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US President Trump: There is a possibility of dialogue with Iran.On March 10th, Invesco Great Wall Fund Management Co., Ltd. issued an announcement stating that the secondary market trading price of its Invesco Great Wall Global Semiconductor Chip Industry Equity Fund (QDII-LOF) (exchange-traded abbreviation: Global Chip, extended abbreviation: Global Chip LOF, trading code: 501225) has experienced significant fluctuations. Investors are advised to closely monitor the funds net asset value per unit. If the premium in the secondary market trading price does not effectively decrease, the fund has the right to apply to the Shanghai Stock Exchange for temporary intraday trading suspension or extend the suspension period to warn the market of the risks. Specific details will be announced at that time. Investors are hereby reminded to pay attention to the risk of premium in the secondary market trading price. Blindly investing may result in significant losses.On March 10, the Hungarian Parliament passed a motion opposing Ukraines accession to the European Union and support for the Russia-Ukraine conflict. The motion calls on the government to support international peace, refrain from providing funds and weapons to Ukraine, and prevent Hungary or the EU from being drawn into the war. The motion also welcomes the government to solicit public opinion on funding Ukraine through a nationwide petition. The motion urges the government to take necessary measures to prevent the EU from continuing to support the conflict in Ukraine; to prevent funds from the Hungarian people or funds that should be allocated to Hungary from flowing to Ukraine; and to reject a budget that allocates the majority of funds that should benefit Hungary to support Ukraine.Parge Biopharmaceutical-B (02565.HK): The trading unit for the main board will be changed from 500 H shares to 50 H shares, effective from 9:00 a.m. on March 31, 2026.A spokesperson for the Qatari Foreign Ministry stated that the Iranian presidents apology statement has not yet translated into concrete actions.

Oil Prices Rise on Expectations of A Tighter Supply As Demand Increases

Aria Thomas

May 25, 2022 09:21

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Oil prices surged in early trade on Wednesday, bolstered by limited supplies and the expectation of increased demand as the U.S. summer driving season begins.


At 00:20 GMT, Brent crude futures for July increased 46 cents, or 0.4%, to $114.02 a barrel. Futures for U.S. West Texas Intermediate (WTI) crude for delivery in July rose 58 cents, or 0.5 percent, to $110.35 per barrel.


Brent increased by 0.1% on Tuesday, while WTI declined by 52 cents.


France's new foreign minister expressed optimism on Tuesday that those remaining opposed to a new EU sanctions package that would phase out Russian oil shipments to the bloc might be persuaded and that the bloc would reach an agreement that would have the impact of constraining global supply.


Meanwhile, a Biden administration official departed for India on Tuesday to discuss U.S. sanctions on Russia over its invasion of Ukraine with Indian officials and private industry executives, according to the Treasury Department, as Washington seeks to prevent an increase in India's purchases of Russian oil. Moscow refers to its efforts in Ukraine as an "extraordinary military operation."


Supply might tighten just as Memorial Day weekend travel in the United States is anticipated to be the busiest in two years, as more Americans hit the road despite coronavirus pandemic restrictions and high fuel prices.


While oil stocks increased by 567,000 barrels last week, gasoline inventories decreased by 4.2 million barrels, according to market sources citing the American Petroleum Institute. Additionally, distillate stockpiles decreased by 949,000 barrels. 


On Wednesday, the U.S. government was due to release stockpile data. In a Reuters survey, analysts predicted that U.S. crude oil and gasoline inventories would fall last week, but distillate inventories would rise. 


In China, Beijing intensified quarantine efforts to stop its month-long COVID outbreak, while in Shanghai, officials aim to maintain the majority of restrictions in place this month, prior to a more comprehensive easing of the two-month-long lockdown on June 1.

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