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On July 16, U.S. Trade Representative Greer stated on Thursday that as the two sides continue negotiations on a trade agreement after months of talks, the U.S. is demanding more action from Vietnam on non-tariff barriers, economic security cooperation, and intellectual property. He said, "If we are to export some high-tech equipment to Vietnam, they need to align with us on export controls and other matters." "We want other countries to lower tariffs, eliminate non-tariff barriers restricting U.S. exports of goods and services, and strengthen cooperation in areas such as economic security. As for intellectual property standards, we want them to also adhere to the rules our companies follow." Vietnamese officials are holding a new round of negotiations in Washington this week, hoping to reach a trade agreement amid three U.S. investigations into their trade practices. Trade negotiations between the two countries have stalled due to U.S. demands for stricter rules of origin, stronger measures to prevent transshipment, and disagreements on market access and non-tariff barriers. Trump has threatened a 40% tariff on goods deemed transshipped, but the definition has not yet been determined.The Bank of Korea: Inflationary pressures will continue to rise, but are expected to remain above the target level.Tokyo Electron: Collaborating with NVIDIA (NVDA.O) to create digital transformation solutions using NVIDIA Agent Toolkit and the open robotics development platform NVIDIA Isaac.On July 16th, the National Healthcare Security Administration released the "2025 National Healthcare Security Development Statistical Bulletin." The bulletin shows that in 2025, 259.5805 million people nationwide participated in maternity insurance, an increase of 6.5854 million from the previous year, representing a growth of 2.6%. In 2025, 35.7381 million people received various maternity insurance benefits, with maternity insurance fund expenditures totaling 139.381 billion yuan. In 2025, the total amount of medical assistance nationwide reached 79.424 billion yuan, with the medical assistance fund subsidizing 76.6647 million people to participate in basic medical insurance. Assistance funds were further adjusted towards outpatient and inpatient assistance, with 199.156 million outpatient and inpatient assistance provided throughout the year. The national average inpatient assistance and outpatient assistance were 1273 yuan and 86 yuan respectively.The Peoples Bank of China (PBOC) announced today that it conducted 626 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 626 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

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After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.

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