EUR/USD 1.18751
0.034%
Gold 5061.39
-0.450%
Oil 64.707
-0.045%
USD/JPY 153.128
-0.091%
GBP/USD 1.36314
0.024%
GBP/JPY 208.739
-0.054%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On February 12th, the Beijing Municipal Administration for Market Regulation organized an administrative meeting with 12 mainstream platforms involved in online train ticket sales, including Ctrip, Qunar, Fliggy, Tongcheng, Meituan, JD.com, TravelSky, High-Speed Rail Butler, Didi, Gaode Map, Baidu Map, and Tencent Map, focusing on prominent issues raised by the public regarding online train ticket sales. At the meeting, the Beijing Municipal Administration for Market Regulation clearly outlined four compliance requirements for each platform. These include: a comprehensive review of their business models and service processes; prohibiting explicit or implicit suggestions to consumers that they can obtain priority ticket purchase privileges through paid services; promptly rectifying misleading advertising such as "acceleration packages," "dual channels," and "remaining ticket monitoring" after tickets are sold out; and accepting public supervision. The meeting also requires a comprehensive review and rectification of platform pages, removal of products suspected of misleading advertising, adjustment of page promotional content, and a prohibition on using 12306 images, text, trademarks, etc., in advertising that could mislead consumers into believing that the platform has a specific business partnership with 12306.The Peoples Bank of China (PBOC) conducted 166.5 billion yuan of 7-day reverse repurchase operations today, with both the bid and winning bids amounting to 166.5 billion yuan. The winning bid rate was 1.40%, unchanged from the previous rate. The PBOC also conducted 400 billion yuan of 14-day reverse repurchase operations today.A chart summarizing the overnight price movements of international spot platinum and palladium.As of 8:33 AM Beijing time, spot platinum fell 1.32%, and spot palladium fell 1.07%.The yield on Japans 40-year government bonds fell 8.0 basis points to 3.645%.

Oil prices fall owing to rising U.S. stocks and weaker demand

Skylar Williams

Jul 13, 2022 11:03

6.png


Oil prices dipped in early Asian trade on Wednesday with the release of U.S. inventory data indicating a rise in crude oil and refined products, amid rising fears of a global economic slowdown.


Brent oil futures shed 68 cents, or 0.7 percent , to $98.81 a barrel at 0002 GMT. The price of U.S. West Texas Intermediate crude oil dropped 72 cents, or 0.8 percent, to $95.12 a barrel, which is also the lowest level in three months.


Concerned that aggressive interest rate increases to battle inflation may precipitate a recession, which will severely influence oil consumption, investors have sold their oil holdings. Due to volatile trading, prices dropped by more than 7 percent in the previous session.


China's renewed COVID-19 travel restrictions had an effect on the market. Multiple cities in the world's second-largest economy have enacted further restrictions, ranging from firm closures to wider lockdowns, to prevent the spread of a highly dangerous virus strain.


During the week ending July 8, crude oil stocks climbed by around 4.8 million barrels in the United States. According to market sources citing data issued by the American Petroleum Institute on Tuesday, gasoline supplies grew by 3 million barrels, while distillate stockpiles increased by 3,3 million barrels.


The dollar index, which compares the dollar to a basket of six other currencies, reached its highest level since October 2002 on Tuesday, reaching 108.56.


Since oil is frequently priced in U.S. dollars, a stronger dollar makes the commodity more expensive for foreign currency holders. During times of market volatility, the dollar is often viewed as a safe haven by investors.


Suggestion