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☆ Citi names 3 U.S. traded stocks set to benefit China's stimulus program
▼ + stars: | 2024-10-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Citi has identified three U.S.-traded Chinese stocks that are positioned to benefit from Beijing's recently announced economic stimulus program. The Chinese government's efforts have already shown a significant impact, with Chinese internet stocks experiencing substantial gains last week. Despite these impressive gains, Citi analysts believe the market has not fully priced in the potential for improved macroeconomic conditions and earnings growth. The three stocks are also traded in the U.S. Tencent The technology conglomerate and owner of WeChat stands to benefit from multiple aspects of the stimulus program, according to Citi. Meituan Meituan , a Chinese shopping platform, is also poised to benefit from increased consumer spending, particularly in areas such as food delivery and local services, Citi said.

Persons: Alicia Yap, Tencent, Meituan, — CNBC's Michael Bloom Organizations: Citi, Trip.com Locations: Beijing's, China, U.S, Tencent, Weibo, Golden

☆ Strategist: Strong short-term momentum for China stocks, but we prefer markets with visible growth
▼ + stars: | 2024-10-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrategist: Strong short-term momentum for China stocks, but we prefer markets with visible growthYap Fook Hien of Standard Chartered Bank stays cautious on China for the longer term as deflationary concerns loom large for the world's 2nd largest economy.

Organizations: Standard Chartered Bank Locations: China, Hien

☆ Peleliu: US Marine Corps rebuilds runway on site of ‘nightmare’ World War II battle
▼ + stars: | 2024-06-30 | by ( Brad Lendon | ) edition.cnn.com time to read: +7 min

The Marines named the rebuilt landing strip the “Sledge” runway in honor of a veteran of the Peleliu battle, Pfc. The United States must recapitalize islands gained during World War II to form a Second Island Chain of strategic expeditionary points,” Georgulis wrote. For Washington, establishing strong ties to Pacific island states is also seen as a way to keep China from gaining footholds in the region. Along with the runway, US Marines are helping make improvements to the Peleliu Civic Center Museum, to house artifacts from the World War II battle. At an event last month marking the landing of the Marine aircraft on Peleliu, island Gov.

Persons: weren’t, Eugene Sledge, Corbis, Sledge, Grant Georgulis, ” Georgulis, Xi Jinping, Biden, Palauans, Carlos Del Toro, Del Toro, Surangel Whipps, Emais Roberts, ” Organizations: CNN, Marine Corps, Marines, KC, Heritage Command, 1st Marine Regiment, HBO, ” Troops, First Marine Division, Pentagon, “, US Air Force, US Defense Department, Marshall, Xinhua, US Coast Guard, US, Palau, Peleliu Civic Center Museum, Marine, Gov Locations: Peleliu, China, Palau, Okinawa, ”, Beijing, Japan, Philippines, United States, Marianas, Guam, China’s, Yap, Federated States, Micronesia, Pacific, Washington, Papua New Guinea, Solomon Islands, Palau’s, Koror, South Korea, Taiwan

☆ Does Your Dog Really Belong in This Restaurant?
▼ + stars: | 2024-05-16 | by ( Rachel Sugar | ) www.nytimes.com time to read: +1 min

On a quiet weekday evening inside a restaurant in Brooklyn, a dog under a table announced its presence with a single pronounced yap. At a scoop shop in downtown Manhattan, a large white poodle was spoon-fed what appeared to be vanilla ice cream. In the dining room of a chic Midtown restaurant, a teacup Pomeranian strutted across the floor. There are 617,000 licensed dogs in New York City, and the vast majority, presumably, eat in. But while no city agency tracks how many dogs are regulars at the city’s restaurants, anecdotal evidence suggests that the number is far from zero.

Persons: Horton, ”, Beth Torin Organizations: New, of Food Safety, New York City Department of Health, Mental Hygiene Locations: Brooklyn, yap, Manhattan, Pomeranian, New York City

☆ Gen Z would rather take a chance on a new app than use 'embarrassing' Instagram if TikTok gets banned
▼ + stars: | 2024-04-25 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +9 min

AdvertisementAs a potential US TikTok ban looms, Gen Zers are contemplating what app might take its place. A potential TikTok ban loomsThe US Senate passed a bill on Tuesday that could see TikTok removed from app stores. It's unclear if such AI tools would convince Gen Z to scroll on Instagram and use it more often. AdvertisementJaxson Whittle, an older Gen Z, told BI he holds a different opinion. "No hate to them, but I don't think it's the move for Gen Z at the moment."

