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Real-time News
On June 8, the State Post Bureau held a Party Leadership Group meeting. The meeting emphasized the importance of ensuring the safety and stability of the express delivery industry, urging a balanced approach between development and security, and integrating safety and stability requirements throughout the entire process of express delivery market supervision and safety oversight. The meeting stressed focusing on key areas, comprehensively investigating and resolving various risks, thoroughly addressing "involutionary" competition, and guiding enterprises to standardize their internal performance evaluation mechanisms. It also emphasized strengthening the responsibilities of all parties, urging headquarters to standardize operations and management, and resolving conflicts and disputes at their source. Furthermore, the meeting called for continuously strengthening industry operation monitoring and command and dispatch, improving the closed-loop mechanism for risk prevention and control across the entire chain, promoting the resolution of specific problems, and creating a standardized, orderly, stable, and healthy industry development ecosystem.June 8th - Market sources indicate that Russia plans to increase refinery operating rates in June, thus reducing crude oil exports, given the looming threat of fuel shortages. Preliminary data from these sources suggests that crude oil loadings at the western Russian ports of Primorsk, Ust-Luga, and Novorossiysk may fall from 2.5 million barrels per day in May to 1.7 million barrels per day in June. The sources suggest this decline is partly due to lower crude oil production levels. Russian Deputy Prime Minister Novak previously stated that Russian oil production has declined since the beginning of the year, attributing it to unscheduled refinery maintenance. The sources say that with the completion of maintenance, Russian refineries will be able to increase processing volumes amid seasonal fuel demand growth and supply shortages reported in some regions; however, lower production means additional feedstock must be diverted from exports for processing. They estimate that Russia will seek to increase crude oil processing by 250,000 to 400,000 barrels per day in June, while restoring crude oil production will take a considerable amount of time.According to Irans Tasnim News Agency, all flights to Iran have been cancelled until further notice.Israeli Prime Minister Benjamin Netanyahu has instructed the military to halt preparations for a new attack on Iran.Oppenheimer raised its price target for Oracle (ORCL.N) from $235 to $275.
