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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.

NYMEX crude oil is approaching a seven-year high again, OPEC+ accurately grasps the weakness of the United States

Oct 26, 2021 10:58

On Tuesday (October 5), international oil prices continued a new wave of gains triggered by the previous trading day. Earlier, the world’s major oil-producing countries announced their decision to maintain the current pace of increasing production. Crude oil-consuming countries feared that this would undermine the recovery from the epidemic.

GMT+8 15:45, NYMEX crude oil futures rose 0.36% to 77.91 US dollars/barrel; ICE Brent crude oil futures rose 0.55% to 81.70 US dollars/barrel. The two cities closed up 2.27% and 2.56% respectively overnight, and set a new high of US$78.38/barrel since November 10, 2014 and a new high of US$82/barrel since October 14, 2018.


The Organization of the Petroleum Exporting Countries and Russia's oil-producing allies (OPEC+) said on Monday (October 4) that they will stick to the existing agreement-increasing production by 400,000 barrels per day each month, ignoring the demands of major oil-consuming countries such as the United States and India to accelerate production. Call.

A senior aide to US President Biden discussed a series of issues during a meeting with Saudi Crown Prince Mohammed in Saudi Arabia last week, calling oil prices "worrying." India, another major oil consumer, is also struggling to demand an increase in oil supply.

Demand rebounded rapidly, and supply was disrupted by various factors, including the hurricane that severely damaged US production, and the low level of investment in the entire industry when demand fell sharply during the worst of the epidemic. Oil prices have soared by more than 50% this year, which has increased inflationary pressures.

Crude oil-consuming countries generally believe that the global economy has slowly recovered from the epidemic, and the prospects for oil demand are promising. However, sources in the oil-producing countries revealed shortly before the vote that despite the pressure to increase production, OPEC+ is concerned that the fourth wave of the global new crown epidemic may hit the demand recovery.

The organization agreed in July to increase production by 400,000 barrels per day at least until April 2022, in order to gradually end the current 5.8 million barrels per day production reduction plan. The current reduction in production has been much lower than the reduction in production during the worst period of the epidemic.

Russian Deputy Prime Minister Novak said after the meeting: "We will pay close attention to the situation. We know that demand usually declines in the fourth quarter. Our plan to increase (output) is progressing steadily. We will pay close attention to how the market will achieve it. balance."

Capital Investment Macro said: “We expect that the gradual normalization of demand growth and the rebound in supply will have an impact on oil prices from the fourth quarter. OPEC+ increases production and this dynamic will be reversed."

Avtar Sandu, Senior Commodity Manager of Phillip Futures in Singapore, said: "In the short term, the oil market may increase volatility... However, the main trend remains intact, and a deep correction will provide buying opportunities."

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