{"id":547143,"date":"2022-06-09T04:17:47","date_gmt":"2022-06-09T04:17:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/"},"modified":"2022-06-09T04:17:47","modified_gmt":"2022-06-09T04:17:47","slug":"the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/","title":{"rendered":"The only way is up for oil + US regulator proposes changes to retail trading \u2014 and draws the ire of Wall St"},"content":{"rendered":"

<\/a> There\u2019s a growing consensus that oil is only headed in one direction:<\/strong> Oil prices could rise beyond USD 150 a barrel in the coming months as sanctions on Russia\u2019s oil exports roil the markets, the head of commodities trader Trafigura has warned. The energy markets have reached a \u201ccritical\u201d state and oil could soon turn \u201cparabolic\u201d as the market undergoes its biggest reconfiguration in decades, Jeremy Weir said at a Financial Times<\/a> conference. \u201cI really think we have a problem for the next six months . . . once it gets to these parabolic states, markets can move and they can spike quite a lot.\u201d<\/p>\n

\u201cNowhere near the peak\u201d:<\/strong> The UAE has warned that prices are \u201cnowhere near\u201d their peak as the loosening of covid restrictions in China threatens to pile further pressure on an already tight market, Bloomberg<\/a> says. \u201cWith the pace of consumption we have, we are nowhere near the peak because China is not back yet,\u201d Energy Minister Suhail Al Mazrouei said yesterday.<\/p>\n

Let\u2019s hope Jamie\u2019s wrong:<\/strong> JPMorgan CEO Jamie Dimon said earlier this month<\/a> that prices could reach as high as USD 175 a barrel this year, while Goldman<\/a> is forecasting them to average USD 140 during the third quarter.<\/p>\n

\n

US equities could be headed for an earnings recession before the year is out, <\/strong>as Fed tightening takes a toll on margins at large-cap firms, writes<\/a> Bloomberg markets strategist Simon White. Measures of CEO confidence at US firms have plummeted this year, suggesting trouble ahead for earnings growth as a strengthening USD hits global trade and costs soar on the back of high inflation. \u201cEven if a full recession ... is avoided, an earnings recession still means equities will find it hard to stage a sustainable rally,\u201d White predicts.<\/p>\n

US regulator eyes shake-up of trading rules to protect retail investors: <\/strong>Meanwhile, US Securities and Exchange Commission (SEC) head Gary Gensler has proposed an overhaul of US stock-trading rules, Reuters<\/a>reports. The proposed changes, which come a year after the meme-stock frenzy, include creating an \u201copen and transparent\u201d auction mechanism for firms to execute trades from retail investors, part of efforts to boost competition. \u201cI asked staff to take a holistic, crossmarket view of how we could update our rules and drive greater efficiencies in our equity markets, particularly for retail investors,\u201d Gensler said yesterday.<\/p>\n

The wolves of Wall St are howling: <\/strong>The proposed plan was met with strong criticism by brokerages and trading firms, The Wall Street Journal<\/a>writes, noting that executing retail trades is a lucrative business for a small handful of firms who have little incentive to support any changes to the current system.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,236<\/p>\n<\/td>\n

\n

+1.9% (YTD: -14.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 18.65<\/p>\n<\/td>\n

\n

Sell 18.73<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 18.67<\/p>\n<\/td>\n

\n

Sell 18.73<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

11.25% deposit<\/p>\n<\/td>\n

\n

12.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,596<\/p>\n<\/td>\n

\n

-0.5% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,710<\/p>\n<\/td>\n

\n

-0.3% (YTD: +14.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,396<\/p>\n<\/td>\n

\n

+0.7% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,116<\/p>\n<\/td>\n

\n

-1.1% (YTD: -13.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,593<\/p>\n<\/td>\n

\n

-0.1% (YTD: -2.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

3,789<\/p>\n<\/td>\n

\n

-0.5% (YTD: -11.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 123.65<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 8.18<\/p>\n<\/td>\n

\n

-6.0%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,855<\/p>\n<\/td>\n

\n

-0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 30,135<\/p>\n<\/td>\n

\n

-3.2% (YTD: -34.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 1.9% at yesterday\u2019s close<\/strong> on turnover of EGP 902 mn (7.5% above the 90-day average). Foreign investors were net sellers. The index is down 14.3% YTD.<\/p>\n

In the green: <\/strong>Sidi Kerir Petrochemicals (+7.0%), Heliopolis Housing (+5.4%) and Fawry (+5.1%).<\/p>\n

In the red: <\/strong>CIRA (-2.2%), e-Finance (-0.9%) and Egypt Kuwait Holding-EGP (-0.1%).<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s a growing consensus that oil is only headed in one direction: Oil prices could rise beyond USD 150 a barrel in the coming months as sanctions on Russia\u2019s oil exports roil the markets, the head of commodities trader Trafigura has warned. The energy markets have reached a \u201ccritical\u201d state and oil could soon turn […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[93,72,164,119,462,91,122,270,9585,218,90,897],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547143","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-energy","tag-enterpriseam","tag-equities","tag-financial-markets","tag-microsoft","tag-oil-and-gas","tag-planet-finance","tag-russia","tag-sec","tag-turkey","tag-uae","tag-wall-street","wpautop","entry"],"acf":{"mongo_id":"0e488e5e-1bf2-4c7b-bc35-a885c3d3ba4d","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[547124],"teaser":"","voice_url":""},"yoast_head":"\nThe only way is up for oil + US regulator proposes changes to retail trading \u2014 and draws the ire of Wall St - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The only way is up for oil + US regulator proposes changes to retail trading \u2014 and draws the ire of Wall St\" \/>\n<meta property=\"og:description\" content=\"There\u2019s a growing consensus that oil is only headed in one direction: Oil prices could rise beyond USD 150 a barrel in the coming months as sanctions on Russia\u2019s oil exports roil the markets, the head of commodities trader Trafigura has warned. The energy markets have reached a \u201ccritical\u201d state and oil could soon turn […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-09T04:17:47+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The only way is up for oil + US regulator proposes changes to retail trading \u2014 and draws the ire of Wall St\",\"datePublished\":\"2022-06-09T04:17:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\"},\"wordCount\":562,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"energy\",\"EnterpriseAM\",\"equities\",\"Financial Markets\",\"microsoft\",\"oil and gas\",\"Planet Finance\",\"Russia\",\"SEC\",\"Turkey\",\"UAE\",\"Wall Street\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\",\"name\":\"The only way is up for oil + US regulator proposes changes to retail trading \u2014 and draws the ire of Wall St - 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The price of Brent fell 2.3% to USD 74.76 on the news, which could pave the way\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559980,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/10\/what-the-markets-are-doing-on-10-february-2021\/","url_meta":{"origin":547143,"position":1},"title":"What the markets are doing on 10 February 2021","author":"enterpriseam admin","date":"10 February 2021","format":false,"excerpt":"Cookie jar, meet hand: Saudi Arabia\u2019s central bank is about to undergo its biggest changes in decades in what may result in more of the country\u2019s hard currency reserves going to the country\u2019s sovereign wealth fund, where they can be used to pay for Mohammed bin Salman\u2019s ambitious projects, the\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563742,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/oil-prices-resume-their-advance-hit-2-5-year-high\/","url_meta":{"origin":547143,"position":2},"title":"Oil prices resume their advance, hit 2.5-year high","author":"enterpriseam admin","date":"14 July 2021","format":false,"excerpt":"US oil hit its highest price in more than two-and-a-half years yesterday as the International Energy Agency warned of an intensifying supply crunch as prospects of OPEC+ agreeing to raise supply remain low, Bloomberg says. 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