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On March 15, in response to the illegal activities involving market supervision, such as "bleached chicken feet" and "height-increasing marketing tactics" exposed by CCTVs "3.15" Gala, the State Administration for Market Regulation quickly activated its emergency response mechanism and deployed enforcement actions. The results of the investigations will be released to the public in a timely manner.U.S. Interior Secretary Bergham: At an energy security forum in Tokyo, Asia-Pacific allies agreed to $56 billion in deals with U.S. companies. Japan wants to buy more oil from the U.S.On March 15th, according to the Chongqing Municipal Administration for Market Regulation, a Chongqing company was exposed by CCTVs "3.15" Gala for illegally using hydrogen peroxide in the production and processing of chicken feet. After the State Administration for Market Regulations working group transferred the case to the Chongqing Municipal Administration for Market Regulation, enforcement personnel from the municipal and district-level market regulation bureaus have been stationed at the company to conduct a thorough investigation. Currently, an investigation has been launched into the companys suspected illegal activities, the products involved have been seized, and the company has been urged to voluntarily recall the affected products. The Chongqing Municipal Administration for Market Regulation will work with relevant departments to investigate and punish the companys illegal activities according to law, and will also draw lessons from this case to carry out comprehensive governance of prominent food safety issues throughout the city, focusing on rectifying problems such as the use of food additives beyond the permitted scope and limits, further strengthening enterprises primary responsibility for food safety, standardizing the production and operation behavior of employees, and effectively safeguarding the publics "safety on the tip of their tongues."March 15th - At 21:22 Beijing time on March 15, 2026, my country successfully launched the Yaogan-50 02 satellite into its predetermined orbit using a Long March-6A carrier rocket from the Taiyuan Satellite Launch Center. The launch mission was a complete success. This satellite will primarily be used for national land surveys, crop yield estimation, and disaster prevention and mitigation. This mission marked the 633rd flight of the Long March series of carrier rockets.Local authorities say the fire at an oil facility in Russia’s Krasnodar Krai has been extinguished.

Oil Prices Near 2-Month Lows as Supply Concerns Ease

Haiden Holmes

Nov 21, 2022 11:27

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Oil prices remained at two-month lows Monday as supply fears abated and China's gasoline consumption and rising interest rates weighed on the market.


Brent oil futures for January slipped 28 cents, or 0.3%, to $87.34 a barrel, their lowest level since September 27.


U.S. West Texas Intermediate (WTI) oil futures for December were trading at $80 a barrel, down 8 cents. January contract fell 21 cents to $79.90 per barrel.


Brent and WTI fell 9% and 10%, respectively, to their lowest prices since September 27.


Last week, the front-month Brent and WTI crude futures spreads narrowed sharply, reflecting diminishing supply anxieties.


As refiners stockpiled ahead of the December 5 EU oil embargo, tight crude supplies in Europe loosened, putting pressure on crude markets in Europe, Africa, and the U.S.


EU's energy policy chief told Reuters that the EU plans to finish its laws by December 5, when a G7 pact to regulate Russian oil prices takes effect.


RBC Capital analyst Mike Tran said the dismal December WTI contract expiry was due to paper market selling, not physical market weakness.


"Tight global inventories don't sustain barrel excess contango," he added.


Although North Sea and West African spot market indicators are weak, they don't imply alarm.


Europe and the U.S. fought for restricted diesel barrel markets. China's diesel exports nearly doubled year-over-year to 1.06 million tonnes in October, but were lower than September's 1.75 million tonnes.


COVID-19 restrictions continue to stifle demand in the world's leading crude importer, while expected interest rate hikes elsewhere have boosted the dollar, making dollar-denominated commodities more expensive for investors.

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