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1.15416
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Gold
5011.68
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Oil
94.781
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Real-time News
March 18 - Japans Ministry of Finance announced on Wednesday that crude oil imports cleared through customs in February increased by 16.4% year-on-year. Preliminary data shows that Japan, the worlds fourth-largest crude oil importer, imported 2.64 million barrels per day (11.757 million kiloliters) of crude oil last month; liquefied natural gas (LNG) imports were 5.82 million tons, down 0.9% year-on-year; and imports of thermal coal for power generation fell 1.1% in February to 8.735 million tons.On March 18th, Futures News reported that Chicago Board of Trade (CBOT) soybean futures closed higher on Tuesday, with the benchmark contract rising 0.1%. This was mainly due to stronger international crude oil futures and the impending implementation of the US biofuel blending policy, which boosted Chicago soybean oil prices and lifted market sentiment. Rising international crude oil prices continued to support the soybean market. Irans attack on the United Arab Emirates exacerbated market concerns about potential supply disruptions due to a US-Israeli war against Iran. Media reports indicated that US President Trump invited farmers and biofuel producers to an event at the White House on March 27th, where the final rule on biofuel blending might be announced. This move also boosted investor optimism. AgResource stated that the US government plans to release the final rule on biofuel blending quotas by the end of March, increasing market expectations for increased demand for biofuel feedstocks such as soybean oil, injecting new vitality into the biofuel market.Market news: Explosions were heard at a US military base in Saudi Arabia.Security sources say a drone strike hit the U.S. embassy in Baghdad, with explosions heard at the scene.On March 18th, Futures News reported that soybean oil futures on the Chicago Board of Trade (CBOT) closed sharply higher on Tuesday, with the benchmark contract rising 3.2%, recovering some of Mondays losses. This was mainly due to stronger international crude oil futures and the impending clarification of US biofuel policy. Traders said that soybean oil prices received dual support that day: firstly, a boost from rising energy prices, and secondly, market expectations that the government would introduce policies favorable to the biofuel industry regarding RVO (Renewable Energy Blending Obligation) and SRE (Small Refinery Exemption). Reports on Tuesday indicated that US President Trump will host an agricultural-themed event at the White House next week, inviting farmers and biofuel producers, and is expected to announce biofuel blending quota plans for 2026 and 2027. There is speculation that large refineries may be forced to fill quota gaps left by smaller refineries that have been granted exemptions from blending obligations.
