Oil futures tumbled more than $5 a barrel on news that the Biden administration is considering releasing about 1 million barrels a day from the U.S. Strategic Petroleum Reserve (SPR) for several months to cool surging crude prices.
Brent crude futures were down $4.71, or 4.2 percent, at $108.58 a barrel by 0035 GMT. U.S. West Texas Intermediate futures fell $5.45, or 5 percent, to $102.74 a barrel.
At an earlier time, gasoline prices had already reached record levels because of the Russia-Ukraine conflict.
The prices of other commodities like the Nitinol are also expected to be volatile.
What is Nitinol?
Nitinol is a shape memory alloy, which is a special alloy that can automatically restore its own plastic deformation to the original shape at a certain temperature, and has good plasticity. In addition to its unique shape memory function, memory alloys also have excellent characteristics such as wear resistance, corrosion resistance, high damping and superelasticity.
Nickel-titanium alloy has a strong "memory", it can accurately restore its original shape with the change of temperature, use it to fill teeth, and even the frog holes that you have twisted around can be inlaid very tightly; use it to When connecting the pipes, it will be like the tight hoop on Sun Wukong's head, which can shrink automatically and is very firm.
Uses of Nitinol
The pipe joint device made of nickel-titanium alloy can automatically shrink when heated, so the pipe joint can connect the catheter very firmly. This kind of pipe joint is used in the system of naval ships and some chemical devices. Many countries use shape memory alloys to make self-fastening rivets to fasten the connection of some special parts such as aircraft and spacecraft. The United States also uses shape memory alloys to develop an antenna that opens automatically in a spacecraft. This antenna can be automatically folded and put into the spacecraft. As the flight altitude rises, the temperature rises under the sunlight, and the folded antenna will automatically open again.
Nitinol can also be used for the early alignment and leveling of patients' dentition. Due to the superelasticity and shape memory properties of the Nitinol archwire and the lower stress-strain curve, the Nitinol archwire is currently routinely included in the clinical practice. The arch wire of the orthodontic system.
Nickel-titanium push springs and tension springs are springs for orthodontics. They are super-elastic with nickel-titanium, and are suitable for orthodontic treatment to open up gaps between teeth and pull teeth in different directions.
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Inflationary pressures on Canadians continue to rise. The consumer-price index rose 6.7% in March from a year earlier, the biggest increase since January 1991, according to the latest figures from Statistics Canada.
On a month-on-month basis, Canada's CPI rose 1.4 percent in March, also accelerating from February's 1.0 percent rise.
Prices in the eight major sectors covered by the statistics continued to rise. The uptrend comes against the backdrop of continued price pressures in the Canadian housing market, widespread supply chain constraints, and geopolitical conflicts, according to CBC. A variety of factors have affected energy, commodity, and agricultural markets. Meanwhile, Canada's employment picture continued to improve in March, with the unemployment rate falling to a record low and the average hourly earnings of employees rising.
Excluding gasoline, Canada's CPI rose 5.5 percent year on year in March. It is also the highest since comparable data began in 1999.
The widespread supply chain constraints and geopolitical conflicts are expected to continue to affect the prices of the Nitinol.
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