• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
European Mediterranean Seismological Center: A magnitude 5.4 earthquake occurred in western Texas, with a focal depth of 10 kilometers.On May 4, Musks SpaceX headquarters in southern Texas, Starbase, is about to become an official city. On Saturday local time, a vote to officially register the Starship Base as a Texas autonomous city was passed overwhelmingly. Most of the 283 eligible voters in the area are SpaceX employees. The base is the launch base for SpaceXs cooperative project with the U.S. Department of Defense and NASA, aiming to send astronauts to the moon and even Mars. Musk first proposed the idea of a star base in 2021, and there was no suspense about the approval this time. This victory means a lot to Musk. The billionaires reputation has fallen since he became the "spokesperson" of Trumps federal layoffs plan, and Teslas profits have shrunk significantly. SpaceXs employment and investment in the area have generally been widely supported by local officials. But the proposal to build a city has also attracted criticism, who worry that it will expand Musks personal control over the area and may have the power to close a popular beach and state park for launches.On May 4, according to The Information, Apple (AAPL.O) plans to adjust the release rhythm of its iPhone next year to cope with its increasingly large product line. It is reported that Apples first foldable iPhone is expected to be released in the fall of 2026 with the iPhone 18 Pro series and "Air" series models. At the same time, the standard version of the iPhone 18 will be postponed to the spring of 2027 and released together with the subsequent models of the iPhone 16e. Apples current product line has expanded to six iPhone models. With the addition of foldable models, the company needs to re-plan its product release schedule to ensure that the management and marketing of the product line are more efficient. The report pointed out that Apples first foldable iPhone will adopt a book-like folding form rather than a clamshell design. The screen size of this model is 5.7 inches when folded, and the screen size will be close to 8 inches when unfolded.May 3, local time, Russian Presidents Press Secretary Peskov said at a press conference that Russia expects Ukraine to take actions to ease the situation during the ceasefire in May. Peskov pointed out that Ukraines response to the ceasefire initiative "is a test of its readiness for peace" and Russia is testing whether Kiev is ready to achieve sustainable long-term peace.Berkshire Hathaway Chairman Abel: Imagine holding Japanese trading companies (stocks) for at least 50 years, or forever.

WTI fluctuates around $80.00 following a V-shaped recovery as OPEC and allies intervene

Alina Haynes

Nov 22, 2022 14:53

 218.png

 

Futures for West Texas Intermediate (WTI) on the New York Mercantile Exchange (NYMEX) have had a steep comeback to near the psychological resistance of $80.00 after reaching an 11-month low of $75.27. The black gold is hovering at the $80.00 threshold as Saudi Energy Minister Abdulaziz bin Salman Al-comments Saud's have sparked supply concerns.

 

The Saudi Energy Minister affirmed that the existing OPEC+ agreement will remain until the end of 2023, confirming rumors that OPEC+ will intervene in the oil market to maintain oil prices from their unbalanced fluctuations. Previously, oil exporting nations agreed to reduce daily oil output by two million barrels in order to increase oil prices. The action is expected to disrupt the current demand-supply mechanism; consequently, oil prices are becoming more efficient.

 

On the demand side, the escalation of Covid-19 infections in China has prompted concerns over the future oil consumption. The present trend of increasing Covid-19 cases could push the Chinese government to reinstate Covid-19 limitations, as they are the sole means of restricting the virus's spread. The investment banking firm Goldman Sachs has reduced its projection for Brent crude oil prices in the fourth quarter from US$110 per barrel to US$100 per barrel due to the rising infection rates in China.

 

In the meantime, the demand for US Durable Goods will also reveal the future oil consumption in the US economy. According to forecasts, US Durable Goods Orders will settle at 0.4%, the same as their previous publication. Additional growth in the market for durable goods would eventually indicate oil demand forecasts.