EUR/USD 1.16141
-0.097%
Gold 4434.77
-0.854%
Oil 89.430
-0.234%
USD/JPY 156.234
0.280%
GBP/USD 1.35183
-0.046%
GBP/JPY 211.206
0.242%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 6th, it was announced that the Ministry of Finance will soon issue 300 billion yuan in special treasury bonds to support eight central financial enterprises in replenishing their core tier-one capital. On the same day, the Industrial and Commercial Bank of China, Agricultural Bank of China, Export-Import Bank of China, China Export & Credit Insurance Corporation, PICC, China Life Insurance Company, China Taiping Insurance, and China Reinsurance Corporation announced their respective capital increase plans. Industry insiders stated that the Ministry of Finances capital increase for these eight central financial enterprises is a forward-looking arrangement, a proactive measure to support the high-quality development of central financial enterprises and contribute to the steady and sustainable development of the macroeconomy.On September 6, Iranian Armed Forces Chief of Staff Abdollah Abdullah stated that Iran will not surrender to the United States, and that the USs efforts to pressure Iran through "soft power warfare," cognitive warfare, and economic warfare have failed to force Iran to change its stance. Abdullah claimed that the US misjudged Irans potential surrender before taking military action, but this assumption "will not come true." He stated that the US is currently attempting to compensate for its strategic failures in the military field through "soft power warfare," cognitive warfare, and economic pressure, but these measures are also unsuccessful. Abdullah also stated that Iran "has demonstrated a new model of resistance to the world."Lebanese President: Despite the attacks, we remain firmly committed to upholding Lebanons sovereignty and stability in the south.Lebanese President: The attack on the Ministry of Finance building shows a persistent pattern of attacks, reflecting an intent to strike state institutions.Lebanese President: Israels attacks went beyond the scope of the ceasefire agreement and the framework agreement for national institutions.

WTI price falls below the $76 mark amid altering financial dynamics and global growth concerns

Alina Haynes

Mar 14, 2023 11:40

截屏2023-01-13 下午5.17.06.png

 

The West Texas Intermediate (WTI) price is unchanged on Tuesday amid a weaker US Dollar and muted risk sentiment. WTI fell to a low of $72.31 on Monday as a result of a strong risk-off environment sparked by the repercussions from Silicon Valley Bank (SVB) and Signature Banks. Since then, the WTI price has risen significantly as a result of the Federal Reserve's plan to intervene. After reaching a peak of approximately $76 on Monday, the WTI price retreated as the dynamics of the US Dollar shifted.

 

The financial system is being harmed by rising borrowing costs around the world and growth concerns are being raised. The WTI price is in a corrective decline as the narrative of China's reopening does not appear optimistic, as the country has lowered its growth forecast to 5.0%.

 

The SVB debacle exacerbates global growth concerns, as it is interpreted as the first of many financial system dings. Due to rising financing costs, businesses are struggling to make their repayments, which will eventually result in a decline in demand.

 

Despite tightened production and numerous voluntary cuts from the Organization of the Petroleum Exporting Countries (OPEC), the WTI price is struggling to surpass $80.

 

Oil prices are influenced by a number of variables, including the US dollar, inflation, OPEC, and global growth concerns. Considering the aforementioned factors, it is difficult to rationalize the directional nature of oil prices, but it appears that the oil market is primarily driven by development concerns.

 

Since these nations are struggling to maintain oil prices above the desired $80 mark, it will also be crucial to monitor the OPEC position on reduced oil prices.

Suggestion