EUR/USD 1.15561
-0.119%
Gold 4135.51
0.610%
Oil 57.814
-2.288%
USD/JPY 151.973
-0.211%
GBP/USD 1.32745
-0.442%
GBP/JPY 201.746
-0.639%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 14th, Guangzhou Hengyun A announced that it expects net profit attributable to parent company shareholders for the first three quarters of 2025 to be between 345 million and 515 million yuan, representing year-on-year growth of 87.83% to 180.38%. The companys operating performance increased during the reporting period, primarily due to the increased operating efficiency of its power generation business, which was driven by the commissioning of its Shantou photovoltaic project, the increase in on-grid electricity prices for its gas-fired power projects, and the year-on-year decline in coal prices, as well as the impact of year-on-year increases in investment income.On October 14th, ING Bank economist James Smith stated in a report that slowing wage growth and a slight rise in unemployment in the UK justify further interest rate cuts. "Just as the Bank of England is preparing to slow the pace of rate cuts, the latest employment report shows that its work is not yet done," he said, noting that private sector wage growth, a long-standing headache for the Bank of England, is finally showing more pronounced signs of a decline. While this trend has been factored into the Bank of Englands forecasts, actual wage growth has consistently exceeded most economists expectations in recent years. Smith stated that a December rate cut is possible, but currently, the Bank of England appears more likely to act in February of next year.China Resources Land (01109.HK): In September 2025, the total contract sales amount was approximately RMB 17.6 billion, and the total contract sales area was approximately 610,000 square meters, representing year-on-year increases of 4.2% and decreases of 30.2% respectively.According to Hong Kong Stock Exchange documents, HSBC Holdings (00005.HK) repurchased 4.3 million shares for HK$433 million on October 13.The onshore RMB closed at 7.1411 against the US dollar at 16:30 on October 14, down 82 points from the previous trading day.

Shale firms perceive the U.S. put as inadequate to grow oil output

Skylar Williams

Oct 24, 2022 14:13

119.png


This week, U.S. shale oil CEO Matt Gallagher sponsored a Twitter poll to gauge sentiment over President Joe Biden's suggestion to stock the U.S. emergency oil reserve at roughly $72 per barrel to incentivize companies to drill more.


Nearly 80% of respondents do not anticipate oil futures to fall to a level that would trigger U.S. purchases in the coming year, eliminating any boost from the "U.S. put" or the use of potential Strategic Petroleum Reserve purchases to set a minimum price for new oil production.


The CEO of the consulting firm PetroNerds, Trisha Curtis, slammed the offer, noting that the news created the impression that he was throwing the oil business a bone.


"What if oil prices do not drop to that level? Simply maintain a modest level of reserves? "She inquired.


Biden announced the final sale of 180 million barrels and the repurchase price. "He is aiming to strike a difficult balance between expanding his green constituency and reducing fuel prices. Likewise, he did neither, "said Curtis.


A Department of Energy spokesperson was not immediately available for comment.


Abhiram Rajendran, director of the consultancy firm Energy Intelligence, indicated that a price of roughly $70 per barrel of oil "is a price at which supply does not expand."


According to Hunter Kornfeind, oil market analyst at Rapidan Energy Group, people and equipment shortages and high expenses prevented a production boom despite the fact that U.S. oil prices surpassed $120 per barrel this year.


Rebecca Babin, a senior energy trader at CIBC Private Wealth, noted that projections for oil prices through 2024 had increased due to declining supply. She indicated that this transpired apart from the SPR offer.


According to Kornfeind, oil producers can lock in a sales price for future production similar to the amount specified for SPR purchases, as oil futures until mid- to late-2024 are trading around $72 per barrel.


Frank Macchiarola, senior vice president of the American Petroleum Institute, remarked that if the Biden administration wishes to expand oil supplies, it must "change its policy towards the production of additional oil and gas in the United States."

Suggestion