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August 23 - According to foreign media reports, the US Navy is testing a new air-to-air missile capable of striking targets more than 290 miles (465 kilometers) away, significantly exceeding the range of other known similar weapons. The US Navy states that the AIM-424 "Malice" missile, developed by Raytheon, a subsidiary of RTX Corporation, is roughly the same size as the currently deployed AIM-120 "Advanced Medium-Range Air-to-Air Missile" (AMRAAM). This means the missile can be fitted into the internal weapons bays of F-35 and F-22 stealth fighters. Peter Layton, a former Royal Australian Air Force officer and visiting scholar at the Griffith Asia Institute, stated that while missiles with this range could be used to strike high-value aerial targets such as command aircraft or refueling aircraft, they may be even more valuable for defending ships.On August 23, Iranian Oil Minister Mahmoud Ahmadinejad announced the discovery of a large natural gas field in southern Fars province. The field has proven reserves of over 7.5 trillion cubic feet (TCF), and with an estimated recovery rate of over 72%, approximately 5.7 trillion cubic feet are recoverable. He stated that this natural gas possesses a unique characteristic known as "sweet gas," which reduces development and extraction costs. He also revealed that in addition to this natural gas, Iran has discovered substantial condensate oil reserves, which will bring the country billions of dollars in new wealth.On August 23, it was reported that Nagoya University and Fujifilm have collaborated to develop a novel lipid nanoparticle (LNP) that, for the first time, efficiently delivers capped circular RNA (Cap-cirRNA) into animals, exhibiting a 10-fold increase in activity and extremely low inflammation, opening a new door for next-generation long-acting mRNA therapies. The related paper was published in the latest issue of the journal *Cell Biomaterials*.On August 23, Iranian Foreign Minister Araqchi stated that Iran has never been afraid of US sanctions, and all its actions, whether blockades or military operations, have failed. This new tactic is also destined to fail. Trumps so-called "economic actions" are nothing more than a consistent bullying tactic of US policy. "In a sense, its like a movie weve seen countless times; we know how to deal with it," Araqchi said. He added that whether the US resorts to military action or reverts to its old tricks, it shows they have no other options. Faced with the Iranian people, the US has no choice but to keep repeating the same plans. They should understand that there is no other way but to engage in respectful dialogue with the Iranian people and seek a solution based on justice and honor.August 23 - According to data from online platforms, as of now, the box office revenue (including pre-sales) for the 2026 summer movie season has exceeded 11.5 billion yuan.

Oil Prices Are Low As Markets Assess Iran Tensions And China's Reopening

Haiden Holmes

Jan 30, 2023 11:30

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Oil prices remained in a tight range on Monday due to uncertainty around a drone strike on an Iranian plant and a Russia-led supply glut, despite optimism on a demand revival in China.


A U.S. official linked an Israeli drone strike on an Iranian defense site over the weekend, which might lead to an increase of political tensions in the Middle East and a disruption of global crude supply.


After the Lunar New Year vacation, Chinese markets resumed with a bang, with high expectations that the country's economic revival will be a main driver of oil demand this year. According to reports released over the weekend, travel in the country rebounded significantly during the weeklong holiday, and the government pledged to assist local economic growth.


By 21:33 ET, Brent oil prices increased 0.3% to $86.65 per barrel, while West Texas Intermediate crude futures increased 0.3% to $79.94 per barrel (02:33 GMT). However, both contracts suffered their first weekly loss in three weeks as data indicated a rise in January crude exports from Russia's Baltic ports.


Oil prices are expected to end the month of January roughly unchanged, as traders weigh a potential resurgence in Chinese demand against fears of a worldwide recession in 2019.


While a Chinese rebound is anticipated to finally help crude demand this year, the country is still battling its largest COVID-19 outbreak to date, which has created doubt regarding the timing of any recovery.


The Organization of Petroleum Exporting Countries and its allies (OPEC+) are scheduled to meet on February 1 to determine the cartel's monthly output goals.


In spite of considerable uncertainty regarding the near-term course of oil demand, it is anticipated that the company will essentially sustain current production levels.


Since the beginning of the year, oil prices have fluctuated wildly, with fears of a global recession also playing a role. Despite the fact that the U.S. economy fared better than anticipated in the fourth quarter of 2022, investors are concerned that this momentum may wane as the consequences of tighter monetary policy and relatively high inflation persist.


The markets await this week's Federal Reserve meeting for additional guidance on the world's largest economy. This week also brings key economic statistics from China and the Eurozone.

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