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May 14th news, photomask (plate) is a mold required for the production of integrated circuits. It is a structure used for selective exposure of photoresist coatings. Its principle is similar to using negative film to copy images onto photos when developing photos. South Korean technology media The Elec reported today that Samsung Electronics is planning to outsource the production of photomasks required for memory chip manufacturing. It is said that Samsung has started the supplier evaluation process. Candidate companies include Tekscend Photomask, a subsidiary of Japans Toppan Holdings, and PKL, a subsidiary of the United States Photronics. The evaluation results are expected to be announced in the third quarter.On May 14, Morgan Stanley said that JD.com (JD.O) raised its revenue and earnings growth expectations for the group and retail business (JDR) to double digits in 2025, which is good for the stock price; but the takeaway business did not provide loss guidance, which may lead to further downward adjustment of earnings expectations for the rest of 2025. Analysts Eddy Wang and others said in the report that JD.coms total revenue is expected to increase by 13% year-on-year in 2025. The bank lowered its earnings forecasts for JD.com in 2025, 2026 and 2027 by 14%, 7% and 5% respectively to reflect the investment in the takeaway business. Maintain the "Equal Weight" rating and lower the target price of American depositary receipts to US$39.Futures news on May 14, oil prices continued to rise, operating confidence of fuel oil market players improved, refineries maintained shipment prices, downstream processing profits were low, enthusiasm for purchasing high-priced resources was not good, the market was dominated by supply and demand, and todays market is expected to have a slight increase at a low level, and will mostly stabilize after falling from a high level.Goldman Sachs said on May 14 that the likely direction of the USD/Asian currency pair is still down after the recent progress in trade negotiations. It said that despite the recent progress in trade negotiations between China and the United States, the main themes of the market have not changed. These themes are: the trend of gradually diversifying investments from US assets should continue; Asian exporters should continue to convert US dollars into local currencies; if the Asian region conducts trade negotiations with the United States, it may be more difficult for its currency to depreciate.South Koreas unemployment rate was 2.7% in April, in line with expectations of 3% and the previous value of 2.90%.

The U.S. Strategic Petroleum Reserve Has Fallen to Its Lowest Point Since 1987

Charlie Brooks

May 17, 2022 09:50

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The volume of crude oil in the U.S. Strategic Petroleum Reserve (SPR) decreased by 5 million barrels during the week ending May 13.


Stockpiles from 1987, to 538 million barrels in the Strategic Petroleum Reserve (SPR).


According to the data, approximately 3.9 million barrels of sour oil and 1.1 million barrels of sweet crude were discharged onto the market.


President Joe Biden announced in March the largest release ever from the U.S. emergency oil reserve, 1 million barrels per day (bpd) of crude oil for six months, in an effort to reduce gasoline prices that had skyrocketed due to Russia's invasion of Ukraine.


Prior to that, the United States had agreed to release 30 million barrels of SPR oil in March and 50 million barrels from SPR in November.


The price of a barrel of crude oil in the United States has increased by over 25 percent to nearly $114 due to market concerns about a supply shortage. This week, retail gasoline and diesel prices reached all-time highs as fuel demand returned to pre-pandemic levels and refining capacity fell.


The 180 million-barrel discharge was the third time in the previous six months that the United States had tapped the Strategic Petroleum Reserve.


Winners of the most recent SPR auction were Valero Energy Corp (NYSE:VLO), Motiva, Exxon Mobil (NYSE:XOM), Shell (LON:RDSa), Phillips, and Marathon Petroleum Corp. (NYSE:MPC).


According to U.S. Customs data, ship tracking, and an industry source, at least three vessels carrying crude oil from U.S. emergency stocks set sail for Europe in April as European refiners rushed to replace Russian crude supplies.

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