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The Swedish Energy Agency: To date, we have not seen any disruptions to the supply of aviation fuel; the impact is mainly reflected in prices.April 28th - A sharp weakening of the yen may prompt the Bank of Japan (BOJ) to take action, as the BOJ stated in a report that it will continue to raise interest rates based on economic, price, and financial conditions. Naomi Mukkara, a strategist at Mitsubishi UFJ Morgan Stanley Securities, said this marks a change in the BOJs "policy response function." In the report, the BOJ stated that foreign exchange rates are increasingly likely to influence prices, and such fluctuations could affect underlying inflation by altering inflation expectations. The BOJ does not directly target the yen, but if a significant depreciation of the yen accelerates price increases, the central bank may adjust its policy.The Kremlin stated that it would provide immediate updates if talks between Putin and Trump took place. No comment today.April 28th - According to the Ministry of Human Resources and Social Security, since the beginning of this year, my country has implemented skills enhancement initiatives targeting key areas and groups, and has already cultivated over 300 industry-education-assessment skills ecosystem chains. This year, my country has launched large-scale skills enhancement initiatives targeting key areas such as artificial intelligence, advanced manufacturing, and healthcare services, as well as key groups such as college graduates and migrant workers. The "New Eight-Level Worker" vocational skills grading system has been implemented in depth, with 1.128 million new senior-level or higher vocational qualification certificates or vocational skills level certificates obtained in the first quarter. Next, the country will strengthen general education on artificial intelligence to continuously improve workers digital literacy and AI application capabilities. A skills enhancement training program for one million young people will be implemented to make skills training more relevant to industries and jobs. Training services will be extended to enterprises, schools, and townships, creating a 30-minute training circle and skills training stations to allow more workers to participate in training locally.Kremlin: The military parade on May 9 will certainly take place.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

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Benchmark Brent oil declined on Thursday, while West Texas Intermediate (WTI) crude remained unchanged, hovering at two-month lows due to uncertainty about the degree to which a proposed G7 restriction on the price of Russian oil would limit supply.


A larger-than-anticipated rise in gasoline inventories in the United States and an expansion of COVID-19 limitations in China also knocked on oil prices.


At 15.15 p.m. ET (2015 GMT), Brent oil prices decreased 29 cents, or 0.3%, to $85.12 per barrel, while U.S. WTI crude futures decreased 2 cents, to $77.96 per barrel.


Due to the Thanksgiving break in the United States, trade volumes were quite low.


The announcement on Wednesday that the expected price ceiling for Russian oil may surpass the current market level triggered a decrease of about 3 percent for both benchmarks.


European Union nations remained divided over what level to cap Russian oil prices to limit Moscow's ability to pay for its battle in Ukraine without causing a global oil supply shock; if positions converge on Friday, more conversations are possible.


A European official claimed that the G7 is discussing a cap of $65-$70 per barrel for Russian oil transported by sea, but European Union member states have not yet reached an agreement on a price.


A higher price ceiling might encourage Russia to continue selling its oil, decreasing the possibility of a global oil supply shortage.


According to two sources, several Indian refiners are discounting Russian Urals crude by between $25 and $35 per barrel compared to the worldwide benchmark Brent oil. Urals is Russia's principal crude export.


Despite the obstacles, Bart Melek, global head of commodities market strategy at TD Securities, is rather optimistic about oil. "The Russian price ceiling is another aspect that contributed to the current price fall," he stated.


The Energy Information Administration (EIA) said on Wednesday that gasoline and distillate inventories in the United States climbed substantially during the previous week. [EIA/S]


In contrast, oil stockpiles decreased by 3.7 million barrels to 431.7 million barrels in the week ending November 18, despite a Reuters survey predicting a reduction of 1.1 million barrels.


China reported the highest daily number of COVID-19 cases since the outbreak began over three years ago on Wednesday. Local officials intensified measures to remove the breakouts, raising investor anxiety over the economy and demand for fuel.

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