U.S.-China Tariff Reduction and Dollar Dip Bolster Oil Prices

15-05-2025


Oil prices have maintained their position near two-week highs, buoyed by a temporary truce in the U.S.-China trade war and a weakening U.S. dollar. The agreement between the world's two largest economies to reduce reciprocal tariffs has injected optimism into the market, eroding some of the demand-side pessimism that had previously weighed on prices.

The dollar's decline, following lower-than-expected U.S. inflation data, has further supported oil prices by making the commodity less expensive for holders of other currencies. This dynamic has contributed to an increase in demand, as evidenced by the rise in Brent crude futures and U.S. West Texas Intermediate (WTI) crude in recent trading sessions.

Market analysts have noted the positive impact of the tariff reductions but caution that the lingering effects of the trade war could still influence the market. The reported declines in U.S. gasoline and distillate inventories have also provided support, signaling resilient fuel demand despite the rise in crude stocks.

As the market continues to digest these developments, attention is turning to the potential implications of the U.S.-China agreement and the dollar's trajectory for future oil price movements. The situation remains fluid, with traders closely monitoring inventory data and geopolitical developments for further cues.

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Historic Turing Documents Nearly Destroyed Before Auction

{'$date': '2025-05-22T10:19:25.692Z'}


A remarkable collection of scientific papers belonging to Alan Turing, the renowned Second World War codebreaker and pioneer of computer science, has been discovered in a loft and is set to be auctioned next month. The archive, which includes a signed personal copy of Turing's 1939 PhD dissertation 'Systems Of Logic Based On Ordinals' and his seminal 1937 paper 'On Computable Numbers', was nearly shredded before its historical significance was recognized.

The papers, described as the first programming manual of the computer age, were originally gifted to Turing's friend and fellow mathematician Norman Routledge by Turing's mother, Ethel. After Routledge's death in 2013, the documents were stored in a relative's loft, where they remained unnoticed until recently. The discovery was made when Routledge's nieces and nephews were sorting through his belongings and considered discarding the papers, unaware of their value.

Rare Book Auctions in Lichfield, Staffordshire, which is handling the sale, has valued Turing's PhD dissertation alone at between £40,000 and £60,000. The collection also includes letters from novelist EM Forster and a telegram from Turing to Routledge, adding to its historical and academic significance. The papers, known as 'offprints', were produced in limited quantities for academic circles, making them rare finds in today's market.

Alan Turing's contributions to computer science and his role in breaking the Enigma code during the Second World War have cemented his legacy as one of the most influential figures of the 20th century. The upcoming auction offers a unique opportunity for collectors and institutions to own a piece of this legacy, shedding light on the personal and professional life of a man whose work continues to impact the world today.