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September 18 - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 10:00 a.m. on Friday, September 18. Chen Shaowang, spokesperson and vice minister of the Ministry of Housing and Urban-Rural Development, will introduce the relevant situation of promoting high-quality development of housing and urban-rural construction during the 15th Five-Year Plan period and answer questions from reporters.September 18th - According to Axios, US President Donald Trump is planning his first meeting with Venezuelan interim president Delcy Rodriguez as early as next week. Sources say the talks may take place during the UN General Assembly in New York. Trump plans to discuss the situation in Iran with Gulf leaders concurrently and hopes to arrange a meeting with Rodriguez. A Trump advisor stated that Venezuela is one of the Trump administrations key achievements, and Rodriguez is a key figure in promoting US-Venezuela relations. A senior US government official said the meeting is not yet finalized and the final arrangements depend on Trump himself. Trump previously responded "maybe" when asked if he would meet with Rodriguez. Rodriguez assumed power after the capture of former leader Nicolás al-Nimadro in a US military operation and has worked with the Trump administration and Secretary of State Marco Rubio to normalize US-Venezuela relations, including a previously reported major Venezuelan oil deal. The report points out that Trumps side is more focused on domestic political issues such as energy prices and immigration policy than on promoting democratic elections in Venezuela.According to Axios, US President Trump plans to hold his first meeting with Venezuelan interim president Rodriguez as early as next week.Disney (DIS.N) said that pressure from the Trump administration’s previous criticism and regulatory actions against ABC has led it to ask the court to block the Federal Communications Commission (FCC) from reviewing its broadcast license ahead of schedule.Conflict Update: 1. According to Lebanons Al-Ahram newspaper: Saudi Arabia has requested Oman to mediate a two-week ceasefire with the Houthi rebels. 2. Saudi Civil Defense stated that the Houthi rebels launched a drone at Taif, Saudi Arabia. 3. Iranian Revolutionary Guard: At 10:12 AM on the 17th, an advanced air defense system intercepted and destroyed the 53rd US MQ-9 drone over Qeshm Island. 4. UK Maritime Trade Operations Office: A westbound oil tanker reported being pursued and attempted to intercept by a small boat 75 nautical miles east of Aden, Yemen. 5. Trump stated that the war with Iran is approaching a critical juncture, and he needs to decide whether to resume large-scale military operations to push for an end to the conflict. 6. US media: Iranian forces recently shot down at least two US MQ-1 series drones; the specific model involved is currently unclear. 7. Iranian Foreign Ministry: Any act of aggression against Islamic holy sites should be condemned. Meanwhile, the mere claim of intercepting a drone bound for Mecca is insufficient grounds for accusing any particular party, especially since the Houthis have explicitly denied this claim. Other developments: 1. The US approved the Iranian president and foreign ministers trip to New York for next weeks high-level UN General Assembly meeting. 2. Turkeys Ministry of Defense condemned the Houthi drone attack on Saudi Arabia. The Houthi threat to the Red Sea and the Bab el-Mandeb Strait harms global maritime trade. 3. Irans Foreign Ministry, in retaliation for a similar action by Sweden, demanded the departure of a Swedish diplomat. 4. Satellite imagery shows Saudi Arabia is constructing a bypass for a key east-west oil pipeline to bypass pumping stations damaged in previous attacks. 5. Israeli Prime Minister Netanyahu: We must carry this mission through to the end and overthrow the Iranian regime.

Look at $81.62 on NYMEX crude oil

Oct 26, 2021 11:01

On Monday (October 11), international oil prices rose, continuing the previous seven-week streak. Due to supply restrictions by major producing countries, and as economies try to recover from the new crown epidemic, demand for fuel continues to grow. NYMEX crude oil looks at US$81.62 in the market outlook

GMT+8 13:36, NYMEX crude oil futures rose 1.95% to 80.90 US dollars / barrel; ICE Brent crude oil futures rose 1.54% to 83.66 US dollars / barrel. The two cities respectively refreshed their highs since October 31, 2014 to US$81.02/barrel and their highs since October 10, 2018 to US$83.80/barrel.


As more people who have been vaccinated get rid of the lockdown, economic recovery is gaining momentum, and coal and natural gas prices have soared, making oil more attractive as a fuel for power generation, driving the oil market higher. The two major crude oil markets have been rising for seven consecutive weeks.

But as US inventories have increased again after the recent decline, oil prices may begin to falter. Caroline Bain, chief commodity analyst at Capital Investment Macros, said in a report: "We believe that crude oil prices will not rise sharply this quarter, and we still expect a gradual decline next year."

On the daily chart, U.S. oil is in an upward ((3)) wave that started from $61.74 and broke through the 23.6% target of $78.37. The upper resistance looks at the $80 mark and the ((3)) wave 38.2% target of 88.66. Dollar.

On the hourly chart, oil prices are in five upward waves starting from 74.97 US dollars, and the upper resistance looks to the 138.2% target of 81.62 US dollars. Wave 5 is a sub-wave of the upward (1) wave that started at $61.74. (1) Waves are the sub-waves of ((3)) waves.