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According to Al Arabiya TV, the Israeli Defense Minister stated that Israel will not withdraw its troops from the safe zone in Lebanon until Hezbollah disarms.September 6th - To further enhance the informatization and intelligentization of efforts to prevent telecommunications and online fraud and help the public effectively identify and prevent fraud, the "National Anti-Fraud AI" APP, independently developed by the Shanghai Municipal Public Security Bureau under the guidance of the Criminal Investigation Bureau of the Ministry of Public Security, was officially launched recently. The "National Anti-Fraud AI" APP integrates big data, multimodal models, and intelligent agent technology. Users can input suspicious scenarios through their mobile phones, and the APP can complete risk assessment, identify fraudulent tactics, and push typical cases. It dissects fraud methods from multiple dimensions, including text, voice, and video, and provides identification and prevention strategies.On September 6, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement saying that its navy struck a U.S. unmanned surface vessel attempting to enter Irans "protected zone" in the Strait of Hormuz. This came hours after the U.S. and Iran exchanged military strikes. The IRGC had previously warned all vessels in the Persian Gulf and the Strait of Hormuz not to be deceived by the U.S. military and to avoid conducting any "suspicious activities" in unauthorized routes, or they would become targets. The IRGC has repeatedly emphasized that control and management of the Strait of Hormuz is "solely the responsibility of the IRGC Navy," and any disruption to order in the strait will be met with a firm response.September 6th - This year, AI short dramas have experienced explosive growth: lower technical barriers have led to a surge of practitioners, rapid capacity expansion, and a corresponding drop in production prices. The price per minute for producing AI short dramas has plummeted from 5,000 yuan to a few hundred yuan, nearing cost; however, customized short drama services can still fetch 10,000-20,000 yuan per minute. As production skills are no longer scarce, competition in the AI short drama industry is shifting from quantity and price to content and market share. Data shows that the domestic AI drama and animation market is expected to exceed 40 billion yuan by 2026, a year-on-year growth rate of 138%. The overseas market is also performing exceptionally well, with its size projected to surpass 4 billion US dollars, accounting for nearly 70% of the overall overseas micro-drama market.On September 6th, local time, the European Commission held a press conference on September 4th. A reporter asked how the EU would evaluate Israeli National Security Minister Ben-Gevills plan to expel 1.86 million Palestinians from the Gaza Strip. European Commission spokesperson Christian Wigand stated that the EU opposes any attempt to change the demographic structure or territorial status of the Gaza Strip, and that Gaza residents should not be forcibly displaced. Wigand also stated that the Gaza Strip is an integral part of the future Palestinian state.

WTI recovers to $87.50 on Iran, OPEC+ buzz

Daniel Rogers

Sep 02, 2022 14:38

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WTI crude oil prices consolidate weekly losses near a two-week low in Friday's Asian session. The energy benchmark hails the expected output drop from major suppliers while ignoring US-Iran oil deal discussions. The market's consolidation before the US jobs data seems to favor the latest commodity bounce.

 

Reuters reports that OPEC+ will meet on September 5 amid a backdrop of dropping prices and demand, even as top producer Saudi Arabia claims supply remains tight. OPEC+ this week reduced its demand estimate, now projecting demand to lag supply by 400,000 bpd in 2022 and 300,000 bpd in 2023.

 

On a second page, Reuters sources Iranian official news as claiming Iran has given a 'constructive' response to US suggestions aimed at restoring the 2015 nuclear deal.

 

Covid-led lockdown in China's Chengdu joins gloomy Manufacturing PMIs and hawkish Fedbets to squeeze WTI crude oil prices.

 

US 10-year Treasury rates decrease one point from late June's highs to 3.25 percent, while two-year bond coupons fall from a 15-year high. The CME's FedWatch Tool predicts a 74% chance of a rate hike in September, up from 69%.

 

Looking ahead, oil traders will watch the US Nonfarm Payrolls (NFP) and Unemployment Rate for August for fresh impulse.

 

Although $85.30-50 horizontal support limits the black gold's immediate fall, recovery is elusive until reaching the 50-DMA and 200-DMA, around $95.15-30.