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1.14611
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Gold
4213.73
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Real-time News
June 22 – Asian crude oil imports are expected to recover to pre-Iranian conflict levels, but refined product supplies remain constrained, and this supply tightness will be reflected in prices. According to data compiled by shipping intelligence firm Kpler, Asia is projected to import approximately 22.18 million barrels per day (bpd) of crude oil in June, compared to 20.35 million bpd in May. June imports are still below the average of 26.76 million bpd in the three months prior to the US-Israel attacks on Iran on February 28. However, this figure is significantly higher than the eight-year low of 18.77 million bpd in April, the month when the effects of Irans effective closure of the Strait of Hormuz during the conflict were most severe. Furthermore, the pre-conflict situation where approximately 20% of global crude oil and refined product shipments transited the Strait of Hormuz is likely to resume, which would allow more oil to arrive in Asia in July.The Russian Ministry of Defense stated that in the past 24 hours, Russian armed forces attacked oil refining facilities in Ukraine, as well as fuel, energy, and transportation infrastructure.On June 22nd, several real estate agencies released data on Shenzhens housing market transactions during the Dragon Boat Festival holiday. Data from Leyoujia stores showed that during the 2026 Dragon Boat Festival holiday, the combined number of new and existing home sales contracts in Shenzhen increased by 17% compared to the 2025 Dragon Boat Festival, reaching the highest value in the past five years; new home sales increased by 9%, and existing home sales increased by 21%. According to Shenzhen Centaline Property, the average daily number of viewings at Centaline stores during the holiday increased by 52% compared to mid-June. As of June 21st, a total of 6,264 new and existing home transactions were completed in Shenzhen in June, including 2,641 new homes (1,670 pre-sale and 971 existing home sales) and 3,623 existing home transfers. Xiao Xiaoping, Dean of the Shenzhen Beike Research Institute, stated that the year-on-year increase in transactions during the Dragon Boat Festival holiday was primarily due to the continued release of policy benefits in the preceding period, coupled with a full window of opportunity for home viewing during the long holiday, leading to a concentrated release of pent-up demand from first-time buyers and those seeking to upgrade their homes. More noteworthy is that, unlike previous years when demand was solely driven by first-time homebuyers, this years market is showing a trend of "simultaneous sales at both ends": the sales of low-priced first-time homebuyers are accelerating, while the proportion of transactions for high-end homes in Nanshan and Futian districts is rising simultaneously. The market is no longer supported by a single customer group; a virtuous cycle has been formed between first-time homebuyers and those upgrading their homes, continuously driving market circulation.Bank of America: It expects the Federal Reserve to raise interest rates by 25 basis points each in September, October and December 2026, compared with its previous forecast that interest rates would remain unchanged this year.On June 22, Berenberg Bank analyst Holger Schmiding stated in a report that the European Central Banks deposit rate is expected to reach 3% by mid-2029 (currently at 2.25%). The institution had previously predicted this level would be reached in 2028. With the interim US-Iran agreement lowering energy costs, overall inflation in the Eurozone could fall below 2% by early 2027. This means the ECB may postpone interest rate hikes until the end of 2028. Schmiding stated that by then, Europes aging population is expected to begin causing labor supply to shrink faster than demand, thereby pushing up wages and forcing the central bank to raise interest rates.
