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"The public in West African countries has become increasingly wary of hosting a Western military presence," said Mucahid Durmaz, a senior analyst at London-based risk firm Verisk Maplecroft. "The French exit from Niger will push Western troops further away from the central Sahel." The U.S. has refused to call the Niger takeover a coup, meaning it can avoid severing ties for now. Unlike France, American forces do not actively engage with Niger forces against Islamist militants and could be open to working within a transition to civilian rule. Tens of thousands of people gathered outside the French military base in the capital calling for the troops' departure.

Persons: Mahamadou, Mucahid Durmaz, Verisk, Emmanuel Macron, Russia's, Washington's, Defence Lloyd Austin, Washington, Nathaniel Powell, Joe Biden, Macron, Aissami Tchiroma, It's, Oxford Analytica, Paris, Jalel Harchaoui, John Irish, Edward McAllister, Abdel, Kader Mazou, Andrew Gray, George Obulutsa, Andrew Heavens Organizations: French Army, REUTERS, London, Russia's Wagner, Defence, Oxford, Protesters, France, Military, Royal United Services Institute, Thomson Locations: France, Nigerien, Niamey, Niger, Mali, Burkina Faso, Niger PARIS, DAKAR, West Africa, West, Russia, United States, Libya, The U.S, Nairobi, American, West African, Afghanistan, AFRICA, French, Africa, It's, CHAD, GUINEA France, Chad, Paris, Sahel, Europe, Ukraine, Italy, Germany, Ghana, Ivory Coast, Senegal, Gabon, London, Brussels

“We hit an obstacle with Google's contracts,'' Weinberg said in U.S. District Court in Washington. Google counters that it dominates the internet search market because its product is better than the competition. After a couple years, the company began positioning itself as a search engine that respects people’s privacy by promising not to track what users search for or where they have been. That's loose change for Google's parent company, Alphabet, which generated $283 billion in revenue last year. In court Thursday, Lehman said his best guess is that search engines will shift largely from relying on user data to relying on machine learning.

Persons: Gabriel Weinberg, Weinberg, DuckDuckGo, Edward Snowden, Eric Lehman, Department’s, Lehman, Baidu, Russia’s, Google’s, ’ ’, Judge Amit Mehta, Taylor Swift, Travis Kelce Organizations: WASHINGTON, Google, The U.S . Department of Justice, Apple, Verizon, MIT, Cambridge, Microsoft, NFL Locations: U.S, Washington, The, Pennsylvania

LONDON, Sept 19 (Reuters) - Saudi Arabia’s oil minister denied the kingdom’s recent production cuts have been intended to boost prices, in remarks at the World Petroleum Congress in Calgary on Sept. 18. jacking up prices, it’s about making the decisions that are right when we have the data,” he said (“Saudi Arabia’s energy minister says oil cuts not about jacking up prices”, Financial Times, Sept. 18). Relative contributions from production cuts and faster economic growth are impossible to establish with any certainty. Even after the rise in crude prices, however, they remain moderate compared with periods of high prices in 2007-2008 and 2011-2014 once inflation is taken into account. Related columns:- Oil prices surge as stocks drain away from Cushing (Sept. 15, 2023)- Depleting U.S. crude stocks draw in hedge funds (Sept. 11, 2023)- Depleting U.S. crude inventories lift oil prices (Aug. 31, 2023)John Kemp is a Reuters market analyst.

Persons: “ It’s, ”, Prince Abdulaziz bin Salman, It’s, ‘, Brent, John Kemp, Jan Harvey Organizations: World Petroleum Congress, Financial, . Energy, Reuters, International Energy Agency, Thomson Locations: Saudi, Calgary, China, Europe, North America, Saudi Arabia, Russia, U.S, Cushing

Hedge funds and other money managers purchased the equivalent of 41 million barrels in the six most important petroleum futures and options contracts over the seven days ending on Sept. 12. The net position in all products had fallen to 155 million barrels (71st percentile) on Sept. 12 down from 177 million (80th percentile) on Aug. 15. Short positions in NYMEX WTI slumped to just 21 million barrels on Sept. 12, the lowest for more than a year since June 2022. U.S. NATURAL GASInvestors remain ambivalent about the outlook for U.S. gas prices – torn between depleting inventories and the prospect of a warmer-than-average winter driven by a strong El Niño. The prospect of reduced consumption and slower export growth is weighing on gas prices and has kept them range bound for the last three months.

