EUR/USD 1.16209
-0.410%
Gold 4545.67
-2.292%
Oil 100.978
3.282%
USD/JPY 158.766
0.243%
GBP/USD 1.33180
-0.615%
GBP/JPY 211.449
-0.370%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the official measurement of the China Earthquake Networks Center, a magnitude 3.4 earthquake occurred at 22:53 on May 16 in Wuqia County, Kizilsu Kirghiz Autonomous Prefecture, Xinjiang (40.47 degrees north latitude, 74.86 degrees east longitude), with a focal depth of 12 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.1 occurred near the Leeward Islands (17.56°N, 61.08°W) at 22:50 on May 16. The final result is subject to the official rapid report.On May 16th, according to an official notice, the Indian government has implemented new restrictions on silver imports, changing several categories of silver products from a free import policy to a restricted import policy. Under the revised regulations, the import of silver bars, unwrought silver, and semi-finished silver (including silver powder) now requires government approval. Certain categories of silver imports are also subject to regulations from the Reserve Bank of India. These changes are introduced through revisions to the import policy catalog under the Harmonized System of Trade (HS) of India. This move comes as the Indian government intensifies its efforts to tighten regulations on precious metal imports and control rising import bills. Previously, the Indian central government had increased import duties on gold and silver from 6% to 15%. Simultaneously, the Directorate General of Foreign Trade (DGFT) has tightened regulations regarding the duty-free import of gold by jewelry and gemstone exporters under the "pre-authorization" scheme.On May 16, according to a report by the Islamic Republic of Iran Broadcasting (IRNA), a fire broke out at an oil factory in the northwestern Iranian city of Maragay at around 10:00 AM. The Iranian Red Crescent website reported that IRNA official Mohammad Hossein Kabadi stated that the organizations rescue personnel immediately rushed to the scene after receiving the fire report to conduct search and rescue operations. As of now, the fire has injured at least 10 people, and the rescue operation is still ongoing.Teslas US website shows that the price of the Model Y Performance All-Wheel Drive version in the US has been increased from $57,490 to $57,990.

Oil Prices Continue to Fall in Early Trade

Aria Thomas

Apr 11, 2022 09:33

O2.png


The market has been closely following events in China, where authorities have confined Shanghai, a metropolis of 26 million people, to a "zero tolerance" policy for COVID-19. China is the world's largest importer of oil.


The International Energy Agency's (IEA) member states will release 60 million barrels over the next six months, with the US matching that amount as part of the 180 million barrel release announced in March.


The publication might also prevent producers, notably OPEC and US shale producers, from pursuing production increases even at prices around $100 a barrel, ANZ Research analysts said in a report.


However, the OPEC+ group of oil exporting countries has shown no sign of increasing its production objectives beyond the 400,000 barrels per day added monthly as part of the reinstatement of supply limits.


The IEA release would provide around 2 million barrels per day of supply for the next two months – plus an additional 1 million barrels per day from the United States for the next four months. It is unknown if this will compensate for the shortage of Russian oil after that country's invasion of Ukraine.


Russia's oil and gas condensate output declined to 10.52 million barrels per day (bpd) in April from an average of 11.01 million bpd in March.

Suggestion