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On January 27, Bernd Lange, Chair of the European Parliaments Committee on International Trade, stated on social media that the European Parliament had not yet decided on whether to resume the ratification process for the EU-US trade agreement. A decision would be made later by the European Parliaments negotiating team. According to Langes announcement, the European Parliaments Committee on International Trade is scheduled to meet on February 23-24. Prior to that, the European Parliaments negotiating team will make a decision on this issue. Lange also said that the European Parliaments negotiating team will meet on February 4 to reassess the current situation.January 27 - On January 26 local time, Ukrainian President Volodymyr Zelensky signed a bill extending the state of war and general mobilization order for another 90 days, until May 4.Hang Seng Index futures closed up 0.5% at 26,883 points in overnight trading, a premium of 117 points.On January 27th, Ukrainian President Volodymyr Zelenskyy stated on January 26th that a new round of trilateral talks between Ukraine, the United States, and Russia might be held this Sunday, February 1st. The first trilateral meeting of the working group on security issues, composed of representatives from Russia, the United States, and Ukraine, concluded on January 24th in Abu Dhabi, the capital of the United Arab Emirates. US Presidential Envoy Witkov posted on social media on January 24th that a new round of trilateral talks is planned to be held next week in Abu Dhabi.The White House: U.S. citizens have no right to obstruct immigration enforcement actions.

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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