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☆ China's March crude oil imports surge 22.5% from year earlier
▼ + stars: | 2023-04-13 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

Crude imports in March totalled 52.3 million tonnes, or 12.3 million barrels per day (bpd), according to data from the General Administration of Customs. Analysts pointed to a sharp increase in refined fuel product exports as a key reason behind the jump in crude imports. Total crude imports for the first quarter stood at 136.6 million tonnes, a 6.7% increase over 127.9 million tonnes in the same period last year. China imported 8.9 million tonnes of natural gas in March, up 11.2% from 8.0 million tonnes a year ago. Total natural gas imports for the first quarter stood at 26.7 million tonnes, down 3.6% on last year.

☆ Over 18,000 cows die in Texas dairy farm blaze
▼ + stars: | 2023-04-13 | by ( Andrew Hay | ) www.reuters.com time to read: +1 min

April 13 (Reuters) - More than 18,000 cows died after an explosion and fire at a family dairy farm in west Texas, marking the deadliest such barn blaze on record in the United States. The cause of the fire was under investigation and it was not immediately possible to contact members of the family who own the farm in one of Texas' biggest milk production counties. The blaze prompted calls from the Animal Welfare Institute (AWI), among the oldest U.S. animal protection groups, for federal laws to prevent barn fires which kill hundreds of thousands of farm animals each year. The blaze was the most devastating U.S. barn fire involving cattle since the AWI began tracking such incidents in 2013. Around 6.5 million farm animals have died in such fires in the last decade, most of them poultry.

☆ Memphis council suspends extra police reforms after protests
▼ + stars: | 2023-04-11 | by ( Andrew Hay | ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Memphis' city council voted on Tuesday to indefinitely postpone extra police reforms in response to Tyre Nichols' beating death after protests the proposals watered down ordinances passed in March. "It is in the best interest to allow previous ordinances on criminal justice reform advocated for by Council members and constituency groups to stand alone," Council Vice Chair JB Smiley told the council. Audience members cheered and chanted "Justice for Tyre" after the council approved Smiley's motion to indefinitely table consideration of the proposed reforms. The death of Nichols, 29, prompted outrage and calls for change. Reporting by Andrew Hay, additional reporting by Dan Trotta; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ Oil prices rise as investors move focus from OPEC+ cuts to demand outlook
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

Companies Goldman Sachs Group Inc FollowBEIJING, April 4 (Reuters) - Oil prices posted gains in Asian trade on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors' attention shifting to demand trends and the impact of higher prices on the global economy. The latest pledges bring the total volume of cuts by OPEC+ to 3.66 million bpd including a 2 million barrel cut last October, according to Reuters calculations - equal to about 3.7% of global demand. "In the short term, demand is expected to rise for the summer driving season, but higher oil prices may intensify inflationary pressures and prolong interest rate hikes in many countries, which could dampen demand," he said. The OPEC+ production curbs led most analysts to raise their Brent oil price forecasts to around $100 per barrel by year-end. "But for anything more than that something has to change dramatically from the demand side of the equation," he added.

☆ Virginia teacher shot by 6-yr-old student sues school leaders for $40 mln
▼ + stars: | 2023-04-03 | by ( Andrew Hay | ) www.reuters.com time to read: +2 min

April 3 (Reuters) - A Virginia teacher shot by a 6-year-old student on Monday sued school administrators for $40 million, alleging they ignored warnings from staff and pupils that the boy had a gun. The Jan. 6 attack on Abigail Zwerner in Newport News was unusual among U.S. school shootings given the young age of the assailant and the fact police said the boy shot his first-grade teacher on purpose. The complaint said Richneck Elementary School Assistant Principal Ebony Parker failed in her duty to protect Zwerner despite multiple reports a firearm was on school property and likely in the boy's possession. The 25-year-old teacher was hailed a hero by police for evacuating students from her classroom after the boy shot her once with a handgun he brought from home, injuring her in the hand and chest. The week of the shooting was the first when neither parent was with him in class, the statement said.

"The new cuts are underpinning that the OPEC+ group is intact and that Russia is still an integral and important part of the group," SEB analyst Bjarne Schieldrop said. Higher prices will likely spell more income for Moscow to fund its expensive war in Ukraine, upsetting Saudi-U.S. relations further, Schieldrop said. "The U.S. administration may also argue that higher oil prices will counter its efforts to put out the inflation fire," he added. [1/2] An OPEC flag is seen on the day of OPEC+ meeting in Vienna in Vienna, Austria October 5, 2022. "Producing countries apparently want to see oil prices rise to $90-$100/bbl, but higher oil prices also mean higher risk of economic downturn and sluggish demand," he added.

