EUR/USD
1.14153
-0.125%
Gold
4108.33
-0.370%
Oil
71.472
-0.264%
USD/JPY
161.729
-0.397%
GBP/USD
1.33978
-0.077%
GBP/JPY
216.686
-0.473%
Real-time News
July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.July 11th - Industry insiders stated that historically, during periods of high demand in the memory chip industry, manufacturers tend to simultaneously expand production capacity, leading to a concentrated release of new capacity, a price crash, and industry-wide losses. Subsequently, manufacturers collectively reduce capital expenditures, and when demand recovers, another boom occurs – this cycle constitutes the industrys unique cyclical pattern. Since reaching its peak in late June, US memory chip stocks have experienced a collective correction due to concerns about overcapacity, triggered by news such as Metas sale of computing power. Data shows that industry leaders such as SanDisk, Micron Technology, Seagate Technology, and Western Digital have all seen their stock prices fall by more than 20% in the past few weeks. Analysts point out that the underlying logic supporting current demand for memory chips is facing a reassessment, with the core variable being whether the technological gap between various AI large-scale models will continue to narrow. Analysts also pointed out that the memory chip industry is undergoing a profound change in its business model: in the past, memory was more like a commodity, with prices fluctuating with the market, and contracts were mostly on a quarterly or annual basis; now, cloud vendors and AI data centers are increasingly signing long-term supply agreements with original equipment manufacturers for three to five years, with price ranges, minimum purchase quantities, and customer deposits, in order to ensure critical supply.July 11 - Due to the impact of Typhoon Bavi, the ninth typhoon of this year, the Hangzhou Bay Bridge will be closed in both directions starting at 19:30 today, prohibiting all vehicles from passing through.The CEO of Italian oil company Eni said that if the Middle East conflict continues, the oil market may break out of its current range in early 2027.