Persons: Richard Carson, bullishness, NYMEX WTI, Investors, John Kemp, David Evans Organizations: Department of Energy, Strategic Petroleum Reserve, REUTERS, ICE, U.S . diesel, Fund, distillates, Thomson, Reuters Locations: Freeport , Texas, U.S, Saudi Arabia, Europe, China, distillates, Saudi, Cushing, Oklahoma, NYMEX, distillates ., East Asia, North America, Pacific

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. Cushing crude stocks have depleted by 18 million barrels (-42%) since the end of June compared with just 14 million barrels (-3%) elsewhere. In consequence, the net position in WTI climbed to 225 million barrels (42nd percentile for all weeks since 2013) up from a record low of just 46 million barrels. It is possible Cushing inventories are being liquidated to make up for reduced flows from Saudi Arabia and other Middle East exporters. Related columns:- Depleting U.S. crude stocks draw in hedge funds (September 11, 2023)- Hedge funds buy U.S. crude as stocks fall (September 4, 2023)- Depleting U.S. crude inventories lift oil prices (August 31, 2023)John Kemp is a Reuters market analyst.

Persons: Cushing, Long, WTI, John Kemp, Mark Potter Organizations: REUTERS, European Commission, U.S . Commodity Futures Trading Commission, refiners, Thomson, Reuters Locations: Cushing , Oklahoma, U.S, Cushing, Oklahoma, United States, Gulf, Europe, Saudi Arabia, North America, Asia

Finland is a European Union member that supports sanctions on Russia and the most recent to join NATO. Both Turkey and the UAE have condemned Russia’s invasion of Ukraine but have not joined Western sanctions and sought to maintain ties with Russia. The latest sanctions package targets Russian companies that repair, develop and manufacture weapons, including the Kalibr cruise missile. Turkey, meanwhile, has tried to balance its close ties with both Russia and Ukraine, positioning itself as a mediator. Including the latest sanctions, the U.S. has targeted almost 3,000 businesses and people since Russia invaded Ukraine in February 2022, according to State.

Persons: Vladimir Putin’s, ” James O’Brien, Putin, O’Brien, “, ” O’Brien, ”, Richard Connolly, Alexander, Lukashenko, ” Connolly, Denis Manturov, Connolly, Tom Keatinge, Andrei Bokarev, Sergei Shoigu, Iskander Makhmudov, Alexei Krivoruchko, Wagner, Otar, Partskhaladze, Antony Blinken, Suzan Fraser, Jon Gambrell, Antony Blinken’s Organizations: United Arab, State, Treasury, NATO, State Department’s Office, Associated Press, State Department, European Union, The State Department, Russia’s Ministry of Defense, Oxford, Western, Russian Industry, Trade, Centre for Financial, Security, Royal United Services Institute, “, U.S, Russian Defense, Russian, Federal Security Service Locations: States, Russia, Turkey, United Arab Emirates, Georgia, Ukraine, U.S, UAE, Russia’s, Moscow, Finland, European, Belarus, Russian, ”, London, North Korea, Georgian, State, Ankara, Dubai

A diesel fuel nozzle is seen attached to a car at a Shell petrol station in Berlin, Germany October 22, 2018. REUTERS/Fabrizio Bensch/ Acquire Licensing RightsLONDON, Sept 13 (Reuters) - Global distillate fuel oil inventories remain much lower than normal for the time of year which is putting strong upward pressure on fuel prices. Initially, the upward pressure on distillate refining margins was masked by downward pressure on the underlying prices for crude oil. Since July, however, both crude prices and distillate refining margins have been rising, causing the total price of fuel to surge. Related columns:- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)- Depleted U.S. diesel stocks attract hedge funds (July 20, 2023)- Global distillate stocks low despite industrial slowdown (June 13, 2023)John Kemp is a Reuters market analyst.

