Market News: The Swedish Social Democrats proposed a temporary bank tax on bank profits.

Market News: Occidental Petroleum Company and Abu Dhabi National Oil Company will begin preliminary engineering studies for a direct air capture facility in the UAE.

British Chancellor of the Exchequer Hunt: My gut feeling is that we may need to launch a central bank digital currency.

CEO of the Nigerian National Petroleum Corporation: We are actively advancing our plan to extend the Trans-West African Pipeline through 11 countries to Morocco and then into Europe.

Vincent, Deputy Governor of the Bank of Canada: Obviously, the inflation issue has not been resolved; a large amount of uncertainty continues to affect our judgment.

Vincent, Deputy Governor of the Bank of Canada: The downward path of inflation is slower than expected; inflation is proving to be more persistent than many expected.

Vincent, Deputy Governor of the Bank of Canada: Our traditional assumption (the frequency of price changes remains the same) does not apply in the more volatile inflation period since 2020.

Bank of Canada Deputy Governor Vincent: We still have a long way to go before pricing behavior returns to normal.

Vincent, deputy governor of the Bank of Canada: The biggest risk is that the recent pricing behavior of companies may be self-perpetuating.

Vincent, Deputy Governor of the Bank of Canada: If the recent pricing behavior of companies becomes the new normal, it may complicate the return of inflation to low, stable and predictable conditions.

Vincent, Deputy Governor of the Bank of Canada: More frequent and larger price increases by businesses are closely related to strong growth in inflation.

CEO of the Nigerian National Petroleum Corporation: In the next three to four years, Nigeria will become the natural gas center of West Africa.

CEO of the Nigerian National Petroleum Corporation: We are working with investors and partners to bring back a large amount of production capacity to Nigeria and supply natural gas to the market.

US President Biden: Drug manufacturers will discuss lowering prices.

Hungarian Banks Association: Favorable interest rates will help boost lending to businesses and households and revive the construction industry.

Hungarian Banks Association: Supports the Economy Ministry’s proposal to require banks to implement voluntary interest rate caps.

Spot palladium fell 2.00% on the day and is now at $1,183.10 per ounce.

U.S. House Speaker McCarthy: I have a good relationship with House Minority Leader Jeff Reese.

ADNOC Vice President Sales and Trading: ADNOC’s trading unit seeks organic growth rather than M&A.