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Mayor of Kyiv: Air defense forces are countering enemy drones in the capital.On September 22, according to foreign media reports, MASNA Ventures, Saudi Arabias first venture capital fund focused on the defense sector, is seeking to increase its investment in the localization of defense technology production for the United States and its allies. The recent conflicts in the Gulf region have exposed the regions shortcomings in military capabilities, further accelerating this process. MASNA Ventures has applied to the Saudi Capital Markets Authority to increase its fund size cap from $100 million to $150 million. MASNA focuses on autonomous systems, including drones, unmanned surface vessels, and unmanned underwater vehicles. MASNA plans to launch three operating joint ventures and six capital investments by 2026.September 22 – A survey released Tuesday by the Confederation of British Industry (CBI) showed that UK factory orders rose to their highest level since July 2023. The CBIs monthly order balance rose to -9 in September from -25 in August, a cumulative increase of 36 points over the past two months, the largest two-month increase since records began 49 years ago. The report further indicates that the UK economy has recently demonstrated resilience, while manufacturing output has also achieved solid growth. CBI Senior Economist Cameron Martin said: "There are increasing signs that the operating environment for manufacturers is stabilizing." The surveys expectations for output in the coming months also improved, with the expected price index rising to 12 from 22 in August, the highest level since March this year.The UKs September CBI industrial price expectations balance was 12, compared to 22 in the previous month.The UKs CBI industrial orders balance for September was -9, compared to -25 previously.

Shanghai Lockdowns Dent Demand Outlook For Oil

Aria Thomas

Apr 25, 2022 09:56

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The benchmarks fell over 5% last week because of concerns about demand.


"Bearish mood overshadowed concerns about global supply constraints as China maintained Shanghai lockdowns and investors braced for a succession of US rate hikes," said Hiroyuki Kikukawa, general manager of research at Nissan (OTC:NSANY) Securities.


Investors are attempting to rebalance their positions ahead of the start of the summer driving season in the United States later this month, he added.


"However, oil prices are unlikely to fall below $90 per barrel due to the likelihood of a European Union ban on Russian oil in the face of a worsening Ukraine conflict," he said.


Shanghai authorities, battling a COVID-19 epidemic, have constructed fences around residential structures, igniting new public outrage over a lockdown that has confined a large portion of the city's 25 million residents indoors.


Jerome Powell, chairman of the US Federal Reserve, has hinted that a half-point increase in interest rates "will be on the table" when the Fed meets in May to approve the next in a series of hikes this year.


On the supply side, US energy companies added oil and natural gas rigs for the fifth consecutive week, despite high prices and government pushing.


In Europe, three individuals familiar with the port loading plan told Reuters on Friday that the Russia-Kazakh Caspian Pipeline Consortium (CPC) would resume full exports on April 22 following nearly 30 days of outages due to repairs to one of its key loading facilities.


Nonetheless, some analysts believe that the deepening crisis in Ukraine may increase pressure on the EU to punish Russian oil, resulting in a price increase later this year.


Russia is Europe's largest supplier of natural gas and the world's second largest exporter of crude oil after Saudi Arabia.


Morgan Stanley (NYSE:MS) increased its third-quarter Brent pricing projection by $10 per barrel to $130, citing a "larger shortfall" this year as a result of reduced supply from Russia and Iran, which is anticipated to outweigh short-term demand challenges.

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