Persons: Fabrizio Bensch, John Kemp, Alexander Smith Organizations: Shell, REUTERS, OPEC ⁺, U.S, Thomson, Reuters Locations: Berlin, Germany, Singapore, New York, Saudi Arabia, Europe, North America, Russia, Ukraine, U.S, China

Germany, Italy and the Netherlands all reported sharp reductions in gas consumption in June and July compared with the pre-invasion average. Most energy-intensive industrial users require uninterrupted supplies, buy gas on contracts linked to longer-term averages, and hedge their costs forward to lock in profit margins. Prices for gas to be delivered throughout 2024 are still double the inflation-adjusted average for the five years between 2017 and 2021. But the region has paid a high price in terms of reduced manufacturing activity, which could lead to permanent deindustrialisation unless gas prices are reduced significantly within the next couple of years. Related columns:- Europe’s gas storage must peak early this autumn (September 8, 2023)- High prices keep lid on Europe's industrial gas use (July 11, 2023)- Europe’s gas storage space is filling too fast (July 6, 2023)John Kemp is a Reuters market analyst.

Persons: Fabian Bimmer, TJ, John Kemp, David Evans Organizations: REUTERS, Eurostat, TJ, Energy, Thomson, Reuters Locations: Netherlands, Germany, Embsen, Ukraine, Italy, Europe, Australia

Hedge funds and other money managers purchased the equivalent of 98 million barrels of futures and options based on crude over the seven days ending on Sept. 5. Short positions in NYMEX WTI had been reduced to just 30 million barrels on Sept. 5 from 136 million barrels on June 27. In the last 10 shorting cycles, shorts have fallen to an average of 24 million barrels. Following their repeated extension, the cuts are set to remove a total of 245 million barrels by the end of December if implemented in full. Related columns:- Hedge funds buy U.S. crude as stocks fall (September 4, 2023)- Depleting U.S. crude inventories lift oil prices (August 31, 2023)- Prospect of strong El Niño weighs on U.S. gas prices (August 30, 2023)John Kemp is a Reuters market analyst.

Persons: Bing Guan, Brent, NYMEX WTI, Cushing, bullishness, John Kemp, Susan Fenton Organizations: Angeles Refinery, California Air Resources Board, OPEC ⁺, ICE, bearishness, Henry, Thomson, Reuters Locations: Angeles, California, Carson , California, U.S, Saudi Arabia, Brent, WTI, NYMEX, Chartbook, Russia, Saudi, Cushing, Oklahoma

A pressure gauge and valves are seen at Storengy's natural gas storage site in Saint-Illiers-la-Ville, western France, September 20, 2022. Inventories across the European Union and the United Kingdom had climbed to 1,071 terawatt hours (TWh) by Sep. 6, according to Gas Infrastructure Europe (“Aggregated gas storage inventory”, GIE, Sep. 8). The risk of storage space running out has been reduced correspondingly. Nonetheless, it will be critically important for the refill season to end earlier than usual to ensure storage space does not run out. Related columns:- Europe's record gas inventories cap prices (Aug. 8, 2023)- Europe’s gas storage is filling too fast (July 6, 2023)- Europe’s gas prices stabilise as storage additions slow (June 8, 2023)- Europe only has space for a small gas refill in 2023 (April 14, 2023)John Kemp is a Reuters market analyst.

