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A senior Iranian official said that Iran is actively reviewing its participation in peace talks with the United States, but no final decision has been made yet.On April 20, Russian Foreign Minister Sergey Lavrov stated at a meeting of the Council of the Parliamentary Assembly of the Collective Security Treaty Organization (CSTO) that NATO is "in crisis," and Europe is discussing the formation of a new military bloc, potentially including the EU, the UK, Norway, and Ukraine. Lavrov pointed out that Russia views the CSTO as a pillar of the future Eurasian security architecture. He noted that the West is increasingly using force and employing neo-colonial tactics, while the CSTO will not deviate from international law. He recalled that the CSTO had actively advocated dialogue with NATO and promoted mechanisms for building trust and increasing transparency within the framework of the OSCE, but NATOs attitude towards the CSTO has been "consistently extremely arrogant." Lavrov also stated that the escalating military operations in the Middle East could impact the CSTO region. He believes that those supporting the chaos in the Middle East intend to create division within the Islamic world, and stated that, based on the map, the possibility of establishing a Palestinian state is becoming increasingly slim.On April 20, 2026, during the IMF/World Bank Annual Meetings from April 15 to 17, 2026, Governor Pan Gongsheng of the Peoples Bank of China met separately with senior European officials, including the Governor of the Bank of France, De Gallo; the UK Minister of State for Economic Affairs and Minister for the City of London, Rigby; the EU Financial Affairs Commissioner, Albuquerque; and the European Stability Mechanism (ESM) President, Gramenia, to exchange views on the economic and financial situation between China and Europe and on China-EU financial cooperation. Simultaneously, Governor Pan also met separately with senior officials from emerging economies and developing countries, including the Governor of the Central Bank of Brazil, Gallipoli; the Governor of the Bank of Korea, Lee Chang-yong; the Minister of Economy of Argentina, Caputo; the Governor of the Central Bank of Argentina, Bahili; the Minister of Finance of Pakistan, Holangzeb; the Governor of the Central Bank of Pakistan, Ahmed; the Governor of the Central Bank of Sri Lanka, Wirasimha; and the Governor of the Central Bank of Libya, Issa, to exchange views on the global economic situation and deepening practical financial cooperation. In addition, President Pan Gongsheng met separately with SWIFT Global CEO Tasso and Bank of America International President and Merrill Lynch CEO Mensah, among other senior executives of financial institutions, to exchange views on global economic conditions and financial market dynamics.According to the Wall Street Journal, Adobes (ADBE.O) AI assistant will help boost customer engagement and sales. Adobe will collaborate with Microsoft, Anthropic, OpenAI, and Nvidia.Adobe (ADBE.O) shares rose more than 4% in pre-market trading.

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

Skylar Williams

Jul 13, 2022 11:03

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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.


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