EUR/USD 1.17705
0.017%
Gold 4802.63
-1.067%
Oil 86.528
4.318%
USD/JPY 158.737
0.114%
GBP/USD 1.35164
-0.017%
GBP/JPY 214.560
0.096%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Iranian Foreign Minister Araqchi: The United States has clearly shown malice and a lack of seriousness in its diplomacy.On April 20th, it was reported that the RMB continued to appreciate in early 2026, with both onshore and offshore exchange rates reaching new highs since March 2023. Xiang Songzuo, Dean of the Shenzhen Greater Bay Area Financial Research Institute, stated in a recent interview that short-term exchange rate fluctuations are mainly influenced by market speculation, while long-term fluctuations may be related to the real economy. He believes that the exchange rate is an anchor for an economic system, and the ideal state is a fixed exchange rate. Furthermore, he shared his insights on the credibility of the US dollar and the internationalization of the RMB, pointing out that the dollars hegemony lies in the comprehensive national strength of the United States, and the internationalization of the RMB requires the promotion of financial market opening.Commander of Ukrainian drone forces: We attacked the Tuapse oil refinery in Russia.April 20th - The 6th China International Consumer Products Expo (CIFIT) will be held in Hainan from April 13th to 18th, 2026. According to statistics from Haikou Customs, during the CIFIT, Haikou Customs supervised 470 million yuan in duty-free shopping, with 85,000 shoppers and 403,000 items purchased, indicating a continued surge in consumer enthusiasm. Moving forward, Haikou Customs will further leverage the synergistic effect of the "exhibition + duty-free" model, iterate on the "smart supervision + optimized service" mechanism, deepen innovation in duty-free supervision, and further upgrade the convenience of duty-free sales and the entire offshore duty-free supply chain.Groupcore Technology (00068.HK) continued to rise in the afternoon, currently up more than 80%.

WTI fluctuates around $80.00 following a V-shaped recovery as OPEC and allies intervene

Alina Haynes

Nov 22, 2022 14:53

 218.png

 

Futures for West Texas Intermediate (WTI) on the New York Mercantile Exchange (NYMEX) have had a steep comeback to near the psychological resistance of $80.00 after reaching an 11-month low of $75.27. The black gold is hovering at the $80.00 threshold as Saudi Energy Minister Abdulaziz bin Salman Al-comments Saud's have sparked supply concerns.

 

The Saudi Energy Minister affirmed that the existing OPEC+ agreement will remain until the end of 2023, confirming rumors that OPEC+ will intervene in the oil market to maintain oil prices from their unbalanced fluctuations. Previously, oil exporting nations agreed to reduce daily oil output by two million barrels in order to increase oil prices. The action is expected to disrupt the current demand-supply mechanism; consequently, oil prices are becoming more efficient.

 

On the demand side, the escalation of Covid-19 infections in China has prompted concerns over the future oil consumption. The present trend of increasing Covid-19 cases could push the Chinese government to reinstate Covid-19 limitations, as they are the sole means of restricting the virus's spread. The investment banking firm Goldman Sachs has reduced its projection for Brent crude oil prices in the fourth quarter from US$110 per barrel to US$100 per barrel due to the rising infection rates in China.

 

In the meantime, the demand for US Durable Goods will also reveal the future oil consumption in the US economy. According to forecasts, US Durable Goods Orders will settle at 0.4%, the same as their previous publication. Additional growth in the market for durable goods would eventually indicate oil demand forecasts.

Suggestion