Morocco news

18 September 05:34 PM US crude oil inventories rise as futures extend drop

Mubasher: US crude oil stockpiles climbed by 1.1 million barrels to 417.1 million barrels in the week ended 13 September.

Global Reports

18 September 05:06 PM Trump orders to ‘substantially’ tighten sanctions on Iran

Mubasher: US President Donald Trump on Wednesday said he ordered the Treasury Department to “substantially increase” sanctions against Iran, according to CNBC.

Global Reports

18 September 04:29 PM US bond yields fall before Fed’s policy decision

Mubasher: US debt bond yields dropped on Wednesday, amid expectations of a second interest rate cut is expected.

Global Markets brief

The deal was concluded at a total value of $631 million

18 September 04:01 PM Aramco acquires Shell’s stake in Saudi refining JV for $631m

Riyadh – Mubasher: The Saudi oil giant Aramco has completed the acquisition of Shell’s 50% stake in their Saudi Aramco Shell Refinery Co (SASREF), affiliated to Shell Saudi Arabia Limited, situated in Jubail Industrial City. The deal was concluded …

Corporate Actions

18 September 03:48 PM Updated US private housing permits climb in August

Mubasher: US housing units authorised under building permits surged by 7.7% last August to an adjusted annual rate of 1.419 million.

Global Markets brief

18 September 03:18 PM UK on course for no-deal departure – EU warns

Mubasher: London’s ideas for solving the sticking point of the Irish border seemed unlikely to help in reaching an agreement ahead of the departure.

Global Markets brief

18 September 02:24 PM US Treasury outlines new foreign investment rules

Mubasher: The US Treasury Department proposed new regulations on foreign investment in US companies, with access to critical technology and sensitive infrastructure.

Global Reports

18 September 02:01 PM Gold declines before Fed decision; oil fall supports risk-on sentiment

Mubasher: Gold prices declined on Wednesday as investors anticipated hints on the US Federal Reserve's monetary policy easing approach.

Global Reports

18 September 01:17 PM UK house prices rise at slowest pace since 7 yrs

Mubasher: House prices in the UK rose during the 12-month period ended last July, at the slowest pace almost seven years.

Global Reports

18 September 12:39 PM Updated UK consumer inflation hits slowest pace since 2016

Mubasher: The UK’s consumer price index, the headline gauge for the country’s inflation, dropped to 1.7% year-on-year in August, from 2.1% in July.

Global Reports

SAFCO’s feedstock supplieso the company’s plants reached normal levels

18 September 12:29 PM SAFCO’s feedstock supplies reach normal levels

Riyadh – Mubasher: The Saudi Arabian Fertilizer Company (SAFCO) announced that the feedstock supplies to the company’s plants have reached normal levels as of Wednesday, 18 September 2019. Following the evaluation of the final effects, no …

Commodities

Tasnee will continue working on evaluating the financial effects

18 September 12:28 PM Tasnee’s feedstock supplies curtailment drops to 25%

Riyadh - Mubasher: The National Industrialization Company (Tasnee) said that the shortage in its feedstock supply from Saudi Aramco improved as it went down to 25% approximately from 41%. The company’s feedstock supply is expected to reach normal …

18 September 12:22 PM Eurozone annual inflation stands still in August

Mubasher: Final reading suggested that the Eurozone annual inflation grew at 1% in August, unchanged from the rate in July.

Global Reports

18 September 12:11 PM Japan’s exports extend 9M declining-streak in August

Global Markets brief

Yansab is still evaluating the final effects

18 September 12:00 PM Yansab feedstock supplies curtailment down to 17%

Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) announced that its feedstock supplies shortage dropped to 17% from 30% following Aramco’s terrorist attacks last Saturday. The feedstock supplies are expected to reach their normal …

Commodities

18 September 11:51 AM UK output prices growth slows down in August

Mubasher: Producer price index for the goods leaving UK factories rose at a slower rate of 1.6% in the year ended August.

Global Markets brief

SABIC will continue working on evaluating the final effects

18 September 11:27 AM SABIC’s feedstock supplies shortage improves to 30%

Riyadh – Mubasher: Saudi Basic Industries Corp. (SABIC) said that its feedstock supplies shortage fell to 30% after it was seen at 49% following Aramco’s drone strikes on Saturday. The company’s feedstock supplies are expected to resume to their …

Commodities

18 September 11:17 AM Oil falls on Saudi reassuring remarks; focus on Fed decision

Mubasher: Oil prices eased on Wednesday as Saudi Arabia announced that crude production would be resumed, Reuters reported.

Global Reports

The reduction is likely to reach normal levels by the end of September

18 September 11:16 AM Saudi Kayan sees 37% curtailment in feedstock supplies from Saudi Aramco

Riyadh – Mubasher: The Saudi Kayan Petrochemical Co, listed on the Saudi Stock Exchange (Tadawul), on Wednesday announced that its feedstock supplies from Saudi Aramco have improved after curtailment went down to 37% from 50%. The reduction is …

Commodities

Petro Rabigh will announce any further details in due course

18 September 11:14 AM Petro Rabigh sees 20% curtailment in ethane gas

Riyadh – Mubasher: Rabigh Refining and Petrochemical Company (Petro Rabigh) announced a shortage of 20% in feedstock supplies of ethane gas following Saudi Aramco’s terrorist attacks earlier this week. The said curtailment will not affect the …

Commodities

Supplies are expected to reach normal levels by the end of September

18 September 11:08 AM Advanced Petrochemical reveals rise in feedstock supplies

Riyadh – Mubasher: Advanced Petrochemical Company announced that its feedstock supplies from state-run oil giant Saudi Aramco have improved as the reduction fell to 20% from 40%. Supplies are expected to reach normal levels by the end of September …

Commodities

18 September 10:36 AM UK credit card interest rates hit 13-yr peak in September

Mubasher: Average interest rates paid by UK consumers on their credit card balances hit their highest level in more than 13 years, according to figures.

Global Reports

17 September 05:55 PM Investor fears over incoming global recession hit decade-high–BAML

Mubasher: Risks of a global recession hit their highest since August 2009, as investor morale was dampened by sluggish global growth and heightened uncertainties.

Global Reports

17 September 05:13 PM US builder morale rises in September

Mubasher: US home builder sentiment recorded one-year peak in September, amid firm household formations and attractive mortgage rates, a builder lobby group’s report showed.

Global Reports