Concerns about demand have become the main market tone. Brent crude oil fell to a six-month low at one point, while US oil fell more than 4% during trading hours.
Despite the significant escalation of geopolitical tensions in the Middle East this week, which once briefly pushed up crude oil prices, the concern about economic recession has become the main market sentiment, and investors are worried about the demand for crude oil. Oil prices fell sharply on Friday, falling for four consecutive weeks, marking the longest decline since December last year.
Oil: Recent Price Action Is Associated With Global Macro Flows – TDS
Century En Intl (08132.HK): Leung Wing Cheong resigned as Chairman of the Board of Directors and Non-Executive Director.
Century En Intl (08132.HK) announced on August 1 that Leung Wing Cheong resigned as chairman of the board of directors and non-executive director due to retirement, effective from July 31, 2024. The board of directors also announced that Lim Haw Kuang resigned as an independent non-executive director, chairman and member of the company's remuneration committee, and member of the audit and nomination committees due to other reasons, effective from August 1, 2024.
Express News | Century Energy International - Leung Wing Cheong, Eric Tendered Resignation as Chairman
The Biden administration is seeking additional funds to bolster the petroleum reserves. The energy department only has 1.2 billion US dollars left in its account to purchase crude oil products.
The US Department of Energy has been slowly replenishing its global strategy petroleum reserves, which have decreased to an unprecedented low since the Russia-Ukraine conflict, reaching the lowest level in forty years.
Wall Street determines: Trump's bearish on oil prices.
Goldman Sachs and Citigroup both believe that Trump's tariff policy may bearish for oil prices. Goldman Sachs said that if tariffs severely affect the global economy, oil prices may fall by $11 to $19 per barrel next year.
CENTURY EN INTL: Annual Report 2024
Century en intl (08132.HK) had an annual revenue of approximately 0.595 billion HKD, a slight decrease of about 1.3% year-on-year.
On July 15, Gelong Hui reported that Century En Intl (08132.HK) had an income of approximately HKD 0.595 billion for the year ending on March 31, 2024, a slight decrease of about 1.3% from the same period last year. The group's owners should suffer a loss of about HKD 20 million, a decrease of 34.0% from the same period last year, mainly due to (i) a reduction of about HKD 12 million in administrative expenses, mainly due to the company's less actions during the year and a decrease in average employee salaries, which reduced professional fees and employee costs. It is not recommended to pay dividends for this fiscal year.
Express News | Century Energy International - Application Will Be Made to Stock Exchange for Resumption of Trading in Its Shares on 16 July
CENTURY EN INTL: ANNUAL RESULTS ANNOUNCEMENTFOR THE YEAR ENDED 31 MARCH 2024ANDRESUMPTION OF TRADING
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Century En Intl (08132.HK) will be suspended from trading starting on July 2nd, awaiting the publication of its full year 2024 performance.
On July 2nd, Gelunhui reported that Century En Intl (08132.HK) announced that its shares are expected to suspend trading on the Stock Exchange from 9am on July 2, 2024 until the full-year results for 2024 are published.
CENTURY EN INTL: INSIDE INFORMATION(1) DELAY IN PUBLICATION OF THE 2024 ANNUAL RESULTS;(2) POSTPONEMENT OF BOARD MEETING; AND(3) SUSPENSION OF TRADING
Century En Intl (08132.HK) suspended trading this morning.
On July 2nd, Gelunhui reported that trading of Century En Intl (08132.HK) will be suspended starting at 9:00 am today (2/7/2024).
CENTURY EN INTL: PROFIT WARNING - SUPPLEMENTAL ANNOUNCEMENT
Express News | Century Energy International - Expected Result Due to Decrease in Administrative Expenses, Others
Express News | Century Energy International Sees Loss Attributable of No More Than HK$23 Mln for Year
CENTURY EN INTL: PROFIT WARNING
IEA警告!石油2030年将面临严重产能过剩,届时OPEC+也“无力回天”
Oil Inches Lower After Rally as Investors Await U.S. Inflation Data, Fed Meeting
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