World Market

Global Glut As Crude Oil Declines

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Neal Bhai Reports | 9899900589

Gold Silver Reports – Oil fell, erasing an earlier gain, as a global glut outweighed an increase in tension between Saudi Arabia and Iran.
The Saudi government cut ties with Iran following an attack on its embassy in Tehran by demonstrators protesting the execution of a prominent Shiite cleric. Prices last week capped the biggest two-year loss on record amid speculation a global glut will be prolonged as U.S. crude stockpiles expanded and the Organization of Petroleum Exporting Countries abandoned output limits.

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Tokyo Trading After The Sankei

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Gold Silver Reports – Takata Corp. surged the most in more than a year in Tokyo trading after the Sankei newspaper reported that Japanese automakers may provide support to the air-bag maker to safeguard access to its technology.

The report said the companies may jointly invest in Takata, spread the recall claims against the air-bag maker over several years and postpone their demands for price cuts for parts. Honda Motor Co., the automaker most affected by the recalls, said it’s waiting for the results of the investigation into the root cause of the defect and isn’t planning to extend aid or invest in Takata, according to spokesman Teruhiko Tatebe.

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