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The General Staff of the Ukrainian Armed Forces: In the past day, the Russian army lost about 1,000 soldiers, as well as 3 armored personnel carriers, 45 artillery systems and other equipment.On October 19th, Russian law enforcement revealed that Ukrainian armed forces were using a satellite system from the British company OneWeb to control unmanned boats in the Black Sea, and that a similar unmanned boat had been captured as a trophy. Sources said Ukraine was using the system as a backup communication channel for the Starlink system. "OneWeb terminals have been integrated into the maritime drone control system. Now, OneWeb is used as a backup communication channel alongside the primary system, the US Starlink," the source said. He explained that unlike Starlink, which uses thousands of low-orbit satellites, OneWeb deploys its network in medium-Earth orbit. This allows for wider coverage per satellite, but requires more complex and expensive user terminals.On October 19, a source in the Russian security department revealed that the number of mercenaries holding American passports killed by the Russian armed forces in special military operations in Ukraine has reached nearly 100. The source said: "Since the end of February 2022, about 100 American citizens fighting alongside Ukrainian militants have been killed in Ukraine." The source pointed out that obituaries of many people have been published on social networks and Ukrainian media.On October 19th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a statement that 23 models saw price reductions in September this year (compared to 36 models in the same period last year and 11 models in the same period in 2023), indicating that the current market remains relatively stable. Promotional activity for new energy vehicles remained at a mid-to-high 10.2% in September 2025, an increase of 2.6 percentage points year-on-year and a slight increase of 0.7 percentage points from the previous month. Promotional activity for traditional fuel vehicles reached 23.9% in September 2025, up 1 percentage point from the previous month and 1.9 percentage points year-on-year. The overall wholesale structure of major passenger car manufacturers continued to shift in September, with some mid-segment companies showing signs of gradual growth. Companies such as Geely Auto, Dongfeng Nissan, Xpeng Motors, Xiaomi Motors, and Leapmotor saw strong month-on-month performance. The independent brands of large state-owned groups have achieved strong growth. The independent brands of the five major state-owned groups, including SAIC, Dongfeng, Changan, Chery, and BAIC, increased by a total of 25% year-on-year in September. Among them, the second generation of independent brands of Shenlan, Lantu, Arcfox, and large groups showed strong growth.Nvidia (NVDA.O) CEO Jensen Huang will attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit in South Korea.

WTI crude oil prices remain subdued in the mid-$79.00 range with fresh recession concerns

Daniel Rogers

Jan 19, 2023 15:00

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WTI crude oil maintains losses near $79.50 on Thursday morning, following a steep decline from the 1.5-month high the previous day. In doing so, the black gold struggles to justify expectations of increased energy demand from China amidst fresh US economic downturn concerns. The stronger U.S. dollar and recent hawkish statements from Federal Reserve (Fed) officials could also be placing downward pressure on the energy benchmark.

 

The previous day, declining US data rekindled fears of an economic slowdown and weighed on Oil prices. In spite of this, US Retail Sales posted a 1.1% MoM decline in December, compared to a -0.8% market projection and a -1.0% prior reading (revised). On the same note, the Producer Price Index plummeted to its lowest level in six months with a -0.5% MoM figure, compared to a -0.1% MoM figure that was anticipated and a 0.2% MoM result from the previous month (revised).

 

In spite of this, Fed members remained hawkish as St. Louis Federal Reserve President James Bullard stated that US interest rates must rise higher in order to reduce inflationary pressures. On the same line, Loretta Mester, president of the Federal Reserve Bank of Cleveland, and Esther George, president of the Federal Reserve Bank of Kansas City, stated that the central bank must restore price stability, "which includes returning to 2% inflation." Recently, Lorie Logan, president of the Federal Reserve Bank of Dallas, advocated for a slower rate of rate hikes but also acknowledged the possibility of a higher rate ceiling.

 

Aside from China, experts at Goldman Sachs anticipated a stronger global economy and preferred more energy consumption from the dragon nation. In recent times, though, worries about the US-China friction have outweighed optimism. US Treasury Secretary Janet Yellen and Chinese Vice Premier Liu He met in Germany on Wednesday, which initially bolstered risk appetite with the BOJ's inactivity. However, the diplomats' mention of the disagreements sparked market fears of a new round of friction between the United States and China. Previously, the South China Morning Post (SCMP) stated that Beijing'should be cautious' as the United States and Taiwan pursue tighter economic ties.

 

The American Petroleum Institute's (API) Weekly Crude Oil Stock was 7.615 million compared 14.865 million the week prior.

 

As a result of these bets, Wall Street closed in the red, and yields also declined, but the US Dollar rebounded after falling to its lowest level since late May. However, the US Dollar Index (DXY) also rebounded from levels that were the lowest since May 31.

 

In the future, risk triggers will be more significant than the weekly oil inventory data from the US Energy Information Administration, which is predicted to be -1.75M compared to 18.962M previously.


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