.)! Stay strong Israel, January 20th is fast approaching!

— Donald J. Trump (@realDonaldTrump) December 28, 2016

As Bloomberg adds, the recent theatrics override the attempt by the two to mend relations: “after years of insults between the two men predating Trump’s run for the presidency, the real estate developer met with Obama shortly after the election and praised his character while promising to retain some initiatives, including portions of Obama’s signature health-care law. Both men have said they’ve spoken by phone more than once after that meeting. But their relations, at least in public, appear to have recently broken down.”

And, as Obama ends his ‘reign’ with scorched earth tactics – somehow aimed at protecting his legacy – we suspect Trump’s first 100 days will be spent busily unscrambling these eggs.

The post Trump Slams Obama “Inflammatory Statements”, Tells Israel To “Stay Strong, Jan 20 Is Fast Approaching” appeared first on crude-oil.top.



No Picture

USD/CAD – Trading the US <b>Crude Oil</b> Inventories

US Crude Oil Inventories measures the change in the number of barrels held in inventory. The report is published each week. A reading which is …The post USD/CAD – Trading the US <b>Crude Oil</b> Inventories appeared first on cr…