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According to the Philippine Institute of Volcanology and Seismology, a magnitude 5.1 earthquake occurred in the sea near Surigao del Norte Province, Philippines at around 9:10 am on March 16, with a focal depth of 10 kilometers. The earthquake is not expected to cause any damage, but there will be aftershocks.On March 16, French President Emmanuel Macron said in an interview published by French media on the evening of the 15th that if Russia and Ukraine achieve a ceasefire, France is willing to talk with Russia on the arrangements for providing security guarantees to Ukraine, including "direct communication" with Russian President Vladimir Putin. Macron said in the interview that the consensus reached on a temporary ceasefire in the US-Ukraine-Saudi talks was "an important progress" and now "the pressure is on Russia." If Russia is considered to have no sincerity in participating in the peace process, US President Trump is expected to increase sanctions and pressure on Russia. Macron said that "many countries", including some non-European countries, have expressed their willingness to participate in the "volunteer alliance" proposed by France and Britain to provide security guarantees for Ukraine after the future ceasefire, and each participating country is expected to send thousands of soldiers. Macron also expressed opposition to the confiscation of Russias frozen assets in the interview, believing that this "violates international rules."March 16 news, March 16, Baidu officially released Wenxin Big Model 4.5 and Wenxin Big Model X1. At present, the two models have been launched on the official website of Wenxin Yiyan and are open to users for free. At the same time, Wenxin Big Model 4.5 has been launched on Baidu Smart Cloud Qianfan Big Model Platform, and enterprise users and developers can log in to call the API; Wenxin Big Model X1 will also be launched on Qianfan soon. Baidu Search, Wenxiaoyan APP and other products will gradually connect to Wenxin Big Model 4.5 and Wenxin Big Model X1.According to the European-Mediterranean Seismological Center, a 4.7-magnitude earthquake occurred off the coast of central Chile at 21:22 local time on March 15, with a focal depth of 27 kilometers. No casualties or property losses have been reported so far.March 16 news, local time on March 15, after US President Trump ordered the cut of funding for the parent agency of the US government-funded media organization "Voice of America" and six other federal agencies, dozens of employees of "Voice of America" were suspended. It is reported that the companys employees shared an email with Reuters, which required them to suspend their work and enjoy full salary and benefits until further notice. Trump signed an executive order on the 14th to weaken the parent agency of the US government-funded media organization "Voice of America" and six other federal agencies as the latest move by the government to reduce bureaucracy.

Oil Gains 1% As Bulls Await China's Reopening

Skylar Williams

Jan 10, 2023 10:53

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After the worst week in a month to start the new year, crude prices rose just 1% on Monday as market bulls bet that China's reopening from tough COVID controls will stimulate oil consumption.


West Texas Intermediate, or WTI, crude finished up 86 cents, or 1.2%, at $74.63 a barrel on the New York Mercantile Exchange in the opening session of the second week of January.


Last week's drop in U.S. crude was the greatest since December 2. WTI had its worst first two trading days of any year since 1991.


Brent crude in London rose $1.08, or 1.4%, to $79.65 a barrel after touching $78.42. Brent, like WTI, fell more than 8% last week.


China reopened its borders to international trade on Monday, erasing the last signs of COVID restrictions that restricted most of its social programs for three years.


China's oil demand usually rises after the Lunar New Year, which is in January. Beijing's change from COVID-zero to "COVID-anything" makes oil demand prediction unachievable. Chinese industrial production fell for the seventh straight month in December as coronavirus incidence rose.


Officials forecast around 2 billion domestic travels during the Lunar New Year season, about double the amount from last year and 70% of 2019 levels.


In oil-specific news, China released a second batch of crude import licenses for 2023, raising the amount by 20% compared to last year.


"Oil's downward trend was nearing crucial support, therefore energy traders were eager to re-enter the oil market," said OANDA analyst Ed Moya. "Chinese hopes for COVID reopening could raise oil prices"

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