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Wednesday morning UPDATE for April 29, 2020

Iraqi TV news is showing Al-Kazemi signing off on his government, stating it’s done and ready for Parliament vote on Sunday.

Parliament confirms they have received the names of the cabinet from Al-Kazemi.

Thursday is just a formal proposal of the names and they are hearing early next week it will be passed.

Being shared in the news: 200 ministers will vote Sunday for Al-Kazemi and pass his cabinet also indicating that Sunday is the “day.” #wearethepeople

Cutebwoy:   Next Sunday .. the date for voting on the new government

April 29, 2020 | 1:39 PM

Iraqi Position Network

The deputy for the Iraqi Forces Alliance, Zaytoun Al-Dulaimi, revealed, on Wednesday, that a date for Sunday will be fixed for the government of Prime Minister-designate Mustafa Al-Kazemi, noting that Al-Kazemi will send the names of members of his cabinet and the government program to parliament tomorrow Thursday.

Al-Dulaimi said, “The Prime Minister-designate Mustafa Al-Kazimi has overcome all obstacles regarding the formation of his cabinet, after facing major challenges, especially among the seven Shiite forces.”

And, she added, “Al-Kazemi has become just around the corner from the passing of his government after the differences were filtered by 80% of those forces, as well as the political forces of the Sunni and Kurdish components.”

Al-Dulaimi explained that “confirmed information obtained indicates that Al-Kazemi will submit the request to hold the voting session, accompanied by a list of government names and the government program tomorrow, Thursday, to Parliament, and fixing next Sunday a deadline for the session.”

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Harambe:  CNBC: Oil jumps more than 20% on hope economy will reopen sooner than expected

(4/29/20)

Oil prices jumped more than 25% on Wednesday following a report that showed a smaller-than-expected build in U.S. inventories, and on hopes that the economies will re-open sooner-than-expected.

West Texas Intermediate for June delivery surged 26.4%, or $3.26, to trade at $15.60 per barrel, while international benchmark Brent crude traded 11.6% higher at $22.84.

The surge higher came after data from the American Petroleum Institute showed that U.S. crude inventories jumped by 10 million barrels in the week to April 24, to 510 million barrels. That was lower than analysts’ expectations of a build of 10.6 million barrels, according to estimates from Reuters.

Official data from the U.S. Energy Information Administration will be released at 10:30 a.m. ET.

“Oil prices rose on Wednesday morning as traders cling to potentially positive indications that the demand-supply gap may somewhat become smaller soon,” Rystad Energy’s global head of oil markets Bjornar Tonhaugen told CNBC.

“Overall we need official announcements for cuts or economies reopening for prices to stabilize. Expect a lot of volatility and price swings either way in coming days as bullish and bearish traders weigh their hopes and fears in a market that is desperate to find something to hang on,” he added.

Oil prices swayed wildly on Tuesday between gains and losses as investors continue to keep an eye on depleting crude storage space amid a dearth in demand. The coronavirus pandemic, which has forced countries around the world to shut their economies temporarily as people are told to stay home, has reduced global demand for crude by as much as a third, according to some estimates.

https://www.cnbc.com/2020/04/29/oil-markets-us-crude-inventories-coronavirus-in-focus.html