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May 8th - According to the official website of the China Securities Regulatory Commission (CSRC), Kunlun Core (Beijing) Technology Co., Ltd. officially launched its IPO preparation on May 7th, 2026, with China International Capital Corporation Limited (CICC) serving as the IPO advisor.1. The three major U.S. stock indexes closed slightly lower. The Dow Jones Industrial Average fell 0.63% to 49,596.97 points, the S&P 500 fell 0.38% to 7,337.11 points, and the Nasdaq Composite fell 0.13% to 25,806.2 points. Caterpillar fell more than 3%, and JPMorgan Chase fell more than 2%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index rose 0.69%, Tesla rose more than 3%, and Nvidia rose more than 1%. The Nasdaq China Golden Dragon Index fell 1.4%, Tiger Brokers fell more than 7%, and Pony.ai fell more than 6%. The Nasdaq and S&P 500 indexes fell after hitting intraday highs. 2. The three major European stock indexes all closed lower. The German DAX fell 1.02% to 24,663.61 points, the French CAC40 fell 1.17% to 8,202.08 points, and the UK FTSE 100 fell 1.55% to 10,276.95 points. 3. Most major Asia-Pacific stock indices closed higher. The Nikkei 225 surged 5.58% to close at 62,833.84 points, while the Korea Composite Stock Price Index (KOSPI) rose 1.43% to 7,490.05 points, both hitting new record highs. South Koreas stock market capitalization surpassed Canadas, becoming the worlds seventh-largest stock market. Funds continued to favor AI-related stocks, with SoftBank Group surging over 18%, KaiXia rising 19%, SK Hynix gaining over 3%, and Samsung Electronics climbing 2%. Indias SENSEX 30 index fell 0.15% to 77,844.52 points. 4. The WTI crude oil futures contract closed up 2.71% at $97.66 per barrel; the Brent crude oil futures contract rose 2.07% to $103.37 per barrel. 5. International precious metals futures generally closed higher, with COMEX gold futures rising 0.04% to $4,696.00 per ounce and COMEX silver futures rising 2.09% to $78.92 per ounce. 6. Most London base metals fell. LME zinc rose 1.41% to $3,447.0/ton, LME lead was unchanged at $1,977.5/ton, LME tin fell 0.29% to $53,650.0/ton, LME nickel fell 0.44% to $19,115.0/ton, LME copper fell 0.51% to $13,323.5/ton, and LME aluminum fell 0.92% to $3,490.0/ton.South Koreas unadjusted current account balance for March was $37.33 billion, revised from $23.1927 billion in the previous month.Meta Platforms (META.O): Part 2 of Canadas Bill 22 could have a significant negative impact on Canadians privacy and cybersecurity.Meta Platforms (META.O): (Regarding Canadas C-22 bill) urged the government to amend the bill to remove the obligation for companies to add third-party monitoring tools to their systems.

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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