EUR/USD 1.18738
0.442%
Gold 5014.00
1.226%
Oil 63.550
0.393%
USD/JPY 156.544
-0.351%
GBP/USD 1.36460
0.204%
GBP/JPY 213.623
-0.147%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The U.S. Department of Defense stated that the vessel violated quarantine regulations in the Caribbean Sea.February 9th - Capital Economics analysts Ruth Gregory and Paul Dales noted in a report that if Starmer or Reeves were to replace the UK Prime Minister and Chancellor of the Exchequer respectively, UK government bond yields could rise and the pound could weaken. They stated that subsequent market movements would depend on the policy direction of the new leadership. Starmer continues to face pressure due to his handling of the former US Ambassador Peter Mandelson affair. The report added that if the successor team weakens fiscal constraints and promises significant increases in public spending and borrowing, it could trigger a sharp surge (or even above 5%) in 10-year government bond yields and a decline in the pound. However, if the government is forced to abandon these plans—repeating the scenario of former Prime Minister Trusss "mini-budget"—such market volatility is likely to be short-lived.February 9th - Since the beginning of the year, the National Integrated Circuit Industry Investment Funds (Big Fund) share reduction activities in the semiconductor sector have continued to attract market attention. On the evening of February 8th, Anlu Technology announced that its shareholder, the first phase of the Big Fund, plans to reduce its holdings by no more than 2% of the companys total share capital within the next three months. This marks the third time Anlu Technology has faced a share reduction plan from the Big Fund since 2025. Meanwhile, several other semiconductor companies, including Shanghai Silicon Industry, Telink Microelectronics, and Huizhi Microelectronics, have also recently disclosed the latest progress or plans for share reduction by the Big Fund. Based on the information released, both the first and second phases of the Big Fund have conducted share reduction operations, involving mostly listed semiconductor industry chain companies. Despite the frequent share reductions in the short term, industry insiders generally believe that this is a normal investment exit behavior for the Big Fund as an industry investment fund, and its long-term strategic direction of accompanying industry growth and supporting domestic substitution remains unchanged.The euro rose more than 0.50% against the US dollar on the day, currently trading at 1.1872.On February 9th, KSTAR announced that its controlling shareholder, Ningbo KSTAR Venture Capital Partnership (Limited Partnership), plans to reduce its holdings of the companys shares by no more than 5.8222 million shares, representing 1% of the companys total share capital, within three months after 15 trading days from the date of the announcement, through block trades or centralized bidding. The reason for the reduction is its own funding needs; the shares are from shares issued before the initial public offering and shares transferred through equity distribution.

Oil Prices Climb As The EU Bans Most Russian Oil Imports

Charlie Brooks

May 31, 2022 11:42

o2.png


Oil prices increased on Tuesday as the European Union (EU) agreed to reduce its oil imports from Russia by the end of 2022, fueling fears of a tightening market already stressed for supply due to rising demand ahead of the peak summer driving season in the United States and Europe.


At 00:54 GMT, Brent crude futures for July, whose contract expires on Tuesday, rose 33 cents to $122.50 a barrel. The more popular August contract increased 33 cents to $117.93.


Futures contracts for U.S. West Texas Intermediate (WTI) crude were trading at $117.31 a barrel, an increase of $2.24 from Friday's closing. Due to a U.S. holiday, there was no settlement on Monday.


European Union leaders agreed in principle to reduce oil imports from Russia by 90 percent by the end of 2022, breaking a stalemate with Hungary over the bloc's heaviest sanction against Moscow since the invasion of Ukraine three months ago.


Due to the fact that the market has already factored in the supply limits, according to some analysts, oil price improvements may be modest.


SPI Asset Management Managing Partner Stephen Innes told Reuters that the market had "already factored in EU self-sanction and much less Russian oil moving to Europe this year"


Innes continued, "I believe the market is pricing in some more Asia demand via China; nevertheless, the glaring issues are the soaring gasoline prices at the pump, which could lead to some demand destruction over the driving season."


Following the removal of COVID-19 restrictions, China's demand is anticipated to increase. Shanghai has announced the end of its two-month lockdown and will permit the vast majority of residents in China's largest metropolis to leave their homes and drive cars beginning Wednesday.


On the production side, OPEC+ is expected to adhere to its agreement from last year at its meeting on Thursday, with a moderate July output rise of 432,000 barrels per day, according to six sources from OPEC+. This is in response to Western calls for a more rapid increase to curb skyrocketing prices.


The Organization of the Petroleum Exporting Countries and its allies, led by Russia, argue that the oil market is in equilibrium and that recent price increases are unrelated to underlying fundamentals.


In 2022, oil prices on both sides of the Atlantic reached their highest level in more than a decade and are up more than 55 percent so far in 2022.

Suggestion