EUR/USD 1.18608
0.338%
Gold 5067.16
1.720%
Oil 61.080
0.034%
USD/JPY 153.981
-1.176%
GBP/USD 1.36626
0.194%
GBP/JPY 210.384
-0.984%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The yield on Japans two-year government bonds rose 2 basis points to 1.27%, a new high since 1996.Hyundai Motor: is evaluating a range of collaboration opportunities, including potential collaborations in the field of hydrogen energy, and taking full advantage of Canadas strengths.Hyundai Motor: We currently have no plans to establish a car manufacturing plant in Canada.On January 26th, Tim Kelleher, Head of FX Sales at the Commonwealth Bank of Australia in Auckland, stated, "This is the first time in over a decade that the Federal Reserve has conducted a currency inquiry. Theyve made threats before, but this is a very different approach than their usual practice. We are in a new system... Weve already seen a wave of anti-dollar movements. Theres also been ongoing discussion about a Plaza Accord 2.0, which, if it happens, would be significant and could signal a potential weakening of the dollar."On January 26th, according to an announcement by Li Ning (02331.HK), on January 18th, 2026, Li Ning (China) subscribed to a structured deposit of RMB 700 million from Guangfa Bank; on January 19th, 2026, Li Ning (Beijing) subscribed to a structured deposit of RMB 260 million from Bank of China; on January 19th, 2026, Li Ning (Beijing) subscribed to a structured deposit of RMB 240 million from Bank of China; on January 21st, 2026, Shanghai Li Ning subscribed to a structured deposit of RMB 500 million from Bank of China; and on January 26th, 2026, Li Ning Kids subscribed to a structured deposit of RMB 200 million from China Merchants Bank.

Oil Extends Gains After News of EU Proposal For Russian Oil Ban

Haiden Holmes

May 05, 2022 09:53

O4.png


Oil prices rose up at the start of Asian trade on Thursday, extending gains from the previous session, following the European Union's proposal of further sanctions against Russia, including a six-month crude oil embargo.


By 0:02 GMT, Brent crude futures were up 22 cents to $110.36 a barrel. The price of WTI crude futures increased by 15 cents to $107.96 a barrel.


On Wednesday, both benchmarks increased by more over $5 a barrel.


The plan, announced by European Commission President Ursula von der Leyen and requiring unanimous approval by the EU's 27 member states to become law, calls for the phase-out of Russian crude oil supplies in six months and refined products by the end of 2022. Additionally, it seeks to prohibit EU corporations from providing shipping, brokerage, insurance, and financing services for the shipment of Russian oil within a month.


However, the EU confronts the challenge of finding alternatives as it imports approximately 3.5 million barrels of Russian oil and petroleum products daily and is also reliant on Moscow's gas supplies.


A few eastern European countries are concerned that the stop will not provide them with the time to adapt.


Market traders expected the Organization of the Petroleum Exporting Countries and Associated Producers' meeting on Thursday, dubbed OPEC+.


The group is poised to agree to increase monthly output objectives by 432,000 barrels per day (bpd) in June, according to four OPEC+ delegates.


According to the US Energy Information Administration, oil stockpiles increased marginally last week. Stocks increased by 1.2 million barrels as the US increased the amount of crude released from its strategic reserves. 

Suggestion