EUR/USD 1.17128
0.123%
Gold 4759.07
-0.134%
Oil 91.780
-0.169%
USD/JPY 159.233
0.162%
GBP/USD 1.34422
0.054%
GBP/JPY 214.050
0.236%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 10th, the Cyberspace Administration of China and four other departments jointly released the "Interim Measures for the Administration of Humanized Interactive Services Based on Artificial Intelligence." The Measures emphasize the following aspects of humanized interactive service standards: First, clarifying the main responsibility for security. Second, strengthening the full lifecycle security management of humanized interactive services. This requires clearly defining security requirements at each stage of deployment, operation, upgrade, and termination of humanized interactive services, ensuring that security measures are deployed and used synchronously with service functions to improve security levels; strengthening security monitoring and risk assessment, and promptly identifying and correcting system deviations and handling security incidents. Third, ensuring data security. This includes strengthening the management of training data and enhancing data transparency, reliability, diversity, and security; requiring the implementation of data property rights systems in accordance with the law, and taking measures such as data encryption and access control to protect the security of user interaction data; and clarifying that unless otherwise stipulated by law or with the explicit consent of the rights holder, humanized interactive service providers shall not provide user interaction data to third parties. Fourth, protecting user rights. The regulations stipulate the obligations of anthropomorphic interactive service providers to protect users personal information and privacy, requiring them to provide users with options such as copying and deleting interactive data, and to provide convenient ways to exit anthropomorphic interactive services; they also clarify that if anthropomorphic interactive services are to be terminated, users should be notified in advance or a service termination announcement should be issued in a timely manner, and stipulate the establishment of sound user appeal and public complaint and reporting mechanisms.Ukrainian negotiators believe progress has been made in reaching an agreement with Russia, which caused European defense stocks to fall, with Rheinmetall shares down 6.6% and Leonardo shares down 5.5%.Indian government officials: India has purchased energy from Russia and the United States.April 10th - The State Council Information Office will hold a regular policy briefing at 10:00 AM on Monday, April 13th, 2026. Zheng Zhe, Vice Minister of the National Health Commission, and relevant officials from the National Healthcare Security Administration will introduce the "Several Measures on Accelerating the Construction of a Hierarchical Medical System" and answer questions from reporters.April 10th - Kremlin: Special Envoy Dmitrievs visit to the US is not a resumption of peace talks in Ukraine. Dmitriev did not negotiate on the Ukraine issue; Russia wants peace, not a ceasefire. Peace can be achieved today if Ukrainian President Zelensky makes a decision. The Orthodox Easter ceasefire has humanitarian significance.

After Geopolitical Worries, Oil Sales Resume

Skylar Williams

Nov 17, 2022 15:40

75.png


Even a big drop in U.S. crude stocks does not appear to be sufficient to guarantee an increase in oil prices at this time.


Crude oil futures resumed their drop on Wednesday, as supply concerns that had supported the market in the previous session faded away.


Also striking was the dealers' disregard for weekly Energy Information Administration (EIA) inventory data.


For the week ending November 11, the EIA reported a crude inventory decrease of 5.4 million barrels, compared to the expected decrease of 440,000 barrels and the previous week's decrease of 3.925 million barrels. During the previous week, U.S. crude imports decreased by an average of 900,000 barrels per day, or more than 6.0 million barrels in total.


Nonetheless, the market remained fixated on the resumption of Russian oil exports to Hungary via the Druzhba pipeline and the rise in Covid-19 infections in China.


According to operators of oil pipelines in Hungary and Slovakia, a portion of the Druzhba pipeline was temporarily shut down for technical reasons on Tuesday, halting the flow of oil to portions of Eastern and Central Europe. Wednesday, Peter Szijjarto, the Hungarian foreign minister, announced that Russian oil supplies through the Druzhba pipeline have resumed.


After a tanker sustained minor damage off the coast of Oman on Tuesday, both New York-traded West Texas Intermediate crude and London's Brent crude rose early on Wednesday, highlighting the geopolitical dangers in the world's busiest oil shipping routes.


"Various geopolitical influences, such as an oil tanker being struck by a bomb-carrying drone off the coast of Oman and Russia tensions, are being largely ignored in favor of more bearish elements, such as weak Chinese economic data and demand," said Matt Smith, oil analyst at Kpler, in comments carried by Reuters.


The rising incidence of COVID-19 in China reduced morale following this week's easing of virus restrictions. Chinese officials shut down Peking University after discovering a single COVID case, demonstrating their unwavering commitment to the country's zero-COVID policy.


Beijing also reported over 350 new Covid cases in the past 24 hours, according to the Associated Press, which represents a negligible portion of the city's 21 million population but is sufficient to trigger localized lockdowns and quarantines under China's zero-Covid plan. This week, China recorded nearly 20,000 new cases, compared to 8,000 the week before.


Wednesday, oil's selling pressure was attributed to options expiry, which may frequently amplify market direction changes.


Despite this, WTI for December delivery finished at $85.59 a barrel, down $1.33, or 1.5%. The benchmark for U.S. crude declined by 4% week-to-date, the same as the previous week.


Brent for January delivery decreased $1, or 1.07 percent, to $92.86. After a decline of 2.6% the previous week, the global crude benchmark dropped over 3.5% for the week.


Aside from the crude decrease, the EIA's weekly statistics on fuel products were negative, with a larger-than-anticipated increase in gasoline and an unexpected increase in distillate stocks.


The Biden administration's depletion of petroleum from the U.S. Strategic Petroleum Reserve was similarly below average, at around 4 million barrels compared to summer highs of eight million barrels.

Suggestion