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July 6th news, NIO CEO Li Bin said on the morning of July 6th that NIO is the only automobile company in the world listed in three places. NIO’s financial report counts R&D investment as current expenses, and the money is lost in the open, and the balance sheet is very clean.On July 6, analysts believe that it is not easy to create a third party that can challenge the "two-party system" in the United States. It may take years to resolve legal and economic difficulties. A senior election lawyer said that the qualifications of new political parties that want to run for election are different in different states in the United States. Take California as an example. If a new party wants to appear on the states ballot, it must absorb and maintain at least 0.33% of the states voters as members of the party, or collect signatures from 1.1 million voters. In order to obtain national recognition, the new party also needs to be recognized by the Federal Election Commission, which will almost certainly be strongly opposed by the Democratic and Republican parties. In addition to time and legal issues, the preparation of campaign funds is also a major problem. Lee Goodman, former chairman of the Federal Election Commission, said that Musk may need thousands of donors to jointly fund his party. In fact, in addition to the two major parties, the Democratic Party and the Republican Party, the United States also has political parties including the Green Party and the Libertarian Party, but the latter two cannot shake the status of the two major parties at all.July 6, according to a report by Russias Lenta.net on July 6, the United States will provide Ukraine with hundreds of thousands of drones under special conditions this year. Ukrainian President Zelensky revealed on the "Telegram" social platform that the United States is expected to provide more drones starting in 2026. Zelensky said: "Regarding drones, Ukraine has reached an agreement with the United States to significantly increase cooperation. This will enable Ukraine to obtain hundreds of thousands of drones under special conditions this year, and more drones next year." He said that Kievs main priority is to intercept drones, and Washington will also provide Ukraine with such drones.Market news: Dubais Roads and Transport Authority (RTA) signed a memorandum of understanding with Pony.ai to launch pilot testing of autonomous vehicles.July 6: Heavy rains in central Texas on July 4 caused severe floods, killing at least 51 people. Local officials said they had not received any warnings about the floods. Rick Spinrad, former head of the National Oceanic and Atmospheric Administration, said on July 5 that the U.S. weather forecasting and early warning capabilities have been severely affected by the U.S. governments budget cuts and layoffs. Spinrad also said that the latest budget of the U.S. Congress even plans to completely cancel the scientific research projects of the National Oceanic and Atmospheric Administration.

Oil prices steady after precipitous declines due to weak U.S. demand

Haiden Holmes

Jul 22, 2022 11:27

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Oil prices stayed almost unchanged in early trading on Friday, after a loss of around 3 percent in the previous session due to deteriorating demand in the United States, the biggest oil consumer in the world, and a rise in output from Libya.


Brent oil prices rose 17 cents, or 0.2%, to $104.03 per barrel at 00:41 GMT, while U.S. West Texas Intermediate (WTI) crude futures were constant at $96.35 per barrel.


WTI has been hammered over the last two days as a result of the publication of data suggesting that U.S. gasoline consumption during the height of the summer driving season decreased by around 8% from the previous year due to record pump prices.


"At 8.52 million barrels per day, seasonal demand is at its lowest level since 2008," experts at ANZ Research said in a study.


The decrease in WTI has positioned the contract for a loss of 1.3% this week, its third consecutive weekly loss.


Brent was bolstered by signs of healthy demand in Asia, putting it on course for its first weekly gain in six weeks.


Despite increasing prices, gasoline and distillate fuel demand in India hit all-time highs in June, with refined product consumption 18 percent higher than a year earlier and Indian refineries operating at their busiest levels ever.


An analyst at RBC, Michael Tran, said in a note, "This signals much more than a solid return from COVID-affected years."


Brent's gains were limited this week by the return of production at important Libyan oil fields.


Meanwhile, the European Central Bank (ECB) raised rates more than expected on Thursday in an effort to curb inflation, with ECB President Christine Lagarde warning that inflation risks had increased due to the likelihood that the Ukraine conflict will continue for an extended period of time and that energy prices will remain elevated for an extended period of time.


"Is the horizon cloudy? Clearly it is, "Lagarde said.


She said that the baseline assumption of the central bank is that neither this year nor next would experience a recession.

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