☆ Oil settles 1% higher on tightening supplies, cooling US inflation
▼ + stars: | 2023-03-31 | by ( Shariq Khan | ) www.reuters.com time to read: +3 min

The most actively traded Brent futures, for June delivery, settled up $1.29, or 1.6%, at $79.89 a barrel. Brent futures for May delivery, which expired upon settlement, gained 50 cents, or 0.6%, to settle at $79.77 a barrel. West Texas Intermediate crude (WTI) for May delivery settled higher by $1.30, or 1.8%, at $75.67 a barrel, gaining about 9% for the week. Signs that inflation is slowing tend to support oil prices as this could point to less aggressive interest rate hikes from the Fed, lifting investor demand for risk assets like commodities and equities. Brent settled lower for the third quarter in a row, the first time that has happened since 2015.

☆ Oil ticks up as US inflation cools, but set to end March lower
▼ + stars: | 2023-03-31 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Brent futures , which have risen nearly 6% this week, were up 26 cents, or 0.3% at $79.53 a barrel by 10:56 a.m. EDT (1456 GMT). West Texas Intermediate crude (WTI) rose 37 cents, or 0.5% to $74.74, having gained about 8% so far this week. If those levels hold, oil prices will record their second straight week of gains, but Brent and WTI were also set for losses of about 5% and 3%, respectively. Oil prices were also buoyed after producers shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. OPEC pumped 28.90 million barrels per day (bpd) this month, a Reuters survey found, down 70,000 bpd from February.

LONDON, March 31 (Reuters) - Oil prices ticked up on Friday with U.S. inflation data showing some signs of slowing price rises, but on the month oil was on course for its weakest performance since November. Oil prices have broadly recouped these losses as worries about a global banking crisis have abated after banks in the U.S. and Europe were rescued. While the inflation data showed signs of cooling, it remained elevated, which could lead to the Federal Reserve raising interest rates one more time this year. Oil prices were buoyed after producers shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. Also sending a bullish signal was data showing U.S. crude oil stockpiles fell to a two-year low.

LONDON, March 31 (Reuters) - Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. U.S. West Texas Intermediate (WTI) crude fell 44 cents, or 0.5%, to $73.93, having gained about 7% so far this week. Markets are now waiting for U.S. personal consumption expenditures (PCE) inflation figures, tracked closely by the Federal Reserve, which are due at 1230 GMT. Also sending a bullish signal was data showing U.S. crude oil stockpiles fell to a two-year low. With oil prices recovering from recent lows, the Organization of the Petroleum Exporting Countries and allies led by Russia are likely to stick to their existing deal to cut oil output at a meeting on Monday, sources said.

BEIJING, March 31 (Reuters) - Oil prices ticked down in Asian trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over U.S. economic data to be released later in the day. U.S. West Texas Intermediate (WTI) crude fell by 22 cents, or -0.3%, to $74.15, having gained about 8% this week. Markets are now waiting for U.S. spending and inflation data on Friday and the resulting impact on the U.S. dollar. "Disappointing data may cause concerns about Fed policy again and cap the recent gains," she added. The U.S. Energy Information Administration said U.S. crude oil stockpiles fell unexpectedly in the week to March 24 to a two-year low.

BEIJING, March 31 (Reuters) - Oil prices were very slightly down in Asian morning trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over U.S. economic data on Friday. Markets are now waiting for U.S. spending and inflation data on Friday and the resulting impact on the U.S. dollar. Industrial activity in China has become a key determinant of prices in recent weeks after its ending of coronavirus-related restrictions, amid weaker global demand. Oil prices are set to cap a second straight week of gains after the largest bank failure after the 2008 financial crisis spooked traders and roiled markets. The U.S. Energy Information Administration said U.S. crude oil stockpiles fell unexpectedly in the week to March 24 to a two-year low.

