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US President Trump: Iran will never have nuclear weapons.US President Trump: The situation in the Strait of Hormuz is good, and yesterdays oil throughput through the strait reached a record high. The strait remains open.June 23 – U.S. auto safety regulators have launched an investigation into a fatal crash involving a Tesla (TSLA.O) vehicle. The car crashed into a residence Friday night, killing one person inside. The National Highway Traffic Safety Administration (NHTSA) said Monday it will investigate a crash involving a Tesla Model 3 near Houston, Texas. According to a statement from the Harris County Sheriffs Office, the Tesla driver told police he was using the Autopilot system at the time. Sheriffs officials said the vehicle veered off the road, "crashed at high speed into the brick house," and struck a woman inside. The woman later died from her injuries sustained in the crash.According to the U.S. Commodity Futures Trading Commission (CFTC), as of the week ending June 16, net short positions in the Japanese yen were 150,132 contracts; net long positions in the euro were 34,353 contracts; net short positions in the British pound were 71,585 contracts; and net short positions in the Swiss franc were 40,058 contracts.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending June 16, speculators increased their net short positions in CBOT U.S. 2-year Treasury futures by 50,669 contracts to 1,270,507 contracts. They also increased their net short positions in CBOT U.S. 10-year Treasury futures by 47,275 contracts to 911,082 contracts.

Oil Prices Extend Their Gains Following China's Stimulus Announcement

Haiden Holmes

Apr 27, 2022 09:35

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Oil prices increased in early Asian trade on Wednesday, extending gains from the previous session on China's central bank's announcement that it will bolster the country's economy.


Concerns over demand, on the other hand, weighed on futures as Beijing officials scrambled to contain a nascent COVID-19 outbreak and escape the same crippling city-wide lockdown that has engulfed Shanghai for a month.


By 0019 GMT, Brent crude futures had risen $1.11, or 1.1 percent, to $106.10 a barrel. West Texas Intermediate crude futures in the United States increased by 84 cents, or 0.8 percent, to $102.54 a barrel.


Crude oil prices increased by roughly 3% in the previous session's turbulent activity.


China's central bank announced Tuesday that it will strengthen its economy's prudent monetary policy support. Any stimulus would increase demand for oil.


Meanwhile, Russia's Gazprom (MCX:GAZP) has informed Poland's PGNiG that it will suspend gas deliveries along the Yamal pipeline beginning Wednesday morning, according to a statement from PGNiG. Poland will be required to make payments under a new arrangement on Tuesday, Gazprom said.


The announcement boosted NYMEX ultra-low sulfur diesel futures by more than 9% on Tuesday, settling at a record close of $4.47 per gallon.


In terms of supply, the US government will release data on crude stocks later Wednesday. According to industry figures released Tuesday, US crude and distillate inventories increased last week, but gasoline inventories decreased.

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