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On April 22nd, Kimi, the Dark Side of the Moon, posted a statement saying, "We know that the recent user experience of Kimi has been somewhat disappointing. During the launch of the new model, KimiK2.6, the enthusiasm far exceeded our expectations. Due to the sudden surge in traffic, some users experienced membership queues and temporary unavailability of certain functions; at the same time, the backend system also made a mistake in calculating Agent credits, resulting in some users rights being incorrectly deducted. To ensure everyone can return to a smooth user experience as soon as possible, we have restored all users current months credit to 100% at 20:30 on April 22nd, 2026, and all used credits have been reset to 0."On April 22, just 15 minutes before US President Trump announced an extension of the ceasefire agreement with Iran, traders placed $430 million bets on falling oil prices. This marks the third time this month, and the fourth since the conflict began, that traders have made large and precise predictive bets on oil prices shortly before major announcements regarding the war with Iran. The bets in March were worth $500 million, while the total amount placed in April reached approximately $2.1 billion. On March 23, just 15 minutes before Trump announced a delay in attacks on Iranian power facilities, traders placed $500 million bets on falling oil prices. Hours before Trump announced a two-week ceasefire agreement on April 7, bets worth $950 million were placed. On April 17, about 20 minutes before the Iranian Foreign Minister announced the opening of the Strait of Hormuz to commercial vessels, traders placed $760 million bets on falling oil prices.European Central Bank Chief Economist Lane: I doubt whether we can gain a clear understanding of the situation regarding the war with Iran by next week.According to a text message from US President Trump cited by the New York Post, Trump said that negotiations with Iran "may" begin this Friday.The UKs National Electricity System operator says fossil fuel generation has fallen to 2.1% of the UKs electricity mix. This is the lowest level of fossil fuel generation in the UK since at least 2009.

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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