[1/3] View of the "Rust" movie set at Bonanza Creek Ranch near Santa Fe, New Mexico, U.S., January 20, 2023. REUTERS/Drone BaseMarch 31 (Reuters) - A Santa Fe judge on Friday was to consider a plea deal that could bring the first conviction for the 2021 shooting death of cinematographer Halyna Hutchins during filming of the Western movie "Rust" in New Mexico. Santa Fe District Court Judge Mary Marlowe Sommer was to preside over a virtual hearing in Halls' case scheduled for noon ET on Friday. As first assistant director, Halls was responsible for set safety on "Rust." Armorer Hannah Gutierrez-Reed, who was responsible for firearms safety and training, will enter the same plea, according to her lawyer.

☆ Kentucky lawmakers override governor's veto of transgender bill
▼ + stars: | 2023-03-29 | by ( Andrew Hay | ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Republican lawmakers in Kentucky on Wednesday overturned the governor's veto of a bill to ban transgender youths from gender-affirming healthcare and restrict which toilets they use in public schools, voting in line with a national conservative-led movement. Supporters of the bill said they passed the legislation to protect children from undergoing gender-affirming treatments they would regret later in life. The American Civil Liberties Union of Kentucky promised legal action to stop medical sections of the bill taking effect in about three months. Measures include bans on discussion of gender identity in schools, clampdowns on drag shows and blocking transgender participation in sports. West Virginia on Wednesday passed a law banning gender-affirming care for transgender youth after about 10 other states approved laws restricting or outlawing medical treatments for transgender minors.

The project is expected to cost 83.7 billion yuan ($12.2 billion), partner Panjin Xicheng Industrial Group said in a statement on WeChat on Sunday. Construction at the complex will start in the second quarter after the project secures the required administrative approvals, Aramco said. Before the pandemic, Aramco signed two other initial agreements for refinery-petrochemical investments in China. The other is with Shandong Energy that includes a potential crude supply agreement and chemical products offtake deal, as well as exploring collaboration on an integrated refining and petrochemical complex in China. Earlier in March, Saudi Aramco also broke ground on a $7 billion project to produce petrochemicals from crude oil at its South Korean affiliate S-Oil Corp's (010950.KS) refining complex in the port city of Ulsan.

☆ Explainer: How did live rounds get onto the set of Alec Baldwin's 'Rust'?
▼ + stars: | 2023-03-27 | by ( Andrew Hay | ) www.reuters.com time to read: +3 min

March 27 (Reuters) - Cinematographer Halyna Hutchins was killed on the New Mexico set of Western movie "Rust" in 2021 after live ammunition was mixed with dummy rounds. Five other live rounds were later found on the set by investigators. Investigators have not been able to establish where the live rounds found on the "Rust" set came from. Kenney has denied that the live rounds on set came from his company. Charging documents held Gutierrez-Reed responsible for "allowing live ammunition on the set," but not for bringing them to the production.

☆ Factbox: Major school shootings in the United States
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 27 (Reuters) - A 28-year-old woman shot dead three children and three adults at a private Christian school in Nashville, Tennessee, on Monday, before police killed her. SANDY HOOK: Dec. 14, 2012 - A man shoots dead his mother, then kills 20 children and six adults before killing himself at Sandy Hook Elementary School in Newtown, Connecticut. UVALDE: May 24, 2022 - A man fatally shoots 19 students and two teachers at Robb Elementary School in Uvalde, Texas before he was shot dead by Border Patrol agents. PARKLAND: Feb. 14, 2018 - A former student at Marjory Stoneman Douglas High School in Parkland, Florida, opens fire with an assault-style rifle, killing 17 students and educators. He is fatally shot by police.

☆ Kentucky governor vetoes bill targeting transgender youth
▼ + stars: | 2023-03-24 | by ( Andrew Hay | ) www.reuters.com time to read: +1 min

March 24 (Reuters) - Kentucky's Democratic governor on Friday vetoed a Republican bill to ban transgender youths from gender-affirming healthcare and restrict public toilets they use, bucking a national Republican-led movement. Governor Andy Beshear, running in November for a second-term in Republican-leaning Kentucky, said the bill would increase youth suicides and permit excessive government interference in personal healthcare decisions. Supporters of the bill said they were trying to protect children from undergoing gender-affirming treatments they would regret later in life. The Kentucky bill would let teachers refuse to refer to transgender students by their chosen pronouns, outlaw gender reassignment surgery for minors, stop use of puberty blockers and prohibit gender-affirming hospital services. In Kentucky, Beshear said in a statement that the bill would turn teachers into "investigators" prying into students' lives.

