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The Swiss government has announced that payments related to the F-35A have been brought forward to the end of March 2026.The Swiss government has stated that it will continue to suspend payments to the United States until the US provides a binding delivery date and payment milestones.The Central Bank of Kazakhstan reported that it sold 350 billion tenge in foreign exchange in March to match its gold purchases, and plans to sell 1.1 trillion tenge in the second quarter.The European Commission has taken some steps toward a €90 billion loan to Ukraine.April 1st - According to statistics from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, in the first quarter of this year, the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge reached 1.03 million, a significant increase of 17% year-on-year. This is the first time that the number of vehicles in a single quarter has exceeded 1 million since the implementation of the "Macau vehicles going north" and "Hong Kong vehicles going north" policies in 2023, setting a new record for the same period. Travel purposes are becoming more diverse, and the frequency of passage continues to rise, with self-driving "northward" trips becoming a daily routine for Hong Kong and Macau residents. According to the head of the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station, driven by "northward" single-license plate vehicles, the number of Hong Kong and Macau passengers entering and exiting through the port has increased significantly. In the first three months of this year, the border inspection department inspected more than 4.5 million Hong Kong and Macau residents entering and exiting, an increase of 10% year-on-year, setting a new record for the same period.

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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