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Stocks Jump On Rumors That Bannon Firing Is Imminent

August 18, 2017 Tyler Durden 0

A decision is reportedly imminent from White House chief of staff John Kelly on whether Steve Bannon will keep his job, according to administration officials with knowledge of the situation. Axios reports that man West Wing officials are now asking “when,” not “if,” Bannon goes.

Axios points out that Bannon, who has run afoul of Trump in the past, is now suspected by the president of leaking about his West Wing colleagues.

Trump resents the publicity Bannon has been getting as mastermind of the campaign.

 

Many West Wing officials are now asking “when,” not “if,” Bannon goes.

 

Chief of Staff General John Kelly has been reviewing Bannon’s position.

 

A recent deluge of media coverage of Bannon – including Bannon’s explosive conversation with the American Prospect – have not escaped either the president’s or Kelly’s attention.

One White House source twists the knife:

“His departure may seem turbulent in the media, but inside it will be very smooth. He has no projects or responsibilities to hand off.”

Interestingly, the market is bouncing on these headlines (presumably this would be a win for Cohn).

Which is odd because the actual report contains absolutely no additional information at all that Bannon may or many not fired.

However, Axios does note that there are a number of reasons why Bannon may survive…

Trump often sends mixed signals about his personnel plans, and makes decisions — both to keep and dismiss people — on whim.

 

Bannon, with his close connection to the president’s base, is the one West Wing official who could do authentic damage to Trump on the outside.

 

We’re told that Bannon’s friendship with the billionaire Mercer family, who has been an important Trump ally, is a factor in the president’s decision and could be part of the strategist’s survival package.

One Bannon friend warned: “Get ready for Bannon the barbarian.”

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The Danish and Turkish Straits are critical to Europe’s crude oil and petroleum trade

August 18, 2017 Today in Energy 0

The Danish Straits and Turkish Straits, together transited by a combined volume of more than 5 million barrels per day (b/d) in 2016, are important chokepoints for Europe’s crude oil and petroleum liquids supply. Nearly 59 million b/d of global petroleum and other liquids production moved on maritime routes in 2015.

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