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U.S. Energy Secretary Wright: I have arrived in Venezuela. President Trumps energy diplomacy is bearing fruit—pushing for new energy agreements, opening doors for American businesses, and strengthening energy security across our entire hemisphere. Thanks to President Trump, Americas leadership in the energy sector has been restored.On September 2nd, the State Administration for Market Regulation approved and released the mandatory national standard "Safety Technical Regulations for Large-Scale Fireworks Displays," which will come into effect on September 1, 2027. Revised by the Ministry of Public Security, this standard will establish unified safety technical specifications for the design, operation, and management of large-scale fireworks displays nationwide, significantly improving the inherent safety level of such displays and helping to protect the lives and property of the people and public safety.September 2nd - This morning (September 2nd), the National Healthcare Security Administration held a press conference to release the 3.0 version of the disease-based payment scheme and technical specifications. According to reports, the new scheme features more refined grouping. The ADRG core group has increased from 409 groups in version 2.0 to 492 groups, an increase of 83 groups; the DRG subgroups have increased from 634 groups to 825 groups, an increase of 191 groups. Secondly, it places greater emphasis on the special needs of the elderly and children. my country is currently experiencing an accelerated aging population, and the special needs of medical services for children and maternal patients are increasingly being recognized. Version 3.0 further subdivides cases for children under 6 years old and those 70 years and older, accounting for one-tenth of all DRG groups. Painless childbirth also has three independent payment groups. This is a positive response to the health needs of key groups such as the elderly and children, and another important measure to support the construction of a fertility-friendly society. Thirdly, it provides clearer support for innovative technologies. A clear "support signal" in version 3.0 is the subdivision of robot-assisted surgery, providing clear and positive payment expectations for technological innovation and application.On September 2nd, the Taiwan Affairs Office of the State Council held a regular press conference. A reporter asked: Not long ago, the website of the General Administration of Customs announced a new batch of registrations for Taiwanese pomelo packaging plants and orchards, which has attracted attention on the island. Will more pomelos from Taiwanese counties and cities be approved for import into the mainland? Spokesperson Zhang Han stated that in April this year, the Taiwan Affairs Office of the State Council authorized the release of ten policy measures to promote cross-strait exchanges and cooperation, including facilitating the import of Taiwanese agricultural and fishery products that meet inspection and quarantine standards into the mainland. During this years Straits Forum, we held a signing ceremony for the ten policy measures to promote cross-strait exchanges and cooperation, building a platform for opening up sales channels for Taiwanese specialty agricultural and fishery products on the mainland. We are making every effort to do practical things, good things, and solve difficulties for our Taiwanese compatriots. On the basis of adhering to the "1992 Consensus" and opposing "Taiwan independence" politics, and on the premise of complying with relevant mainland inspection and quarantine regulations, we will work together with relevant parties on the island to help more high-quality Taiwanese agricultural and fishery products enter thousands of households on the mainland.Israel Defense Forces: Missile and rocket alerts have been activated due to the interception operation.

While gold recovers from testing the 20-month moving average at $1,680, West Texas Intermediate (WTI) falls to the $94s

Daniel Rogers

Jul 22, 2022 14:54

 截屏2022-07-22 下午2.41.09.png

 

On Thursday, oil prices dropped significantly. Futures contracts on West Texas Intermediary (or WTI), the price benchmark for sweet light crude oil in the United States, were trading in the $96s, down close to $4.0 a barrel for the day. As expected, prices stabilized over $94.50, close to their 200-day moving average.

 

There has been a confluence of negative events in the last day or so that have weighed on the oil markets. On Thursday, gas shipments from Russia's state-owned gas producer/exporter Gazprom to Germany via the Nord Stream 1 pipeline resumed, easing some of Europe's energy crisis concerns. Gas rationing and a scramble for other fossil fuels, such as oil, would result if Russia decided to cut off gas supplies to Europe.

 

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Meanwhile, information released on Wednesday indicated an unexpected increase in gasoline stocks in the United States last week. Data shows "US gasoline consumption is failing to move into high gear during the peak summer season," according to one expert. Others hypothesize that the demand destruction caused by the recent record high prices at the pump in the United States is to blame.

 

Many oil fields in Libya declared a force majeure last week, but production resumed on Thursday, according to market experts, alleviating fears about a worldwide supply crisis. Production in Libya has been erratic in recent years due to the country's political unpredictability.

 

Natural gas prices in the United States saw little movement after reaching multi-week highs in the low $8.0s earlier in the day.

 

Yields in the United States dipped across the curve on Thursday following the release of data showing that the number of Americans filing for unemployment benefits surged to its highest level in eight months. Despite this, claims remained at healthy levels. Also, the Philadelphia Federal Reserve's manufacturing survey hit a 10-year low in July (excluding the 2020 pandemic shock).

 

Even while corporate results have been mainly cheerful so far barely over a week into the reporting season, Thursday's dismal news seems to have contributed to a pick-up in US slowdown worries, as seen by the bond market's reaction. Gold rose when US rates fell because the precious metal is "opportunity cost" sensitive (like monetary commodities).

 

Although it fell to a low of just above $1,680 during Asia Pacific trading, 2021 lows, spot gold has since recovered strongly to the mid-$1,710s. With the global growth picture dimming and central banks actively hiking interest rates, gold is being squeezed from all sides. Spot gold prices are presently down more than 5% this month as the negative impact of rate rises as central banks struggle to confront inflation has been the stronger factor.


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