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March 16th news: According to the Russian Ministry of Defense on the afternoon of the 16th local time, the Russian Aerospace Forces successfully launched an "Angara-1.2" light carrier rocket at the Plesetsk Cosmodrome in Arkhangelsk Oblast, carrying several satellites for use by the Russian Ministry of Defense.On March 16, according to @Customs, recently, some online platforms spread the news that "Customs will delay inspection of imported coal from April 1, which may lead to extended customs clearance time and further increase the possibility of reduced import volume", which has aroused the attention and discussion of the industry. Customs confirmed that this information is untrue. We remind all enterprises and related parties not to believe and spread unconfirmed news to avoid unnecessary troubles and losses.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote the transformation of the whole society to be suitable for the elderly, support local pilot exploration, and promote the installation of elevators in multi-story buildings and the development of elderly dining services. Actively develop industries such as anti-aging and silver tourism to release the potential of the silver consumption market. Encourage the development of community embedded childcare, employer-run childcare and integrated childcare services. Support and regulate social forces to develop elderly care and childcare services, and improve the price formation mechanism of elderly care services. Encourage places with conditions to provide site support and operation subsidies to universal childcare institutions based on actual conditions.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to develop inbound consumption. Orderly expand the scope of unilateral visa-free countries, optimize and improve regional entry visa-free policies. Launch more high-quality inbound tourism routes and services, improve the convenience level of foreign tourists in China, and cultivate international medical, exhibition and other markets. Deepen the cultivation and construction of international consumption center cities. Support the opening of duty-free shops in urban ports that meet the conditions. Support more high-quality merchants to become departure tax refund stores, and promote the "buy now, refund now" service measures for departure tax refunds.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote ice and snow consumption. Launch and implement the ice and snow tourism promotion plan, organize and carry out ice and snow consumption season and other consumption promotion activities, build a number of ice and snow theme high-quality tourist attractions and resorts, and support ice and snow resource-rich areas to build world-renowned high-quality ice and snow tourism destinations. Encourage all regions to enrich the supply of ice and snow venues and consumer products according to time and place.

NYMEX crude oil expected to rise to US$80.92

Oct 26, 2021 11:00

On Friday (October 8), international oil prices rose, with a cumulative increase of nearly 5% this week. The reason is that there are signs that some industries have begun to shift their fuel from high-priced natural gas to oil, and people doubt whether the U.S. government will move from its strategic reserves. To release oil. Look at $80.92 on NYMEX crude oil.

GMT+8 13:55, NYMEX crude oil futures rose 1.59% to 79.50 US dollars / barrel; ICE Brent crude oil futures rose 1.42% to 83.11 US dollars / barrel.


Commonwealth Bank of Australia analyst Vivek Dhar said in a report: "Oil prices have risen again after the U.S. Department of Energy stated that it has no plans to use the U.S. Strategic Petroleum Reserve to cool the hot oil market at this time."

In general, the increase in oil prices this week was driven by the surge in natural gas prices, the power industry was forced to switch to oil power generation, and the Organization of Petroleum Exporting Countries and Russia-led partners (collectively referred to as OPEC+) decided to maintain the current monthly increase of 400,000 barrels. /Day plan.

ANZ Bank Commodity Analyst said in a report: “Accelerating the conversion of natural gas to oil may increase the demand for power generation. Winter in the northern hemisphere is coming.” He added that when winter comes, it includes diesel and heating. U.S. distillate stocks, including oil, are at their lowest level since 2000.

However, there is still uncertainty about the soaring natural gas price and the extent to which the power industry will increase oil demand. JPMorgan Chase analysts pointed out that they have not heard of the large-scale switch to oil power generation in the European power sector. "This means that under normal winter conditions, the estimated demand for natural gas conversion of 750,000 barrels of oil equivalent per day may be extremely exaggerated. "

On the daily chart, U.S. oil is in an upward ((3)) wave that started from $61.74 and broke through the 23.6% target of $78.37. The upper resistance looks at the $80 mark and the ((3)) wave 38.2% target of 88.66. Dollar.

On the hourly chart, oil prices are in five upward waves starting from $74.97. The upper resistance looks at the 100% target of $79.78 and the 123.6% target of $80.92. 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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