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XPeng Group (09868.HK) rose 7%, with He Xiaopeng stating that L4 autonomous driving will be achieved within two years.May 28th, Futures News: Economies.com analysts latest view: Spot gold prices fell in recent trading after breaking below the key support level of $4,500 yesterday. Selling pressure persisted, with prices briefly dipping to near the $4,400 support level before a limited rebound, benefiting from improved momentum and easing of oversold conditions in the Relative Strength Index (RSI). Despite the brief rebound, the continued short-term downtrend and renewed downward pressure, coupled with gold prices remaining below the EMA50, limited any further short-term rebound opportunities.May 28th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices rose slightly, stabilizing near the $88 support level, which was our target price set in previous analysis. This provided some upward momentum, helping to recover some recent losses and temporarily restore balance. Crude oil prices are also attempting to alleviate the clearly oversold condition on the Relative Strength Index (RSI), especially with positive signals beginning to emerge. However, due to the strong downward correction wave dominating in the short term, with oil prices remaining below the 50-day moving average, downward pressure persists, and the possibility of a strong rebound in the short term is limited.On May 28, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held a symposium with US strategic and business leaders on the sidelines of the UN Security Council high-level meeting in New York on May 27. Wang Yi stated that the historic meeting between the Chinese and US heads of state in Beijing involved frank, in-depth, constructive, and strategic communication on major issues concerning China-US relations and world peace and development, reaching a series of important consensuses. Both sides agreed to define a "constructive strategic and stable relationship between China and the US" as the new positioning of bilateral relations, hoping to make efforts towards a direction of cooperation as the main focus, moderate competition, controllable differences, and a promising future of peace, jointly exploring the correct way for major powers to coexist in the new era. Wang Yi emphasized that "Taiwan independence" is incompatible with peace and stability across the Taiwan Strait. Only by adhering to the one-China principle and the spirit of the three China-US joint communiqués can peace across the Taiwan Strait be guaranteed and conflict and confrontation avoided. Wang Yi stated that China is willing to work with the US to implement the important consensus reached by the two heads of state and take concrete actions to ensure the "constructive strategic and stable relationship" is implemented as soon as possible. He hoped that everyone present would make positive efforts in this regard and promote a broader social consensus.On May 28, local time, on the 27th, Bagheri, Deputy Secretary of Irans Supreme National Security Council, stated that Iran is seeking the release of all Iranian assets frozen by the United States, saying, "This is the legitimate right of the Iranian people." He also emphasized that Iranian assets must be returned to Iran "fully and unconditionally."

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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