Macroeconomics

1. [China-Canada Automotive Cooperation] Canadian Prime Minister Mark Carney announced a new electric vehicle strategy on February 5th, including restarting purchase subsidies, and stated that Canada will cooperate with China to promote the domestic production and export of electric vehicles.

2. [Imports and Exports] Data released by the Ministry of Commerce shows that in 2025, my country's total service trade imports and exports reached 80,823.1 billion RMB, a year-on-year increase of 7.4%, and the service trade deficit decreased by 3,439.5 billion RMB. Travel services grew rapidly, with imports and exports reaching 22,067 billion RMB, an increase of 7.6%.

3. [US Initial Jobless Claims] The number of initial jobless claims in the US last week was 231,000, compared to an estimated 212,000 and a previous value of 209,000. The number of continuing jobless claims in the US for the week ending January 24th was 1.844 million, compared to an estimated 1.85 million.

4. [European Central Bank Interest Rates] On February 5th, the European Central Bank kept interest rates unchanged for the fifth consecutive time at its monetary policy meeting, in line with market expectations. The three key interest rates remain unchanged: the deposit facility rate is 2.00%, the main refinancing rate is 2.15%, and the marginal lending rate is 2.40%.

5. [Bank of England Interest Rates] On Thursday, the Bank of England, as expected, kept its benchmark interest rate unchanged at 3.75%, but also stated that if wage growth slows and helps curb inflation, further interest rate cuts may still be possible in the future.

Energy

1. [Crude Oil] On February 5th, international crude oil futures fell. The settlement price of the March contract for US WTI crude oil futures was $63.29 per barrel, a decrease of $1.85 or 2.8%. The settlement price of the April contract for Brent crude oil futures was $67.55 per barrel, a decrease of $1.91 or 2.8%.

2. [Crude Oil] On February 5th, Saudi Aramco stated in a statement that Saudi Arabia has set the official selling price (OSP) for Arab Light crude oil sold to Asia in March at par with the Oman/Dubai average price, a decrease from the previous month. The official selling price in January was a premium of $0.30 per barrel.

3. [Crude Oil] On February 5th, QatarEnergy announced that it has set the official selling price for March Marine crude oil at a discount of $1.00 per barrel to the Oman/Dubai benchmark. The company also set the official selling price for March Land crude oil at a premium of $0.80 per barrel to the Oman/Dubai benchmark.

4. [Crude Oil] On February 5th, shipping schedules showed that approximately 2 million barrels of Venezuelan heavy crude oil are being shipped to a refinery owned by Spanish oil producer Repsol. This crude oil was purchased through a previous agreement between Repsol and trading company Trafigura.

5. [Petroleum Coke] On February 5th, Guangrao Zhenghe Petrochemical Co., Ltd. quoted petroleum coke at 2,850 RMB/ton, an increase of 50 RMB/ton compared to the previous trading day. The sulfur content is approximately 1.5-1.7%, and the company has an 800,000 tons/year delayed coking unit with a daily production of 350 tons of petroleum coke.

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