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A senior Ukrainian official said that Russian ballistic missiles struck the Ukrainian capital, Kyiv.Conflict Situation: 1. Trump threatens to strike Irans "Ghoshka" underground nuclear facility. 2. The US military announces its third consecutive night of strikes against Iran. 3. The US military uses unmanned surface vessels for the first time in its strikes against Iran. 4. Satellite images show a precision strike on the US Al Udeid Air Base in Qatar. 5. Iranian Revolutionary Guard: Attacks a US military base in Kuwait. 6. Jordan claims to have intercepted and shot down four missiles that entered its airspace from the direction of Iran. 7. Iranian Revolutionary Guard: Strikes a US military facility in Bahrain and destroys a radar system in Oman. 8. US Central Command: The US military did not launch a strike on Irans Kharg Island. 9. Iran: In the fourth phase of retaliatory strikes against US targets in the region, it destroyed two HIMARS rocket artillery systems and ammunition depots. 10. Iranian Army air defense forces intercepted and shot down a US Lucas drone near Bandar Abbas. 11. Iranian military sources say Iranian forces have launched drone strikes against US military facilities and equipment in Kuwait. Iran also targeted a "hostile" US ship with a cruise missile. 12. Yemens Sanaa International Airport was subjected to multiple Saudi airstrikes. The Saudi attack was carried out after an Iranian aircraft entered Yemeni airspace. 13. Yemeni government: Houthi rebels hijacked an International Committee of the Red Cross aircraft. 14. Houthi leader in Yemen: Will target key Saudi infrastructure. US-Iran Negotiations 1. UN Secretary-General urges the US and Iran to resume negotiations. 2. Iranian Foreign Ministry: The memorandum of understanding with the US has entered a "crisis" phase. Iran will not fulfill its commitments in the memorandum of understanding unless the US does not fulfill its commitments. 3. Iranian Foreign Ministry: Claims that Iran requested negotiations are part of psychological warfare waged by the US. 4. Iranian Foreign Ministry: We have recently maintained contact with Qatar, Oman, and Pakistan, and communication will continue. Strait of Hormuz 1. Iran: The Strait of Hormuz remains closed. 2. Iran stated that ships sailing along parallel routes to the US in the Strait of Hormuz will face risks. 3. Iranian Foreign Minister: Consultations with Oman on the management of the Strait of Hormuz will continue. 4. Irans Straits Authority: Resumption of passage requires stabilization of the situation. 5. Advisor to Irans Supreme Leader: We will never back down on the Strait of Hormuz issue. 6. Irans Supreme Joint Military Command: Iran will not allow the US to interfere in the management of the Strait of Hormuz. 7. Dubai plans to build a new port to bypass the Strait of Hormuz. 8. Irans Revolutionary Guard: Ships violating regulations again will face decisive punishment; if the US attempts to solidify violations, it will be punished again. 9. Trump: Immediately reinstate the blockade of Iran, charging a 20% fee on cargo transport. 10. Iranian Foreign Minister: Charging a fee to ensure passage through the strait is necessary, but Trumps 20% fee is too high. 11. The US military will begin implementing a maritime blockade of all Iranian ports and the Iranian coast at 04:00 Beijing time on July 15th. The blockade applies to all ships. 12. Joint Maritime Information Centre (JMIC): The threat level for passage through the Taiwan Strait remains "serious." Further deliberate hostile activities are possible. Other developments: 1. Iran lifts export ban on petrochemical products. 2. The UK designates the Iranian Revolutionary Guard as a terrorist organization. 3. Iranian Foreign Ministry: Iran will not agree to IAEA Director General Grossis request to access damaged nuclear facilities. 4. French Foreign Minister: Sanctions will not be lifted as long as Iran does not abandon its nuclear program. 5. European Commission: Launches the "Gaza Team Initiative," raising €883.6 million in financial contributions. On July 14th, local time, the Iranian military issued a statement saying that in response to the recent provocations and aggression by the United States against Iran, hours earlier, Iranian forces launched suicide drone strikes against the communication systems, fuel storage facilities, Patriot air defense systems, control towers, and ammunition depots of US troops stationed in Kuwait. In addition, in response to the US missile attacks on some Iranian military facilities, the Iranian Navy launched cruise missiles to strike US warships. The Iranian military stated that its defensive strikes against enemies who violate their commitments will be adjusted according to the severity of the enemys aggression and will continue to be carried out forcefully.The U.S. Commodity Futures Trading Commission (CFTC) has approved the final rule to amend margin requirements for unsettled swaps.July 14 - On July 13 local time, South Carolina Governor Henry McMaster announced that Darlene Graham Nodonne, the sister of the late Republican Senator Lindsey Graham, will complete the remainder of Grahams term.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.