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On January 22, New Oriental (09901.HK) and Oriental Selection (01797.HK) both fell sharply in early trading in Hong Kong. New Oriental once fell by more than 31%, and Oriental Selection once fell by nearly 10%. As of midday close, New Oriental fell 25.05% and Oriental Selection fell 2.97%. The reporter called New Oriental as an investor, and the relevant person responded that the company had no special circumstances, but the guidance (performance guidance) for the next quarter might not be as good as market expectations. Talking about the second quarter performance being dragged down by Oriental Selection, the person said that it did have a certain impact. After all, Oriental Selections net profit performance was good in the same period last year. Oriental Selections second-quarter performance fell year-on-year, mainly because it divested Yuhui Tongxing in July last year. If the one-time impact of this divestiture is excluded, Oriental Selection is profitable.Chairman of the Japan Petroleum Association: Despite Trumps policy announcement, it is uncertain whether U.S. energy developers will immediately increase oil and liquefied natural gas production.According to the Financial Times: Google has invested another $1 billion in OpenAI competitor Anthropic.On January 22, the enthusiasm for listing in Hong Kong continued to rise since January, and many companies rushed to sprint for Hong Kong IPO. Data showed that as of January 21, 29 companies had submitted prospectuses to the Hong Kong Stock Exchange, of which 21 were first-time submissions and 8 companies were updating their listing application materials.Futures News January 22, Economies.com analysts latest view today: WTI crude oil futures prices have clearly fallen below 77.53 and closed below this level on the daily chart. The price has completed the technical pattern of the head and shoulders top, which strengthens the possibility of a continuation of the bearish correction at the intraday level, and its target price is expected to exceed 75.53 and further drop to the 73.90 area. In view of this, it is expected that market sentiment will continue to be bearish for some time to come. However, if the price can break through the two key levels of 77.53 and 78.25 in turn, it may terminate the current bearish trend and make it possible for the price to re-enter the main bullish trend. The expected trading range of WTI crude oil today is set between 75.00 support and 78.00 resistance. Overall trend outlook: bearish.

WTI bulls continue to dominate in short squeeze

Daniel Rogers

Nov 16, 2022 14:45

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West Texas Intermediate, (WTI) experienced a short squeeze in the final portion of Tuesday's Wall Street session, moving towards in-the-money shorts from the beginning of the week. At the time of writing, the price of black gold is $87.47 and is up approximately 0.7% on the day so far.

 

According to reports, a Russian missile launched as part of an attack on Ukraine's energy systems landed in NATO member Poland and killed two people. The emergency gathering of Poland's leaders is referred to as a "crisis situation." The attack occurred near the village of Przewodow, close to the Ukrainian border, according to Polish media. Since then, the Polish foreign ministry has verified that a Russian-made rocket hit the Polish hamlet of Przewodów. In response, Stoltenberg will preside over an emergency summit of NATO on Wednesday morning.

 

According to ANZ Bank analysts, prices rose late in the session after a crucial pipeline transporting Russian oil to Eastern Europe was shut down due to a power outage. "The Ukrainian pipeline management stated that the cause was Russian artillery. The suspension impacts flows to Hungary, the Czech Republic, and Slovakia. It is currently unknown how long the pipeline disruption will last. This precedes the 5 December imposition of European restrictions on Russian crude oil imports. "Prices for crude oil had been under pressure early in the session due to demand concerns.

 

The data counterbalanced the negative IEA news that the agency has lowered its prediction for 2023 demand growth to 1.6 million barrels per day from 2.1 million bpd this year, while predicting a 240,000 bpd decline in demand in the fourth quarter of this year. "The GDP prognosis has deteriorated and 4Q22 global oil consumption will decline (-240 kb/d) compared to the same period last year. China's consistently sluggish economy, Europe's energy problem, expanding product defects, and the strength of the US dollar all impact hard on consumption "The agency's study stated.

 

"Earlier this week, OPEC also expressed concern about demand and therefore lowered its demand prediction for the fourth quarter. ANZ Bank analysts explained that rising COVID-19 instances in China dragged on confidence despite prospects of reducing virus restrictions earlier in the week. "Numerous large cities continue to report significant case counts. Across the nation, travel remains restrained due to the public's continued anxiety that it will be quarantined.

 

Separately, China has reported an increase in Covid infections, and many people under lockdown in the manufacturing hub of Guangzhou broke the containment barriers to protest in the streets. China's weak demand has been a drag on oil prices. Reuters stated that "new cases in Guangzhou surpassed 5,000 for the first time, increasing concerns that the city of more than 15 million could face larger lockdowns" The government reported 17,772 new cases of the coronavirus on Monday, up from 16,072 the day before.

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