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Japans broad money liquidity annual rate was 1.9% in August, compared with 1.6% in the previous month.Japans M3 money supply annual rate in August was 0.8%, compared with 0.60% in the previous month.Japans M2 money supply annual rate was 1.3% in August, compared with 1.00% in the previous month.On September 9, Democratic members of the U.S. Senate Banking Committee demanded that Milan, the Republican-controlled Senate Banking Committee, must commit to resigning as the White House chief economic adviser by September 8 before he can take further steps to advance his nomination. Milan said at his nomination confirmation hearing last week that he only needs to take unpaid leave from the White House Council of Economic Advisers because his position at the Federal Reserve will only last until the end of January next year. Democratic senators pointed out that Milans term may be longer, depending on how long it takes to confirm his successor, and that Milans dual role as a Federal Reserve governor and Trump adviser creates a potential conflict. "It is ridiculous to think that you can make independent judgments on monetary policy and financial regulation. Without such a commitment, we believe the committee should not advance your nomination," the Democratic lawmakers said in a letter to Milan.Nebius, an AI infrastructure company, announced on September 8th that it has signed a commercial agreement with Microsoft. Under the agreement, Nebius will provide Microsoft with dedicated GPU infrastructure capacity at its Vineland, New Jersey, data center over a five-year period. The GPU services will be deployed in multiple batches in 2025 and 2026. Subject to deployment and GPU service availability, the total contract value is approximately $17.4 billion through 2031. Microsoft may also acquire additional services and/or capacity under the agreement, increasing the total contract value to approximately $19.4 billion.

Oil prices fall as demand concerns outweigh supply restrictions

Skylar Williams

Jul 21, 2022 11:14

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Oil prices dipped for a second consecutive session on Thursday, as concerns over demand outweighed a tight global supply following the release of U.S. government data suggesting sluggish gasoline consumption during the peak summer driving season.


Brent oil futures shed 37 cents, or 0.3 percent , to $106.55 a barrel at 0003 GMT. WTI oil futures slipped 33 cents, or 0.3 percent , to $99.55 a barrel.


Oil prices have fluctuated since traders have had to balance a tighter global supply due to the loss of Russian barrels as a result of the country's invasion of Ukraine with recessionary worries that might lower energy use.


According to data issued by the federal government on Wednesday, gasoline stocks in the United States climbed by 3.5 million barrels last week, which is much more than the 71,000-barrel increase projected by experts in a Reuters survey.


The data indicated that gasoline output, a proxy for demand, was around 8.5 million barrels per day, or 7.6 percent less than during the same time period in the previous year.


Vivek Dhar, a commodities analyst at Commonwealth Bank, wrote in a research, "We expect Brent oil futures to fall below $100/bbl by the end of the fourth quarter of 2022."


Following the termination of force majeure on oil exports last week, the National Oil Corp of Libya stated that crude oil production had resumed at several oilfields.


One of Canada's primary oil export conduits, the Keystone pipeline, was operating at reduced rates for a third straight day on Wednesday, operator TC Energy (NYSE:TRP) said in a statement, while repairs to a third-party power plant in South Dakota continued.

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