EUR/USD 1.15853
-0.568%
Gold 4458.14
-3.118%
Oil 82.713
-0.301%
USD/JPY 160.075
0.430%
GBP/USD 1.35378
-0.402%
GBP/JPY 216.693
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 30, the 2026 National Social Science Fund Annual Project Review Meeting was held in Beijing. Li Shulei, member of the Political Bureau of the CPC Central Committee and Minister of the Publicity Department of the CPC Central Committee, attended and delivered a speech. The meeting emphasized that Chinese-style modernization provides a rich practical foundation and broad space for innovation for the high-quality development of philosophy and social sciences. It stressed focusing on primary tasks, fully utilizing resources and methods from various disciplines, and continuously deepening the systematic research and interpretation of the Partys innovative theoretical system. It also emphasized accelerating the construction of an independent knowledge system for Chinese philosophy and social sciences, actively researching and solving major theoretical and practical problems of Chinese-style modernization, promoting the creative transformation and innovative development of excellent traditional Chinese culture, and facilitating cultural exchange and mutual learning. Furthermore, it stressed the need to focus on building a research management system and organizational form conducive to solving real problems, deepening the systemic reform of the National Social Science Fund, advocating excellent academic style and writing style, improving the academic evaluation system, stimulating research vitality, and promoting the digital and intelligent empowerment of philosophy and social science research.The Ukrainian military stated that Ukraine has struck an oil refinery in the Leningrad region of Russia and a military airbase in the Krasnodar region.August 30 - According to a report by the Icelandic National Broadcasting Corporation on the 30th, preliminary vote counts from the Icelandic referendum held on the 29th showed that a majority of voters opposed restarting negotiations for Icelands accession to the European Union.Malaysian Prime Minister Anwar Ibrahim: The new fuel quota system will be implemented on September 1.On August 30th, it was reported that on August 29th local time, violent attacks by Jewish settlers occurred in several locations in the West Bank, resulting in multiple injuries. In the village of Goslah, over 50 masked settlers threw stones at Palestinian residents inside their homes; in the village of Jaloud, masked settlers intercepted and attacked a vehicle belonging to the NBC News team; and in the village of Khaldin, armed settlers kidnapped and detained a British activist who supports Palestine.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

118.png


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.

Suggestion