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Leapmotor (09863.HK): In March, the company delivered 50,029 vehicles, a year-on-year increase of 35%, steadily breaking through the 50,000 mark and demonstrating strong resilience.April 1st - The State Council Taiwan Affairs Office held a regular press conference on April 1st. A reporter asked: Regarding the State Council Taiwan Affairs Offices statement that it will assist Taiwan in building a high-speed rail around the island and an east-west highway after peaceful reunification, the Mainland Affairs Council stated that related statements focus too much on material interests and have limited appeal to Taiwanese society. What is your comment on this? Spokesperson Zhang Han stated that the sooner reunification is achieved, the more beneficial it will be for Taiwans development and for Taiwanese compatriots to live a better life. The DPP authorities, for their own partisan interests, stubbornly pursue "independence" and refuse reunification, which will only deprive the Taiwanese people of their right to pursue a better life. We hope that the vast majority of Taiwanese compatriots will actively participate in the just cause of promoting the reunification of the motherland and build our common homeland into a better place.According to Hong Kong Stock Exchange documents, Yongkang Holdings Limited has submitted a listing application to the Hong Kong Stock Exchange.April 1st news: Several provinces will promote the large-scale development of hydrogen energy this year and study relevant support policies and measures: ① In 2026, the Fujian Provincial Government Work Report proposed implementing a future industry cultivation and development action, vigorously developing key areas including green hydrogen energy, and exploring diversified technical routes, typical application scenarios, and feasible business models. ② This year, Inner Mongolia will rapidly promote the pilot development of the entire hydrogen energy industry chain, including production, storage, transportation, and utilization, and carry out five tasks: improving innovation capabilities, enhancing the quality and efficiency of wind and solar hydrogen production, expanding green hydrogen demand, infrastructure construction, and strengthening the industry chain. ③ During the 15th Five-Year Plan period, Guangdong will focus on breakthroughs in key core technologies of hydrogen energy such as fuel cells and high-efficiency water electrolyzers, accelerate the cultivation of the entire hydrogen energy industry chain, and actively promote the demonstration application of hydrogen energy in transportation, industry, and energy. Related policies are still under research and formulation. ④ During the 15th Five-Year Plan period, Jiangsu Province will focus on cultivating the hydrogen energy industry and strive to create a rationally laid out, domestically leading hydrogen energy industry cluster. This year, it will actively explore various hydrogen storage and transportation methods to reduce hydrogen storage and transportation costs.On April 1st, the State Council Taiwan Affairs Office held a regular press conference. A reporter asked: Recently, Fujian Province released its first batch of landmark achievements in the construction of the Cross-Strait Integrated Development Demonstration Zone, categorized into three types: policies, projects, and platforms. Could you please provide details and outline the next steps for advancing the demonstration zones construction? Spokesperson Zhang Han stated that Fujian recently released its first batch of landmark achievements in the construction of the Cross-Strait Integrated Development Demonstration Zone. These include 7 policy-related achievements, 5 project-related achievements, and 5 platform-related achievements. The State Council Taiwan Affairs Office and the National Development and Reform Commission will continue to work with relevant departments to promote the construction of the demonstration zone with more concrete measures, greater efforts, and higher standards, supporting Fujian in taking greater strides and achieving more development in exploring a new path for cross-strait integrated development.

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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