EUR/USD 1.15863
0.101%
Gold 4349.19
0.346%
Oil 84.442
0.159%
USD/JPY 159.301
-0.193%
GBP/USD 1.35422
0.081%
GBP/JPY 215.732
-0.105%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 19th, Iranian Foreign Minister Araqchi stated in an interview broadcast on August 18th that the recent military conflict between Iran and the US and Israel proves that relying on external military forces and bases cannot guarantee the security of Gulf countries. Araqchi pointed out that the presence of US troops and military bases not only fails to provide security guarantees for the countries involved, but has instead become a factor undermining security; countries without US military bases are actually safer. Araqchi also stated that Iran is not seeking merely a ceasefire, but hopes for a complete end to the war and does not want to fall into a cycle of short-term ceasefires followed by renewed fighting.Russian officials said that after a drone crashed in the Ufa industrial zone, authorities are working to extinguish a small fire.On August 19th, Joey Chew, Head of Asian FX Research at HSBC, stated that with the yen gradually weakening again, the Bank of Japan (BOJ) has an opportunity to support the yen through a hawkish rate hike at its next meeting in September. The market currently expects the BOJ to raise interest rates by a cumulative 80 basis points over the next 12 months, bringing the rate to 1.8%. Meanwhile, HSBCs economic research team now predicts that the BOJ will raise rates twice more, in September and the first quarter of 2027, ultimately reaching a rate of 1.5%. HSBC previously only predicted a single rate hike by the BOJ in December. In a report, Joey Chew pointed out that the key to the yens continued recovery depends on whether real interest rates become more attractive, whether fiscal concerns ease, and whether Japanese residents shift from overseas assets to domestic assets.Russian authorities in Ufa claim that drones attacked industrial facilities.The Nikkei 225 index fell by more than 3%.

News Lifts Oil The EU May Cut Off Russian Oil Imports

Charlie Brooks

Apr 15, 2022 09:50

R1.png


In April, both contracts posted their first weekly gain. Prices have been the most volatile in recent weeks since June 2020.


According to the New York Times, the European Union is considering a phased-in embargo on Russian oil to provide Germany and other nations time to secure alternative supply.


A phased-in prohibition would compel European purchasers "to seek alternate sources, some of which are being provided in the short term via Strategic Petroleum Reserve releases, but in the future, more supplies from the ground would be necessary," Lipow Oil Associates' Andrew Lipow said in Houston.


The International Energy Agency warned on Wednesday that around 3 million barrels per day of Russian oil might be shut down starting in May as a result of sanctions or importers intentionally avoiding Russian supplies.


According to Reuters, major global trading houses aim to reduce their imports of crude and gasoline from Russia's state-controlled oil corporations in May.


Russia's Energy Ministry said that access to its data on oil and gas production and exports will be restricted.


Trade will remain "a little anxious" while the conflict between Russia and Ukraine raged on and nations considered banning Russian imports, Price Futures Group analyst Phil Flynn said.


"The key issue will be how many individuals want to be oil short heading into the long weekend."


Traders also changed their positions on Thursday, when May crude oil options in the United States expire.


According to industry analysts, US oil production predictions are being revised upward despite labor and supply chain restrictions, as higher prices stimulate additional drilling and well completion activities.


US oil rigs increased by two to 548 this week, the highest level since April 2020, according to energy services company Baker Hughes.


The US Energy Information Administration said on Wednesday that the United States' oil reserves increased by more than 9 million barrels last week, owing in part to strategic reserve releases. According to a Reuters survey, analysts expected just an 863,000-barrel gain.


On the demand side, Chinese refiners are set to reduce crude throughput by about 6% this month, a level last seen in the early days of the COVID-19 pandemic two years ago, industry sources and analysts said. The move is intended to relieve pressure on bulging fuel inventories following recent lockdowns.

Suggestion