Oil prices rise
Oil prices are rising due to the reduction in US oil inventories, as well as because of Asian weak data.
Reducing inventory was due to "increasing the activity of processing companies, as well as the production decline in the United States, which helped to reduce the excess fuel on the market", - said the report from Phillip Futures.
Some experts believe that the oil market has reached a critical point after the annual fall, in connection with which manufacturers have begun to reduce the level of oil production.
"Oil production in countries that are not members of OPEC, except the United States, has reached its maximum limit and begins to decline due to the reduction of investments", - says the report from Bernstein Research. In their view, production in such countries by the end of this year will be decreased by 400 mln barrels per day.
Should be noted that in the focus of the market is the Fed's two-day meeting, which will end today, and where it will be decided on the increase in interest rates. If the decision will be in favor of an increase, the prices of oil will fall amid rising dollar.
By 8:55 Brent oil futures gained 20 cents to $ 49.95 a barrel, while WTI futures rose by 7 cents to $ 47.22.
Luxemburg’s Altice is buying Cablevision (NYSE:CVC) for $17, 7 Billion
One of the most successful cable operators in America, Cablevision, is going to be sold to a European telecommunications company Altice NV (AMS:ATCA). Cablevision is providing internet and cable to more than 3 million clients, which are mostly located in New York and around. Except this aspect of business Cablevision also owns the Newsday newspaper and some local cable news channels.
The acquisition is estimated in $17, 7 billion including the debt. The boards of both companies have already approved the deal. In the announcement made by Altice is told that the deal is to be closed in the first quarter of 2016. As soon as the news about the deal reached the ears of investors, the shares of Cablevision have grown by 16% to $33. 12.
Altice is not planning to stop on Cablevision, a source familiar with matter told that the company is really interested in buying The Time Warner Cable (NYSE:TWC), yet Charter Communications (NASDAQ:CHTR) has offered higher bid for TWC. Earlier this year Altice attempted to acquire Bouygues (PARIS:BOUY) – French Telecommunication Company, but the offer worth 10 billion euro was declined.