Persons: Young, —, Zers, Joe Biden, They'd, Gabrielle Yap, Instagram, Josie doesn't, Gen, Hibaq Farah, TikTok, Farah, Tabitha Mae, I'm, I've, Yap, Kat, It's, Sophie Lund, Yates, Hargreaves Lansdown, Jaxson Whittle, TikToker Cassandra Marie, Gen Z, she's Organizations: Service, Senate, Business, Pew Research Center, Meta, Facebook, BBC, YouTube, Gen Locations: TikTok

☆ Gen Zers are in their 'boycott era', even when it comes to which jobs they apply for
▼ + stars: | 2024-04-17 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +9 min

Gen Zers are in their boycott era, turning against anything that doesn't align with their beliefs. But McGoff said Gen Zers wanted their workplace to align politically — so they had to talk about it. Getty ImagesGabrielle Yap, who's 26, said Gen Zers grew up in a time when information was available at their fingertips 24/7. "The company's public stance on these points, as well as the managers' views, affect the organization's capacity to hire Gen Zers," he said. It was a 2018 survey by Deloitte, not Deloitte's 2023 Gen Z and Millennial Survey.

Persons: Zers, —, there's, Gen, Z, Gen Zers, Karim Adib, Omar Taleb, Zer, George Floyd, Erin McGoff, McGoff, Adib, Gabrielle Yap, We've, we're, Yap, It's, Khalid Machchate, Zoomers, would've, Taleb Organizations: Service, Starbucks, McDonalds, Hyundai, HP, Siemens, Deloitte, Survey, ClickThrough, Bright Network, W Technology Locations: Israel, Gaza, who's, Lindsey, Africa

☆ US military rescued mariners stranded in the Pacific after they used palm leaves to spell 'HELP' on the beach
▼ + stars: | 2024-04-10 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

The crew of USCGC Oliver Henry rescues three mariners stranded on Pikelot Atoll, Yap State, Federated States of Micronesia, on April 9, 2024. "This successful operation underscores the effective coordination and partnership between the US Coast Guard, the US Navy, and regional partners," Garcia said. The crew of USCGC Oliver Henry rescues three mariners stranded on Pikelot Atoll, Yap State, Federated States of Micronesia, on April 9, 2024. The Coast Guard has also carried out more recent searches for individuals who went missing while on cruise ships. AdvertisementThe Coast Guard has long operated in the Pacific — its ships used to patrol American territories and other nearby countries for decades.

Persons: —, Chelsea Garcia, USCGC Oliver Henry, Garcia, Oliver Henry Organizations: Navy, Service, Federated, US Coast Guard Forces Micronesia, US Navy, US Coast Guard, Coast Guard, Coast Guard HC, 130J, Coast, Guard Locations: American, Pikelot, Federated States, Micronesia, Guam, Tuesday's Coast, Yap State, Polowat, China

☆ Leaving the army to go corporate is a tough road to take. We asked 3 veterans how they survived and thrived.
▼ + stars: | 2024-04-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

The decision, Tan told BI, came to him after his aunt died. Tan told BI that he left the SAF without any job offers and had to rely on his savings while job hunting. But contextualizing the skills they'd picked up in the military and maintaining their resilience, the veterans told BI, was their key to success. I got to interact with new soldiers and helped to make their training more interesting," Tan told BI. Tan told BI that he spent six months taking courses before he landed his first full-time role in the private sector.

Persons: —, Tan, who'd, Tan wasn't, they'd, Jiahui Ong, Ong, Kwong Weng Yap, Yap, Jianhui Tan, Euromonitor, you'll, Adrian Choo, Choo Organizations: Service, Singapore Armed Forces, SAF, BI, Business, DBS Bank, DBS, Navy Locations: Australia

☆ Flaco the Owl's Death Shows Risk of Rat Poison to Wildlife in Cities
▼ + stars: | 2024-03-28 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Because the rat poison does not kill the animal for several days, there's time for an owl to prey on it and also injest the poison. Murray told Tufts Now that the numbers of raptors with rat poison seen by the clinic had steadily increased. Raccoons, foxes, skunks, coyotes, and house pets can also be exposed to rat poison, according to the California Department of Fish and Wildlife. While some cities are amping up the use of rat poison, others are addressing the threat posed to wildlife. The use of rat poison has been restricted in California for years, though the rodenticides continued to show up in animals that were not being targeted.