Persons: Christian Hartmann, John Kemp, Marguerita Choy Organizations: REUTERS, European Union, Gas Infrastructure, Thomson, Reuters Locations: Saint, Ville, France, United Kingdom, GIE, Europe, Russia, Ukraine, Australia

Chartbook: Global container freightIn the United States, the volume of container trade handled through the nine largest ports in July was the lowest for the time of year since 2017. The volume of container freight hauled on the major railroads in June was the lowest for the time of year since 2012. Container trade through the port of Singapore, a major transshipment point for the region, has climbed to record levels. Rising share prices would be consistent with an improving outlook for global trade, but the evidence for it so far is limited. Related columns:- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Mike Segar, pare, Korea’s, John Kemp Organizations: REUTERS, Manufacturers, Economic, Heathrow, China’s, Global, Thomson, Reuters Locations: Port Elizabeth , New Jersey, U.S, North America, Europe, Netherlands, United States, Japan, Narita, United Kingdom, Asia, Singapore, doldrums

Chartbook: U.S. manufacturing and energy useIndustrial electricity use and distillate fuel oil consumption are both correlated with the manufacturing and freight cycle and therefore with the purchasing managers index. Distillate fuel oil consumption fell by 1.0% in the three months from April through June compared with the same period a year earlier. The strength of domestic distillate consumption helps explain why fuel oil inventories have remained well below the prior ten-year seasonal average. Resilient electricity and diesel consumption, and the correspondingly low levels of spare generating capacity and distillate inventories, imply the energy system is operating close to its maximum capacity. Related columns:- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)- U.S. manufacturing slowdown fails to rebuild diesel stocks (August 2, 2023)- Depleted U.S. diesel stocks attract hedge funds (July 20, 2023)- U.S. manufacturing slowdown cools energy prices (July 4, 2023)John Kemp is a Reuters market analyst.

Persons: Andrew Kelly, John Kemp Organizations: REUTERS, Institute, Supply, U.S . Energy Information Administration, EIA, U.S, Thomson, Reuters Locations: IceStone, New York City , New York, U.S

Hedge funds and other money managers purchased the equivalent of 19 million barrels in the NYMEX and ICE U.S. crude (WTI) futures and options contracts over the seven days ending on August 29. Bearish short positions in the premier NYMEX WTI contract had been reduced to just 49 million barrels, down from 136 million. Total commercial crude inventories had fallen into line with the prior ten-year average on August 25 while stocks at Cushing had depleted to almost 30% below the average. Hedge fund managers have been trying to get bullish towards U.S. gas prices, and the inventory surplus inherited from 2022 has been shrinking. Related columns:- Depleting U.S. crude inventories lift oil prices (August 31, 2023)- Prospect of strong El Niño weighs on U.S. gas prices (August 30, 2023)- Crude oil prices stalled as hedge funds sold (August 29, 2023)John Kemp is a Reuters market analyst.

Persons: Richard Carson, John Kemp, Mike Harrison Organizations: Department of Energy, Strategic Petroleum Reserve, REUTERS, ICE, Cushing, U.S . diesel, U.S . Commodity Futures Trading Commission, Thomson, Reuters Locations: Freeport , Texas, U.S, Cushing, Oklahoma, Brent, Washington, Illinois, Maine

☆ Meta's WhatsApp is chasing big businesses in effort to finally capitalize on app's popularity
▼ + stars: | 2023-09-01 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +14 min

Newton-Rex joined WhatsApp four years ago, leaving her high-level position at London-based financial firm WorldRemit for the new gig. Newton-Rex said Zuckerberg has been "a big part of the team," adding that he regularly speaks with Will Cathcart, the current head of WhatsApp. What's up with WhatsApp's business? In June, Meta said the WhatsApp Business app had quadrupled in the past three years to 200 million monthly active users. The Pew Research Center has previously detailed that WhatsApp is the most popular messaging app used by Hispanic Americans.

