EUR/USD 1.09176
0.604%
Gold 3145.83
0.436%
Oil 69.578
-1.194%
USD/JPY 147.660
-1.086%
GBP/USD 1.30597
0.409%
GBP/JPY 192.842
-0.629%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 3, the Australian bond market has experienced a dovish turn since the White House announced its new tariff agenda. IG market analyst Tony Sycamore said that the market has priced in an 85% chance that the Reserve Bank of Australia will cut interest rates by 25 basis points in May. Subsequent rate cuts are expected in August and November, with a cumulative rate cut of 75 basis points by November. He added that US tariffs have far exceeded expectations, increasing the likelihood of a trade war and recession in the United States. He also said that since goods from countries such as Vietnam are now effectively shut out of the United States, cheap goods are expected to flood other Asian markets.Japan’s Chief Cabinet Secretary Yoshimasa Hayashi declined to comment when asked about the possibility of retaliation against U.S. tariffs.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We believe that the recent US tariff measures may have a significant impact on the multilateral trading system, and we strongly call on the United States to exclude Japan from these measures.Japanese Economy, Trade and Industry Minister Yoji Muto: The online meeting with US counterparts was held before the tariffs were announced.Japanese Minister of Economy, Trade and Industry Yoji Muto: We have told the United States that tariff measures may hinder Japanese companies investment in the United States.

Crude Oil Supplies in the United States Grow After the Release of Strategic Reserves

Aria Thomas

Apr 14, 2022 09:30

C2.png


"The significant increase in crude oil inventories is certainly the most significant factor," said John Kilduff, a New York-based partner at Again Capital LLC. "However, the concurrent declines in gasoline and distillate fuels countered any negative input from the crude data."


The US will release 180 million barrels from its reserves over the next six months in an attempt to cool soaring oil prices caused by a supply shortage caused by Russia's invasion of Ukraine in February. Russia is the world's second biggest exporter, after only Saudi Arabia, with daily crude exports ranging between 4 and 5 million barrels.


Analyst estimates vary, but the shortage is expected to be between 1 and 3 million barrels per day. The United States' output is increasing, but not quickly enough to offset all of those losses. The US Energy Information Administration projected Tuesday that the United States' production would increase by 820,000 barrels per day to 12.01 million bpd in 2022.


Gasoline inventories in the United States declined by 3.6 million barrels, contrary to estimates for a 388,000-barrel decline.


Stockpiles of distillate fuel, which includes diesel and heating oil, decreased by 2.9 million barrels to 111.4 million barrels, the lowest level since 2014.


Diesel and jet fuel inventories have been declining as a result of robust international demand and stable economic activity. This week, product exports increased to a record 6.8 million barrels per day.


Crude oil refinery runs decreased by 425,000 barrels per day, while refinery utilization rates decreased by 2.5 percentage points to 90% of total capacity.

Suggestion