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September 18th - The Director of the Africa Centres for Disease Control and Prevention (Africa CDC), Kassia, stated on the 17th that current data is insufficient to confirm that the current Ebola outbreak in the Democratic Republic of Congo (DRC) has peaked, and the epidemic remains uncontrolled. Kassia said at an online press conference that while the overall epidemic curve in the DRC has slightly declined, this trend is still unstable. According to the latest epidemic report released by the DRC Ministry of Health, as of the 15th, the country had reported a cumulative total of 7,404 confirmed Ebola cases, with 3,577 deaths, resulting in a case fatality rate of 48.3%. The outbreak has affected 62 health districts in 7 provinces, with Ituri Province accounting for approximately 77.7% of the national total.On September 18th, the State Administration for Market Regulation (SAMR) strengthened its systematic approach and focused on promoting the formulation of a batch of national standards for core quantum devices. Among these, two new national standards were released: the "Technical Specification for Quantum Compressed Light Source" and the "Performance Testing Method for Periodically Polarized Lithium Niobate Quantum Frequency Conversion Devices." Four new national standard projects were initiated: the "Technical Specification for Continuous Variable Optical Quantum Entanglement Source in Quantum Technology," the "Performance Requirements and Testing Methods for Diamond Nitrogen-Vacancy Color Center Materials for Power Measurement," and the "Performance Characterization and Measurement Methods for Solid-State Spin Quantum Magnetometers in Quantum Measurement." Several other standards under development, including the "Performance Characterization and Measurement Methods for Two-Photon Polarized Entanglement Source in Quantum Technology" and the "Performance Characterization and Measurement Methods for Ultra-High Reflectivity Optical Thin Films in Quantum Technology," are progressing steadily, accelerating the construction and improvement of my countrys national standard system for quantum technology. Going forward, the SAMR (National Standardization Administration) will continue to accelerate the development of national standards for two-photon polarized entanglement sources and ultra-high reflectivity optical thin films, gradually improving the standard chain for core quantum devices and key equipment, and continuously strengthening the engineering and technical standard foundation for the quantum industry.On September 18, South Korean President Lee Jae-myung stated on Friday that South Korea will not deploy any military forces to the Middle East that could draw it into a conflict related to a war with Iran. However, at a press conference, Lee indicated that the South Korean government is considering whether to expand its role in ensuring navigational safety in the Strait of Hormuz.On September 18, at the Huawei Connect 2026 conference, Zhou Yuefeng, Director of Huawei and CEO of Huawei Cloud, announced that the Lingqu Ascend 950 intelligent computing cluster cloud service will be commercially available in the domestic market on September 30 and in the global market on November 30.On September 18th, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." An official from the Ministry of Housing and Urban-Rural Development stated that the key to improving peoples living standards is building "good houses." What kind of good houses should be built? Safe, comfortable, green, and smart. How to build good houses? Promote the entire chain and the entire life cycle from good standards, good design, good materials, good construction, and good operation and maintenance. What are good standards? We believe that standards that the people consider good are good standards. The official stated that they have carefully listened to the publics opinions on improving living conditions and have raised housing quality requirements in 14 aspects.

China COVID-Induced Oil Price Decline May Drive the Price of a Barrel Below $85

Aria Thomas

Sep 02, 2022 11:06

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The picture for oil bulls is unfavorable, and things could worsen before they improve.


New COVID-related lockdowns in China have prolonged the oil selloff for a third day in a row, boosting the likelihood that U.S. crude will go below $85 per barrel for the first time since late January.


Brent crude, the global benchmark for oil traded in London, closed at $92.36 a barrel, down $3.28, or 3.4%, from its session low of $93. Brent prices fell 2.8% on Wednesday and 5% on Tuesday, respectively.


West Texas Intermediate, the standard for U.S. crude traded in New York, finished at $86.61, down $2.94, or 3.3%. Tuesday's decline was 5.5%, while Wednesday's decline was 2.3%.


Thursday's WTI session low was $86, just $1 away from breaching the $85 support.


"From a technical perspective, a break below $85 might drive WTI to test the monthly $82 Middle Bollinger Band," said Sunil Kumar Dixit, chief technical strategist at SKCharts.com. In the case of a fall, the price might reach $77.98 before resuming its climb to the $97-$99 resistance zone.


Again, this is a technical point of view. Obviously, from a broader view on oil, the fundamentals must also be considered," noted Dixit.


Even prior to the China COVID scandal, the fundamentals were at best unclear.


Wednesday, when traders anticipated the oil producing coalition to announce production cuts, OPEC+ gave a more positive demand outlook.


OPEC+ reduced its oil surplus prediction for 2022 to 400,000 barrels per day and predicted a shortage of 300,000 barrels per day for 2023.


The monthly meeting of the 23-nation OPEC+, comprised of the original 13 members of the Saudi-led Organization of Petroleum Exporting Countries and its 10 Russia-led allies, will be held on September 5. If it does not announce any reductions at that time, oil prices may continue to decrease due to fears of weak seasonal demand beginning on September 22.


The White House said on Thursday that Vice President Joe Biden met with Israeli Prime Minister Yair Lapid on Wednesday regarding the revival of a 2015 nuclear agreement that is fervently desired by Iran but fiercely opposed by Israel. This knowledge contributed to Thursday's rise in oil prices. The prospective easing of U.S. sanctions on Iranian oil, which may enhance crude exports by up to one million barrels per day, is at stake.


As reported by Reuters on Thursday, Asia's factory activity dropped in August as China's zero-COVID regulations and cost limits continued to damage businesses, dimming the outlook for the region's weak recovery.


Baoan, the most populous district of Shenzhen, suspended large-scale events and indoor entertainment for three days as the number of COVID-19 cases continued to rise.

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