• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 6 - Ukrainian President Volodymyr Zelenskyy stated at a briefing on March 5 that the "Friendship" oil pipeline, damaged in the Russian attacks at the end of January, may be technically ready to resume operation within a month and a half. Zelenskyy said he initially did not want to continue with the pipelines restoration, but in order to secure the approval of the EUs €90 billion loan package for Ukraine, the country "may have no other choice."Toyota will cut its domestic production in Japan for the Middle East market by 20,000 vehicles.On March 6th, during the National Peoples Congress and the Chinese Peoples Political Consultative Conference (NPC & CPPCC) sessions, a reporter interviewed Gao Xiaoli, Vice President of the Supreme Peoples Court, on the issue of judicial services to safeguard the high-quality development of the capital market. Gao Xiaoli stated that the Supreme Peoples Court will expedite the formulation of judicial interpretations on civil compensation for insider trading and market manipulation in the securities market, aiming for their promulgation within the year; it will also expedite the issuance of judicial interpretations on crimes of breach of trust harming the interests of listed companies and crimes committed by private equity funds, unifying adjudication standards; and it will implement the requirements of the minutes of the meetings on the bankruptcy reorganization of listed companies, standardizing the bankruptcy reorganization of listed companies and improving the professionalism of adjudication.March 6 – Khoon Goh, Head of Asia Research at ANZ Bank, stated that Asia is well-positioned to cope with rising oil prices. The region currently has a low inflation threshold, providing a buffer to absorb energy-related price increases. Economic growth momentum is also strong, driven by the semiconductor supercycle. Policymakers may take action to limit the depreciation of their currencies to prevent further risks of import-driven inflation.March 6 - According to local media reports, Tokyo Electric Power Company (TEPCO) began discharging contaminated water from the Fukushima Daiichi Nuclear Power Plant into the ocean at approximately 10:00 AM local time on March 6. This marks the 18th time the company has discharged contaminated water into the sea.

Oil Prices Climb Due to Robust Crude Demand And A Weaker Currency

Skylar Williams

Oct 27, 2022 14:09

119.png


Oil prices continued to rise in early Asian trade on Thursday, propelled by record U.S. crude exports and a weakening U.S. dollar.


Brent oil futures climbed 25 cents, or 0.3%, to $95.94 per barrel at 00:15 GMT. West Texas Intermediate (WTI) oil prices increased by 0.2%, or 19 cents, to $88.10.


According to weekly official numbers issued on Wednesday, U.S. oil inventories grew by 2.6 million barrels last week, while crude exports hit a new high of 5.1 million barrels per day.


Before Wednesday's trade, the WTI-Brent difference was above $8 per barrel.


The dollar's decline was also beneficial, since the dollar's previous appreciation had been a substantial factor constraining oil market gains. Oil purchased in dollars becomes more affordable for holders of foreign currencies when the currency weakens.


According to a Bloomberg news report, the United States and the European Union are likely to compromise for a less strictly enforced limit at a larger cost than was initially planned, with only the Group of Seven (G7) and Australia ready to adhere to it.


Europe is expected to block Russian oil imports and restrict Russian shippers' access to the global shipping insurance market the following month.