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February 15 - Japanese police said on February 15 local time that a stabbing incident occurred in Dotonbori, Chuo Ward, Osaka City in the early hours of the day, resulting in the death of one victim. Police have taken a male suspect in his 20s into custody.On February 15th, it was reported that on February 14th local time, the U.S. Department of Justice sent a letter to members of Congress explaining the redacting of documents in the Jeffrey Epstein case. The letter outlined the types of redacting and provided a detailed list of numerous prominent or "politically sensitive" individuals mentioned in the documents, even though they had no direct contact with Epstein or his ex-girlfriend and accomplice Maxwell, but were mentioned in news clippings and other sources.February 15th - According to statistics released by the State Administration of Foreign Exchange (SAFE), in January 2026, banks settled 2.0048 trillion yuan in foreign exchange and sold 1.4457 trillion yuan; banks foreign exchange receipts on behalf of clients totaled 5.4722 trillion yuan, while their payments totaled 4.8974 trillion yuan. Li Bin, Deputy Director and Spokesperson of SAFE, explained that in January, both the banks foreign exchange settlement surplus and the net inflow of cross-border funds from non-bank sectors such as enterprises and individuals declined compared to the previous month. This was mainly due to seasonal factors; while corporate receipts and settlements increased rapidly, the growth slowed recently as demand gradually increased. "Overall, my countrys foreign exchange market is active, expectations are stable, and cross-border capital flows are becoming more stable," said Li Bin.On February 15th, a netizen raised a question on social media: SpaceX is shifting its focus from Mars to the Moon and plans to build an autonomous city on the Moon within ten years, but why is it making this change? Musk responded: "It needs to be clear that we will continue to advance the Mars program. I believe this adjustment will not affect the timeline for the autonomous development of a Martian city by more than five years, and may even accelerate the development process on Mars."February 15th - According to Iranian media reports on February 14th, Iranian Foreign Ministry spokesman Baghae stated in a media interview that the right to peaceful use of nuclear energy is Irans inherent and inalienable right, and no form of political pressure can undermine this right. Baghae stated that as a signatory to the Treaty on the Non-Proliferation of Nuclear Weapons, Iran enjoys the right to peaceful use of nuclear energy. Iranian President Peshichiyan recently stated that Iran does not seek nuclear weapons and is prepared to accept any form of inspection, but will not back down in the face of excessive demands and injustice. The United States has recently continued to pressure Iran, deploying multiple warships, including the aircraft carrier USS Lincoln, in the Middle East and threatening military intervention. A new round of US-Iran talks will be held on February 17th in Geneva, Switzerland, with Omani representatives coordinating the contacts between the two sides.

As Fed Worries Mount, Oil Prices Fall And Are on Course For Weekly Losses

Skylar Williams

Feb 17, 2023 11:48

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Concerns over increasing U.S. interest rates and a strong currency mostly overshadowed optimism on a potential recovery in Chinese demand, which led to a modest decline in oil prices on Friday and a projected weekly loss.


The U.S. producer price index inflation for January was higher than anticipated, after a report on the consumer price index that suggested inflation will likely continue tenacious in the world's largest economy.


The findings, along with harsh overnight comments from Federal Reserve officials, indicated further interest rate rises in the coming months, which investors fear will stifle economic growth and weigh on petroleum consumption this year.


Around 21:13 ET, Brent oil prices decreased 0.1% to $84.55 per barrel, while West Texas Intermediate crude futures decreased 0.7% to $77.97 per barrel (02:13 GMT). This week, both futures were expected to lose between 1.5% and 2%.


Overnight, the dollar appreciated as Fed governors James Bullard and Loretta Mester advocated for more rate rises by the central bank, which impacted on petroleum prices. The dollar's strength raises the price of petroleum for overseas customers, hence diminishing global oil demand.


The Biden Administration's anticipated sale of 26 million barrels of petroleum from the Strategic Petroleum Reserve also weighed on oil prices earlier this week. This, along with statistics indicating a far larger-than-anticipated increase in U.S. oil stockpiles, suggested an imminent U.S. supply glut.


This week, oil prices were buoyed by optimism over a rebound in Chinese demand. However, the negative supply and monetary policy cues essentially negated this optimism, resulting in a decline in crude prices. In recent sessions, oil prices fluctuated wildly as markets evaluated a more optimistic demand forecast against hints of impending conflict.


The Organization of Petroleum Exporting Countries and the International Energy Agency both increased their demand predictions for the year, with a rebound in China expected to account for over fifty percent of oil demand this year.


China proposed fresh spending measures this week as part of its efforts to bolster economic development following three years of COVID restrictions.


Although China's relaxation of the majority of anti-COVID policies this year, China's economic figures have been fairly mediocre. Oil bulls are now waiting for more consistent evidence of economic improvement in the top oil importer in the world.

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