EUR/USD 1.15808
0.054%
Gold 4353.51
0.446%
Oil 84.643
0.397%
USD/JPY 159.361
-0.155%
GBP/USD 1.35373
0.044%
GBP/JPY 215.737
-0.102%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
U.S. Trade Representative Greer: The agreement reached with Canada will include full market access for all U.S. goods, economic security commitments, and digital trade integration.Hong Kong stocks rose in the short term, with the Hang Seng Index turning positive and the Hang Seng Tech Index narrowing its losses to 1.1%. Tencent Holdings (00700.HK) surged in the short term and is currently up nearly 1%.On August 19th, it was reported that Gaianixx, a Japanese chip materials startup spun off from the University of Tokyo, is accelerating its capacity expansion, betting on increased demand for chip materials driven by the AI boom. Gaianixx co-founder and CEO Kento Nakao stated that the company plans to expand capacity at its technology center in Yamanashi Prefecture, southwest of Tokyo, which currently processes 15,000 8-inch wafers annually. In an interview with Nikkei Asia, Nakao said, "The most advanced projects could enter the pilot production phase by the end of this year." He revealed that a Japanese customer and an overseas customer have committed to using Gaianixx materials to develop devices. This expansion comes at a time when chipmakers are increasingly seeking to improve performance through advanced materials. As the traditional path of upgrading by shrinking transistor size faces bottlenecks, Gaianixx believes this trend presents an opportunity for Japan.Shell (SHEL.N) is investing in a new supply chain in Queensland, Australia, with its QGC project set to begin supplying gas in 2027.On August 19th, Unitree Robotics officially listed on the STAR Market, opening with a 629.44% surge to 1100 yuan per share, giving it a total market capitalization of 444.9 billion yuan. Based on the issue price of 150.80 yuan per share, a single winning bid could yield a profit of 474,600 yuan. As one of the "Six Little Dragons of Hangzhou," Unitree Robotics boasts a star-studded shareholder base. Analysis reveals that Asstrend IV, an affiliate of Shunwei Capital founded by Lei Jun, holds 16.106 million shares, with a potential unrealized profit exceeding 15.2 billion yuan.

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