Thurs. AM KTFA News Articles 8-19-21



Samson » August 19th, 2021

Oil prices are near their lowest level in 3 months

19th August, 2021

Crude oil prices continued their losses for the sixth day, Thursday, hovering near their lowest levels in 3 months, affected by growing concerns about slowing fuel demand amid a rise in Corona virus cases around the world, and high gasoline stocks in the United States.

Brent crude was down 85 cents, or 1.3 percent, at $67.38 a barrel by 05:10 GMT, after falling 1.2 percent on Wednesday. US West Intermediate crude lost 93 cents, or 1.4 percent, to $64.53 a barrel, after falling 1.7 percent in the previous session. Both benchmark indices have lost more than 5% over the past six sessions, and are trading near their lowest level since May 24 in the previous session.

The slide continued as investors remained concerned about an increase in infections caused by the delta-type coronavirus worldwide. And the Energy Information Administration said yesterday, Wednesday, that US crude stocks fell by 3.2 million barrels last week to 435.5 million barrels, the lowest level since January 2020, but gasoline stocks rose by 696,000 barrels to 228.2 million barrels.

The minutes of the US Federal Reserve’s July 27-28 meeting showed that officials indicated that the spread of the variable delta could temporarily delay the full reopening of the economy, and restrict the job market.   LINK

IMF suspends cooperation with Afghanistan

19th August, 2021

The International Monetary Fund announced that Afghanistan will not be able to access the Fund’s resources, against the backdrop of the uncertainty surrounding the legitimacy of the authority in it after the Taliban took control of the capital, Kabul.

“As always, the IMF is guided by the views of the international community,” an IMF spokesperson said.

“There is currently a lack of clarity within the international community regarding the recognition of the government of Afghanistan, and as a result this country does not have access to the Special Drawing Rights or any other resources of the International Monetary Fund,” he added.

The Taliban announced its control over most of the country last Sunday, and the representative of the Taliban’s political office, Muhammad Naim, said that “the war in Afghanistan has ended, and the form of the government will become clear in the near future.”   LINK

Source: Dinar Recaps


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