EUR/USD
1.16415
0.089%
Gold
4506.11
0.477%
Oil
90.451
-0.517%
USD/JPY
159.834
0.105%
GBP/USD
1.34695
0.112%
GBP/JPY
215.293
0.218%
Real-time News
June 2nd - According to Dan Struve, co-head of global commodities research at Goldman Sachs, if commercial crude oil inventories continue to decline at the recent rate with the Strait of Hormuz almost completely closed, U.S. diesel inventories could fall to a critical level by August, enough to sustain only 20 days of supply. "U.S. oil inventories have seen the largest drop in history over the past eight weeks. U.S. diesel inventories have fallen to their lowest level since 2003." The Iran war has fundamentally altered the global oil market landscape, drastically reducing oil shipments from Persian Gulf oil-producing countries through the Strait of Hormuz to near zero, forcing millions of barrels of oil production to halt. While U.S. refineries can fill this gap by drawing on their inventories, the potential turning point will become increasingly severe if the route remains blocked. Struve stated, "This tension will also be clearly reflected in the U.S.." According to data from the U.S. Energy Information Administration, in the week ending May 22nd, U.S. diesel supplies amounted to approximately 28 days of reserves, compared to approximately 36 days at the end of January.On June 2nd, Wang Weizhong, Secretary of the Party Committee and Chairman of the Standing Committee of the Peoples Congress of the Inner Mongolia Autonomous Region, and Bao Gang, Deputy Secretary of the Party Committee and Chairman of the Peoples Government of the Inner Mongolia Autonomous Region, met with Ren Shulu, Senior Vice President and Executive Supervisor of Huawei Technologies Co., Ltd., in Hohhot. Wang Weizhong stated that he hopes Huawei will further deepen its strategic cooperation with Inner Mongolia, accelerate the construction of the Huawei Cloud Data Center project, expand its industrial layout and increase investment in areas such as green computing power, artificial intelligence, technological innovation, and data trading, and promote the deep integration of the industrial chain, innovation chain, supply chain, and talent chain to help the Autonomous Region accelerate the cultivation of new productive forces and promote high-quality development. This year is the year of improving the business environment quality in Inner Mongolia. We will continue to create a first-class business environment and provide better services and conditions for investment and business development for all types of enterprises, including Huawei.Kremlin: An official U.S. delegation, led by Rodney Cook, president of the American Council on the Arts, will attend the St. Petersburg International Economic Forum this week. This will be the first official visit to Russia by a U.S. delegation since 2017-2018.Polish central bank: Future decisions will depend on data.U.S. JOLTs job openings in April totaled 7.618 million, below the expected 6.88 million and the previous months figure was revised from 6.866 million to 6.887 million.
