EUR/USD 1.20071
-0.267%
Gold 5188.75
0.194%
Oil 62.275
-0.243%
USD/JPY 152.795
0.408%
GBP/USD 1.38142
-0.245%
GBP/JPY 211.077
0.187%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
A chart summarizing the overnight price movements of international spot platinum and palladium.On January 28th, renowned Apple analyst Ming-Chi Kuo predicted that iPhone memory prices are now negotiated quarterly, rather than semi-annually, so iPhone memory prices will rise again in the second quarter of 2026. Currently, the quarter-on-quarter price increase in the second quarter is expected to be similar to that of the first quarter. Apples current pricing strategy for the new iPhone 18 in the second half of 2026 is to "avoid price increases as much as possible," at least keeping the starting price unchanged, which is beneficial for marketing and promotion. Apple has realized that after memory and T-glass, other components may also be affected by the AI server industry and experience supply shortages.Futures News, January 28th - According to foreign media reports, palm oil futures on the Malaysian Derivatives Exchange (BMD) are likely to open higher on Wednesday morning, following gains in external markets. International crude oil futures rose nearly 3% on Tuesday due to winter storms severely impacting crude oil production, coupled with strength in Chicago soybean oil futures, which will help boost the early performance of Malaysian crude palm oil futures. Strong Malaysian palm oil exports and declining production will also further support palm oil prices.January 28th - Analyst Win Thin stated, "The Trump administration is taking well-considered risks. While currency devaluation is beneficial, the consequences could be dire if the situation spirals out of control. The foreign exchange market typically best reflects market concerns about a countrys policies and economic prospects, so the weakness of the US dollar deserves close attention. The yen should rebound as it attempts to recover the 150 level. Given the divergence in expected monetary policy this year, the currency pair should trade lower, as we anticipate a 50 basis point rate hike by the Bank of Japan and a 75-100 basis point rate cut by the Federal Reserve."SK Innovations reported fourth-quarter revenue of 19.7 trillion won, exceeding market expectations of 19.9 trillion won. The company reported a net loss of 4.2 trillion won for the quarter.

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