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On November 14th, the overnight SHIBOR was 1.3630%, up 4.80 basis points; the 7-day SHIBOR was 1.4680%, down 0.60 basis points; the 14-day SHIBOR was 1.5090%, up 0.90 basis points; the 1-month SHIBOR was 1.5180%, unchanged from the previous trading day; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.JD.com (09618.HK) fell more than 5%, with the companys Q3 revenue reaching RMB 299.059 billion, a year-on-year increase of 14.9%.On November 14th, Goldman Sachs stated that global oil demand growth will continue for longer than previously expected, driven by strong energy demand. Earlier this week, the International Energy Agency (IEA) softened its forecast that oil demand was nearing its peak. In a report published Thursday, Goldman Sachs analysts Yulia Grigsby and Daan Struyven wrote that global oil demand will grow from 103.5 million barrels per day in 2024 to 113 million barrels per day in 2040. The bank had predicted last year that demand would peak in 2034, but also noted that the peak could be delayed by six years due to the slowdown in the adoption of electric vehicles. Goldman Sachs attributed its revised peak demand forecast to bottlenecks in low-carbon technologies and infrastructure, as well as the growth in energy demand. The bank pointed out that after a prolonged plateau in oil demand from road transportation, petrochemical products will become a key driver of oil consumption, with the aviation industry also making a significant contribution. However, Goldman Sachs also warned that long-term oil demand forecasts are highly uncertain and often subject to significant revisions, with the main risks stemming from the accelerated progress of low-carbon technologies and the lingering impact of a potential economic recession.On November 14th, Morgan Stanley research reported that although Bilibili (BILI.O) beat expectations for third-quarter earnings, its advertising business showed slight improvement, and the game *Escape from Duckkov* was successful, management did not raise its fourth-quarter guidance due to the seasonal impact of *Three Kingdoms: Strategy*. The report initially believes that next years performance will likely fall short of the banks market expectations. The company now expects a mid-single-digit increase in fourth-quarter revenue, with game revenue remaining flat or slightly higher quarter-on-quarter, and advertising revenue growing at the low end of 20%. Regarding profit margins, the company guides fourth-quarter gross margin and adjusted operating margin to 37% and 10% respectively, in line with previous guidance and the banks expectations. The bank raised its 2025 earnings forecast by 14% and its 2025-26 EPS forecasts by 2%; the target price for US shares was raised from $23 to $25, maintaining an "Equal-weight" rating, as the current valuation is reasonable.South Korean presidential advisor: South Korea and the United States are expected to sign a strategic investment memorandum of understanding.

Oil is up Almost 9% on the Week As a Supply Scare Disrupts Trade

Haiden Holmes

Apr 15, 2022 09:57

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Earlier in the day, gains in oil were restricted as Chinese refiners were prepared to lower crude throughput by nearly 6% this month. According to industry insiders and experts, the decline would be on a magnitude not seen since the early days of the COVID-19 epidemic two years ago.


However, news of the possible EU embargo on Russian oil led purchasers to purchase more lots of crude futures and persuaded some shorts to cover their positions ahead of the Good Friday holiday, resulting in a longer weekend for US markets.


"As we approached the holiday weekend, oil was sensitive to profit-taking, but a significant fall is still unnecessary given the supply position and the fact that fears about an economic slowdown have yet to materialize," said Ed Moya, analyst at online trading platform OANDA.


Brent crude oil, the global standard, ended the day up $2.92, or 2.7 percent, at $111.70 per barrel. Brent gained 8.7 percent for the week, after two consecutive weekly losses that left it down 13%.


The New York-traded West Texas Intermediate, or WTI, crude oil standard in the United States concluded Thursday's session up $2.70, or 2.6 percent, at $106.95. WTI gained 8.8 percent for the week, after a 13 percent decline in the previous two weeks.


According to the New York Times, the European Union is considering a phased-in embargo on Russian oil to provide Germany and other nations time to secure alternative supply.


A phased-in prohibition would compel European purchasers "to seek alternate sources, some of which are being provided in the short term via Strategic Petroleum Reserve releases, but in the future, more supplies from the ground would be necessary," Lipow Oil Associates' Andrew Lipow said in Houston.


Russia's Energy Ministry said that access to its data on oil and gas production and exports will be restricted.


The International Energy Agency warned on Wednesday that around 3 million barrels per day of Russian oil might be shut down starting in May as a result of sanctions or consumers intentionally rejecting Russian supplies.


In May, major global trading houses aim to reduce their imports of crude and gasoline from Russia's state-controlled oil corporations, Reuters reported on Wednesday.

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