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Israel has stated that it has identified a missile launch originating from Iran and that its air defense systems are operational to intercept the threat.Futures News, April 3rd: 1. From April 3rd to 4th, affected by cold air and a surface cyclone, strong winds and temperature drops are expected in North China, central and southern Northeast China, and the Huanghuai region. Light to moderate rain or thunderstorms are expected in parts of northern North China, central and eastern Inner Mongolia, Liaoning, and Jilin, with heavy rain in central Liaoning and central Jilin. Locally, mixed convective weather including wind and hail is expected in eastern Hebei, Tianjin, northern Shandong, and western Liaoning. Heavy to blizzard conditions are expected in parts of central Heilongjiang and northern Jilin. 2. From 08:00 on April 3rd to 08:00 on April 4th, affected by a Mongolian cyclone, parts of central and eastern Inner Mongolia, central and northern Shaanxi, most of Shanxi, Hebei, Beijing, Tianjin, northern Henan, northern Shandong, and most of Liaoning will experience strong winds of level 5-7, with gusts of level 8-10. Affected by cold air and convection, some areas in western Liaoning, eastern Hebei, Tianjin, northern Shandong, southern Guangxi, and northern Guangdong will experience thunderstorms with winds of force 10-11. 3. Over the next three days, affected by an explosive cyclone, western and southern Canada, high-altitude areas of the northwestern United States, and north-central regions will experience heavy to blizzard conditions. Parts of southern Quebec and southern Ontario, Newfoundland Island, southern North Dakota, and northern Minnesota in the United States will experience heavy to extremely heavy snowfall. The cumulative snowfall in these areas will be 10-25 mm, with some areas receiving 30-50 mm. These areas will also experience winds of force 5-7, with gusts of force 8-9, and gusts exceeding force 10 on rivers and lakes. In addition, moderate to heavy rain is expected in the central and eastern United States and northeastern Mexico, with localized torrential rain; some areas will experience short-duration heavy rainfall, thunderstorms, and strong winds. Tornadoes are possible in Texas, Oklahoma, and Missouri in the United States. 4. Over the next three days, under the combined influence of an upper-level trough, a low-level warm and humid jet stream, and orographic uplift, central and eastern Afghanistan and Pakistan will still experience moderate to heavy rain, while eastern Afghanistan and western Pakistan will experience torrential rain, and high-altitude mountainous areas will experience heavy to blizzard-like snow or sleet.On April 3, Iranian Ambassador to Egypt Mojtaba Ferdowsi Poul stated that if the United States decides to send troops to land on Iranian islands, it could lead to the Houthi rebels blocking the Bab el-Mandeb Strait. Ferdowsi Poul said, "We hope our enemies will not make another strategic mistake against Iran. If they want to land on or occupy Iranian islands, another strait will become like the Strait of Hormuz, which will trigger financial markets and the global economy. This is not the situation we want. We will not beg the Houthis, but they have this plan." Houthi political bureau member Mohammed al-Buhaiti previously stated that the movement might block the Bab el-Mandeb Strait connecting the Red Sea and the Gulf of Aden, but only against the invading nation.Futures News, April 3rd - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.7%, mainly due to a surge in international crude oil futures. US President Trumps statement that the US would continue attacks on Iran sparked market concerns about a potential long-term disruption to crude oil supplies, causing Brent crude futures to jump 7.8%, which boosted sentiment in the Chicago soybean oil market. The May contract closed near its intraday high, slightly below this weeks high of $69.68. The US Department of Agricultures weekly export sales report showed that for the week ending March 26, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,100 tons, a 53% increase from the previous week, but a 58% decrease from the four-week average.Federal Reserves Goolsby: The oil price shock adds another layer of uncertainty.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

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After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.