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On April 30th, Yu Minhong stated that granting equity is a standard employee incentive method for listed companies, and he had initially explicitly refused it. Since the founding of Oriental Selection, he has never received a single penny of salary. However, the board of directors and shareholders believe that without equity incentives, it would be disproportionate to the efforts made for Oriental Selection. Yu Minhong also promised that after the equity is vested and taxes are paid, all cash proceeds will be used for three main purposes: first, to establish a chairmans reward fund to reward employees who have made outstanding contributions to Oriental Selection; second, to donate to the New Oriental Foundation, entirely to support rural primary and secondary school students; and third, to donate a portion to Peking University to help students from rural areas.Piper Jaffray raises its price target for Amazon (AMZN.O) from $260 to $315.On April 30th, Hang Seng Indexes Company Limited announced the launch of four new indices: the Hang Seng Biotech Index Short Position Index, the Hang Seng Biotech Index 2x Short Position Index, the Hang Seng Biotech Index 2x Leveraged Index, and the Hang Seng Biotech Index Dividend Cumulative 2x Leveraged Index. These new indices aim to reflect the performance of short-position or leveraged investment strategies in the Hang Seng Biotech Index, with each strategy investing daily according to a predetermined leverage ratio.Italys unemployment rate in March was 5.2%, below the expected 5.3% and the previous figure revised from 5.30% to 5.4%.April 30 (Interfax) – Russian Deputy Prime Minister Novak said on Thursday that the OPEC+ group of major oil-producing countries will assess various possibilities for supplying oil to the global market at its meeting on Sunday. Novak stated, "In the current situation, supplying oil and petroleum products to the market is crucial. Therefore, it may be necessary to examine existing potential opportunities." Three sources familiar with the discussions told Reuters that despite the US-Israel war in Iraq disrupting most OPEC+ exports and the withdrawal of key member UAE, the organization may still reach an agreement on a slight increase in oil production quotas at its Sunday meeting.

Oil prices fall owing to inflation fears, but expected stock prices rise

Skylar Williams

Jul 20, 2022 11:19

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Under pressure from global central bank efforts to contain inflation and in anticipation of forecasted increases in U.S. petroleum inventories as a result of decreasing product demand, oil prices dipped modestly in early Asian trading on Wednesday.


Brent oil prices lost 39 cents, or 0.5%, to $106.96 per barrel at 00:45 GMT, while U.S. West Texas Intermediate (WTI) crude prices decreased 62 cents to $103.60 per barrel.


Approximately 1.9 million barrels were added to U.S. oil stocks for the week ending July 15, according to market sources citing Tuesday's data from the American Petroleum Institute.


The U.S. Energy Information Administration (EIA) is scheduled to announce official weekly oil and gasoline inventory numbers on Wednesday at 15:30 GMT.


The U.S. 3:2:1 and gasoline crack spreads, which are measures of refining profit margins, reached their lowest levels since April on Tuesday, indicating a fall in fuel demand.


Oil prices bounced drastically in the previous session, caught in a tug-of-war between supply worries due to Western sanctions against Russia and pressures on central bankers' indications that they may increase interest rates to combat inflation.


Friday marked the lowest level of open interest in New York Mercantile Exchange futures since September 2015, as investors cut risky assets such as commodities out of anxiety that the Federal Reserve will continue to raise U.S. interest rates.

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