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On September 7, Russian media reported that Russia demanded the closure of the German Consulate General in St. Petersburg, requiring it to cease operations by September 18. Russia also demanded that all Goethe-Instituts within its borders cease operations, and that their staff leave the country by September 13.U.S. Special Envoy for the Middle East, Mr. Witkov: Following President Trumps instructions, U.S. negotiators visited Moscow and Kyiv to advance further dialogue and end the Russia-Ukraine war. In Kyiv, the delegation also met with the national security advisors of the United Kingdom, Germany, and France to discuss pathways for future cooperation. Substantial progress was made by all parties on issues including arranging follow-up trilateral talks.French officials have confirmed that they will provide Ukraine with the SAMP/T air defense system.September 7th - Tonight, the launch of two Xiaomi flagship phones, the Xuanjie O3, signifies that it has officially entered the mass production and commercialization stage. Lei Jun revealed that the Xuanjie O100 and Xuanjie D100 will also be officially commercialized next year, making Xiaomi one of the very few technology companies globally to simultaneously develop mobile SoCs, AI acceleration chips, and intelligent driving chips. Lei Jun stated that in the chip field, Xiaomi is still a latecomer, and todays achievements only mean the beginning. "No matter how many difficulties lie ahead, we firmly believe that as long as we start catching up, we are on the road to victory."September 7th - Tonight, Xiaomi launched its new "mid-folding" flagship, the Xiaomi 18 Fold, a project that took over 20 months to develop. This is Xiaomis most high-end flagship phone to date, and the first time Xiaomi has incorporated a mid-folding design into its flagship series. The Xiaomi 18 Fold is equipped with Xiaomis self-developed O3 AI flagship processor, Xiaomi Surge OS 4, and Xiaomi MiMo on-device model, marking the first time that Xiaomis three self-developed technologies—chip, AI, and OS—have been combined on a single device.

WTI recovers to $87.50 on Iran, OPEC+ buzz

Daniel Rogers

Sep 02, 2022 14:38

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WTI crude oil prices consolidate weekly losses near a two-week low in Friday's Asian session. The energy benchmark hails the expected output drop from major suppliers while ignoring US-Iran oil deal discussions. The market's consolidation before the US jobs data seems to favor the latest commodity bounce.

 

Reuters reports that OPEC+ will meet on September 5 amid a backdrop of dropping prices and demand, even as top producer Saudi Arabia claims supply remains tight. OPEC+ this week reduced its demand estimate, now projecting demand to lag supply by 400,000 bpd in 2022 and 300,000 bpd in 2023.

 

On a second page, Reuters sources Iranian official news as claiming Iran has given a 'constructive' response to US suggestions aimed at restoring the 2015 nuclear deal.

 

Covid-led lockdown in China's Chengdu joins gloomy Manufacturing PMIs and hawkish Fedbets to squeeze WTI crude oil prices.

 

US 10-year Treasury rates decrease one point from late June's highs to 3.25 percent, while two-year bond coupons fall from a 15-year high. The CME's FedWatch Tool predicts a 74% chance of a rate hike in September, up from 69%.

 

Looking ahead, oil traders will watch the US Nonfarm Payrolls (NFP) and Unemployment Rate for August for fresh impulse.

 

Although $85.30-50 horizontal support limits the black gold's immediate fall, recovery is elusive until reaching the 50-DMA and 200-DMA, around $95.15-30.