About: lishitong

US shares plunged on Tuesday night (GMT+3) as investor fears about spiking interest rates, slowing economic growth, and rampaging inflation culminated in a rout. The S&P 500 closed the day by 2.8% lower to 4,175.20, Dow Jones slid around 800 points to 33,240.18, while the tech-heavy Nasdaq Composite plunged nearly 4% to 12,490.74, hitting itsContinue Reading

Russia’s war in Ukraine has had a profound effect on global food distribution, and world leaders are anxious to address any coming issues. US Treasury Secretary Janet Yellen will be meeting ministers from industrial nations – including IMF leaders and G7 members – around the world to address the growing food supply crisis caused byContinue Reading

On Wednesday (GMT+3), the US Energy Information Administration reported a large decrease of 8.02 million barrels in its crude oil inventories, bringing its current inventory to 413.7 million barrels. The numbers are far from the forecasted increase of 2.471 million barrels, and last week’s increase of 9.382 million. Meanwhile, gasoline inventories see a decrease ofContinue Reading

The Organisation of Petroleum Exporting Countries (OPEC) has warned that it would not be possible to replace the 7 million barrels of Russian oil and other liquid exports that will potentially be lost each day due to current and future sanctions. While the EU has not yet banned imports of Russian energy, the option hasContinue Reading

On Wednesday (GMT+3), the US Energy Information Administration reported an increase in 9.382 million barrels in its crude oil inventories. This is significantly higher than both the estimated increase of 863,000 barrels, and the previous number of 2.421 million barrels. An increase in inventories usually implies weaker demand and would be bearish for crude prices.Continue Reading