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On August 19th, at 7:35 AM, the Zhuque-3 rocket, standing 25 stories tall and weighing over 600 tons, once again defied Earths gravity and entered low Earth orbit. Just over two minutes later, the booster and the second stage carrying a satellite successfully separated. Less than ten minutes after launch, the booster, after two retro-rockets to slow its descent, slowly landed at a recovery site in Minqin County, Gansu Province, 390 kilometers from the launch site. When asked by the media: "Now that the recovery is successful, what will you (the Zhuque-3 team) do next?" Dong Kai, deputy chief designer of the Zhuque-3 rocket, stated that they will strive to reuse the recovered rocket as soon as possible. "After this rocket returns, we will disassemble it very carefully to see where it was damaged after such a flight. If each part has health bars, the subsequent work will be to make each health bar inspectable, measurable, and repairable, and then put it back on the launch pad after repair." The main improvement directions for Zhuque-3 are to enhance its carrying capacity, reliability, and shorten the reuse cycle. My inner hope is that Suzaku III will first cross the threshold of playing 10 times a year.August 19th - Southeast Asian economies diverged in the second quarter, influenced by the technology and energy sectors. Vietnam remained the fastest-growing major economy in Southeast Asia, while Thailand underperformed. Malaysia and Singapore ranked second and third, respectively, driven by strong demand for semiconductors and other components in the global technology supply chain. Like Thailand, the Philippines was also affected by soaring energy costs due to the Middle East conflict. Furthermore, a sharp decline in infrastructure spending further dragged down Philippine growth. Developing economies with key players in the AI-related technology supply chain showed greater resilience, while those more vulnerable to expensive imported energy gradually lost momentum. Policymakers in the region are now facing the challenge of protecting businesses and consumers from volatile oil prices without harming economic growth. DBS economists stated, "The differences in growth across countries depend on their domestic resilience in responding to the Middle East crisis and their reliance on technology exports in their trade structures."Artificial Intelligence: 1. Anthropic is reportedly expected to launch its IPO process within weeks. 2. Anthropic plans to introduce super voting rights to protect the founding teams control. 3. Anthropics pre-IPO credit line may exceed its target of $10 billion. 4. OpenAIs Q2 revenue reportedly increased by 18% quarter-over-quarter, but losses widened. 5. OpenAI: The company has temporarily slowed down the training of some cutting-edge models for two weeks to enhance security and monitoring. Other: 1. The worlds most precise 100-meter-class radio telescope has completed the installation of its core structure. 2. Alibaba Clouds third data center in South Korea went online. 3. Baidus Q2 financial report: Total revenue of 31.3 billion yuan, with AI business accounting for more than half of total revenue for the third consecutive year. 4. TrendForce: The combined revenue of the top five global NAND Flash brands in Q2 increased by 77% quarter-over-quarter, reaching $68.87 billion. 5. Taiwanese power semiconductor manufacturers are preparing for a third wave of price increases. Japans core machinery orders rose 9.7% month-on-month in June, below the expected 7.80% and the previous months -12.40%.Japans core machinery orders rose 16.9% year-on-year in June, below the expected 10.8% and the previous reading of -1.90%.

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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