EUR/USD 1.16654
-0.110%
Gold 4643.05
0.567%
Oil 84.555
-2.011%
USD/JPY 159.158
0.103%
GBP/USD 1.36333
-0.097%
GBP/JPY 216.990
0.005%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 24th, local time, Ukraine launched a large-scale drone attack on several regions of Russia. Logistics centers of Ozon, a leading Russian e-commerce company, located in the Krasnodar Krai, Adyg Republic, Dagestan Republic, and Stavropol Krai were attacked, causing fires. Ozon stated that it has begun evacuating affected warehouse staff, and some products have been removed from the platform, with orders canceled or rerouted.On August 24th, Shanghai issued the "Shanghais 15th Five-Year Plan for Accelerating the Promotion of New Industrialization and Building a Modern Industrial System." The plan proposes to promote the transformation and upgrading of vehicle manufacturing, strengthen local R&D of leading vehicle manufacturers, focus on innovation in autonomous driving and power batteries, deepen the independent control of the entire technology stack, and enrich the supply of high-end products. It also aims to accelerate the innovative application of intelligent connected vehicles, deepen the construction of autonomous driving training grounds, achieve full coverage of L2-level combined assisted driving in new vehicles, and accelerate the mass production of L3-level conditional autonomous driving and L4-level highly automated driving. The plan will steadily promote the innovative application demonstration of autonomous driving in intelligent buses, intelligent heavy trucks, and intelligent taxis, and promote the application of unmanned special-purpose vehicles. Furthermore, it will promote collaborative breakthroughs in the "three electrics" (battery, electric drive, and electronic control) fields, deploy next-generation power battery R&D and mass production lines, and seize new opportunities in the transformation track.On August 24th, Shanghai issued the "Shanghai Municipal 15th Five-Year Plan for Accelerating the Promotion of New Industrialization and Building a Modern Industrial System." The plan proposes to comprehensively enhance intelligent computing capabilities, tackle key challenges in developing high-performance, low-power, and high-efficiency intelligent computing chips, improve cluster networking and cloud service capabilities, and explore innovative architectures such as heterogeneous computing, optical computing, and quantum artificial intelligence; optimize intelligent computing infrastructure, and build an urban computing network. It also emphasizes continued efforts in large-scale model development, focusing on the research and development of next-generation large-scale models, overcoming key technologies such as architecture design and training optimization, promoting the coordinated development of chips, large-scale models, and intelligent computing clouds, and building an independent ecosystem. Furthermore, it calls for in-depth promotion of the "Model Power Gathering in Shanghai" initiative, accelerating the maturation of embodied intelligence technology, strengthening the independent full-industry chain layout of intelligent robots, improving the performance of key links, and promoting practical applications in key areas such as industrial manufacturing, logistics assembly, commercial retail, medical and health care, and domestic services.Total CEO: We will invest in Abu Dhabi to expand export pipelines to Fujairah.The Peoples Bank of China reported that at the end of July 2026, the Shanghai Composite Index closed at 3832.3 points, down 6.4% month-on-month; the Shenzhen Component Index closed at 13578.9 points, down 16.2% month-on-month. In July 2026, the average daily turnover of the two markets was 2,685.88 billion yuan, a decrease of 13.8% month-on-month.

In a risk-on environment with a weaker US dollar, WTI consolidates weekly losses above $83,000

Alina Haynes

Sep 09, 2022 17:17

 153.png

 

The price of WTI crude oil is higher for the second day in a row while paring the weekly losses at the eight-month low on Friday during the Asian session. However, by the time of publication, the black gold has reached a new intraday high of around $83.50.

 

Recent news reports from the US Treasury Department regarding the oil price cap appear to have helped drive up energy prices together with stronger sentiment and a weaker US dollar. According to the US Treasury source, "the oil price cap should be set above the marginal production cost, taking into account past Russian oil prices."

 

In other news, stronger sentiment and slow US Treasury yields cause the US Dollar Index (DXY) to fall intraday by 0.55%, to 109.05 at the latest. It's interesting to see that after a solid day, the US 10-year Treasury yields are still stuck around 3.32%, while the S&P 500 Futures tracks Wall Street's gains at approximately 4,020.

 

Recent market sentiment appeared to be aided by remarks made by US Treasury Secretary Janet Yellen, which suggested that trade relations between the US and China were set to improve. The market's attitude also appeared to have been aided by recently stronger US statistics and expectations that global central bankers will be able to offset the shock caused by inflation with a comprehensive strategy and higher rates. The Wall Street Journal (WSJ) article, on the other hand, raises some concerns about the future of China's technological enterprises and casts some doubt on the optimism.

 

A price document examined by Reuters on Friday revealed that Kuwait has decreased the official selling prices for its oil grades for the month of October from the previous month. Before the present program ends in October, US Energy Secretary Jennifer Granholm said the administration of US President Joe Biden is considering whether additional releases of crude oil from the country's emergency stockpiles are necessary. Prior to that, a Department of Energy official reportedly told Reuters that the White House was only considering releasing the 180 million barrels from the US Strategic Petroleum Reserve (SPR) that the president had already stated.

 

It should be highlighted that the recent decline in China's inflation data, coupled with the hawkish central bank activities, presents a challenge to oil purchasers. Both China's Producer Price Index (PPI) and Consumer Price Index (CPI) show unfavorable results for August. However, compared to 2.8% market expectations and 2.7% in the prior year, the headline CPI declined to 2.5% YoY, and the PPI fell to 2.3% from 3.1% projected and 4.2% in the preceding year.


Suggestion