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Johny Srouji, Apples (AAPL.O) senior vice president of hardware technology, recently told CEO Tim Cook that he is considering leaving the company in the near future.Musk: Many media reports claim that SpaceX is raising funds at a valuation of $800 billion, which is inaccurate.On December 7th, French President Emmanuel Macron announced on December 6th that he would travel to London on the 8th to meet with Ukrainian President Volodymyr Zelensky, British Prime Minister Keir Starmer, and German Chancellor Andrea Merz to jointly assess the current situation in Ukraine and the peace negotiations being conducted under US mediation. Macron stated that the situation in Ukraine is related to the security of the whole of Europe, and Europe will continue to work with the United States to provide security guarantees for Ukraine.Indian government: Diesel sales in India rose 4.7% year-on-year in November, while gasoline sales rose 2.6% year-on-year.On December 6th, European Central Bank (ECB) Governing Council member Rehn stated that the medium-term inflation risks in the Eurozone are slightly tilted to the downside. He cited "relatively low energy prices, the appreciation of the euro, and expectations of slower inflation in the services and wage sectors" as downside factors. Factors pushing up inflation include "potential impacts on supply chains from geoeconomic fragmentation" and a stronger-than-expected economic rebound that could lower the savings rate. Rehn said, "We need to pay attention to both upside and downside risks." He refuted suggestions from some colleagues that another rate cut should be subject to high thresholds. Rehn stated, "We shouldnt impose any unnecessary constraints on our monetary policy, whether high or low thresholds. Its best to follow our strategy and be consistent in word and deed. I believe we will." When asked about ECB President Lagardes recent comments that the central bank is in a "good but not fixed" position regarding interest rates, Rehn agreed.

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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