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Saudi government data: Saudi Arabias imports fell 0.2% in November.Saudi government data: Saudi non-oil exports grew by 20.7% in November.Saudi government data: Saudi Arabias exports grew by 10.0% in November, with oil exports increasing by 5.4%.On January 25th, according to 9to5mac, an online tech media and blog focusing on Apple news, Apple (AAPL.O) agreed to settle a class-action lawsuit early last year alleging that Siri "illegally and intentionally recorded conversations." The issue dates back to 2019, and Apple initially denied any wrongdoing. While Apple has since worked to improve Siris privacy protections, it still decided to resolve the matter through a settlement. Claims for compensation opened in the middle of last year, and users have begun receiving payments. To be eligible for compensation, users had to have purchased a Siri-enabled Apple device between September 17, 2014, and December 31, 2024, and experienced an "accidental Siri activation." Each user could file claims for up to five devices. Although the $95 million settlement was initially expected to pay a maximum of $20 per device (with a single-person cap of $100), the final actual payout was approximately $8.02 per device (with a single-person cap of $40.10).On January 25th, Apple launched promotional activities through some of its direct sales channels. Among them, the iPhone Air, which has only been on the market for three months, has an official price reduction of 2000 yuan, with a maximum discount of 2500 yuan after the national subsidy. On the 25th, customer service at the Apple Stores official Tmall flagship store responded that only the iPhone 16 series is discounted on the official Apple website, and only this store is offering a discount on the iPhone Air through direct sales channels. The customer service representative also suggested adding the product to the shopping cart first. "Everyones very quick during the promotion." Furthermore, the customer service representative stated that this promotion is limited in quantity. Approximately 13,000 iPhone Air units are participating in the promotion.

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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