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May 8th - Sources familiar with the matter revealed that SK Hynix is receiving enthusiastic offers from major global tech companies as they scramble to acquire memory chips. These companies are proposing investments in new production lines and funding the purchase of expensive manufacturing equipment. According to six sources, the companys clients have made several cooperation proposals to the South Korean chipmaker, including investing in the construction of dedicated memory chip production lines. Three other sources indicated that another proposal involves clients financing the purchase of equipment, such as ASMLs extreme ultraviolet lithography (EUV) machines. This equipment, used to etch circuits onto silicon wafers, is worth hundreds of millions of dollars. It is understood that the chipmaker is cautious in accepting financial commitments from clients because such deals could potentially make it dependent on specific buyers and force them to supply chips at lower prices in exchange for longer-term, more stable revenue guarantees.Sources say that chip pricing ranges and upfront payments are among the options being discussed with SK Hynix as part of long-term chip contracts; however, SK Hynix is cautious about accepting such offers due to the strong market outlook.On May 8th, US President Trump met with visiting Brazilian President Lula da Silva at the White House on the 7th. Trump said the two sides discussed many issues, including trade, particularly tariffs. Trump later posted on social media that the meeting went "very well." Representatives from both sides are scheduled to meet later to discuss certain "key issues." Further meetings will be arranged in the coming months, if necessary.Sources say SK Hynix has received investment proposals from global technology companies to invest in its chip production lines and fund the purchase of extreme ultraviolet lithography machines.The U.S. trade court ruling did not fully block Trumps 10% tariffs, but only targeted the two companies that filed the lawsuits.

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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