Oil Prices Slightly Gain

March 23, 2016

Longest Aircraft in the World Prepares for First Flight

The British manufacturer Hybrid Air Vehicles announced on Monday that the world’s longest aircraft, which spans over six double-decker buses, readies to make its first flight this Spring.

Meanwhile, the 92-meter Airlander 10 flew in an event held at Cardington, Central England, where its supporters displayed vessels and claim they could stay flying for up to two weeks.

Hybrid Air Vehicles is looking forward that its helium-filled Airlander 10 will attract potential customers who desire to use it for delivery and cargo carrier, including surveillance, and communications or for leisure purposes. The air vehicle’s capacity can carry about 48 passengers.

Furthermore, the Airlander is able to take off and land vertically, which implies that a tarmac runway is no longer needed. It can also be beneficial for humanitarian missions or coastguard monitoring as it can run from areas such as open fields, deserts, ice, or water. 

The Hybrid Air Vehicles company is mostly funded by the EU grands, the U.S., and the British investments. It is scheduled to undertake another ground testing before its first flight.

Oil Prices Slightly Gain

On Tuesday, oil prices slightly increased which added gains from the prior session after reports on the U.S. crude inventories posted declines for the first time since January, and as commodity prices remained steady.

An analyst stated that oil, along with a few markets, is currently experiencing a pause phase.

Meanwhile, Iran is aiming to stop the production in order to support prices at a later date. Thus, the country considers joining other oil producers. The country is looking forward to boost its exports after Western sanctions eased in January, OPEC’s secretary general said.     

Iran is eager to boost its oil exports, after it posted declines over half during the sanctions in the disputed nuclear program of Tehran, suggesting an unsure production freeze unless its market share recovers.

Anticipated Rate Hike at April Meeting

Dennis Lockhart, the Atlanta Fed President, announced that the United States is expected to raise interest rates at the April meeting, suggesting another sign for regulators to consider allowing U.S. monetary policy to move away from a few major economies.

Interest rates were held steady during the Fed policy meeting last week, and the decision suggests more about the assurance of the recent global financial volatility which continues to ease.

Meanwhile, Lockhart stated that the economy is approaching full employment and has began reaching the 2 percent inflation target of the Fed.

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