EUR/USD 1.16393
-0.031%
Gold 4525.29
-0.959%
Oil 92.135
2.914%
USD/JPY 159.189
0.170%
GBP/USD 1.34785
-0.204%
GBP/JPY 214.568
-0.029%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Pony.ai (PONY.O): The company expects its robotaxi fleet to grow from the current 1,700 to 3,500 by the end of 2026.Pony.ai (PONY.O): Robotaxis revenue is projected to be more than 3.5 times higher in 2026 than the record set in 2025.On May 26th, data from the China Academy of Information and Communications Technology (CAICT) showed that in April 2026, domestic mobile phone shipments reached 25.733 million units, a year-on-year increase of 2.8%. Among them, 5G mobile phones accounted for 24.736 million units, a year-on-year increase of 24.4%, representing 96.1% of total mobile phone shipments during the same period. From January to April 2026, domestic mobile phone shipments totaled 86.538 million units, a year-on-year decrease of 8.6%. Among them, 5G mobile phones accounted for 80.203 million units, a year-on-year decrease of 0.9%, representing 92.7% of total mobile phone shipments during the same period.Both WTI and Brent crude oil prices rose more than 3% intraday, currently trading at $95.18 per barrel and $96.98 per barrel respectively.On May 26th, Honghui Fruits & Vegetables announced that its wholly-owned subsidiary, Shanghai Tenghui, has completed its capital increase and business registration change, raising its registered capital from 20 million yuan to 500 million yuan. As the acquiring entity, Shanghai Tenghui paid the first installment of 210 million yuan (30%) for the share transfer of Shimei Pharmaceutical on May 19th. Shimei Pharmaceuticals shareholder register was changed, with Shanghai Tenghui holding 41.128% of the shares. Share pledge registration was completed on May 21st, and the second installment of 140 million yuan (20%) was paid on May 22nd. Upon completion of the restructuring and appointment procedures, the company will achieve substantive management and consolidated financial control of Shimei Pharmaceutical.

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

Daniel Rogers

Sep 14, 2022 11:42

 156.png

 

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.

Suggestion