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On August 25th, Alibaba Cloud announced that its Cloud Sandbox Snapshot feature will officially launch commercial billing starting at 00:00 Beijing time on September 7th, 2026. Snapshot supports full-state snapshots (including memory and disk) of running sandboxes, enabling second-level recovery of the sandbox or cloning of multiple new sandboxes based on the snapshot. It is suitable for scenarios such as resuming interrupted Agent tasks running for extended periods, second-level cold starts for environment warm-up, and parallel cloning exploration.Siemens Energy shares rose about 2% after reports that the company had hired Goldman Sachs to pursue a potential sale of its steam turbine stake.August 25th - my country is the worlds largest producer and exporter of audio products, with over 80% of the worlds audio equipment originating from China. Wang Tianxing, Deputy Chief of the Product Supervision Section of Haicang Customs, under Xiamen Customs, stated, "From January to July this year, Fujian Province exported 20.47 million speaker and loudspeaker-related products, a year-on-year increase of 16.8%. Among them, Xiamen City exported 17.39 million speaker and loudspeaker-related products, a year-on-year increase of 30.5%." With the peak export season approaching, Chinese audio companies are seeking new growth points in the global market. Emerging markets such as South America, the Middle East, and Southeast Asia are becoming important drivers of exports. Data from Qichacha shows that as of August 25th, there are 1.9737 million existing audio-related companies in China. The number of registered audio-related companies has shown a significant upward trend over the past decade, with the total number of registrations expected to exceed 400,000 in 2025, a year-on-year increase of 22.36% to 435,300, setting a new high for registrations in the past ten years. As of now, 246,600 companies have been registered this year.On August 25th, according to the local governor, a fire broke out at the Afipsky oil refinery in southern Russia after a drone attack overnight. The governor of Krasnodar Krai stated that local emergency services are handling the fire at the facility, located near the Ukrainian border. Ukraines actions against Russian refineries this summer have caused Russias daily oil processing volume to fall to multi-year lows and exacerbated fuel supply pressures. Several regions are currently facing fuel shortages and rationing measures. To support the domestic market, Russia has implemented a temporary ban on the export of most diesel, gasoline, and aviation fuel. The Afipsky refinery, owned by the privately held ForteInvest, has a crude oil processing capacity of approximately 180,000 barrels per day.Frances INSEE consumer confidence index for August was 86, below the expected 87 and the previous reading of 86.

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

Alina Haynes

Sep 09, 2022 17:17

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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.


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