Persons: Mark Zuckerberg, WhatsApp, it's, It's, sidelining WhatsApp, Rather, Zuckerberg, Jim Cramer, Alice Newton, Rex, Uber, Newton, WorldRemit, Will Cathcart, Nick Lane, Debra Aho Williamson, Williamson, Jan Koum, Brian Acton, Jan Koum David Ramos, Acton, Koum, Meta, Meta's, that's, Mobilesquared's Lane, Lane Organizations: Facebook, Meta, CNBC, Consumers, Netflix, Insider Intelligence, Getty, Reuters It's, Intelligence, Pew Research Center, Twitter, Cambridge, SMS Locations: WhatsApp, India, Brazil, London, Indonesia, Colombia, Singapore, Newton, U.S, Canada, Spain, Italy, Argentina, North

Based on the historical record, after prices peak it takes on average 5 months for drilling to turn down and 12 months for production to decline. Following the drilling peak, Lower 48 output is likely to peak in the third quarter of 2023, as exploration and production firms work their way through the inventory of drilled but uncompleted oil wells. Chartbook: U.S. oil and gas productionOn the gas side, dry production amounted to 3,082 billion cubic feet in June, an increase of 4% compared with the same month a year earlier (“Natural gas monthly”, EIA, Aug. 31). Like oil, though perhaps a few months later, gas production is likely to peak and turn lower before the end of 2023 as low prices and the slowdown in drilling filter through. Related columns:- Oil market to tighten modestly in late 2023 (August 17, 2023)- U.S. oil and gas production begins to flatten (August 4, 2023)- U.S. oil and gas production set to turn down later in 2023 (July 5, 2023)- U.S. oil and gas output still rising in response to high prices last year (June 1, 2023)John Kemp is a Reuters market analyst.

Persons: Baker Hughes, John Kemp, Kirsten Donovan Organizations: U.S . Energy Information Administration, “ Petroleum, Saudi, Thomson, Reuters Locations: Gulf, Mexico, Ukraine, U.S, Saudi Arabia, Russia

Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma. Cushing crude inventories have declined in five of the most recent six weeks by a total of 9 million barrels (-24%) since July 14. The drawdown in U.S. crude inventories has coincided with additional production cuts by Saudi Arabia and Russia totalling around 75 million barrels during July and August. U.S. NET CRUDE IMPORTSU.S. net crude oil imports remain subdued despite the depletion of inventories with exports continuing to run at a relatively fast rate while imports stay low. Related columns:- Oil market to tighten modestly in late 2023 (August 17, 2023)- Crude oil and fuels draw funds as sentiment shifts (August 7, 2023)- U.S. oil and gas production begins to flatten (August 4, 2023)- Saudi output cut removes downside risk from oil market (July 12, 2023)John Kemp is a Reuters market analyst.

Persons: Nick Oxford, CUSHING, Cushing, Biden, John Kemp, David Evans Organizations: Enbridge Inc, REUTERS, U.S . Energy Information Administration, refiners, Traders, NET, U.S . Department of Energy, Strategic Petroleum Reserve, Thomson, Reuters Locations: Cushing , Oklahoma, Chartbook, Cushing, Oklahoma, U.S, Saudi Arabia, Russia, United States, Asia, Europe, Asia . U.S, Ukraine, Saudi

But a strong El Niño tends to produce a significant and observable impact on weather patterns, lowering gas consumption and prices. On four of those six occasions, strong El Niño conditions prevailed the following winter (1957/58, 1987/88, 1997/98 and 2015/16). But a strong El Niño would make warmer-than-average temperatures more likely depressing energy consumption and prices. The rapid development of a strong El Niño helps explain why U.S. gas prices remain low in real terms despite the recent depletion of working gas inventories. Traders have started to anticipate a strong El Niño will reduce gas consumption for heating and power generation this winter.

