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On April 19th, my countrys first large-scale application project of hydrogen-blended natural gas, covering 100,000 households, was officially launched in Weifang, Shandong Province. The project utilizes Weifangs existing urban natural gas pipeline infrastructure to achieve stable hydrogen-blended natural gas transmission and distribution. The project covers 100,000 urban households in Weifangs central urban area, comprehensively encompassing various residential gas usage scenarios, including daily life and commercial catering. Residents can use hydrogen-blended natural gas normally without replacing their existing gas appliances. Experts stated that by implementing the "Hydrogen to Every Household" technology demonstration project, the "last mile" of hydrogen energy application in the urban gas sector has been bridged, achieving large-scale, continuous, long-term hydrogen-blended operation for the first time nationwide. The application of hydrogen-blended natural gas has significant demonstration benefits in energy security, green electricity consumption, and energy conservation and emission reduction. Preliminary calculations indicate that if hydrogen is blended at a 10% ratio in national urban gas consumption, it can replace approximately 15 billion cubic meters of natural gas annually, correspondingly reducing carbon dioxide emissions by approximately 30 million tons.Mayor of Tel Aviv, Israel: Iranian airstrikes have rendered more than 1,000 apartments in the city uninhabitable.April 19th - The US-Iran conflict caused a temporary setback in gold prices, but looking at the long term, golds luster remains undiminished. At the "2026 Market Outlook Forum" recently hosted by the London Stock Exchange Group (LSEG), economist Hong Hao stated that the recent decline in gold prices was not due to deteriorating fundamentals, but rather because it has "completed its historical mission for a certain period." Hong Hao analyzed that the lower the credit rating and the higher the yield of US Treasury bonds, the higher the gold price will be one year later. Holding 10-year US Treasury bonds for one year could result in a loss of nearly 10%, which is a very unfavorable trade; in contrast, fundamental logic, narrative logic, and data models all point to a higher gold price, with a doubling in the future being a certainty. Despite the significant short-term correction in gold prices, he remains optimistic about its long-term prospects.Bangladeshs Ministry of Energy announced Saturday evening that it has raised retail fuel prices by 10% to 15% due to soaring global crude oil prices and supply shortages caused by the ongoing conflict in the Middle East. The official notice indicates that under the new prices, gasoline will increase from 116 taka per liter to 135 taka (approximately US$1.10), diesel will remain at 115 taka per liter, and kerosene will cost 130 taka per liter. Bangladesh heavily relies on imported fuel, and the rising fuel costs are putting pressure on the South Asian nations already strained foreign exchange reserves.April 19th - According to analysis firm Kpler, since the outbreak of the war with Iran in late February, the global market has lost more than 500 million barrels of crude oil and condensate, making it the largest energy supply disruption in modern history. During the conflict, the average price of crude oil was around $100 per barrel. Analysts and Reuters calculations indicate that the lost production is worth over $50 billion, and this loss could last for months or even years.

International oil prices are facing a technical adjustment, but the bulls still have good reasons to continue holding positions

Oct 26, 2021 10:59

On Wednesday (October 6), international oil prices fell from their multi-year highs and faced technical adjustments after rising for many consecutive days. But investors are worried about global energy supply, and the crude oil market is still facing signs of tight supply.

At GMT+8 16:06, NYMEX crude oil futures fell 0.28% to 78.70 US dollars per barrel; ICE Brent crude oil futures fell 0.25% to 82.35 US dollars per barrel.


The two cities respectively refreshed their highs of USD 79.78/barrel since November 10, 2014 and their highs of USD 83.47/barrel since October 10, 2018. The two cities have risen for four consecutive days and five consecutive days.

The Organization of Petroleum Exporting Countries and Russia-led partners (OPEC+) said earlier this week that they would stick to the existing agreement-increasing oil production by 400,000 barrels per day each month, instead of further increasing production.

Oil prices have soared by more than 50% this year, intensifying inflationary pressures. Major crude oil consumers such as the United States and India worry that this will hinder the recovery of the global economy from the new crown epidemic.

However, at the end of last month, the OPEC+ Joint Technical Committee (JTC) stated that it is expected that there will be a supply shortage of 1.1 million barrels per day this year, but it may turn into an oversupply of 1.4 million barrels per day next year.

The source said shortly before the talks at the beginning of the week that despite the pressure to increase production, OPEC+ is worried that the fourth wave of the global new crown epidemic may hit the demand recovery.

ANZ Bank said in a report: “Crude oil has expanded its gains because investors are worried that the energy crisis will push up demand and market supply is tight. Considering the global energy shortage, OPEC+'s growth rate is much lower than market expectations. Not surprisingly, people It is speculated that if demand continues to surge, OPEC will be forced to take action before the next scheduled meeting."

Desmond Tjiang, chief information officer of Conning Asia Pacific, said on Tuesday that the transition to green energy will take longer than expected, but if this time frame is forced to shorten, commodity prices will rise further.

Saudi Arabia’s state-owned oil company, Aramco, said on Tuesday that the country’s flagship oil product, Arabian Light Crude Oil, was lowered to Asia’s official selling price (OSP) in November to a level higher than the Oman/Dubai average price of US$1.30 per barrel; for Northwestern Europe The official price in November was US$2.40/barrel discount to Brent crude oil; for the US, the official price in November was US$1.25/barrel premium to the Argus Sour Crude Oil Index (ASCI).

Inventory data from the United States, the world's largest oil consumer, also showed signs of slowing fuel demand. According to the latest data released by the American Petroleum Institute (API), as of the week of October 1, crude oil inventories unexpectedly increased by 951,000 barrels, an expected decrease of 300,000 barrels; refined oil inventories unexpectedly increased by 345,000 barrels, an expected decrease of 750,000 barrels; Gasoline inventories surged by 3.68 million barrels, an increase far exceeding the expected 150,000 barrels.

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