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French Foreign Minister: Putins troops withdrew 120 square kilometers from Ukraine in April, the first time in three years. The Russian economy is in crisis. The Kremlin should have opened its eyes to its failures long ago and ended this senseless and costly conflict.On May 6th, it was learned from the Guangzhou Municipal Housing and Urban-Rural Development Bureau that the Guangzhou real estate market saw a significant rebound in activity during the May Day holiday, with both the primary and secondary housing markets showing positive performance, indicating a clear recovery trend. Data shows that from May 1st to 5th, the Guangzhou primary housing market experienced a significant increase in activity, with an average daily visitor count of 8,692 groups, a year-on-year increase of 30.8%, and an average daily purchase volume of 634 units, a year-on-year increase of 50.1%. The secondary housing market maintained steady growth. The average daily number of viewings and purchases during the holiday increased by 15.6% and 5.2% respectively compared to April, with purchases increasing by 63.4% year-on-year, while the number of newly listed secondary homes declined. An official from the Guangzhou Municipal Housing and Urban-Rural Development Bureau stated that on April 30th, Guangzhou released implementation opinions on further promoting the stable and healthy development of the real estate market, proposing multiple measures from aspects such as optimizing the use of housing provident funds and streamlining the replacement chain. The policy benefits have been quickly transmitted, and the market response has been significant.JPMorgan Chase raised its price target for AMD (AMD.O) from $270 to $385.On May 6th, the Ministry of Industry and Information Technology (MIIT) publicly solicited opinions on the "Implementation Plan for Leading the Quality Revolution of Light Industrial Products through Standards Improvement (Draft for Comment)." The draft states that by 2027, the standardization mechanism for light industry will be more complete, with approximately 200 product and method standards to be formulated or revised. Evaluation and review of the implementation of approximately 100 standards will be conducted to improve the adaptability of standards to new products, technologies, and models. Approximately 30 light industry standards will be translated into foreign languages, and the proportion of international standards led by China will increase to approximately 8%, significantly enhancing the international influence of standards. By 2030, a globally leading light industry standard system will be basically established, with more effective standard supply, comprehensively leading the "China Light Industry" brand to a more stable and faster global expansion.French manufacturing output rose 1.6% year-on-year in March, up from 0.80% in the previous month.

On Expectations of Increased Chinese Demand, Oil Prices Rise

Mila Graham

Dec 28, 2022 16:10

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Markets were optimistic about a rebound in fuel consumption, which resulted in an increase in oil prices on Wednesday. China continues to remove its COVID-19 restrictions.


Brent futures for February delivery were up 31 cents to $84.64 a barrel by 01:17 GMT, a 0.4% increase. The price of U.S. crude rose by 22 cents, or 0.3%, to reach $79.75 a barrel. On Tuesday, the two benchmarks rose to their highest level in three weeks as a result of the positive market mood.


There is anticipation that demand for petroleum will rise as China, the second-largest economy in the world, gets ready to reopen its borders next month after three years of severe restrictions on trade and travel to stem the spread of COVID.


Prices were raised further by news that, in accordance with a directive from President Vladimir Putin, Russia expects to stop supplying oil to countries that comply with a G7 pricing quota set on December 5 as of February 1.


Elsewhere Oil and gas production from North Dakota and Texas has been reduced, interrupting the U.S. supply, as a result of an Arctic blast that brought temperatures well below freezing. Oil refiners were working to restart a dozen plants that had been closed due to the extreme cold on Tuesday.This recuperation might occasionally last into January.


According to an early Reuters poll published on Monday, distillate inventories and U.S. crude oil stocks were both predicted to fall by 1.6 million barrels each. [EIA/S]


The American Petroleum Institute is expected to provide data on American crude inventories on Wednesday at 4.30 p.m. EDT (20.30 GMT). The U.S. Department of Energy's statistical office, the Energy Information Administration, will release its own numbers on Thursday at 10.30 a.m. (1430 GMT).