EUR/USD 1.15352
-0.103%
Gold 4008.42
0.791%
Oil 59.769
0.626%
USD/JPY 153.368
0.203%
GBP/USD 1.31063
-0.237%
GBP/JPY 201.013
-0.017%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The onshore yuan closed at 7.1225 against the US dollar at 16:30 on November 7, down 6 points from the previous trading day.Japans Ministry of Economy, Trade and Industry: Overseas energy projects are valuable potential energy sources outside the Middle East.Japans Ministry of Economy, Trade and Industry: Overseas projects, including Russias Sakhalin-1 project, are crucial to energy security.On November 7th, Federal Reserve Chairman Williams stated on Friday that the Feds decision last week to halt tapering its bond holdings may soon necessitate expanding its balance sheet through bond purchases. Williams stated, "The next step in our balance sheet strategy will be to assess when reserve levels will move from the current slightly above adequate to adequate." He added that once this occurs, "a gradual asset purchase process should begin." Williams also stated, "Based on recent sustained pressures in the repo market and other indications that reserves are transitioning from adequate to slightly above adequate, I expect we will soon reach adequate reserve levels." Some analysts predict that the Fed may begin expanding its asset size through bond purchases in the first quarter of next year. Williams cautioned that the exact timing is difficult to predict. "I am closely monitoring various market indicators related to the federal funds market, the repo market, and payments to help assess the state of reserve demand." He also cautioned that maintaining appropriate liquidity through bond purchases is not a stimulus measure.The Hang Seng Index closed down 244.07 points, or 0.92%, at 26,241.83 on Friday, November 7; the Hang Seng Tech Index closed down 106.86 points, or 1.8%, at 5,837.36; the H-share Index closed down 88.41 points, or 0.94%, at 9,267.56; and the Red Chip Index closed up 7.11 points, or 0.17%, at 4,180.98.

Despite an increase in US official oil stock statistics, WTI extends its rebound to near $79.00

Daniel Rogers

Dec 30, 2022 11:20

 截屏2022-12-29 下午4.54.13_1024x576.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have continued their recovery move over the important resistance level of $78.50 during the Tokyo morning session. As a result of supply concerns due to a prohibition on oil sales from Russia to G7 nations and the European Union and anticipation of a recovery in demand predictions in China as a result of reopening steps, the oil price experienced buying activity around $77.00.

 

Russia has no intention of supplying fossil fuels at prices lower than those prevailing on the market, therefore oil supply is projected to remain a key concern. Without a question, western nations are actively seeking alternatives to Russia to meet their oil demand, but their reliance on Russian oil will keep them in agony in the medium run.

 

Meanwhile, the sheer velocity of reopening steps by the Chinese government in Beijing has caused short-term chaos owing to a sharp increase in the number of infections; however, Covid-19 may have reached its peak and the economy will restore its forward momentum.

 

According to a letter from Goldman Sachs economists, "For oil prices, we remain bullish on oil prices in the immediate future given the possibility for increasing China demand, and reduced supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

 

The United States Energy Information Administration (EIA) stated on Thursday, for the week ending December 23, that the oil price rebounded following a short decline due to an increase in oil stockpiles. The official US agency reported an increase of 0.718,000 million barrels in oil inventories, whereas the market had anticipated a decrease of 1.52 million barrels.

Suggestion