Persons: Nick Oxford, Niño, El, John Kemp, David Evans Organizations: Oasis Petroleum, Wink , Texas U.S, REUTERS, El Nino, El, Traders, Thomson, Reuters Locations: Wink , Texas, United States, U.S, Washington, Illinois, Maine, Niño's, El

LONDON, Aug 29 (Reuters) - Crude oil prices have stalled as the wave of hedge fund buying that helped lift them throughout July and the first part of August has been replaced by gentle selling. Hedge funds and other money managers sold the equivalent of 30 million barrels in the six most important petroleum futures and options contracts over the seven days ending on Aug. 22. Nearly all the sales were in crude (-29 million barrels) with sales of NYMEX and ICE WTI (-16 million barrels) and Brent (-13 million barrels), according to position records filed with regulators and exchanges. There was a mix of profit-taking after the previous rally by liquidating existing bullish long positions (-18 million barrels) and speculative short sales (+11 million barrels) in anticipation of future price falls. There are also increasing indications the United States is relaxing sanctions on crude exports from Iran and Venezuela in exchange for diplomatic objectives and to keep a lid on oil prices.

Persons: Brent, John Kemp, Barbara Lewis Organizations: ICE, Henry, U.S . National Oceanic, Prediction Center, CPC, U.S, Thomson, Reuters Locations: Saudi Arabia, Russia, COVID, States, Iran, Venezuela, NYMEX, United States, Pacific, North America

☆ Meta says it has disrupted a massive disinformation campaign linked to Chinese law enforcement
▼ + stars: | 2023-08-29 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Facebook and Instagram parent company Meta on Tuesday said it had disrupted a disinformation campaign linked to Chinese law enforcement that the social media company described as the "largest known cross-platform covert influence operation in the world." Meta began looking for signs of a Chinese influence operation on its own platforms after reports in 2022 highlighted how a disinformation campaign linked to the Chinese government targeted a human rights nongovernmental organization. Meta researchers were able to link this latest disinformation network to a prior influence campaign in 2019, code named Spamouflage. Meta also identified and disrupted other operations and published a more detailed analysis of a Russian disinformation campaign it identified shortly after the beginning of the 2022 war in Ukraine. But this disinformation network, while prolific, was not effective, Meta cybersecurity executives said on a briefing call.

Persons: Meta, Ben Nimmo, CNBC's Eamon Javers Organizations: Meta, Facebook Locations: China, Xinjiang, Ukraine, Cambridge, Bangladesh, Brazil, Vietnam

Total demand met hit a record 140 billion kilowatt-hours (kWh) in June, up from 134 billion kWh in June 2022. Chartbook: India's electricity systemGrid controllers have been able to call on much more generation from renewable sources and improved availability of fossil-fuel units. Generation from wind farms increased by 1.5 billion kWh (+16%) while solar output was up by 1.1 billion kWh (+14%) compared with the same month in 2022. Other generation, mostly from coal-fired units, also increased by 3.3 billion kWh (+3%) owing to improved fuel availability. Related columns:- India to extend time-of-use electricity tariffs (June 27, 2023)- India’s electricity supply improves in cooler pre-monsoon (May 26, 2023)- India’s grid strained by burgeoning power demand (March 29, 2023)- India’s low coal stocks threaten electricity supply (January 27, 2023)John Kemp is a Reuters market analyst.

Persons: India's, Sunil Kataria, John Kemp, Susan Fenton Organizations: REUTERS, Grid Controller, Thomson, Reuters Locations: Modhera, Gujarat, India

Petroleum consumption increased to 135 million metric tons in the first seven months of 2023 from 128 million metric tons in the same period in 2022. The increase in the first seven months was equivalent to roughly 255,000 barrels per day (bpd), down from growth of 415,000 bpd in 2021/22. Chartbook: India's petroleum consumptionOil consumption growth of roughly 5% to 6% per year is consistent with the same reported growth in manufacturing output. But it compares with growth of more than 1.0 million bpd in U.S. oil production in the first five months of 2023. The relatively sluggish growth in India’s consumption has therefore added to downward pressure on crude petroleum prices so far in 2023.

