BRENT CRUDE FUTURES SETTLE AT $100.06/BBL, DOWN $1.21, 1.19 PCT

RAY DALIO SAYS US IS ENTERING PERIOD OF ‘GREAT TURBULENCE’

China passenger new-energy vehicle wholesale sales are estimated at 1.22 million units in April, up 7% from a year earlier and 7% from March, according to preliminary data from the China Passenger Car Association, extending both year-on-year and month-on-month gains. The CPCA said higher oil prices accelerated the shift from gasoline vehicles to EVs in both domestic and overseas markets, while optimized production schedules helped lift April sales growth to a record 7% month-on-month increase for the period. The association also cited stronger demand driven by the Beijing auto show, new and facelifted model launches, and rising EV travel demand ahead of the May Day holiday. The group added that overseas demand for Chinese NEVs remained strong amid elevated fuel prices, with Chinese brands benefiting from leading product competitiveness and pricing advantages that continued to support export growth.