Persons: —, Flaco, Flaco's, Maureen Murray, Murray, Gavin Newsom, Tiffany Yap Organizations: Service, Central, Zoo, Yorker, Police, Business, Veterinary Medical Science, Tufts Wildlife Clinic, Tufts, California Department of Pesticide, California Department of Fish, Gov, pumas, Center for Biological Diversity Locations: Manhattan, New York, Chicago, Boston, Massachusetts, California, California Department of Fish and

☆ I was a commando who trained with Navy SEALs. Dealing with risky situations helped me navigate the corporate jungle.
▼ + stars: | 2024-03-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

It's now been 10 fulfilling years that I have spent in the private sector. But if I were to liken corporate life to my military experience, I would compare working in the private sector to parachuting. Some mourn the loss of camaraderie and the sense of purpose when one leaves the army for the private sector. And in the military, things are straightforward. AdvertisementSo, it's true that the private sector is inherently transactional, albeit in a different way.

Persons: Kwong Weng Yap, —, Yap, Singapore's, Lim Chuan Poh, It's, I've, you'll, Kwong Weng Organizations: Singapore Armed Forces, Service, National Cadet Corps, NCC, SAF, Navy, Defence Force, Enterprise Singapore Locations: Singapore, Australia, Yap, Myanmar, Vietnam, Southeast Asia, Ukraine, China

☆ Alibaba shares sink after it shelves IPO plans for two units
▼ + stars: | 2024-02-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Shares in Alibaba sank as much as 7% in Hong Kong on Thursday, after the Chinese tech giant reported disappointing sales figures and announced it would suspend listings plans for two of its units. The news comes at a tough time for the tech giant. In December, the company reshuffled its top ranks after the stellar performance of a competitor caused a stir at Alibaba. The company’s announcement of a $25 billion share repurchase program, which it said demonstrated its confidence in its business and cash flow outlook, also failed to ignite interest among investors. Alibaba shares in New York closed 5.9% lower on Wednesday.

Persons: Joseph Tsai, ”, Alibaba, Jack Ma, PDD, Alicia Yap, Ma, —, Laura Organizations: Hong Kong CNN —, Cainiao, Reuters, Refinitiv, ” Citi Locations: China, Hong Kong, Alibaba, New York

☆ Google says Singapore has 'very high' potential to be a global AI hub
▼ + stars: | 2024-02-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

American multinational technology company Google logo seen at Googleplex, the corporate headquarters complex of Google and its parent company Alphabet Inc.SINGAPORE — Singapore has "very high" potential as a global AI hub — thanks in part to an environment that fosters innovation, a Google Cloud executive told CNBC. "In order for AI to really deliver on its potential, you need really good public and private partnerships," Caroline Yap, managing director, global AI business and applied engineering at Google Cloud, told CNBC. Yap was speaking on the sidelines of Explore AI summit in January, a meeting hosted by Google Cloud and the Singapore government to recognize the top generative AI solutions from organizations that took part in the "AI Trailblazers" initiative. That enables to build and test their own generative AI solutions in a controlled and dedicated cloud-based environment. Through the joint partnership, 43 organizations across government and industry sectors successfully built their own generative AI solutions utilizing Google's AI stack.

Persons: Caroline Yap, Yap Organizations: Google, Alphabet Inc, SINGAPORE —, CNBC, Singapore's Ministry of Communications, Digital Industry, Smart Nation and Digital Government Office Locations: Googleplex, SINGAPORE, SINGAPORE — Singapore, Singapore, Digital Industry Singapore, Yap

Elsewhere, Bank of America raised its price target on Nvidia, calling for more than 25% upside. 7:07 a.m.: Deutsche Bank deals latest blow to regional bank after earnings disappoint Deutsche Bank joined the post-earnings dogpile on New York Community Bank . Analyst Bernard von-Gizycki downgraded the regional bank to hold from buy and slashed to price target to $7 from $15. Analyst Alicia Yap upgraded the consumer internet stock to buy from neutral and raised her price target by $6 to $50. — Alex Harring 5:45 a.m.: Bank of America hikes Nvidia price target Don't expect Nvidia to lose momentum anytime soon, according to Bank of America.

