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The Russian Ministry of Defense reported that Russian troops liberated 172 buildings in Konstantinovka, the "Donetsk Peoples Republic," while Ukrainian troops suffered 40 casualties.On June 13, the Islamic Republic of Iran Broadcasting reported that Iranian officials announced the funeral arrangements for the late Supreme Leader Ayatollah Khamenei.June 13th - According to the Financial Times, US investment groups are seizing the opportunity presented by Trumps ouster of Maduro to aggressively acquire Venezuelas underutilized oil fields. Miami-based Lionheart Capital has taken the lead, signing a letter of intent to merge its listed shell company, Lionheart Holdings, with Keo Energy, which owns oil field assets in Venezuela. Sources say the merger would create the first Venezuelan oil company listed on Nasdaq, providing direct investment access for US and institutional investors. The report states that Lionheart plans to list the oil company at a valuation of approximately $1 billion through the merger; its shell company, Lionheart Holdings, raised $230 million in 2024. Sources indicate that negotiations are still in the early stages and have not yet been finalized, and may fall through. Lionheart Holdings plans to hold a shareholder vote next week to gain more time to find acquisition targets, otherwise it may face liquidation.Polish Prime Minister Donald Tusk announced on Saturday that Poland will end its fuel price cap this summer, citing expectations of a de-escalation of the conflict involving Iran and price stabilization. In March, the Polish government announced a reduction in the fuel value-added tax (VAT) from 23% to 8%, lowered the excise tax to the lowest level in the EU, and began daily price caps on motor vehicle fuels. These measures have been extended every two weeks since their implementation. This Friday, Poland decided to extend the VAT exemption and price cap on gasoline and diesel until the end of June, but did not extend the excise tax exemption. Tusk stated, "Throughout the crisis, our fuel prices have been the cheapest in Europe, but we will end this measure this summer."On June 13th, Lei Jun, Chairman of Xiaomi Group, posted on Weibo that Xiaomi Auto highly values testing, investing heavily in its testing efforts. Currently, the entire testing team comprises over 800 people, more than 45% of whom are experts with over 10 years of experience. This team has completed over 35 million kilometers of testing in more than 300 cities. Xiaomi Auto has 126 laboratories in four cities: Beijing, Nanjing, Shanghai, and Wuhan, covering a total area of over 65,600 square meters. Additionally, it has rented two comprehensive vehicle testing grounds in Yancheng, Jiangsu, and Guangde, Anhui. There is also a dedicated team of approximately 500 people conducting extreme environment testing. They are divided into summer and winter testing teams, primarily responsible for testing in four extreme environments: Heihe (high-altitude and frigid), Turpan (high-temperature), Kunlun Mountains (high-altitude), and Hainan (high-humidity).

Putin stated that he will hit the price of natural gas! The United States is considering using oil reserves, and oil prices are temporarily holding back

Oct 26, 2021 10:59

On Wednesday (October 6), natural gas prices in Europe ushered in a sharp drop after two days of skyrocketing. In the previous two days, they had risen by 60%, while oil prices fell back by more than 2%. Russian President Vladimir Putin stated that Russia will increase its supply of natural gas to Europe to alleviate the impact of the global energy contraction suffered by Europe. At the same time, the US government is considering using emergency oil reserves to ease the trend of soaring gasoline prices. There is also news that Russia and the United States are discussing reopening the Iran nuclear agreement.


Russian President Vladimir Putin said on Wednesday that the sales of natural gas to Europe may hit a record high, and the flow of natural gas transported to Europe through Ukraine may exceed the contract between the Russian state-owned natural gas company Gazprom and Kiev, Ukraine. Critics have accused Russia of blocking supplies.

This argument caused European natural gas prices to collapse. Natural gas futures prices fell by more than 10% since the highest price since 2008, which was the day before, and crude oil also fell.

Matthew Weller, head of global research for FOREX.com and City Index, said Wednesday that Wednesday brought some good news for energy-stressed European countries, as Russia increased its natural gas exports to Europe. These news broke the well-known natural gas price increase at least temporarily.

Data from FactSet shows that British natural gas futures prices have soared by more than 400% so far this year.

On the same day, U.S. Secretary of Energy Granholm said that the U.S. government is considering using emergency oil reserves to ease the trend of soaring gasoline prices. With the cooling of the new crown epidemic and increasing demand, US gasoline prices have hit a seven-year high.

Granholm said at the Energy Transition Summit organized by the Financial Times when he talked about the prospect of the US government using the Strategic Petroleum Reserve (SPR) to ease the rise in oil and motor fuel prices, "This is a tool under consideration."

According to data from the US Department of Energy, SPR stored in coastal caves in Texas and Louisiana currently contains approximately 617.8 million barrels of crude oil, the lowest level in approximately 18 years.

Granholm also did not rule out the possibility of resuming the crude oil export ban, which was lifted when Obama assumed the presidency in 2015. She said, "This is a tool we haven't used before, but it's also a tool."

The EIA crude oil and gasoline inventory data released on Wednesday both recorded an increase, sparking concerns about weak demand and a negative effect on oil prices. EIA crude oil inventories increased by 2.345 million barrels, and gasoline inventories increased by 3.256 million barrels. Refined oil inventories fell only slightly by 396,000 barrels.

U.S. oil production increased to 11.3 million barrels per day, recovering from the shutdown caused by the storm more than a month ago, and production rebounded to near the peak during the epidemic, but still far below the 13 million barrels per day set in 2019 Record.

According to another report, the Russian Ministry of Foreign Affairs said on Wednesday that Russian Foreign Minister Lavrov had discussed the restoration of the Iranian nuclear agreement with US Secretary of State Brinken. Restarting the previously shelved Iran nuclear agreement may affect the confidence of the oil market bulls.

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