The decline in US oil inventories causes gains for oil and rises to 4%.

During the past week, US gasoline inventories recorded a decrease,
and this was contrary to expectations that indicated an increase,
in addition to a sudden halt to production facilities in the Gulf of Mexico due to Hurricane “Ian”,
these factors helped in achieving oil gains of about 4% during trading on Wednesday,
as US crude futures contracts for November delivery recorded prices of $82,
which increased Brent crude to $88 per barrel over the December contract.

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Production disrupted due to typhoon

Apple after the failure of the expected demand for the iPhone 14 is retreating from the increase in production

WhatsApp caused major banks to be fined due to errors in record keeping.

Production disrupted due to typhoon

The Office of Safety and Environmental Rescue in the United States
confirmed the significant decline in oil production,
which amounted to a loss of 190,000 barrels per day,
which is equivalent to 11% of the daily production of crude oil in the American Gulf region,
and this disruption was due to Hurricane “Ian” in Florida and because of it,
9 companies closed before the hurricane,
waiting for the weather to improve again.

Declining stocks

On Tuesday of this week,
the American Petroleum Institute confirmed expectations of an increase
in inventories by about 4 million barrels,
but data from the US Energy Administration issued a decline
in crude oil stocks by the equivalent of 215,000 barrels,
with a significant decline of about two million barrels,
compared to a rise to 700 thousand barrels.
gasoline stocks

Oil prices witnessed a significant decline in the last week,
reaching their lowest level in the year,
and this came as the great expectations regarding
the exposure of the global economy to a recession stage,
and this is mainly due to the tightening policy
that central banks adhere to control inflation.

While the markets are waiting for the next meeting of the “OPEC +” alliance today,
Wednesday, expectations still indicate a significant decrease
in oil production during November of this year,
and expectations indicate that Russia seeks to offer
the group that affects the oil market to reduce production.
About one million barrels per day

The Organization of the Petroleum Exporting Countries and
its partners are seeking to reduce their
production by about 500,000 barrels per day,
and maintaining the price of $90 per barrel needs
to be reduced by about one million barrels per day.

Apple after the failure of the expected demand for the iPhone 14 is retreating from the increase in production

After the release of the latest version of the “iPhone 14” phone by Apple,
and after expectations of high demand for the new version of the company,
the truth greatly contradicted expectations,
which prompted the technology giant to reduce production
and be satisfied with only producing 90 million phones during the half The second of this year,
and these levels are very close to the level of the last year 2021,
which is also in line with the company’s expectations.
The company also confirmed a very important point through the company interested
in manufacturing electronics, which recently asked all suppliers to completely
withdraw from their quest to raise In the assembly volumes of the “iPhone 14” product,
reached 6 million units in the second half of the year as well

However, some sources within the company confirmed the noticeably increased
demand from users for the latest version compared to the previous versions,
despite the high price, and the company directed that it would shift its
production capacity to premium products instead of the lower-priced versions
if strong indications appear on this only.

The share of “Apple” recorded a significant decline in Wednesday’s trading by about 3%,
while the company expected a significant increase in sales in the coming weeks,
while some suppliers are trying to prepare to meet demand by about 7%,
and also due to the economic situation in China.

Which is affected by the coming of the expected global economic recession,
which considers China to be the largest market in the field of smartphones,
and in the end this also affected the sales of “iPhone 14”.

Intel launches reclaiming its position in the chip industry

As part of Intel’s efforts to compete and be present in the electronic chip industry,
it is trying to advance in the manufacture of new processors for personal computers
as well as semiconductors to process graphics,
as well as programs that help facilitate dealing with technology,
and Intel will also focus on “Core” processors.
Which currently offers great performance in gaming

All this also came in the company’s endeavor to regain its position,
which it lost after the great competition from the rest of the companies,
and it retreats from being the largest company in the chip industry
in the year during the last years.

The company also admitted the decline in demand
for the company’s main product,
but the company is still maintaining production and
indicates that it is seeking investments for the future.

artical name The decline in US oil inventories causes gains for oil and rises to 4%.

WhatsApp caused major banks to be fined due to errors in record keeping.

Some major banks and institutions had been negligent in monitoring
all correspondence of employees through the unauthorized application of “WhatsApp”
according to the regulations, and accordingly,
more than 12 banks were subjected to penalties after
a wide investigation through the regulatory authorities in the United States,
which approved Financial penalties amounted to more than $2 billion

The fines were as follows: a fine of $1.1 billion from the Securities and Exchange Commission,
and also about $710 million from the Commodity Futures Trading Commission.
These penalties were imposed on banks such as Bank of America, Goldman Sachs Group,
and Citigroup. A financial penalty of a fine of $ 200 million,
starting from December, on the “JP Morgan Chase” bank,
bringing the total end up to $ 2 billion,
and therefore the largest penalty due to errors in record
keeping was taken against American banks.

At the request of “Musk” and “Twitter”, the interrogation date regarding the acquisition deal may be postponed

According to expectations from close sources,
“Elon Musk”, along with the head of “Twitter”,
is seeking to postpone the start date of the first sessions
of the acquisition of Twitter by businessman and billionaire “Musk”,
which is estimated at $ 44 billion,
while the date was previously set in The seventeenth of next October,
but there was no comment from “Twitter” regarding the matter,
and the main reason for the dispute over the deal
was an allegation by Elon Musk about “Twitter” deceiving him
regarding automated accounts and spam mail.

On the other hand, Twitter believes that These justifications
are just an attempt not to fulfill the promises of “Music” from
the least implementation of the acquisition deal

It is worth noting that the shareholders of “Twitter” have agreed
to the offer submitted by “Mask” to acquire the company at a value of 44 billion dollars,
and this step came as a prelude to the trial that was set for next month,
and there was no change in the date so far,
voting was opened within 7 minutes,
and the stock had fallen from the transaction price at $54.20 per share,
to currently reach $41.77, and thus it has fallen significantly from its price.

artical name The decline in US oil inventories causes gains for oil and rises to 4%.

The decline in US oil inventories causes gains for oil and rises to 4%.

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