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The Commodities Feed: Brent under pressure | Hellenic Shipping News Worldwide

Energy Oil has given back more of its recent gains, with ICE Brent slipping below US$68/bbl yesterday and breaking below the US$67/bbl level this morning. Overnight the API reported that US crude oil inventories increased by a significant 12.5MMbbls over the last week. Offsetting this were hefty drawdowns in both gasoline and distillate fuel oil . ....

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China Seeks Aggressive Growth


China Seeks Aggressive Growth
Two Sessions: Amid Uncertainty, China’s Quest for Bold Development
China’s annual “Two Sessions meeting has approved national priorities for 2021. Delivered by Premier Li Keqiang, the Government Work Report set a growth target of over 6 percent for Chinese economy for 2021, releasing a numeric goal after it was skipped in 2020, due to the COVID-19 pandemic.
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China plans to create more than 11 million new jobs in 2021, while keeping inflation rate (CPI) at 3 percent and cutting the deficit-to-GDP ratio to 3.2 percent. The goal is to increase annual R&D spending by more than 7 percent in the next five years, including foreign-funded R&D centers in China. ....

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