Persons: Goldman Sachs, Bernard von, Gizycki, — Alex Harring, There's, Alicia Yap, Sea's, Shopee, Alex Harring, what's, Tim Cook, Brandon Nispel, AAPL's, AAPL, Morgan Stanley, Erik Woodring, we're, Tim Long, Piper Sandler, Harsh Kumar, Meta, Ross Sandler, Benjamin Black, Mark Kelley, Bernstein, Mark Shmulik, LSEG, Rufus, Eric Sheridan, Brian Nowak, outsized, Brad Erickson, Vivek Arya, Fred Imbert Organizations: CNBC, Apple, Bank of America, Nvidia, Deutsche Bank, New York Community Bank, von, Investors, Traders, Citi, Nasdaq, Conference, Barclays, Vision, Meta, Wall Street, Amazon, RBC Capital, Enterprise, SAP, VMWare, Dell Locations: Wall, New, Thursday's, Friday's premarket, China, genAI, CY25

☆ No. 22 James Madison chases Cancun crown vs. Fresno St.
▼ + stars: | 2023-11-22 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

22 James Madison keeps rolling along, extending its charmed run of improbable wins. In four of their five wins, James Madison (5-0) has rallied from a second-half deficit. After blowing a 16-point lead, James Madison found itself down 60-55 before employing its familiar formula. In the final five minutes, Noah Friedel and Raekwon Horton made critical 3-pointers as James Madison again showed its late-game poise. "The best thing is, we're having different guys have big moments," James Madison coach Mark Byington said.

Persons: James Madison, Dukes, Terrence Edwards Jr, Noah Friedel, Raekwon Horton, Mark Byington, Xavier Johnson, Bickerstaff, Byington, Isaiah Hill, Donavan Yap, Justin Hutson, Hill, We've, Yap, Hutson, we're Organizations: Fresno State, Riviera, Southern, Dukes, Michigan State, Kent State, New, New Mexico State, Bulldogs, Thomson Locations: Cancun, Mexico, Southern Illinois, New Mexico, Fresno

It also slightly raised its 2023 forecast for growth in global oil demand and stuck to its relatively high 2024 prediction. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. A U.S. crackdown on Russian oil exports could potentially disrupt supply, supporting prices further. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Leon Li, Emily Chow, Edwina Gibbs, Stephen Coates Organizations: REUTERS, Rights, Brent, ING, Organization of, Petroleum, Strategic Petroleum Reserve, U.S . Treasury Department, Kurdistan Regional Government, of Commerce, International Energy, APEC, Markets, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Washington, Moscow, Iraq, Kurdish, Turkey, Shanghai

☆ Singles Day: China’s e-commerce giants try to lure reluctant consumers with ‘truly low’ prices
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Laura He | ) edition.cnn.com time to read: +6 min

The Singles Day festival, also known as “Double 11,” was created by Alibaba in 2009 and has turned into a weeks-long shopping bonanza in China. To lure them, e-commerce platforms are offering rock bottom prices this Singles Day. “While the government is looking for solid consumption growth, consumer spending is hampered by both lower household income growth and weak consumer confidence,” said Louis Kuijs, chief Asia economist at S&P Global Ratings. This is a real downgrade in consumption,” the user said, adding she hadn’t yet spent any money during the current Singles Day. “Some promotions are fake,” said another user under the name “Nyanko.” “Merchants have raised prices before cutting them for Singles Day.

Persons: ”, Alibaba, Alibaba’s, JD.com’s, Pinduoduo’s, ” “, Alicia Yap, Zhejiang province Hu Xiaofei, Louis Kuijs, ” Kuijs, Jacob Cooke, “, ” Cooke, Cooke, John Donahoe, Lululemon Organizations: Hong Kong CNN, Companies, Citi, “, China’s, Technologies, Bain and Company, Pinduoduo, Nike, . Company, Starbucks Locations: China, Hong Kong, Beijing, Jinhua, Zhejiang province, Asia

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. Brent crude futures closed below $84 a barrel for the first time since Hamas Islamists' Oct. 7 attack on Israel. A recovery in oil exports from the Organization of Petroleum Exporting Countries also added to the pressure on oil prices, UBS analyst Giovanni Staunovo said. On the demand side, China's crude oil imports in October showed robust growth but its total exports of goods and services contracted at a quicker pace than expected. "There are concerns in the oil markets about both rising supply and sliding demand," said Mizuho analyst Robert Yawger.

