The GDP data of the US economy for the first quarter of 2016 is published, and the real GDP growth turned out to be 1.95% (year-on-year), slightly slowing down from 1.98% in the previous quarter.
As the economic growth in mid 2015 was greater than 2%, the figure indicates the economy has decelerated after the Fed ceased quantitative easing.
Continue reading 2016 1Q US GDP: the slowdown continues, justifying the weak dollar
On 14 Jul, the West and Iran agreed to freeze Iran’s nuclear programme and, in exchange, gradually relieve the sanctions on the Iranian economy.
This agreement allows Iran to export oils and natural gas to the western countries to increase the oil supply of the world, which has already been greater than the demands. Iran has the 4th greatest oil reserves and the 2nd greatest natural gas reserves in the world.
The oil prices have already been declining due to the US shale oil and Saudi Arabia refusing to decrease its production, but the markets haven’t fully reflected the benefit that oil tankers would get from the increasing oil supply.
Continue reading Iran nuclear deal and sanctions relief could boost oil tanker stocks