EUR/USD 1.12289
-0.078%
Gold 4180.41
0.280%
Oil 97.352
-1.487%
USD/JPY 157.936
-0.035%
GBP/USD 1.33299
0.016%
GBP/JPY 210.532
-0.019%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
October 19th - In the first three quarters, the total value of Chinas imports and exports reached 39,939.9 billion yuan, a year-on-year increase of 18.8%. Exports totaled 23,197.9 billion yuan, up 16.4%; imports reached 16,742 billion yuan, up 22.3%. Imports and exports with countries participating in the Belt and Road Initiative increased by 17.1%. Private enterprises imports and exports increased by 19.1%, accounting for 56.9% of the total. Exports of machinery and electronic products increased by 23.7%, accounting for 64.3% of total exports. In September, the total value of imports and exports reached 5,162.8 billion yuan, a year-on-year increase of 27.5%, 7.7 percentage points faster than the previous month. Exports reached 3,034.4 billion yuan, up 29.6%; imports reached 2,128.4 billion yuan, up 24.6%.October 19th - Raw coal production decline narrowed in September 2026. In September, the output of raw coal by enterprises above designated size was 390 million tons, a year-on-year decrease of 6.8%, with the decline narrowing by 0.9 percentage points compared to August; the average daily output was 12.84 million tons. From January to September, the output of raw coal by enterprises above designated size was 3.45 billion tons, a year-on-year decrease of 3.5%. Crude oil production growth accelerated. In September, the output of crude oil by enterprises above designated size was 18.21 million tons, a year-on-year increase of 2.2%, with the growth rate accelerating by 1.4 percentage points compared to August; the average daily output was 607,000 tons. From January to September, the output of crude oil by enterprises above designated size was 164.6 million tons, a year-on-year increase of 1.0%. Crude oil processing decline widened. In September, the crude oil processing volume by enterprises above designated size was 57.48 million tons, a year-on-year decrease of 8.4%, with the decline widening by 1.5 percentage points compared to August; the average daily processing volume was 1.916 million tons. From January to September, the crude oil processing volume by enterprises above designated size was 513.6 million tons, a year-on-year decrease of 6.8%.On October 19th, the Saudi Arabian Civil Defense Authority issued a statement on the 18th saying that a projectile fired by the Houthi rebels in Yemen landed in a residential area of Najran, a city in southwestern Saudi Arabia, injuring six people. The statement said all the injured were Saudi citizens. The incident also damaged three houses and three vehicles. Recently, Saudi Arabia and the Houthi rebels have intensified their mutual attacks. At the same time, clashes between the Houthis and the Yemeni government forces on multiple fronts have also become increasingly fierce.On October 19th, QCraft and HERE Technologies, a provider of location platforms and mapping technologies, signed a Memorandum of Understanding (MOU). The two companies will jointly explore the integration of location intelligence and navigation-assisted driving technologies, accelerating the localization and application of intelligent driving solutions in international markets such as Europe.Saudi Arabias civil defense ministry said the danger in the Jizan region has been averted.

Oil prices rise from 6-month lows as U.S. inventories decrease

Haiden Holmes

Aug 17, 2022 11:37

66.png


Oil prices rose on Wednesday, recovering from six-month lows touched the day before, as a larger-than-expected decrease in U.S. oil and gasoline stocks reminded investors that demand remains healthy despite the likelihood of a global recession.


Brent crude futures climbed 13 cents, or 0.1%, to $92.47 per barrel at 00:35 GMT. West Texas Intermediate (WTI) crude increased by 27 cents, or 0.3%, to $86.80 a barrel.


Tuesday saw a decrease of nearly 3 percent in contracts as dismal U.S. housing starts data fueled worries of a global recession.


"A fall in U.S. gasoline stocks for the second consecutive week has reassured investors that demand is resilient, spurring purchases," said Fujitomi Securities Co.'s chief analyst, Kazuhiko Saito.


Concerns about the likelihood of a worldwide recession are anticipated to keep the oil market under pressure and volatile.


According to market sources citing Tuesday's American Petroleum Institute report, crude and fuel stockpiles in the United States dropped during the previous week.


Inventories of crude oil declined by around 448,000 barrels in the week ending August 12. According to the sources, gasoline stocks declined by about 4.5 million barrels, while distillate stocks decreased by about 759,000 barrels.


According to a comprehensive poll conducted by Reuters on Tuesday, oil stockpiles likely decreased by roughly 300,000 barrels last week, while gasoline inventories likely decreased by approximately 1.1 million barrels and distillate inventories increased.


Moreover, investors anticipated clarification over efforts to reinstate the 2015 Iran nuclear deal. According to analysts, if Iran and the United States agree to a European Union plan to eliminate restrictions on Iranian oil exports, the oil supply might increase.


The European Union and the United States said on Tuesday that they were reviewing Iran's response to what the EU termed its "last" proposal to rescue the 2015 nuclear agreement, in response to Tehran's request for Washington to show flexibility.


Barclays (LON:BARC) lowered its Brent price forecasts for 2022 and 2023 by $8 per barrel on Tuesday, forecasting a large surplus of crude oil due to "resilient" Russian supplies in the near future.

Suggestion