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On September 22nd, at the 2026 Yunqi Conference, Qianwen announced it will accelerate the development of its Personal Agent. Zheng Sishou, Qianwens product manager, stated that since its launch last year, enabling everyone to have their own AI assistant has always been Qianwens unwavering goal. Leveraging the powerful Agentic capabilities of the Qwen 3.8 series models, Qianwen is building a new form of Personal Agent to provide continuous, personalized intelligent services to 300 million users. Currently, Personal Agent has integrated personal health and financial data, and its open platform covers more than 20 fields.On September 22, the Italian National Institute of Statistics confirmed that the countrys deficit rate last year was 3.1%, a setback for Prime Minister Melonis government, which had previously hoped for an upward revision. While still low compared to similar countries like France, this deficit rate exceeds the EUs 3% cap, delaying Italys exit from the EUs Excessive Deficit Procedure (EDP). This procedure is an EU monitoring mechanism, essentially a "blacklist" of countries with high deficits. This result is another blow to Meloni, whose government is already struggling with the Middle East situation and faces next years national elections. She and the finance minister have been working to keep the deficit low. The goal remains to escape EU scrutiny next year, but for now, Meloni will face further obstacles while still attempting to increase defense and energy spending.September 22nd - According to CNN, US President Trumps Gulf allies will meet with him in New York on Tuesday as he weighs whether to "destroy" the Iranian regime. They had previously successfully dissuaded Trump from major escalation efforts, and this time, they fear further entanglement in the war, just as Washington is searching for a way out. Trump stated last Thursday that he faces a "major decision" regarding the war and wants to hear directly from Gulf leaders. The dilemma facing the Gulf leaders is how to provide Trump with a viable path forward, protecting themselves from further attacks, while simultaneously avoiding further involvement in the war.UBS CEO Sergio Ermotti stated on September 22nd that the banks third-quarter results will improve year-over-year, but the growth rate will be slower than the same period in 2025. Speaking at a US banking industry conference on Tuesday, Ermotti said, "We are seeing good momentum in wealth management and trading." "While we expect year-over-year growth, it is unlikely to reach last years levels due to seasonal factors." UBS will release its Q3 earnings report on October 28th.September 22 - The OECD will release its latest interim Global Economic Prospects report on Wednesday, September 23, 2026. OECD Secretary-General Dan Coleman and Chief Economist Stefano Scarpetta will present the report at a press conference at OECD headquarters at 16:00 Beijing time.

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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