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On March 29, South Korean Deputy Prime Minister and Minister of Finance and Economy Koo Yoon-cheol stated that if international oil prices rise to $120 to $130 per barrel, the government is likely to activate a Level 3 resource security crisis alert, and the vehicle license plate number restriction measures will be expanded to include the private sector.Market news: A U.S. KC-135 aerial refueling tanker has declared a state of emergency in Jordanian airspace.Musk: Teslas AI-powered Autopilot will be more than 10 times safer than human drivers.On March 29th, at the 2026 North Bund Wealth and Culture Forum on March 28th, Qiu Yong, Party Secretary and Chairman of the Shanghai Stock Exchange (SSE), stated that standing at the new starting point of the "15th Five-Year Plan," the SSE will consistently adhere to the development direction of marketization, rule of law, and internationalization. Guided by comprehensive reforms in capital market investment and financing, the SSE aims to promote more inclusive and adaptable systems, more efficient and high-performing listed companies, a more stable and resilient market operation, and a deeper integration of finance and culture. Qiu Yong introduced the SSEs practices in deepening comprehensive reforms in capital market investment and financing and cultivating a financial culture with Chinese characteristics from three aspects: First, vigorously leveraging the advantages of equity and debt financing to focus on serving the development of new productive forces. Second, focusing on building a "long-term capital, long-term investment" ecosystem to enhance the markets inherent resilience. "Investment and financing are two sides of the same coin in the capital market," Qiu Yong said. In recent years, the SSE has insisted on synergistic efforts on the investment and financing sides, focusing on smoothing the channels for medium- and long-term funds to enter the market, enriching investment and financing supply, continuously improving asset quality and investor returns, accelerating the formation of a sound "long-term capital, long-term investment" ecosystem, vigorously developing index investing, and actively attracting medium- and long-term funds into the market. It was revealed that during the "14th Five-Year Plan" period, approximately 3,500 new indices were compiled, and the scale of ETF products increased from 0.9 trillion yuan to 4.2 trillion yuan. Thirdly, efforts will be made to cultivate a financial culture with Chinese characteristics and to consolidate the foundation for market development.On March 29th, at the Global Unicorn Companies Conference, Zhou Hongyi, founder of 360, interpreted the recent "Lobster Craze" (OpenClaw intelligent agent). Regarding the question of when tokens will become as accessible and affordable to ordinary people as mobile data, Zhou Hongyi stated: The core of the traditional internet is data traffic. Its infrastructure (such as fiber optic cables) has almost unlimited capacity, and user data usage is directly proportional to duration and volume. The more users a platform has, the lower the marginal cost becomes. However, AI is completely different. The essence of AI operation is the consumption of computing power, information processing, and "intellectual costs," following the logic of information and energy conservation: the more complex the task and the deeper the demand, the higher the computing power and resources consumed will inevitably be. It is impossible to complete extremely complex tasks with extremely low investment. Tokens are a unit of measurement for the intellectual and computing power consumed by artificial intelligence. The unit price is relatively fixed, and the more it is used, the higher the cost. Therefore, tokens can never achieve unlimited monthly usage like mobile data.

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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