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Brexit Deal Faces Latest Opposition | OPEC Issues Warning as Demand Falls

Published November 14, 2018
  • Oil prices are collapsing. A barrel of West Texas Intermediate plummeted 7.1% in yesterday’s session, representing the longest losing streak for US crude ever recorded. OPEC has warned that demand for crude is falling faster than expected, as WTI for December delivery trades at $55.75.
  • The UK’s draft agreement on the exit from the EU was established yesterday. Prime Minister May must now seek approval from her cabinet to support the offer, followed by a critical parliamentary vote. Northern Ireland’s DUP and the official opposition Labour Party have specified they won’t support the deal.
  • The Trump Administration has momentarily put off a decision to designate imported cars a threat to national security. This comes as Washington prepares to impose new tariffs on the auto sector. Trump’s top advisers on international trade met Tuesday to discuss potential car levies as uncertainty of new escalation in US protectionism grows.