Monthly Archives: August 2015
5reactors already got operation approval by NRA 19 of Japan’s remaining 38 operable reactors have filed restart applications with the NRA that are in different stages of the review process. The total capacity of reactors under review is about 18,400 MW.
furthermore someone has also to consider further addition by approximately half million barrels in 2016 from Iran.
#EIA forecasts #Brent crude #oil prices will average $54/b in 2015 and $59/b in 2016, ($6/b and $8/b lower than previous forecast). Atlantic spread at 5$/bbl. The #contango front month to year basis risk for Brent settled at -$7.32/b on August 6 due to excess supply expectations. Historically in highest collapse (2008) Brent stopped the recovery at Fibonacci 23% RL at 59.5 and fell back below the 14.6% Fibonacci RL at 49.2. Now fundamentals are in the play with Iran at the forefront.
“…Greece’s banking crisis revealed the main structural problem of the eurozone: A currency union must isolate banks from sovereign debt. To fix this central structural problem, Europe must open its nation-based banking system, recognize that sovereign debt is risky and stop letting countries use national banks to fund national deficits. If Detroit, Puerto Rico or even Illinois defaults on its debts, there is no run on the banks. Why? Because nobody dreams that defaulting U.S. states or cities must secede from the dollar zone and invent a new currency. Also, U.S. state and city governments cannot force state or local banks to lend them money, and cannot grab or redenominate deposits. Americans can easily put money in federally chartered, nationally diversified banks that are immune from state and local government defaults. Depositors in the eurozone don’t share this privilege….”