EUR/USD 1.08825
0.276%
Gold 2983.95
-0.164%
Oil 66.886
0.568%
USD/JPY 148.644
0.562%
GBP/USD 1.29350
-0.106%
GBP/JPY 192.274
0.500%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 15th news, recently, the computing power service market has continued to heat up. Since March, many listed companies have successively disclosed the signing of large-scale computing power service contracts worth hundreds of millions of yuan, which has attracted market attention. "Recently, the explosive development of AI technology, chip shortages and the expected increase in computing power rental prices, coupled with the promotion of favorable policies such as the East Data West Computing project, have led to a substantial increase in the demand for computing power orders." Wu Wanying, a senior researcher at Tianyi Digital Economy Think Tank, told reporters that with the continuous expansion of the scale of intelligent computing power, the further deepening of policy support and the penetration of AI technology into more industries, the demand for pre-computing power orders will continue to emerge, bringing new development opportunities to related fields.On March 15, Jack Meaning, chief UK economist at Barclays, said in a report that in the upcoming interest rate decision on March 20, the Bank of England is likely to keep the interest rate unchanged at 4.50% and reiterate that future interest rate cuts will be gradual. He said: "There has been nothing in the data since February that will materially change the views of the (Bank of England) Monetary Policy Committee." He said that the Bank of England may maintain its policy guidance unchanged at the March meeting and may cut interest rates by 25 basis points in May.The Dow Jones Industrial Average posted its biggest weekly drop since March 2023, while the S&P 500 and Nasdaq fell for the fourth consecutive week.The Dow Jones Industrial Average closed at 41,488.19 on March 14 (Friday), up 674.62 points, or 1.65%. The S&P 500 closed at 5,638.94 on March 14 (Friday), up 117.42 points, or 2.13%. The Nasdaq Composite closed at 17,754.09 on March 14 (Friday), up 451.07 points, or 2.61%.The Dow Jones Industrial Average fell 3.07% this week, the S&P 500 fell 2.28% and the Nasdaq fell 2.43%.

Oil prices fall ahead of an OPEC+ summit

Charlie Brooks

Aug 01, 2022 10:58

8.png


As investors prepared for this week's meeting of OPEC and other major producers to discuss supply modifications, oil prices declined on Monday morning.


At 0000 GMT, Brent oil futures declined 63 cents, or 0.6 percent , to $103.34 a barrel. U.S. West Texas Intermediate oil was trading at $97.87 per barrel, a decrease of 75 cents or 0.7%, after hitting a session low of $97.55 when trading in Asia began.


The price of both futures contracts climbed by more than $2 a barrel on Friday, as the risk appetite of investors grew. However, both Brent and WTI ended July with a second consecutive monthly decline for the first time since 2020, as rising costs and interest rates fueled concerns that a recession would restrict gasoline use.


According to ANZ analysts, gasoline use is below the five-year average for this time of year and fuel sales to British motorists are dropping. In reaction, for the first time since April, experts polled by Reuters cut their projections for the average Brent price in 2022 to $105.75 per barrel and for WTI to $101.28 per barrel.


Organization of Petroleum Exporting Countries (OPEC) and its allies, including Russia, will meet on Wednesday to set September production.


Two of eight OPEC+ sources questioned by Reuters said that a slight increase for September would be discussed at the August 3 meeting, while the other six sources indicated that output will likely stay constant.


The meeting follows Vice President Joe Biden's visit to Saudi Arabia last month.


While President Biden's visit to Saudi Arabia did not result in immediate oil shipments, Helima Croft, an analyst at RBC Capital, thinks that the Kingdom will continue to gradually increase output.


In 2020, at the beginnings of the COVID-19 outbreak, OPEC+ has completely reversed the dramatic production restrictions enacted at the start of August.


Sunday, the group's new secretary general, Haitham al-Ghais, emphasized that Russia's participation in OPEC+ is important to the success of the accord, as reported by the Kuwaiti newspaper Alrai.


Baker Hughes reports that the number of oil rigs in the United States climbed by 11 in July, marking the 23rd consecutive month of rise.

Suggestion