From October 20-22, by the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Conference returns once again. Nobel laureates and Turing Award winners will take the stage to discuss the future and trends of technology, and the internet-famous professor who "rescues" people from anxiety and the era of involution—Macfarlane—will hold a live dialogue with Xiang Biao!
Limited seats available, first come first served. Let us join together for the appointment with sustainability! [Click to register]
Stimulated by bearish news from the Middle East and the Russia-Ukraine conflict, international crude oil futures prices fluctuated within a narrow range in early trading on the 16th, rose significantly around midday, and closed with notable gains. The front-month contract for New York crude oil futures once again broke through $100 per barrel for the first time in nearly a month, while the front-month contract for London Brent crude oil futures climbed to its highest level in nearly five months.
As of the close that day, the November-delivery light sweet crude oil futures on the New York Mercantile Exchange rose $3.44 to settle at $101.41 per barrel, a gain of 3.51%; the December-delivery London Brent crude oil futures rose $3.94 to settle at $109.86 per barrel, a gain of 3.72%.
Iran's navy said on the 16th that its monitoring team had discovered another "non-compliant" oil tanker on fire in the eastern waters of the Strait of Hormuz within the past few hours. A day earlier, Iran's navy reported finding a burning oil tanker in the same waters. Analysts at the U.S. geopolitical analysis firm Eurasia Group raised the probability of conflict escalation in the Persian Gulf region from 35% to 65%. The firm's analysts said the current stalemate is unsustainable for the U.S. side.
U.S. President Trump recently claimed that an "energy ceasefire" reached between Russia and Ukraine has not been confirmed, and the U.S. government's decision to ease sanctions on Russian diesel exports is facing pressure from Congress. Some senators from both the Democratic and Republican parties sent a letter to Trump on the 13th, demanding the revocation of the recently reached agreement with Russia on diesel trade. On the 16th, bipartisan House members jointly proposed a bill aimed at preventing the Trump administration from reaching oil-sector deals with Russia. In addition, Russia's Defense Ministry said on the 15th that Ukraine launched a large-scale attack on a refinery in Russia's Ryazan region in the early hours of that day, causing a fire at the refinery.
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