MONDAY MATTERS | News Worth Knowing August 31st
News and topics that will shape the week ahead:
The United States and Venezuela announced a 25-year deal where U.S.-based oil companies will have the rights to develop Venezuela’s oil reserves. At 65 billion, Venezuela has the world’s largest proven oil reserves. In the long term, the successful development and implementation of this plan will reduce reliance on Middle Eastern oil.
Yesterday evening, the U.S. struck Iranian missile launchers on Larak Island, a territory of Iran. In response, Iran launched missiles at U.S. bases in Jordan, but the majority were thankfully intercepted. With Treasury Secretary Bessent’s economic D-Day underway, expect war-related hostilities to increase in the weeks ahead.
Today and tomorrow are the G20 Finance Ministerial meetings, where the central bank heads and finance ministers of the world’s largest economies will meet. Considering the volatility in foreign exchange and bond markets lately, these meetings will carry greater importance than usual.
