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Emirates President: Alternative fuel sources are available, but they need to be put into use more quickly.June 9 – US President Donald Trump said on the 9th that negotiations between the US and Iran have entered the “final stage” and an agreement will be reached “within two to three days.” Speaking to reporters at John F. Kennedy International Airport in New York on the 9th, Trump said that Israel and Iran, after “back and forth,” have now “agreed to a ceasefire,” adding, “We are in the final stage and will reach a very, very good agreement.” When asked how long the negotiations would take, Trump replied, “Two to three days.”June 9th - On the afternoon of June 9th, 2026, Xi Jinping, General Secretary of the CPC Central Committee and President of the Peoples Republic of China, returned to Beijing after successfully concluding his state visit to North Korea. General Secretary Xi Jinping, his wife Peng Liyuan, Cai Qi (Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Director of the General Office of the CPC Central Committee), Wang Yi (Member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs), and other accompanying personnel returned on the same plane.The onshore yuan closed at 6.7702 against the US dollar at 16:30 on June 9, up 142 points from the previous trading day.According to the Financial Times, eight aerospace and defense companies, led by Airbus, are planning to form an alliance to develop a European product, primarily German-led, as a replacement for the next generation of Franco-German fighter jets.

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.