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On March 16, the Shanghai Headquarters of the Peoples Bank of China released a "Brief Report on Overseas Institutions Investment in the Interbank Bond Market in February 2026," showing that as of the end of February 2026, overseas institutions held RMB 3.32 trillion in interbank bonds, accounting for approximately 1.9% of the total custody volume of the interbank bond market. In terms of bond type, overseas institutions held RMB 2.00 trillion in government bonds (60.2%), RMB 0.78 trillion in policy bank bonds (23.5%), RMB 0.40 trillion in interbank certificates of deposit (12.0%), and RMB 0.14 trillion in other types of bonds (4.2%).Shell stated that despite increased oil price volatility caused by the Middle East conflict, it remains optimistic about the long-term prospects of liquefied natural gas.March 16th - Markets widely expect Federal Reserve officials to keep interest rates unchanged at this weeks meeting. Meanwhile, attention is also focused on how the Fed might respond if the consequences of the Middle East conflict contradict its policy objectives. Bank of America senior economist Aditya Bavi stated, "Currently, officials will likely indicate they remain in a wait-and-see mode as they closely monitor the rapidly evolving situation in the Middle East." Regarding the surge in oil prices, Bavi said, "They dont want to jump to conclusions. This is a supply shock. Supply shocks increase the execution risk of their mandate." In addition to the complex economic factors, this weeks Fed meeting is also overshadowed by a tense and high-impact political storm. Last week, a federal judge ruled to dismiss the Justice Departments subpoena against Powell, but US prosecutors vowed to continue their investigation into the Fed and its officials. This could disrupt the Feds expected leadership transition in May.A Reuters poll found that 14 out of 15 economists said the Swiss National Bank should increase its intervention in the foreign exchange market to curb the further strengthening of the Swiss franc against the euro.The United States and South Korea will hold talks this week on a $350 billion fund.

Oil Prices Jump $2 Due to Rising Demand in 2023

Haiden Holmes

Dec 15, 2022 11:18

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OPEC and the International Energy Agency (IEA) foresee a rebound in demand next year, and U.S. interest rate hikes are expected to moderate further in sync with decelerating inflation.


Brent crude futures closed at $82.70 a barrel, up $2.02, or 2.4%, while U.S. West Texas Intermediate (WTI) crude futures settled at $79.40, up $1.94.


Both contracts increased due to a jump in diesel futures in anticipation of cold weather at the end of the year.


The Brent contract has reverted to a backward market structure in which front-month loading barrels sell at a premium to later deliveries, signaling that oversupply concerns are decreasing.


Last week, the structure reverted to contango, with front-month deliveries becoming less expensive than later-loading months.


A leak and outage of TC Energy (NYSE:TRP) Corp's Keystone Pipeline, which transports Canadian petroleum to the U.S., have boosted oil prices.


According to officials, cleanup will take several weeks.


Last week, U.S. crude oil stockpiles increased by more than 10 million barrels, the highest since March 2021, due to releases from the Strategic Petroleum Reserve and a fall in refinery operations. 


OPEC projects that oil consumption will climb by 2.25 million barrels per day (bpd) to 101.80 million bpd in 2023, with significant upside from China, the world's largest importer.


The IEA raised its 2023 oil demand growth projection to 1.7 million bpd, for a total of 101,6 million bpd, in anticipation of a recovery in Chinese oil consumption in 2024, after a decline of 400,000 bpd in 2022.


According to the figures, road and aviation traffic in China have rebounded.


"The climate remains conducive for triple-digit prices... Recent volatility gives an excellent entry point. Next quarter, balances may be looser, but by 2Q, a new price rally will be upon us "Oswald Clint, a Bernstein analyst, noted.


The Federal Reserve lifted its benchmark overnight interest rate by 50 basis points on Wednesday, a drop from the 75-basis-point increases it adopted at its previous four policy meetings.

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