EUR/USD 1.15172
0.080%
Gold 4085.77
0.752%
Oil 75.249
-4.448%
USD/JPY 157.570
0.260%
GBP/USD 1.34474
0.114%
GBP/JPY 211.896
0.381%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 5th, Nick Timiraos, a vocal advocate for the Federal Reserve, wrote that Treasury Secretary Bessants policy response function has become less dovish. His comments this year suggested the Fed should maintain its current interest rates. Earlier this year, Bessant cited models suggesting the Feds interest rate could be more than 25 to 100 basis points above the neutral rate. Today (August 4th), he raised two points. First, he defended Warshs decision last week not to elaborate on any policy response function: "I think every meeting should be open, and market participants should make their own judgments… I think Warsh wanted to preserve options to achieve the best outcome." Second, he did propose a policy response function that could be considered dovish, arguing that recent shocks should be ignored: "What will be the impact of rising short-term interest rates? Well see." He raised this question but then responded by noting that underlying inflation was "very modest… very stable." "Core inflation, after removing the energy-dependent volatility component, has been very stable. I think this will continue."Iranian Foreign Ministry spokesman: The flight routes under negotiation are aimed at ensuring the sovereign rights and national security considerations of both Iran and Oman.Iranian Foreign Ministry spokesman: The focus of the negotiations is to determine safe passageways in and out of the Strait of Hormuz.Iranian Foreign Ministry spokesperson: The final results of the negotiations will be released after being compiled and summarized.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.6 occurred near Gao County, Yibin City, Sichuan Province (28.55 degrees north latitude, 104.68 degrees east longitude) at 23:58 on August 4. The final result is subject to the official rapid report.

Despite an increase in US official oil stock statistics, WTI extends its rebound to near $79.00

Daniel Rogers

Dec 30, 2022 11:20

 截屏2022-12-29 下午4.54.13_1024x576.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have continued their recovery move over the important resistance level of $78.50 during the Tokyo morning session. As a result of supply concerns due to a prohibition on oil sales from Russia to G7 nations and the European Union and anticipation of a recovery in demand predictions in China as a result of reopening steps, the oil price experienced buying activity around $77.00.

 

Russia has no intention of supplying fossil fuels at prices lower than those prevailing on the market, therefore oil supply is projected to remain a key concern. Without a question, western nations are actively seeking alternatives to Russia to meet their oil demand, but their reliance on Russian oil will keep them in agony in the medium run.

 

Meanwhile, the sheer velocity of reopening steps by the Chinese government in Beijing has caused short-term chaos owing to a sharp increase in the number of infections; however, Covid-19 may have reached its peak and the economy will restore its forward momentum.

 

According to a letter from Goldman Sachs economists, "For oil prices, we remain bullish on oil prices in the immediate future given the possibility for increasing China demand, and reduced supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

 

The United States Energy Information Administration (EIA) stated on Thursday, for the week ending December 23, that the oil price rebounded following a short decline due to an increase in oil stockpiles. The official US agency reported an increase of 0.718,000 million barrels in oil inventories, whereas the market had anticipated a decrease of 1.52 million barrels.

Suggestion