EUR/USD 1.13939
0.121%
Gold 4015.85
0.374%
Oil 78.946
1.480%
USD/JPY 162.285
-0.100%
GBP/USD 1.33611
0.116%
GBP/JPY 216.837
0.011%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Financial Times: As Brexit affects Gibraltar, starting this week, British citizens flying from the UK to Gibraltar will have to go through the EUs controversial new electronic border system.According to the Financial Times, U.S. small-cap stocks surged as investors turned their attention away from large-cap tech stocks.July 14th - According to foreign media reports, ahead of escalating tensions and the US announcement of a renewed blockade of Iranian ports, Iran has begun secretly transporting oil tankers through the Strait of Hormuz in recent days. Ship tracking data shows that six Very Large Crude Carriers (VLCCs) sanctioned by the US transited the Strait of Hormuz into the Gulf of Oman in the past week, with their Automatic Identification System (AIS) transponders turned off. These six tankers can collectively carry 12 million barrels of crude oil. These vessels, along with other ships linked to Iran, completed their voyages after the US revoked its temporary permit for Iranian crude oil sales on July 7th. In addition to the aforementioned six Iranian VLCCs, numerous other ships sanctioned by the US and linked to Tehran have also departed the Strait of Hormuz since July 7th. These vessels are part of the 57 million barrels of crude oil that Iran successfully exported between two rounds of US naval blockades.On July 14th, futures market news reported that yesterday, as tensions escalated, including the US continuing its attacks on Iran and reimposing a blockade on Iranian oil exports, oil prices surged. Currently, WTI crude oil has rebounded to around $80 per barrel, and Brent crude has climbed back above $85 per barrel, showing significant gains. Zhuochuang Information predicts that continued attention will be paid to the consequences of the renewed US-Iran attacks. Against the backdrop of heightened tensions, crude oil prices are generally expected to remain strong, but the possibility of Trump resuming peace talks also needs to be monitored. If talks are initiated, oil prices will likely fall rapidly. Therefore, overall volatility is expected to be high.According to the Jordanian state news agency, Jordan intercepted and shot down four missiles that entered Jordanian airspace from Iranian territory.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

244.png 

 

In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

Suggestion