EUR/USD 1.16054
-0.100%
Gold 4508.22
-0.767%
Oil 95.267
-1.973%
USD/JPY 159.162
0.116%
GBP/USD 1.34395
0.066%
GBP/JPY 213.893
0.184%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 24th, a White House official in charge of the 2026 FIFA World Cup said on the 22nd that, due to the Ebola outbreak, the Democratic Republic of Congo (DRC) national team must undergo a 21-day quarantine outside the United States before entering the country to participate in the tournament. The DRC team responded that day, stating that they would not change their existing World Cup warm-up match plans.The European-Mediterranean Seismological Centre reports a 5.2-magnitude earthquake in central Türkiye.Polish military: Polish military aviation is conducting operations in its own airspace in response to Russian long-range aviation strikes against Ukraine.According to Irans Fars News Agency: Despite US President Trumps claim that the Strait of Hormuz will be restored to its original state, the strait will remain under Iranian control.On May 24th, Al Jazeera, citing sources, reported that the draft agreement to be finalized includes the following: ending the war on all fronts, including Lebanon; unfreezing billions of dollars of frozen Iranian funds; lifting the US naval blockade and opening the Strait of Hormuz; and the withdrawal of US troops from areas near Iran. Following this, the two sides will have 30 days to reach an agreement on the nuclear issue, a period that can be extended by mutual agreement. During these 30 days, passage through the strait will be facilitated. Iran stated that the management of the Strait of Hormuz is a matter between Iran and Oman, and that it is currently consulting with Oman.

Shanghai Lockdowns Dent Demand Outlook For Oil

Aria Thomas

Apr 25, 2022 09:56

O2.png


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.

Suggestion