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Real-time News
The International Monetary Fund (IMF) says the energy shock from the Middle East wars is not over yet; global debt pressures are mounting and the process of inflation falling has stalled.On September 10th, Guan Zhiou, Secretary of the Hubei Provincial Party Committee, met with Robin Li, founder, chairman, and CEO of Baidu Group, in Wuhan. Guan Zhiou expressed his hope that Baidu Group would continue to deepen its presence in Hubei and strengthen cooperation in areas such as artificial intelligence and geospatial information to achieve mutual benefit and win-win development. Hubei will adhere to the principle of "responding to every request and not interfering unnecessarily," striving to create a first-class business environment and provide favorable conditions for Baidu Groups development in Hubei.On September 10th, Vitol Group CEO Russell Hardy and several traders attending a meeting in Singapore this week stated that refined petroleum product exports through the Strait of Hormuz are slowly recovering, but the pace is insufficient to stem soaring fuel prices, which are squeezing global consumers. At least 1 million barrels of refined petroleum products are currently transported daily through this disputed waterway in the region. Data from tanker tracking agency Vortexa shows similar levels, compared to approximately 4 million barrels per day (excluding liquefied petroleum gas) before the war. According to traders at the Singapore meeting, part of the slow recovery in fuel shipments in the region is due to the difficulty in finding tankers to load cargo. Despite the risk of attacks, some shipowners are still willing to transport crude oil through the Strait of Hormuz because soaring Very Large Crude Carrier (VLCC) freight rates make the voyages profitable. However, refined petroleum products are typically transported by smaller vessels, requiring more voyages and posing greater risks. According to two people familiar with the companys operations, Saudi Aramco exports approximately 500,000 barrels of refined petroleum products per day, but the majority of these are shipped from refineries along the countrys Red Sea coast. These sources say the company has shipped very little fuel from Rastanura, a major export point in the Persian Gulf, to date, as it remains difficult to charter tankers willing to serve the route. Exports from Yemen are also under pressure due to the threat posed by the Houthi rebels in the Red Sea.On September 10, the Israel Defense Forces (IDF) issued a statement saying that it killed Ismail Ibrahim Darwish Qandir, a member of Hamass Nuhba forces, in an operation conducted on September 7 in Khan Younis, southern Gaza Strip. The IDF stated that Qandir had participated in the October 7, 2023 attack and was directly involved in the operation that resulted in the death of an IDF commander from the Nahar Brigade.Goldman Sachs has raised its Q4 2026 forecast for TTF natural gas prices to €70 per megawatt-hour.