Persons: Nick Oxford, Powell, Craig Erlam, Giovanni Staunovo, Staunovo, Brent, Fiona Cincotta, Neel Kashkari, Jerome Powell, Robert Yawger, It's, Shariq Khan, Trixie Yap, Yuka Obayashi, David Gregorio, Matthew Lewis Organizations: Midland , Texas U.S, REUTERS, bbl, BENGALURU, Brent, U.S, West Texas, Traders, Organization of Petroleum, UBS, U.S . Energy Information Administration, ., Minneapolis Federal, Investors, Thomson Locations: Midland , Texas, Israel, U.S, Bengaluru, Singapore, Tokyo

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsNov 7 (Reuters) - Oil prices slipped by 1% on Tuesday, erasing most of Monday's gains, as mixed economic data from the world's second largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts. Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Expectations of crude run reductions by China-based refiners between November and December may limit oil demand and exacerbate price declines. Looking ahead on the supply side, markets are waiting to see how long Saudi Arabia and Russia are ready to rein in production. Moscow also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.

Persons: Nick Oxford, Leon Li, Kelvin Wong, Trixie Yap, Yuka Obayashi, Jamie Freed, Simon Cameron, Moore Organizations: Midland , Texas U.S, REUTERS, Brent, U.S, West Texas, Markets, ING, Thomson Locations: Midland , Texas, China, Saudi Arabia, Russia, Shanghai, OPEC, Moscow, Singapore, Tokyo

SINGAPORE, Oct 31 (Reuters) - At least three Chinese companies including state giant China National Offshore Oil Company (CNOOC) are evaluating Shell's Singapore assets and considering non-binding bids in coming weeks for the city-state's oldest refinery, according to several sources familiar with the matter. CNOOC, the parent of offshore oil and gas major CNOOC Ltd , operates a joint refining-petrochemical complex with Shell in southern China. However, Sinopec Corp's president said in late August it was not interested in the Shell assets. Two of the sources said Shell had set a preliminary Nov. 5 deadline for proposals, although that could be extended. A Wanhua spokesperson said he was not aware of the company's potential interest in the Shell assets.

Persons: Shell, Goldman Sachs, CNOOC, Sinopec, Rongsheng, Eversun, Salmon Lee, Chen Aizhu, Trixie Yap, Tony Munroe, Florence Tan, Kim Coghill Organizations: Offshore Oil Company, Singapore, Reuters, Eversun Holdings, Wanhua, Shell, Hengli Petrochemical, China National Petroleum Corp, Privately, Thomson Locations: SINGAPORE, China, state's, Singapore, Bukom, Jurong, PetroChina, Huizhou, Guangdong, Fujian province, Putian, Shandong province, Asia, Southeast Asia

December Brent crude futures , set to expire on Tuesday, rose 36 cents, or 0.41%, to stand at $87.81 a barrel by 0305 GMT. "If this evolves into a full-scale invasion and there is involvement from Iran, tighter supply worries could resurface." In a note, ING analysts said, "Disruptions to Iranian oil flows remain the most obvious risk to the market." Such lost supply could range between 500,000 barrels per day (bpd) and 1 million bpd if the United States strictly enforces sanctions once again, they added, although Middle East developments had yet to affect oil supply. Weaker-than-expected manufacturing and non-manufacturing activity data from China stoked fears of slowing fuel demand from the world's No.

Persons: Eric Gaillard, Brent, Leon Li, China stoked, CME's, Laura Sanicola, Trixie Yap, Clarence Fernandez Organizations: REUTERS, . West Texas, Federal Reserve, Markets, ING, U.S, Thomson Locations: Nice, France, China, Wednesday's U.S, Gaza, Iran, Shanghai, Israel, United States, Venezuela, riven

☆ Look for opportunities, says YCH Group's chairman
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLook for opportunities, says YCH Group's chairmanCNBC's Christine Tan speaks with Jack Cheng, CEO of MIH Consortium, a Foxconn initiative, and Robert Yap, chairman of YCH Group, about the geopolitical risks and opportunities that are there for their businesses.

