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On January 16, Huang Qing, spokesperson for the State Energy Group, said at the groups 2025 work conference that in 2025, the reform of investment companies will be accelerated, the high-quality development of the capital market will be actively promoted, and the implementation of market value management by its listed companies will be promoted to enhance the market recognition and value realization of listed companies. Huang Qing said that this year, we will adhere to deep reforms, stimulate vitality, and strive to improve the ability to govern and promote enterprises. Focus on key tasks, improve the overall promotion mechanism of reforms, fully release the effectiveness of reforms, and form a number of landmark reform achievements. Promote the deepening and upgrading of state-owned enterprise reforms in an integrated manner, refine and deepen the "science and technology reform" and "double hundred" actions, and cultivate more reform samples. Accelerate the improvement of modern corporate governance, fully implement the two "consistent", launch a new round of charter standardization actions, deeply implement the construction and upgrading of the board of directors of subsidiaries, and deepen the reform of the "three systems".The onshore RMB closed at 7.3317 against the U.S. dollar at 16:30 on January 16, up 2 points from the previous trading day.TSMC Chairman Wei Zhejia: We expect that in the first two years, the number of new wafer launches, 2-nanometer technology will exceed the performance of 3-nanometer and 5-nanometer in the first two years.TSMC Chairman Wei Zhejia: It is predicted that the revenue of artificial intelligence accelerators will double in 2025.TSMC Chairman Wei Zhejia: Entering 2025, we expect excellent semiconductor inventories to recover to healthy levels exceeding 2024.

Despite geopolitical concerns, WTI reverses a two-day rally near $76.50, and the US Dollar falls

Daniel Rogers

Feb 27, 2023 14:27

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WTI crude oil has retreated from its previous weekly high, falling to $76.50 while posting modest losses early Monday. In doing so, black gold struggles to validate geopolitical fears emanating from Russia and fails to cheer a decline in the US Dollar amid hawkish central bank concerns.

 

However, Politico reports that the United States, the United Kingdom, and the European Union (EU) states have imposed new sanctions on Russia after a dispute between Poland and Italy delayed the process for days. Reuters reported that Russia had halted the supply of oil to Poland via the Druzhba pipeline.

 

It should be noted that the recent improvement in the developed economies' economic data has allowed their respective central banks to defend their hawkish bias and suggest further rate increases, despite the looming threat of a recession. Concerns about future poor demand present similar difficulties for energy prices.

 

The US President Joe Biden's willingness to loosen control over the Strategic Petroleum Reserves (SPR) in order to combat the oil shortage could also have an impact on energy prices.

 

Despite the most recent pullback from the seven-week high, the US Dollar's strength also exerts downside pressure on the energy benchmark.

 

American Petroleum Institute (API) and Energy Information Administration (EIA) data on oil inventories may be of interest to oil merchants. Nonetheless, the risk catalysts will receive the lion's share of attention for establishing direction. Oil investors may be encouraged by the rumors of a covert alliance between China and Russia.


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