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On April 22, the State Administration Bureau and the Central Administration Bureau vigorously promoted the information sharing and cross-system activation and utilization of idle assets between the units under their management. The two bureaus formulated the "Idle Assets Adjustment and Sharing Plan for Central Government Agencies and State Agencies" based on the actual work of their own public property warehouses, relying on the central administrative and public institutions public property warehouse platform to achieve the "same-stage display" of idle asset information and idle asset adjustment and sharing of central government agencies and state agencies. Recently, the central administrative and public institutions public property warehouse adjusted and circulated 16 pieces of office equipment for a central unit to ensure its related work. As the "first order" of idle asset adjustment and sharing between central government agencies and state agencies, this business has achieved a "zero breakthrough" in the activation and utilization of assets between the two systems, and improved the efficiency of state-owned assets management.Futures News on April 22: Recently, crude oil prices have fallen again, mainly due to the cooling of the situation in the Middle East. The United States and a Middle Eastern country have agreed to draft a framework for a potential nuclear agreement, which may lead to the lifting of sanctions and the return of crude oil from a Middle Eastern country to the international market. Zhuochuang Information predicts that from the perspective of the oil production of a Middle Eastern country, there is still a large room for production increase. Once the restrictions are lifted, coupled with the unclear trade situation, negotiations between countries are ongoing, but China and the United States still have no effective contact, crude oil prices will continue to be under pressure.On April 22, Xintai Medical (02291.HK) announced that the companys H-shares were temporarily suspended from trading at 10:57 am on April 22, 2025.Xpeng Motors (09868.HK) saw its decline widen to 3%.On April 22, Li Bin, CEO of NIO (09866.HK), said: Any large-scale investment in the United States needs to consider policy stability; I don’t know what a stable U.S. policy is, and it’s difficult to comment on the possibility of cooperation or investment plans in the United States; we are convinced that with the decline in battery costs and the expansion of charging and battery swap infrastructure kits, pure electric vehicles are the ultimate solution.

As nervous inflation counters good demand data, oil prices tumble

Skylar Williams

Sep 14, 2022 10:44

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On Wednesday, oil prices dipped somewhat due to concerns regarding faster-than-expected U.S. economic expansion. The CPI inflation data undermined OPEC's estimate of solid demand and evidence that U.S. gasoline demand remained robust.


London Brent oil futures fell 0.3% to $93.23 a barrel, while U.S. West Texas Intermediate futures climbed 0.1% to $87.39 per barrel at 20:59 EDT (00:59 GMT). On Tuesday, both contracts decreased as stronger-than-expected U.S. inflation data strengthened the dollar and spurred a sell-off across key asset classes.


Nonetheless, encouraging signals from the Organization of Petroleum Exporting Countries (OPEC) aided in preventing further oil price drops.


Despite inflationary challenges, the cartel noted in a monthly report on Tuesday that it expects oil consumption to climb gradually in 2022 and 2023 due to the resilience of major economies.


OPEC anticipates an increase in oil consumption of 3,1 million barrels per day (bpd) in 2022 and 2,7 million barrels per day (bpd) in 2023.


The American Petroleum Institute said that gasoline inventories in the United States continued to fall for the week ending September 9, indicating that consumers were encouraged by the recent reduction in fuel prices.


While overall U.S. oil inventories grew unexpectedly, a sizable chunk of this increase is likely related to a drawdown from the Strategic Petroleum Reserve.


It is anticipated that official data from the Energy Information Administration will reflect a weekly increase in oil inventories later today. Nonetheless, gasoline inventories are expected to decline.


As investors expected that rising inflation and interest rates would have a negative effect on crude consumption, oil prices have fallen from their early-year peaks. China, the world's largest oil importer, has had a rash of COVID-related lockdowns, casting questions on the sustainability of crude demand this year.


Rising interest rates may also induce a U.S. recession, which is projected to weaken demand. In response to Tuesday's CPI news, the markets are already pricing in a series of significant interest rate hikes this year as the Fed strives to rein in inflation.


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