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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

Despite an increase in US official oil stock statistics, WTI extends its rebound to near $79.00

Daniel Rogers

Dec 30, 2022 11:20

 截屏2022-12-29 下午4.54.13_1024x576.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have continued their recovery move over the important resistance level of $78.50 during the Tokyo morning session. As a result of supply concerns due to a prohibition on oil sales from Russia to G7 nations and the European Union and anticipation of a recovery in demand predictions in China as a result of reopening steps, the oil price experienced buying activity around $77.00.

 

Russia has no intention of supplying fossil fuels at prices lower than those prevailing on the market, therefore oil supply is projected to remain a key concern. Without a question, western nations are actively seeking alternatives to Russia to meet their oil demand, but their reliance on Russian oil will keep them in agony in the medium run.

 

Meanwhile, the sheer velocity of reopening steps by the Chinese government in Beijing has caused short-term chaos owing to a sharp increase in the number of infections; however, Covid-19 may have reached its peak and the economy will restore its forward momentum.

 

According to a letter from Goldman Sachs economists, "For oil prices, we remain bullish on oil prices in the immediate future given the possibility for increasing China demand, and reduced supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

 

The United States Energy Information Administration (EIA) stated on Thursday, for the week ending December 23, that the oil price rebounded following a short decline due to an increase in oil stockpiles. The official US agency reported an increase of 0.718,000 million barrels in oil inventories, whereas the market had anticipated a decrease of 1.52 million barrels.

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