EUR/USD 1.18008
0.022%
Gold 3354.60
-0.070%
Oil 65.869
-1.274%
USD/JPY 143.828
0.126%
GBP/USD 1.36737
0.283%
GBP/JPY 196.670
0.459%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japanese Senator Munetoshi Kamiya: We do not think that American rice should be imported into Japan. It is not in the national interest to make further concessions in agriculture in order to protect the automobile industry.The final UK Services PMI for June will be released in ten minutes.Japanese Senator Munetoshi Kamiya: Japan must first focus on increasing demand, which is what we have been asking the Bank of Japan to consider.July 3, traders are paying close attention to the upcoming US non-farm payrolls data for June. Economists generally expect 110,000 new non-farm payrolls, up from 139,000 in the previous month, and the unemployment rate may rise slightly from 4.2% to 4.3%. Jay Hatfield, CEO of Infrastructure Capital Advisors, pointed out that if the non-farm data is lower than expected, funds may shift from high-valuation technology stocks to value stocks. He said, "There may be uncertainty in the market. In the game between the decline of technology stocks and the rise of value stocks, since technology stocks account for 40% of the market value, it often leads to an overall decline in the market." But he added that weak data may also prompt the Federal Reserve to cut interest rates in July ahead of schedule.Moodys Ratings said on July 3 that tariffs and global trade uncertainty have increased credit risks in the Asia-Pacific region, and the company downgraded the regions sovereign credit outlook from stable to negative. Tariffs have posed long-term credit risks to some Asia-Pacific economies, undermining their attractiveness and curbing foreign investment. Fiscal spending is likely to increase to help economic growth and slow or stop fiscal consolidation. Falling revenues - especially for trade-intensive countries - will further limit flexibility, while wider deficits will increase borrowing needs. If trade negotiations result in a significant reduction in tariffs, Moodys will adjust the outlook back to stable. Conversely, escalating tariffs, a sharp increase in interest rate spreads or continued geopolitical conflicts will worsen the situation.

News Lifts Oil The EU May Cut Off Russian Oil Imports

Charlie Brooks

Apr 15, 2022 09:50

R1.png


In April, both contracts posted their first weekly gain. Prices have been the most volatile in recent weeks since June 2020.


According to the New York Times, the European Union is considering a phased-in embargo on Russian oil to provide Germany and other nations time to secure alternative supply.


A phased-in prohibition would compel European purchasers "to seek alternate sources, some of which are being provided in the short term via Strategic Petroleum Reserve releases, but in the future, more supplies from the ground would be necessary," Lipow Oil Associates' Andrew Lipow said in Houston.


The International Energy Agency warned on Wednesday that around 3 million barrels per day of Russian oil might be shut down starting in May as a result of sanctions or importers intentionally avoiding Russian supplies.


According to Reuters, major global trading houses aim to reduce their imports of crude and gasoline from Russia's state-controlled oil corporations in May.


Russia's Energy Ministry said that access to its data on oil and gas production and exports will be restricted.


Trade will remain "a little anxious" while the conflict between Russia and Ukraine raged on and nations considered banning Russian imports, Price Futures Group analyst Phil Flynn said.


"The key issue will be how many individuals want to be oil short heading into the long weekend."


Traders also changed their positions on Thursday, when May crude oil options in the United States expire.


According to industry analysts, US oil production predictions are being revised upward despite labor and supply chain restrictions, as higher prices stimulate additional drilling and well completion activities.


US oil rigs increased by two to 548 this week, the highest level since April 2020, according to energy services company Baker Hughes.


The US Energy Information Administration said on Wednesday that the United States' oil reserves increased by more than 9 million barrels last week, owing in part to strategic reserve releases. According to a Reuters survey, analysts expected just an 863,000-barrel gain.


On the demand side, Chinese refiners are set to reduce crude throughput by about 6% this month, a level last seen in the early days of the COVID-19 pandemic two years ago, industry sources and analysts said. The move is intended to relieve pressure on bulging fuel inventories following recent lockdowns.

Suggestion