Climate target of 1.5°C called in doubt ($FT)
Credit Suisse gets lifeline from central bank
Banks as privately-owned state agents ($FT)
Exxon ramps up new crude distillation unit
Iran/Saudi deal to end arming Yemen ($WSJ)
If you are interested in banking supervision and financial failures, I can strongly recommend “Integrity, Fairness and Resolve”, a short monograph published by the Federal Reserve Bank of Kansas City about the savings and loan crisis of the 1980s. “Belly Up: The Collapse of the Penn Square Bank” also comes with my highest recommendation for a combination of insight and dark humour.
OIL PRICES fell sharply on March 15 in response to growing fears about a banking crisis and its impact on the economy. Brent futures were pushed bellow the bottom of the recent trading range:
U.S. DISTILLATE fuel oil inventories amounted to 120 million barrels on March 10. Inventories were -13 million barrels (-10% or -0.81 standard deviations) below the prior ten-year average. But the deficit has narrowed from -21 million barrels (-16% or -1.62 standard deviations) at the start of 2023 and -31 million barrels (-22% or -2.05 standard deviations) on October 7, 2022: