• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 8th - According to CNN, citing three sources familiar with the decision-making process, prior to the February 28th attacks on Iranian targets, senior U.S. military commanders ignored warnings in key databases that intelligence regarding potential Iranian targets was severely outdated and approved multiple strikes, including an attack on an Iranian girls school that killed nearly 200 children and adults. The sources stated that the system contained warnings indicating that the intelligence was based on data from years ago and needed to be reviewed, and that adding targets to the strike list required approval from senior officers. Two of the sources indicated that senior commanders ignored the warnings for "efficiency reasons," as identifying targets was urgently needed in the early stages of a war, but this directly led to the mistaken bombing of the school. This attack is one of the deadliest civilian casualties in recent U.S. military operations.July 8th - According to Iranian state television today (July 8th), the US attack on Sirik in southern Iran has resulted in multiple injuries. Iranian President Pezechzian, who had just arrived in the Iraqi Shiite holy city of Najaf a few hours earlier, has left Iraq and returned home ahead of schedule. Pezechzian was scheduled to attend the funeral service for the late Iranian Supreme Leader Ali Khamenei in Iraq today.Bahrains Foreign Ministry condemned Irans attacks on Saudi and Qatari oil tankers, calling the incidents a "serious violation of international law" and a threat to maritime security and global energy supplies.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.25% to 52,925.15 points, the S&P 500 fell 0.45% to 7,503.85 points, and the Nasdaq Composite fell 1.16% to 25,818.69 points. Caterpillar fell more than 3%, Honeywell International fell more than 2%, leading the decline in chip stocks, with the Philadelphia Semiconductor Index falling 4.65% and Intel falling more than 9%. The Wind U.S. Tech Big Seven Index fell 0.01%, Tesla fell more than 4%, Facebook rose more than 2%, and SpaceX fell nearly 7%. 2. The three major European stock indexes closed mixed. The German DAX fell 1.37% to 25,465.25 points; the French CAC40 fell 0.51% to 8,436.24 points; and the UK FTSE 100 rose 0.13% to 10,665.88 points. 3. The WTI crude oil futures contract rose 5.32% to $72.2 per barrel; the Brent crude oil futures contract rose 5.49% to $75.94 per barrel. 4. International precious metals futures generally closed lower. COMEX gold futures fell 1.22% to $4116.60 per ounce, and COMEX silver futures fell 3.09% to $60.41 per ounce. 5. Most London base metals fell. LME aluminum rose 0.75% to $3139.0 per tonne, LME lead rose 0.40% to $1887.5 per tonne, LME tin fell 0.12% to $53000.0 per tonne, LME copper fell 0.51% to $13334.5 per tonne, LME zinc fell 0.56% to $3571.0 per tonne, and LME nickel fell 0.90% to $16275.0 per tonne.According to Iranian state television, Iranian President Peshizian has left Iraq and returned to Iran after the United States launched airstrikes on southern Iran.

Oil Prices Remain Stable As Investors Anticipate Fed Reserve Remarks

Charlie Brooks

Feb 22, 2023 14:06

83.png


Oil prices remained unchanged on Wednesday as investors awaited remarks from the U.S. Federal Reserve in response to recent data indicating the prospect of more interest rate rises, which may slow economic growth and reduce global fuel consumption.


Brent oil futures for April delivery rose 2 cents to $83.07 a barrel at 02:42 GMT on Wednesday, following a 1.2% decline on Tuesday. April West Texas Intermediate (WTI) oil futures decreased one cent to $76.35 a barrel. On Tuesday, the March WTI contract expired 18 cents lower.


The U.S. Federal Reserve will release the minutes of its most recent meeting on Wednesday, giving traders a view of how high policymakers expect interest rates to rise in the wake of recent job and inflation figures that exceeded expectations.


But, other economic statistics from the United States, the world's largest oil consumer, revealed some concerning trends. In January, existing home sales reached their lowest level since October 2010, marking the twelfth consecutive monthly decline, the worst since 1999.


"Oil prices came under pressure... as dismal economic data prompted worries about demand in advanced nations," ANZ Bank senior commodity analyst Daniel Hynes wrote in a report. Further rate increases might reduce oil consumption.


Rising interest rates tend to increase the value of the dollar, making oil priced in dollars more costly for holders of other currencies. 


Recently, oil prices have been bolstered by expectations of tighter global supply and growing Chinese demand. Experts anticipate that China's oil imports will reach a record high in 2023 due to rising demand for transportation fuel and the introduction of new refineries.


ANZ's Hynes remarked that PetroChina and Unipec, the trading arm of Sinopec (OTC:SHIIY), Asia's largest oil refiner, had reserved 10 supertankers to import oil from the U.S. next month, equivalent to around 20 million barrels of crude.