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August 1st - According to a report by Sky News today (August 1st), FIFA President Gianni Infantino has "abandoned plans to sell a stake in FIFA events, including the World Cup." The report stated that Infantino said, "After carefully listening to all parties, I realize that this project has caused serious divisions. Regardless of the level of support, this situation no longer aligns with our original objectives. Our principle has always been—and always will be—to unite all parties and pursue progress. Therefore, this proposal will no longer be pursued." The statement also said that Infantino "plans to convene all stakeholders for renegotiation in the coming weeks and months, based on a shared concern for football, to commit to the continued development of football globally, especially to provide more support for the development of football in those countries that need it most."According to RIA Novosti, Russian air defense forces shot down more than 21,000 Ukrainian drones over Russian territory in July.According to the Financial Times, Federal Reserve Governor Musaleem said he favors raising interest rates.According to the Financial Times, Federal Reserve Chairman Mossallem stated that the bond sell-off is a warning sign of the Feds credibility.According to Tasnim News Agency, a senior Iranian security official stated that Iran considers the potential US and Israeli plans to attack Iranian infrastructure to be a reckless act. Iran has developed a comprehensive plan that includes targeting critical Israeli infrastructure, as well as US energy infrastructure in the region.

Oil Prices Extend Their Gains Following China's Stimulus Announcement

Haiden Holmes

Apr 27, 2022 09:35

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Oil prices increased in early Asian trade on Wednesday, extending gains from the previous session on China's central bank's announcement that it will bolster the country's economy.


Concerns over demand, on the other hand, weighed on futures as Beijing officials scrambled to contain a nascent COVID-19 outbreak and escape the same crippling city-wide lockdown that has engulfed Shanghai for a month.


By 0019 GMT, Brent crude futures had risen $1.11, or 1.1 percent, to $106.10 a barrel. West Texas Intermediate crude futures in the United States increased by 84 cents, or 0.8 percent, to $102.54 a barrel.


Crude oil prices increased by roughly 3% in the previous session's turbulent activity.


China's central bank announced Tuesday that it will strengthen its economy's prudent monetary policy support. Any stimulus would increase demand for oil.


Meanwhile, Russia's Gazprom (MCX:GAZP) has informed Poland's PGNiG that it will suspend gas deliveries along the Yamal pipeline beginning Wednesday morning, according to a statement from PGNiG. Poland will be required to make payments under a new arrangement on Tuesday, Gazprom said.


The announcement boosted NYMEX ultra-low sulfur diesel futures by more than 9% on Tuesday, settling at a record close of $4.47 per gallon.


In terms of supply, the US government will release data on crude stocks later Wednesday. According to industry figures released Tuesday, US crude and distillate inventories increased last week, but gasoline inventories decreased.

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