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The UKs Office for Maritime Trade Operations has received a report of an incident 78 nautical miles north of Fujairah, UAE. An oil tanker reported being struck by an unidentified flying object; all crew members are safe.1. Monday: ① Data: Final April Manufacturing PMI for France, Germany, and the Eurozone; May Sentix Investor Confidence Index for the Eurozone; US March Factory Orders (MoM). ② Holidays: Markets closed in Japan, the UK, Hong Kong, and mainland China. ③ Trump threatens to impose a 25% tariff on EU cars imported into the US this week. 2. Tuesday: ① Data: May RBA interest rate decision; Swiss April CPI; US March trade balance, April S&P Global Services PMI, final Composite PMI, ISM Non-Manufacturing PMI, March JOLTs Job Openings, and Annualized New Home Sales. ② Events: Feds Williams speaks; Bank of Canada Governor Macklem and Senior Deputy Governor Rogers attend parliamentary hearings; RBA releases interest rate decision and monetary policy statement, and Governor Bullock holds a press conference; Saudi Aramco releases official crude oil prices around the 5th of each month. ③ Holidays: Markets closed in South Korea, Japan, Hong Kong, and mainland China. ④ Earnings Reports: Pfizer and AMD. 3. Wednesday: ① Data: US API and EIA weekly crude oil reports, April ADP; Chinas April RatingDog Services PMI; UK, France, Germany, and Eurozone April Services PMI final readings; Eurozone March PPI. ② Events: US Federal Reserves Mohammed Speaks on Economic Outlook and Monetary Policy; Central Bank to Conduct 300 Billion Yuan Three-Month Outright Reverse Repurchase Operation. ③ Holiday: Japanese Markets Closed. ④ Earnings Reports: Walt Disney, ARM. 4. Thursday: ① Data: Frances March Trade Balance; Switzerlands April Seasonally Adjusted Unemployment Rate; Eurozones March Retail Sales Month-on-Month; US April Challenger Job Cuts, Initial Jobless Claims, March Construction Spending Month-on-Month, EIA Natural Gas Storage, New York Feds 1-Year Inflation Expectations, Chinas April Foreign Exchange Reserves. ② Events: Federal Reserves Goolsby Participates in a Panel Discussion at a Conference. 5. Friday: ① Data: German March seasonally adjusted industrial production month-on-month, trade balance; Swiss April consumer confidence index; Canadian April employment change; US April non-farm payroll report; preliminary one-year inflation expectations, University of Michigan consumer sentiment index, March wholesale sales month-on-month. ② Events: Speeches by Feds Hamak and Williams; a new round of price adjustments for domestic refined oil products will begin. 6. Saturday: ① Data: US weekly oil rig count report, Chinas April trade balance. ② Events: Feds Goolsby and Daly participate in a panel discussion at the Hoover Institutions 2026 monetary policy conference; Putin will deliver an important speech at the Victory Day parade.US President Trump: (Regarding Iran) Progress is going very well.US President Trump: We absolutely cannot allow an unconstitutional election to take place just for the "convenience" of state legislatures. If they have to hold two votes, so be it. We should require state legislatures to follow the Supreme Courts ruling. This is more important than administrative convenience. The result is that Republicans will gain more than 20 House seats in the upcoming midterm elections.May 4th - On May 2nd, 2026, the Chinese Embassy in the United States held an Open Day and Shaanxi Province Promotion Event. Ambassador Xie Feng attended and delivered a speech. Xie Feng stated that todays China has embarked on a new journey of the "15th Five-Year Plan," steadily promoting high-quality development, further deepening reform and opening up in all aspects, and moving towards a brighter future. A more prosperous China will undoubtedly be an anchor of peace and a haven of stability in a turbulent world; a more open China will undoubtedly bring strong impetus and broad opportunities for the common development of all countries.

Oil Prices Continue to Decline As Large COVID Testing Has Commenced in China

Haiden Holmes

Apr 28, 2022 09:38

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Oil prices fell slightly in early Asian trade on Thursday, driven down by fears over growing coronavirus cases in China, the world's largest oil importer.


Beijing's capital recorded 48 new symptomatic and two new asymptomatic COVID-19 cases for April 27, according to state broadcaster CCTV.


The city had previously reported 31 symptomatic cases and three asymptomatic cases as part of a mass testing program aimed at controlling a new outbreak.


By 0006 GMT, Brent crude futures had fallen 37 cents, or 0.4 percent, to $104.95 a barrel. West Texas Intermediate crude futures in the United States lost 27 cents, or 0.3%, to $101.75 a barrel.


Beijing authorities are stepping up their efforts to contain COVID-19 infections and avert the city-wide shutdown that has engulfed Shanghai for a month.


Hangzhou, China's 12.2 million-person city and headquarters of e-commerce giant Alibaba (NYSE:BABA), will begin broad COVID testing on April 28, official media said Wednesday.


Concerns about a global energy supply shortage following Russia's invasion of Ukraine and subsequent sanctions imposed on Moscow by the US and its allies underpin the market.


Gazprom (MCX:GAZP), the Russian energy behemoth, announced on Wednesday that it has interrupted gas deliveries to Bulgaria and Poland.


According to trading records, Shell (LON:RDSa) announced that it would no longer take refined oil blended with Russian products, while Exxon Mobil (NYSE:XOM) declared force majeure on its Sakhalin-1 facilities in Russia's far east.