Persons: YCH, CNBC's Christine Tan, Jack Cheng, Robert Yap Organizations: MIH Consortium, YCH

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. Prices pared gains after U.S. government data showed U.S. crude inventories (USOILC=ECI) rose by 10.2 million barrels in the last week to 424.2 million barrels, much higher than analyst expectations for a 500,000-barrel rise. U.S. crude output also hit a record 13.2 million barrels per day in the week, the data showed. Meanwhile, the IEA lowered its oil demand growth forecast for 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. However, it raised its 2023 demand forecast to 2.3 million bpd from a forecast of 2.2 million.

Persons: Nick Oxford, Bob Yawger, Yawger, Giovanni Staunovo, Prince Abdulaziz, Novak, Prince Abdulaziz bin Salman, Alexander Novak, Stephanie Kelly, Ahmad Ghaddar, Trixie Yap, David Gregorio, Kirsten Donovan Organizations: REUTERS, Brent, . West Texas, U.S, Mizuho, EIA, European Central Bank, UBS, Saudi Energy, IEA, Organization of, Petroleum, Thomson Locations: Cushing , Oklahoma, Lower U.S, Saudi, Israel, Russia, New York, London, Singapore

☆ Oil falls further on US stock build, easing supply concerns
▼ + stars: | 2023-10-12 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

REUTERS/Nick Oxford//File Photo Acquire Licensing RightsSINGAPORE, Oct 12 (Reuters) - Oil prices fell for a third day on Wednesday, dragged down by a larger-than-expected crude and gasoline stockbuild in the U.S. and easing supply concerns. U.S. crude oil stockpiles swelled by about 12.9 million barrels, according to market sources citing American Petroleum Institute figures on Wednesday. "Crude oil extended losses on signs the impact of the Israel-Hamas war on the oil market will be limited," ANZ analysts said in a client note. Expectations by the U.S. EIA of global oil inventories falling further in the second half of 2023, however, limited price weakness. The lower inventories, which are forecast to keep global oil supply below consumption, are likely to boost oil prices, the EIA said in a monthly report.

Persons: Nick Oxford, Brent, JP Morgan, Trixie Yap, Shri Navaratnam Organizations: REUTERS, Rights, U.S, West Texas, American Petroleum Institute, ING, U.S . Energy Information Administration, ANZ, EIA, Thomson Locations: Cushing , Oklahoma, Rights SINGAPORE, U.S, ., California, Israel

The government said the lifting of restrictions applies to companies that supply at least 50% of the produced diesel fuel to the domestic market. Restrictions on railway diesel exports remain in place, with the exception on exports to some ex-Soviet states. A resumption of Russian diesel exports will have the biggest impact on Turkey and Brazil, Russia's two biggest buyers this year. Traders expect the lifting of the diesel ban could mean Asian diesel cargoes which would have replaced Russian exports in Africa and Turkey will now stay in the region, adding to already ample supplies. The diesel ban will have the biggest impact because Russia is the world's top seaborne exporter of the fuel, just ahead of the United States.

Persons: Transneft, Serena Huang, Maxim, Alexander Novak, Vortexa, William Maclean Organizations: TASS, Traders, REUTERS, Kommersant, Kremlin, FGE Energy, Thomson Locations: MOSCOW, LONDON, SINGAPORE, Russia, Soviet, Baltic, Turkey, Brazil, Africa, Konstantinovo, Moscow, United States

TASS news agency cited Energy Minister Nikolai Shulginov as saying the government "at all levels" had been discussing partial permission for fuel exports. Europe could also fill some of the gap left by the Russia gasoline ban. Northwest European suppliers, which lost market share in West Africa to Russian supplies this year, could step in, FGE said. Since banning Russian fuel imports, Europe has been seeking suppliers elsewhere, including from the Middle East. As a result, traders said they expected Northeast Asian refiners in China and South Korea to boost diesel exports to Europe.

Persons: Tatiana Meel, Alexander Novak, Vortexa, Nikolai Shulginov, JP Morgan, FGE, Edmund Blair, Mark Potter Organizations: REUTERS, Traders, Kremlin, Kommersant, TASS, Analysts, FGE Energy, WHO, BE, European Union, Gulf, Diesel, Northwest, Competition, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, LONDON, SINGAPORE, Soviet, United States, Ukraine, Europe, Brazil, Turkey, North, West, East, Gulf, gasoil, India, Africa, Kpler, U.S, Gulf Coast, America, West Africa, China, South Korea

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