EUR/USD
1.17002
-0.102%
Gold
4569.28
-0.606%
Oil
100.880
3.485%
USD/JPY
159.769
0.097%
GBP/USD
1.35017
-0.117%
GBP/JPY
215.722
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Real-time News
Alibaba (09988.HK) will announce its results for the quarter ending March 2026 and fiscal year 2026 on May 13.On April 29th, Julius Baer analyst Norbert Rücker stated that the challenge facing oil-producing countries is not the UAEs exit from OPEC, but rather a broader structural shift in the oil market. He added that US shale oil and South American deepwater oil illustrate a new landscape in the oil market characterized by stagnation and intensified competition. The UAEs exit from OPEC aligns with the analysts long-term view that ample supply and increased competition will anchor oil prices at high levels above $60 per barrel. The geopolitical consequences of the exit remain unclear. However, Rücker stated that this move comes at a time of larger-scale restructuring in regional relations and "may help find solutions to ongoing conflicts."On April 29th, ANZ Bank stated in a report that the UAEs exit from OPEC will have a limited short-term impact on oil prices, as prices are driven more by geopolitical, inventory, and logistical factors than by institutional changes. Furthermore, ANZ noted that even without OPEC+ production targets, the UAEs ability to convert production capacity into exportable supply will still be affected by the operating environment around key chokepoints in the Gulf region.Futures News, April 29th: Greige Fabric Inventory: As of April 29th, greige fabric weaving inventory was approximately 32.7 days. The industry generally maintains a cautious approach to greige fabric inventory control, and due to volatile raw material prices, purchases are proceeding cautiously, resulting in a continued decline in greige fabric inventory. Both domestic and international trade orders are weak, and factories are currently primarily focused on fulfilling previous orders, hence the operating rate this week dropped to 61.8%. Greige Fabric/Material Trading: According to data monitoring and analysis of feedback from 350 price-collecting units, the Ministry of Commerces China•Shengze Silk and Chemical Fiber Index continued to rise on April 29th, with the chemical fiber fabric price index closing at 101.68 points, an increase of 0.05 points compared to the previous trading day.Barclays said late Tuesday that the UAEs decision to withdraw from OPEC will enable the country to achieve faster oil supply growth after emerging from the current crisis. As OPECs fourth-largest oil producer, the UAE announced on Tuesday that it will withdraw from the organization on May 1. Barclays stated that this announcement assures potential investors that the countrys economic recovery will not be constrained by OPEC+ production quotas. The bank added that tanker traffic in the Strait of Hormuz remains sluggish, with the three-day moving average of crude oil and product tankers, including those carrying liquefied petroleum gas (LPG), around 3-4 vessels, a decrease of approximately 95% compared to last year.
