• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Hang Seng Tech Index rose 1%, with Hua Hong Semiconductor (01347.HK) leading the gains with a nearly 5% increase.On September 18, Qatari Minister of State for Foreign Affairs Al-Khulaifi visited the International Criminal Court (ICC) in the Netherlands on September 17 to discuss a legal response under international law to the Israeli attack on Doha. Al-Khulaifi held separate talks with ICC President and Judge Tomoko Akane and Deputy Prosecutor Nazat, focusing on the recent Israeli attack on Doha. Al-Khulaifi reiterated that Israels actions constituted a blatant violation of Qatars sovereignty and that its crimes must be punished under international criminal law. Qatar remains steadfast in its resolve to defend its rights through all legal avenues.The Hang Seng Index in Hong Kong opened at 26,863.69 points, down 44.7 points, or 0.17%, on September 18 (Thursday); the Hang Seng Tech Index in Hong Kong opened at 6,334.32 points, up 0.08 points, or 0.0%, on September 18 (Thursday); the CSI 300 Index opened at 9,574.74 points, down 22.03 points, or 0.23%, on September 18 (Thursday); and the H-share Index opened at 4,322.54 points, up 3.0 points, or 0.07%.At the Hong Kong stock market opening, the Hang Seng Index fell 0.17%, while the Sci-Tech Index opened flat. Tech stocks continued to be active, with Baidu (09888.HK) rising 3.05%. Kaisa Capital (00936.HK) rose 14.5%, as the company undergoes strategic transformation and expands its real-world asset (RWA) tokenization business.Eddie Yue, Chief Executive of the Hong Kong Monetary Authority: The pace of future US interest rate cuts remains uncertain, and short-term Hong Kong interest rates are affected by the supply and demand of funds.

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.