The ultra-deep oil and gas production in China's desert oil fields has exceeded 26 million tons.

(1) The euro fell to its lowest level since May 2025. Earlier reports indicated that Spanish government officials are preparing for early elections, heightening investor concerns over political and fiscal risks in Europe. (2) The euro fell as much as 0.8% against the US dollar during Asian trading, reaching 1.1161. Traders said that Asian hedge funds were selling euro against the dollar in the spot market, triggering more sell-offs after hitting key option levels, which further amplified the decline. (3) Three people close to Spanish Prime Minister Pedro Sánchez revealed that after the ruling party’s heavy defeat in last week’s parliamentary elections, several cabinet ministers, as well as senior officials in the government and the ruling Socialist Party, believe that holding early elections would be the best strategy. Since the discussions were not public, these sources requested anonymity. (4) This news came amid growing market concerns about France’s political stability and budget outlook. (5) Homin Lee, Senior Macro Strategist at Lombard Odier Singapore Ltd., said that bond and currency markets are clearly reflecting investors’ unease over the increasing instability of the French government, as well as concerns about the gradual relaxation of fiscal discipline ahead of the country’s 2027 elections.

According to Jinse Finance, Bank of America recently released a research report stating that as the fourth quarter of 2026 approaches, the storage cycle will gradually exit the previous J-shaped growth stage and enter a new phase of development. This is consistent with Micron Technology's (MU.US) recently announced performance and latest guidance: the company's sales in the fourth quarter of fiscal year 2026 are expected to increase by 31% quarter-on-quarter, lower than the 74% in the third quarter; the company expects sales in the first quarter of fiscal year 2027 to grow by only 13.5% quarter-on-quarter.