Oil Extends Losses On Demand Concerns
Oil prices fell about 1 percent on Friday to extend losses from the previous session after OPEC cut its demand forecast and the International Energy Agency said the re-balancing of the global oil markets remains “fragile.”
Benchmark Brent crude fell 62 cents, or 1 percent, to $60.52 a barrel, after having fallen half a percent in the previous session. U.S. oil futures were down 65 cents, or 1.1 percent, at $57.59 a barrel after declining 0.8 percent on Thursday.
Both benchmarks closed on Wednesday at their highest levels since January 2020 after a nearly record-setting run of consecutive daily gains.
In its February Oil Market Report, OPEC said it expects oil demand to rise by 5.8 million barrels per day (bpd) this year, down by around 100,000 bpd from last month’s projection due to extended lockdowns and the re-introduction of partial lockdowns in a number of countries.
The International Energy Agency said in its latest monthly report that the market was still over-supplied, although Covid-19 vaccines are expected to help demand recover in the second half of this year.
Montenegro and St. Vincent approve Russia's Sputnik V vaccine – RDIF
MOSCOW (Reuters) – Montenegro and Saint Vincent and the Grenadines have approved Russia’s Sputnik V vaccine against the new coronavirus for use, Russia’s RDIF sovereign wealth fund said on Friday.
The Russian vaccine has now been approved for use by a total of 26 countries, RDIF said.
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UN rights investigator calls for sanctions on Myanmar
- United Nations human rights investigator cites "growing reports, photographic evidence" that security forces have used live ammunition against protesters.
- Thomas Andrews says the U.N. Security Council should consider imposing sanctions, arms embargos, and travel bans.
The United Nations human rights investigator for Myanmar said on Friday there were "growing reports, photographic evidence" that security forces have used live ammunition against protesters, in violation of international law.
Thomas Andrews said that the U.N. Security Council should consider imposing sanctions, arms embargos, and travel bans due to the military coup on Feb. 1 and reiterated his request to carry out a mission to the country.
Myint Thu, Myanmar's ambassador to the U.N. in Geneva, said that it would maintain cooperation with the U.N. and Association of Southeast Asian Nations (ASEAN), adding: "We do not want to stall the nascent democratic transition in the country".
Fox News Analyst: ‘Hard To Quantify’ How Badly Trump Betrayed The Constitution
Fox News contributor Andrew McCarthy said Thursday there is no doubt the presidency of Donald Trump was “indelibly stained” by his conduct during his final weeks in office.
In a podcast interview with Mediaite’s Aidan McLaughlin, McCarthy said he couldn’t recall anything as bad from an American president as Trump’s weeks-long riling up of his supporters with election fraud lies following his loss to President Joe Biden.
“I can’t think of any other president, if you (don’t) just take January 6 by itself, but this whole continuum from November 3rd up until he left office, that’s as bad as anything I’m aware of in American history from an American president,” said McCarthy, a columnist for National Review.
Trump was impeached by the House for inciting the deadly U.S. Capitol riot and is currently being tried in the Senate.
Trump’s pressuring of then-Vice President Mike Pence in early January to “not count the state’s electoral votes” was “wrong on so many levels,” said McCarthy.
“It’s hard to quantify what a betrayal of the Constitution that is,” he added.
McCarthy, a former Assistant U.S. Attorney for the Southern District of New York, added that he hoped Trump’s presidency would eventually be remembered as a “historical aberration.”
Listen to the full interview here:
Newell Brands, Inc. Q4 adjusted earnings Beat Estimates
Newell Brands, Inc. (NWL) reported earnings for fourth quarter that declined from last year.
The company’s bottom line totaled $127 million, or $0.30 per share. This compares with $794 million, or $1.87 per share, in last year’s fourth quarter.
Excluding items, Newell Brands, Inc. reported adjusted earnings of $238 million or $0.56 per share for the period.
Analysts had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 2.7% to $2.69 billion from $2.62 billion last year.
Newell Brands, Inc. earnings at a glance:
-Earnings (Q4): $238 Mln. vs. $180 Mln. last year.
-EPS (Q4): $0.56 vs. $0.42 last year.
-Analysts Estimate: $0.48
-Revenue (Q4): $2.69 Bln vs. $2.62 Bln last year.
Next quarter EPS guidance: $0.12 to $0.14
Next quarter revenue guidance: $2.04 to $2.08 Bln