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The Hang Seng Tech Index surged more than 2% in the short term, with AI application stocks rising across the board. The Hang Seng Index is currently up 0.76%.U.S. State Department spokesperson: U.S. Secretary of State Marco Rubio spoke with Mexican Foreign Minister Juan Ramon de la Fuente on the 11th.On January 12th, following the recent 2026 XPeng Global New Product Launch, XPeng Motors Chairman and CEO He Xiaopeng stated in an interview that XPeng Motors core product lines, including smart cars, Robotaxi (driverless taxis), robots, and low-altitude flying cars, will go global. From 2026 to 2030, the company will fully promote globalization. He Xiaopeng explained that in terms of globalization, XPeng Motors had already entered 60 countries and regions by 2025, and will enter even more countries and regions in 2026. "We will further deepen our local R&D and local manufacturing, bringing more global models to both left-hand drive and right-hand drive markets."January 12 - The State Council Information Office will hold a press conference at 10:00 AM on Wednesday, January 14, 2026, where Wang Jun, Deputy Director of the General Administration of Customs, will introduce the import and export situation for the whole of 2025 and answer questions from reporters.On January 12th, Saul Eslake, former chief economist at Bank of America Merrill Lynch Australia, pointed out that the Trump administrations continued attacks on the Federal Reserves independence are one of the reasons for the decline in short-term interest rates while long-term bond yields are rising. Recent attacks on Powell will continue to impact global long-term interest rates, and Australia will also be affected—meaning that the countrys government debt burden may face further upward pressure.

European Refiners Benefit From Emergency Release of U.S. Oil Stocks

Haiden Holmes

May 13, 2022 09:57

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According to U.S. Customs data, ship tracking, and an industry source, at least three vessels carrying crude oil from U.S. emergency stocks set sail for Europe in April as European refiners rushed to replace Russian crude supplies.


Since Russia's invasion of Ukraine, releases from the Strategic Petroleum Reserve (SPR) have been made to combat supply shortages and halt fuel price increases. A release in the fall of 2017 was largely intended to reduce growing gasoline costs in the U.S.


The Biden administration added 180 million barrels to two smaller leaks from caves along the U.S. Gulf Coast since November. The United States has not banned exports of SPR oil, and analysts expect exports will increase.


Despite the releases, retail gasoline and diesel prices in the United States, averaging $4.40 and $5.55 per gallon, respectively, have stayed at record highs. Fuel demand is so strong According to expert predictions, the average quarterly profit per share for U.S. refiners is expected to be four times that of the first quarter.


Phillips 66 (NYSE:PSX) carried approximately 600,000 barrels of crude from the Bryan Mound cavern in Texas onto the ship Sea Holly last month. It is on route to Trieste, Italy, according to U.S. customs data and Refinitiv Eikon. A pipeline in Trieste transports crude oil to refineries in central Europe.


Last month, Atlantic Trading & Marketing (ATMI), a subsidiary of the French oil giant TotalEnergies, shipped little more than 1 million barrels of SPR crude to Rotterdam.


In April, approximately 2.25 million barrels of SPR were transferred on three vessels to Italy and the Netherlands, according to Matt Smith, lead oil analyst for the Americas at data provider Kpler.


According to government filings, ATMI has obtained at least 3.5 million barrels from the SPR, while Phillips has secured as least 10 million barrels. Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Marathon Petroleum (NYSE:MPC), and Valero Energy are additional firms that purchase SPR oil (NYSE:VLO).


Phillips 66 refuses to comment on business transactions. The ATMI did not react quickly to a request for comment.


With the ongoing release of SPR over the next few months, "exports can be anticipated," Kpler's Smith said.

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