Global Growth at Risk From $100 Oil Next Year, BofAML Says

If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year — but this hinges crucially on the dollar, according to Bank of America Merrill Lynch. Sanctions on Iran, shale bottlenecks, Venezuelan turmoil and increased demand pose an upside risk to prices, the bank said in
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At yesterday’s IUMI conference in Cape Town, Chair of the Ocean Hull Committee, Mark Edmondson, highlighted a continuing deterioration of premium income against the more positive picture of an improving risk profile. However, the international market has shown signs of improvement during 2018, although continuing volatility and uncertainty in many sectors remained a concern. “Whilst
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HSBC has warned a lack of spare oil capacity could push Brent crude to $100/b as the bank raised its price forecasts for the benchmark through to 2020. Europe’s largest bank is the latest global institution to revise its oil price assumptions as concerns grow over how Iranian crude will be replaced by the market
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LONDON: Confidence in the ability of sound risk management to contribute to commercial success in the shipping industry has fallen in the last 12 months, according to our annual Shipping Risk Survey. Respondents to the survey rated the extent to which enterprise and business risk management is contributing to the success of their organisation at
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Confidence in the ability of sound risk management to contribute to commercial success in the shipping industry has fallen in the last 12 months, according to the latest annual Shipping Risk Survey from leading accountant and shipping adviser Moore Stephens, informed a release. Respondents to the survey rated the extent to which enterprise and business
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Oil briefly touched a three-week intraday high, seconds before a government report showed a bigger-than-expected decline in U.S. stockpiles. The Energy Information Administration reported nationwide crude inventories fell 2.57 million barrels last week, larger than the 1.49 million-barrel drop that analysts forecast in a Bloomberg survey. West Texas Intermediate reached $69.55 a barrel seconds before
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Goldman Sachs Group Inc. reported slightly higher risk-taking in commodities and signaled a recovery for the business that last year suffered its worst performance since the bank went public in 1999. Commodity performance increased significantly compared with the second quarter of 2017, Chief Financial Officer Marty Chavez told analysts on a conference call. Goldman’s commodities
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A majority of Indian and foreign investors consider that high oil prices have emerged as a significant risk to the Country’s economy, Moody’s Investors Service said recently. The US rating agency’s report is based on a survey of 175 respondents, including from over 100 financial institutions at the annual India Credit Conference in Mumbai and
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ABS announced its successful development of a groundbreaking new methodology to measure cyber security risk associated with operational technology, providing marine and offshore clients a calculated risk index for vessels, fleets and facilities. The index quantifies cyber security risk and gives owners and operators an actionable strategy to reduce cyber risk onboard a vessel. Until
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Commerce and Industry Ministry Suresh Prabhu has cautioned that unilateral trade measures and counter measures can stop the fragile global economic recovery in its tracks and have implications for jobs, economic growth and development. Commenting on the recent cycle of unilateral trade measures and proposed counter measures, Prabhu said “actions and counter actions such as
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