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According to the Wall Street Journal, sources familiar with the matter revealed that California is expected to require Paramount to divest some of its cable television channels and pledge to keep its film studios independent from Warner Bros. ahead of the merger between Paramount and Warner Bros.As of 10:23 on August 24, in terms of capital inflows into domestic futures main contracts, Shanghai Gold 2610 saw an inflow of 1.004 billion yuan, Shanghai Copper 2610 saw an inflow of 933 million yuan, and Lithium Carbonate 2701 saw an inflow of 856 million yuan. In terms of capital outflows, CSI 1000 2609 saw an outflow of 7.601 billion yuan, CSI 2609 saw an outflow of 4.226 billion yuan, and CSI 2609 saw an outflow of 3.337 billion yuan.On August 24th, Futures News reported that Indonesian Coordinating Minister for Economic Affairs Airlangga Hattato stated that the government will not impose export taxes or windfall profits taxes on key commodities such as coal and nickel this year. Airlangga made these remarks in an interview at his office on Friday (August 21, 2026), stating, "The windfall profits tax has not been implemented this year." When asked if it would be implemented next year, he responded that the relevant policy had not yet been discussed in detail. Previously, driven by rising coal prices due to escalating conflicts in the Middle East, the government had actively promoted the imposition of export taxes on these commodities. Finance Minister Purbaya Yudi Sadeva previously stated that the implementation plan for a coal export tax was still under discussion, but also pointed out that the government expected to obtain additional revenue through revisions to the RKAB in 2026. Purbaya stated that President Prabowo had instructed Energy and Minerals Minister Bahriel to revise the 2026 coal production quotas. He added that increased production due to rising coal prices would bring additional revenue to the country, but did not disclose the specific amount. Export taxes are an international trade tax tool levied by Indonesia on specific exported goods, and the revenue has fluctuated in recent years with changes in global commodity prices and export policies.Gold prices rose to their highest level in over three months on Monday, supported by a weaker dollar, as market focus shifted to key US inflation data and Federal Reserve Chairman Warshs speech later this week. Tim Waterer, chief market analyst at KCM Trade, said gold started the week strongly, regaining buying support, primarily driven by a weaker dollar. The market is also paying closer attention to signals that rising yields may signal underlying economic pressures and policy uncertainty. The market will be watching the July PCE price index and Warshs speech at the Jackson Hole symposium this week for new clues about the interest rate outlook. "Traders will be closely watching for any changes in his tone regarding the policy path and how that rhetoric resonates with recent bond market movements. A balanced or cautious tone, leaving room for policy flexibility, could open the door for further gains in gold prices."On August 24th, the Cyberspace Administration of China (CAC) launched a special campaign to "clean up the online entertainment livestreaming scene and rectify the chaos." The CAC has focused on prominent issues such as vulgar and inappropriate content, rules designed to incentivize tipping, and infringement on the rights of minors in entertainment livestreaming. It has continuously intensified its crackdown on illegal and irregular entertainment livestreaming, and has so far dealt with over 7,200 illegal livestreaming rooms and severely punished over 2,200 illegal accounts. Simultaneously, it has guided websites and platforms to remove and dispose of a number of problematic MCN (Multi-Channel Network) agencies involved in livestreaming, issued 17 governance announcements, and publicly exposed typical cases to create a strong deterrent. As a result of the campaign, vulgar content in entertainment livestreaming has significantly decreased, and illegal behaviors such as inducing tipping have been effectively curbed, leading to a marked improvement in the livestreaming ecosystem. Moving forward, the CAC will continue to maintain a high-pressure, strict regulatory stance, intensify its investigation and punishment of illegal accounts and agencies in entertainment livestreaming, guide and urge websites and platforms to improve their entertainment livestreaming management mechanisms, enhance their technical governance capabilities, continuously optimize functions and gameplay, and promote a healthy, orderly, and clean entertainment livestreaming ecosystem.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

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Benchmark Brent oil declined on Thursday, while West Texas Intermediate (WTI) crude remained unchanged, hovering at two-month lows due to uncertainty about the degree to which a proposed G7 restriction on the price of Russian oil would limit supply.


A larger-than-anticipated rise in gasoline inventories in the United States and an expansion of COVID-19 limitations in China also knocked on oil prices.


At 15.15 p.m. ET (2015 GMT), Brent oil prices decreased 29 cents, or 0.3%, to $85.12 per barrel, while U.S. WTI crude futures decreased 2 cents, to $77.96 per barrel.


Due to the Thanksgiving break in the United States, trade volumes were quite low.


The announcement on Wednesday that the expected price ceiling for Russian oil may surpass the current market level triggered a decrease of about 3 percent for both benchmarks.


European Union nations remained divided over what level to cap Russian oil prices to limit Moscow's ability to pay for its battle in Ukraine without causing a global oil supply shock; if positions converge on Friday, more conversations are possible.


A European official claimed that the G7 is discussing a cap of $65-$70 per barrel for Russian oil transported by sea, but European Union member states have not yet reached an agreement on a price.


A higher price ceiling might encourage Russia to continue selling its oil, decreasing the possibility of a global oil supply shortage.


According to two sources, several Indian refiners are discounting Russian Urals crude by between $25 and $35 per barrel compared to the worldwide benchmark Brent oil. Urals is Russia's principal crude export.


Despite the obstacles, Bart Melek, global head of commodities market strategy at TD Securities, is rather optimistic about oil. "The Russian price ceiling is another aspect that contributed to the current price fall," he stated.


The Energy Information Administration (EIA) said on Wednesday that gasoline and distillate inventories in the United States climbed substantially during the previous week. [EIA/S]


In contrast, oil stockpiles decreased by 3.7 million barrels to 431.7 million barrels in the week ending November 18, despite a Reuters survey predicting a reduction of 1.1 million barrels.


China reported the highest daily number of COVID-19 cases since the outbreak began over three years ago on Wednesday. Local officials intensified measures to remove the breakouts, raising investor anxiety over the economy and demand for fuel.

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