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On July 25, US President Trump addressed the conflict with Iran during a speech at the White House Correspondents Association Dinner. Trump said, "Everything is going very well. Dont believe the fake news." He went on to say that the US had "devastated Iran," and that Iran no longer possessed naval and air force combat capabilities. He said, "Although youve seen some things, they have very few drones left." Trump added that he believed Iran "very much wants to reach a deal," but felt "theyre not ready yet." Trump stated, "I dont think the time is right, but Im open to listening."On July 25th, Trip.com issued an announcement regarding its sincere acceptance of the administrative penalty decision from the State Administration for Market Regulation: "Today, we received the Administrative Penalty Decision from the State Administration for Market Regulation. We sincerely accept and resolutely comply with this decision, and will strictly adhere to the regulatory requirements, systematically implementing all rectification measures to ensure their effective execution. We will take this penalty as an opportunity to deeply reflect on our actions, reform ourselves, resolutely abandon inefficient involution competition, and steadfastly pursue high-quality development. We will earnestly fulfill our primary responsibility to maintain fair competition in the industry, paying greater attention to the overall interests of our partners, consumers, and all sectors of society, and are committed to building a symbiotic, harmonious, and healthy cultural tourism ecosystem. Looking to the future, we will always adhere to the bottom line of compliant operation, improve our long-term governance mechanism, earnestly fulfill our corporate social responsibility, and contribute our due share to building my country into a tourism powerhouse."July 25th - The latest epidemic report released by the Ministry of Health of the Democratic Republic of Congo (DRC) on the 24th shows that the cumulative number of confirmed cases of Ebola in the country has risen to 2,905, with 1,269 deaths. The report states that the significant increase in confirmed cases and deaths is mainly due to the DRC health authorities completing a unified calibration of regional and national databases on the 22nd, adding some previously uncounted cases. The report shows that as of the 22nd, a total of 722 patients were receiving isolation or hospitalization treatment, and a total of 519 cases have recovered.According to the Associated Press, the U.S. military said on Friday that it fired on another merchant ship attempting to break its blockade of Iranian ports. The U.S. military rendered the oil tanker M/T Lavine unable to navigate in the Gulf of Oman.On July 25, the State Administration for Market Regulation (SAMR) imposed administrative penalties on Trip.com Group Co., Ltd. for abusing its dominant market position and engaging in monopolistic practices, with fines and confiscations totaling 5.179 billion yuan. SAMR will supervise Trip.com to conduct a comprehensive rectification, publicly disclose rectification measures, accept public supervision, effectively protect the legitimate rights and interests of hotel operators and consumers, maintain a market order of quality and fair pricing, and promote industry innovation and healthy development.

WTI bears are exerting pressure on bulls below crucial resistance; a breach of $84.70 is likely

Daniel Rogers

Nov 17, 2022 11:39

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West Texas Intermediate (WTI) is approximately flat on the day thus far, following a consolidational and range-bound session on Wednesday. NATO stated that there was no proof that a missile that landed near a Polish village and killed two people was an intentional attack. Consensus holds that it most likely originated from a Ukrainian air-defense system shooting in response to Russian attacks, alleviating fears of an escalating conflict.

 

The Druzhba pipeline, which transports Russian oil to Europe, was shut down earlier this week due to infrastructure damage caused by Russian shelling. The power supply has reportedly been restored, analysts at ANZ Bank reported. This enables the delivery of oil to countries including Hungary, the Czech Republic, and Slovakia. "Initial fears of additional unrest in the Middle East have also abated. A projectile struck an oil tanker in the Gulf of Oman, but the damage was minimal.

 

Nonetheless, ANZ Bank analysts stated that the market still faces supply-side challenges. '' Germany cautioned that it cannot count out temporary supply shortages when a ban on Russian crude imports goes into effect next month. OPEC appears to be cutting production in accordance with its commitment to do so. According to Petro-Logistics, tanker tracker data indicates that OPEC shipments were significantly greater than 1mb/d during the first 15 days of November. The weekly inventory update released by the EIA provided some assistance to the markets. Last week, commercial inventories hit 5,400 kbbl. ''