U.S. West Texas Intermediate (WTI) crude rose 64 cents, or 0.9%, to $70.31. The U.S. dollar fell to its lowest level since Feb. 3 against a basket of other currencies, supporting oil demand by making crude cheaper for buyers using other currencies. "The big story here is that build ... in crude, which is enough to get us to the 22-month high in crude oil storage. We just have a lot of crude oil in storage and it's not going to go away anytime soon," said Bob Yawger at Mizuho, a bank. An emergency rescue of Credit Suisse Group AG (CSGN.S) over the weekend helped revive oil prices.

U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.6%, at $69.28. Traders and analysts will be looking out for data from the U.S. Energy Information Administration on Wednesday to see whether it confirms signs of weaker crude demand. Oil prices posted their biggest declines in months last week, after high-profile U.S. bank failures beginning March 10 and a crisis at Europe's Credit Suisse. An emergency rescue of Credit Suisse over the weekend helped revive oil prices. OPEC+ officials, hedge fund managers and oil market participants have called the recent decline in oil prices speculative and insisted that increasing demand will push prices to higher levels in the coming months.

REUTERS/Florence LoBEIJING, March 20 (Reuters) - Chinese state energy giants have made a number of multi-billion dollar investments in Russia, one of China's top oil and gas suppliers, across various stages of the energy supply chain. Below are the main investments by the Chinese government, key state-owned energy companies and their listed vehicles, based on company releases and Reuters reports. 2005: Sakhalin-3 Veninsky oil projectRussian oil giant Rosneft (ROSN.MM) and Sinopec (600028.SS), agreed to jointly explore the Sakhalin-3 Veninsky block during a visit by China's then-president Hu Jintao to Moscow in 2005. It became China's first energy project in Russia. 2019: Arctic LNG 2In 2019 China's CNOOC Ltd (0883.HK) and PetroChina agreed to buy a combined 20% stake in the $25.5 billion Arctic-2 liquefied natural gas project led by Novatek.

Brent crude futures were down 76 cents, or 0.9%, to $82.02 per barrel by 11:51 a.m. EDT (1551 GMT). U.S. West Texas Intermediate crude futures (WTI) fell 75 cents, or 1%, to $75.93 a barrel. Fears of contagion from the failure of Silicon Valley Bank led to a sell-off in U.S. assets at the end of last week, while state regulators closed New York-based Signature Bank (SBNY.O) on Sunday. A weaker greenback makes oil cheaper for holders of other currencies and typically supports oil prices. Worries about further monetary tightening by the Federal Reserve have been exacerbated by high U.S. crude oil inventories.

☆ Crude prices rise slightly on China recovery, weaker dollar
▼ + stars: | 2023-03-13 | by ( Andrew Hayley | ) www.reuters.com time to read: +3 min

BEIJING, March 13 (Reuters) - Oil prices ticked up in Monday's Asian trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. After initially slipping in early trading, Brent crude futures were up 25 cents, or 0.30%, to $83.03 per barrel by 0700 GMT. West Texas Intermediate crude futures (WTI) ticked up by 23 cents, or 0.30%, to $76.91 a barrel. A weaker dollar makes oil cheaper for holders of other currencies, lending support to oil prices. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.

☆ Oil prices tick up on China demand and weaker dollar
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

BEIJING, March 13 (Reuters) - Oil prices ticked up in Monday Asian late morning trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. West Texas Intermediate crude futures (WTI) ticked up by 20 cents, or 0.26%, to $76.88 a barrel. "From an oil trader's perspective, the U.S. dollar should pull back as traders give up on a re-acceleration of Fed hikes; this, in turn, clears a path for more robust Chinese fundamentals to dominate commodity trading," Innes added. A weaker greenback makes oil cheaper for holders of other currencies, lending support to oil prices. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.

☆ Oil prices slip as concerns over rate hikes rattle investors
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 13 (Reuters) - Oil prices slipped in Monday Asian morning trade as concerns about possible further U.S. interest rate hikes continue to rattle investors, though a recovery in Chinese demand and a weaker dollar provided some support. Market sentiment was fragile as worries about further monetary tightening by the Fed have been exacerbated by high crude oil inventories in the U.S., analysts from ANZ Bank observed in a note on Monday morning. A weaker greenback , which makes oil cheaper for holders of other currencies, helped lend support to oil prices. The dollar index was down 0.2% in Asian morning trade on Monday. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.

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