Persons: Amit Dave, John Kemp, Jonathan Oatis Organizations: Natural Gas Corp, REUTERS, Petroleum, Thomson, Reuters Locations: Ahmedabad, India, South, East Asia, North America, Europe, China

China generated 121 billion kilowatt-hours (kWh) from hydro in July 2023, down from 146 billion kWh in the same month a year earlier, and the lowest since 2015. China also boosted generation from wind farms (+16 billion kWh) and solar farms (+5 billion kWh) compared with July 2022. But without the extra generation from thermal (+44 billion kWh) it could not have offset the drop in hydro (-25 billion kWh) while meeting growth in load (+40 billion kWh). SOUTH CHINA DROUGHTFour-fifths of China’s total hydro generation comes from provinces along the Yangtze River system and further south. Facing continued restrictions on hydro generation, coal-fired generation, coal production and coal imports will have to rise even further.

Persons: Doksuri, John Kemp, Bernadette Baum Organizations: REUTERS, National Bureau of Statistics, East, Thomson, Reuters Locations: Qiaojia, Yunnan province, Ningnan, Sichuan province, China, Hebei, Beijing, Chartbook, CHINA, Sichuan, Yunnan, Hubei, Guizhou, Guangxi, Hunan, Fujian, Guangdong, Chongqing, Yibin

Position-taking was also likely hit by the traditional seasonal torpor that descends in the middle of August with many senior trading and investment staff across North America and Europe on holiday. Purchases of Brent (+20 million barrels), U.S. gasoline (+6 million) and European gas oil (+4 million) were offset by sales of NYMEX and ICE WTI (-29 million) and U.S. diesel (-1 million). Funds held a net long position of 707 billion cubic feet (47th percentile for all weeks since 2010) up from a net short position of 1,061 billion cubic feet (7th percentile) at the end of January. Working gas inventories in underground storage were +188 billion cubic feet (+7% or +0.58 standard deviations) above the prior 10-year seasonal average on Aug. 11. The surplus has narrowed consistently from +299 billion cubic feet (+12% or +0.81 standard deviations) at the end of June.

Persons: John Kemp, David Evans Organizations: North, ICE, U.S . diesel, U.S, Thomson, Reuters Locations: North America, Europe, Brent, U.S

REUTERS/Ernest Scheyder Acquire Licensing RightsLONDON, Aug 17 (Reuters) - Production cuts announced by Saudi Arabia and its OPEC⁺ allies are expected to tighten the global petroleum market moderately over the remainder of 2023 and into the first quarter of 2024. Since then, additional production cuts announced by Saudi Arabia will remove an extra 90 million barrels from the market between July and September. Russia has also announced extra cuts amounting to 25 million barrels in August and September, assuming they are implemented in full. Related columns:- U.S. oil and gas production begins to flatten (August 4, 2023)- Saudi output cut removes downside risk from oil market (July 12, 2023)- Is oil market’s glass half-full or half-empty? (June 29, 2023)- Frustrated oil bulls made to wait for price recovery (June 22, 2023)John Kemp is a Reuters market analyst.

Persons: Ernest Scheyder, Brent, John Kemp, Paul Simao Organizations: REUTERS, OPEC ⁺, OECD, U.S . Energy Information Administration, of, Petroleum, OPEC, Thomson, Reuters Locations: Midland , Texas, U.S, Saudi Arabia, Russia, European, China, Saudi, United States, Europe, Asia

New York CNN —Anyone in the United States who had a Facebook account in the past 16 years has roughly one week left to file for payment in a data privacy settlement case. That includes roughly 70 million US-based users’ private Facebook data that was accessed by the political consulting firm Cambridge Analytica, which had been working for the Trump presidential campaign in 2016. That hearing is scheduled for September 7 at 1 pm PT, according to the Facebook user privacy settlement website. Facebook users were allowed to “opt out” of being in the settlement class and preserve their right to sue. By joining the “settlement class,” and claiming a payment, you will no longer be able to sue Facebook or join others’ lawsuits against Facebook for matters covered by the settlement.

Persons: everyone’s, — Organizations: New, New York CNN, Meta, Facebook, Cambridge Analytica, Trump Locations: New York, United States

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