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FedEx (FDX.N) is suing the U.S. government, demanding a full refund of emergency tariffs.February 24th - According to the Wall Street Journal, the Trump administration is considering new "national security tariffs" on six industries. Sources familiar with the matter revealed that the tariffs under consideration could cover industries such as large batteries, pig iron and iron fittings, plastic pipes, industrial chemicals, and power grid and telecommunications equipment. These tariffs would be imposed under Section 232 of the Trade Expansion Act of 1962. The new tariffs on these six industries would be implemented separately from the new 15% global tariff. It is unclear when the investigations into these tariffs, conducted by the Department of Commerce, will be announced, or when they will ultimately be implemented. Section 232 requires a lengthy investigation before tariffs can be imposed, but once implemented, the president can unilaterally amend it.February 24 - On February 23 local time, the Qatari Ministry of Foreign Affairs stated that the foreign ministers of 19 countries, including Qatar, Saudi Arabia, Egypt, Jordan, Turkey, Palestine, Brazil, France, Denmark, Finland, Iceland, Indonesia, Ireland, Luxembourg, Norway, Portugal, Slovenia, Spain, and Sweden, along with the secretaries-general of the Arab League and the Organization of Islamic Cooperation, issued a joint statement strongly condemning the Israeli security cabinet for approving a series of decisions that drastically altered its policies in the West Bank, strengthened its control over the West Bank, and accelerated the expansion of Jewish settlements.JPMorgan CFO Barnum: The final Basel III plan is unlikely to significantly change capital requirements in any direction.Musk: Anthropic stole training data on a massive scale and paid billions of dollars in compensation for it. This is an indisputable fact.

Look at $82.57 on NYMEX crude oil

Oct 26, 2021 11:03

On Wednesday (October 13), international oil prices fluctuated within a narrow range at a high level. There is concern that soaring coal and natural gas prices in Asia and Europe will stimulate inflation and slow global growth, thereby reducing oil demand. The dollar is near a one-year high, which also put pressure on oil prices.

GMT+8 13:56, NYMEX crude oil futures rose 0.01% to 80.65 US dollars/barrel; ICE Brent crude oil futures rose 0.05% to 83.46 US dollars/barrel.


The International Monetary Fund (IMF) on Tuesday (October 12) lowered the growth prospects of the United States and other major industrialized countries, and stated that continued supply chain disruptions and price pressures hindered the recovery of the global economy from the new crown epidemic.

The IMF is concerned that the momentum of economic growth has weakened, which has increased the uncertainty in the oil market. However, oil observers still focus on whether the soaring prices of natural gas and coal will lead to an increase in demand for petroleum products for power generation.

An analyst from the Research Department of ANZ Bank said in a research report: "More and more people expect that the high prices of natural gas and thermal coal may boost the demand for alternative fuels such as diesel and fuel oil."

On the daily chart, U.S. oil is in an upward ((3)) wave starting from $61.74, and the upper resistance is looking at the 38.2% target of $88.66. On the hourly chart, oil prices are in five upward waves starting from $74.97, and the upper resistance looks at the 161.8% target of $82.75. Wave 5 is a sub-wave of the upward (1) wave that started at $61.74. (1) Waves are the sub-waves of ((3)) waves.

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