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On March 29, the Wall Street Journal quoted a spokesman for the US Strategic Command as saying that several B-2 stealth bombers had flown from a base in Missouri to the US military base on Diego Garcia Island in the central Indian Ocean this week. Several strategic transport aircraft and refueling aircraft also arrived at the same time as the B-2 bombers. Diego Garcia Island is located at the junction of many routes in the Indian Ocean and has a very important strategic position. During World War II, it was a British air force base and an important naval port. After the United Kingdom and the United States signed an agreement in 1966, the United States leased Diego Garcia Island from the United Kingdom and established a large airport in the west of the island, which became an important base for the United States in the Indian Ocean. During the Gulf War, the Afghanistan War and the initial stage of the Iraq War, the US military launched air operations from Diego Garcia many times.March 29th news, On March 29th, at the 2025 Suzhou Sushang Conference, the "Suzhou City 2025 Action Plan for Optimizing the Business Environment" was officially released. The "Plan" launched 15 work measures around optimizing and improving the "five environments" of market, innovation, government affairs, rule of law, and humanities. The first is to create an open and orderly market environment. The "Plan" proposes to build a "financial supermarket" that combines online and offline by upgrading the comprehensive financial service platform to provide one-stop financial comprehensive consulting services. At the same time, optimize the financing coordination mechanism for small and medium-sized enterprises, promote non-repayment renewal loans, unsecured credit loans, first loans, inclusive loans in key areas, and refinancing services, and increase inclusive loans by no less than 100 billion yuan, so as to fully cover the reasonable refinancing needs of business entities. The second is to create a higher level of innovation environment. The third is to create an efficient and convenient government environment. The fourth is to create a stable and transparent legal environment. The fifth is to create a humanistic environment that is pro-business and safe for business.March 29th, Airbus announced that the European Space Agency (ESA) and Thales Alenia Space (67% owned by Thales Group and 33% by Leonardo) the main contractor of the ExoMars project have selected Airbus to build key systems for the ExoMars lander, including the mechanical, thermal control and propulsion systems required for the landing platform to ensure the safe delivery of the Rosalind Franklin rover to the surface of Mars.March 29th news: On March 29th, the Academy of Artificial Intelligence released the cross-entity embodied brain-brain collaboration framework RoboOS and the open source embodied brain RoboBrain. This is the first time in the market. This model can realize lightweight and rapid deployment of multi-tasks across scenarios and cross-entity collaboration, promoting single-machine intelligence to group intelligence.ASEAN foreign ministers said ASEAN is ready to support Myanmars relief and recovery efforts.

Oil Prices Remain Stable As Investors Anticipate Fed Reserve Remarks

Charlie Brooks

Feb 22, 2023 14:06

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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.

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