EUR/USD 1.16341
-0.215%
Gold 4507.58
0.663%
Oil 58.618
0.632%
USD/JPY 157.879
0.650%
GBP/USD 1.34060
-0.254%
GBP/JPY 211.655
0.407%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian President Volodymyr Zelenskyy said that Ukraines chief negotiator, Ivan Umerov, spoke with U.S. representatives on Saturday.January 10th - According to the National Marine Forecasting Center, a 6.6-magnitude earthquake struck the waters off the Tarau Islands of Indonesia at 22:58 (Beijing time) on January 10, 2026, with a focal depth of 69 kilometers. The Ministry of Natural Resources Tsunami Warning Center, based on preliminary earthquake parameters, assesses that the earthquake may trigger a localized tsunami around the epicenter, but will not affect my countrys coast.On January 10, the Inter-Services Public Relations (ISPR) of the Islamic Republic of Pakistan (IPP) announced that Pakistani and U.S. armed forces have begun a joint counter-terrorism exercise codenamed "Inspired Gambit 2026." The press release stated that the two-week exercise is being held at the National Counter-Terrorism Centre base in Pabi, Khyber Pakhtunkhwa province, in northwestern Pakistan.On January 10th, the Yangtze River Delta Integration Model Release and Application Linkage Conference was held in Shanghai. At the conference, the Yangtze River Delta Integration Model (YRD-P1), led by Professor Zhang Xueliangs team, a member of the China Regional Economy 50 Forum and Executive Dean of the Yangtze River Delta and Yangtze River Economic Belt Development Research Institute at Shanghai University of Finance and Economics, was officially released. Professor Zhang stated that the YRD-P1 model is a specialized large-scale model built upon years of accumulated urban and regional scientific research. Relying on continuously accumulated policy documents, statistical data, academic achievements, industrial chain information, and geospatial data, the model is deeply customized for the Yangtze River Delta region, emphasizing the systematic, authoritative, and traceable nature of its knowledge system, and aiming to provide a more intelligent, accurate, and sustainable decision-making support tool for coordinated regional development.According to Irans Mehr News Agency, Iranian security forces intercepted Kurdish militants attempting to enter the country from Iraq.

WTI fluctuates near $87.00 due to contradictory demand-supply data

Alina Haynes

Sep 13, 2022 10:54

 截屏2022-08-04 下午5.10.59_1024x576.png

 

After reclaiming the weekly high, the price of WTI crude oil remained stagnant at approximately $87.80, amidst mixed concerns regarding the supply and demand of black gold. In addition to the market's hesitance ahead of critical US inflation data and the weekly industry report on oil inventories, the commodity prices could be affected by the market's disposition.

 

In October, oil production in the Permian Region in Texas and New Mexico, the largest U.S. shale oil basin, is expected to increase by 66,000 barrels per day (bpd) to a record 5.413 million bpd, according to a study released by the U.S. Energy Information Administration (EIA) on Monday. During the past week, the United States stopped releasing more oil from its Strategic Petroleum Reserve (SPR), signaling a significant improvement in the supply situation. Energy Secretary Jennifer Granholm is quoted by Reuters as saying, "The Biden administration is assessing the need for more SPR releases after the present program concludes in October."

 

Reuters, citing statistics from the US Department of Energy (DOE), reports that emergency oil inventories in the United States plummeted to their lowest level since October 1984, falling 8.4 million barrels to 434.1 million barrels in the week ending September 9. In the same vein are the rumors concerning the European Union's oil embargo and the oil price cap imposed by Western leaders on Moscow's energy exports.

 

In addition to the probable increase in China's stimulus, uncertainty surrounding the US-Iran oil deal and the likely retribution of Russia after retreating from portions of Ukraine further support the oil's upward movement.

 

Notable is the correlation between the risk-on sentiment and the dollar's depreciation, which helps oil purchasers. In spite of this, the US Dollar Index (DXY) fell for a second straight day to levels not seen in two weeks, near 108.30 at the latest.

 

After the most recent softening in price pressure, the US CPI for August becomes key. The projections indicate that the headline number will decrease to -0.1% MoM from 0.0% previously, while the CPI excluding food and energy will likely remain steady at 0.3% MoM. Also significant will be the previous 3.645M Weekly Crude Oil Stock data from the American Petroleum Institute (API).

Suggestion