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Oil prices ease as aid convoys arrive in embattled Gaza Strip
  + stars: | 2023-10-23 | by ( ) www.cnbc.com   time to read: +2 min
A crane ship helps other vessels searching for oil and natural gas near the oil platform offshore the Red Sea in Ras Behar region, Egypt on January 29, 2023. Oil prices eased on Monday as aid convoys started to arrive in the Gaza Strip over the weekend amid diplomatic efforts to contain a conflict between Israel and the Palestinian Islamist group Hamas from spreading to the wider oil-rich region. "Israel agreed to hold off its attack on Hamas following pressure from the U.S.," ANZ Research said in a client note. Aid convoys started to arrive to the Gaza Strip from Egypt over the weekend, as Arab leaders and foreign ministers gathered for a summit in Cairo which was unable to yield a joint statement. In latest developments, Israel has bombarded Gaza with air strikes and its aircraft have struck Lebanon.
Persons: Israel, Joe Biden, Benjamin Netanyahu, Pope Francis . Organizations: Brent, . West Texas, ANZ Research, Organization of, Petroleum, Russia —, Aid, Sunday, Israeli, of France Locations: Ras Behar, Egypt, Gaza, Israel, Palestinian, U.S, Russia, Venezuela, Venezuelan, Cairo, Canada, France, Britain, Germany, Italy, Netherlands, Lebanon
The bombs hit buildings in Rafah, Khan Younis, central Gaza and Gaza City, including homes, the Palestinian Interior Ministry in Gaza said. Alexi J. Rosenfeld/Getty Images Europe/Getty Images Palestinians inspect a destroyed area following an Israeli airstrike in Gaza on October 21. Ronen Zvulun/Reuters A woman mourns over a dead man at the Al-Aqsa Martyrs Hospital in Gaza City on October 18. Yousef Masoud/The New York Times A morgue worker arranges body bags at al-Shifa hospital in Gaza City on October 12. Ibraheem Abu Mustafa/Reuters Palestinian citizens inspect damage to their homes caused by Israeli airstrikes in Gaza City on October 8.
Persons: Jerusalem CNN —, Atef Al Kahlout, Ashraf Al Qidra, Khan Younis, Jack Guez, Iyad Issa Abu Zaher, , , Fu’ad, Majdi, Juliette Touma, Herzi Halevi, Daniel Hagari, Joe Biden, Benjamin Netanyahu, Netanyahu, Biden “, Biden, Said Khatub, Leon Neal, Hatem Moussa, Nir Oz, Wolfgang Schwan, Yousef Masoud, Alexi J . Rosenfeld, Shadi Tabatibi, Ali Jadallah, Belal al Sabbagh, Mohammed Saber, Khan, Rizek Abdeljawad, Ahmad Gharabli, Janis Laizans, Abed Khaled, Mohammed Dahman, Yoav Gallant, Gallant, Yasser Qudih, Ofir Libstein, Aza, Ronen Zvulun, Belal Khaled, Abed Rahim Khatib, Hod, Ayal Margolin, Antony Blinken, Brendan Smialowski, Kenny Holston, Ariel Schalit, Mohammed Abed, Kfar Aza, Ilia Yefimovich, Mustafa Hassona, Mahmoud Khaled, Samar Abu, Fatima Shbair, Dor Reder, Violeta Santos Moura, Shir Torem, Wahaj Bani Moufleh, Antonio Macías, Macías, Francisco Seco, Eli Albag, Liri, Mohammed Talatene, Sergey Ponomarev, Hatem Ali, Dor Kedmi, Mahmud Hams, Saher, Abraham Cohen, Valentin Ghnassia, Ghnassia, Yuri Cortez, Ibrahim Hams, Bashar Taleb, Baz Ratner, Yahya Hassouna, Mapal Adam, Abed Zagout, Tamir Kalifa, Agha, Ibraheem Abu Mustafa, Reuters Itzik, Miriam Shafir, Dor Shafir, Savion Kiper, Maya Alleruzzo, Mohammed Salem, CNN Sergey Ponomarev, Eden Guez, Atef Safadi, Ohad, Mohammed Soboh, Said, Noam Elimeleh Rothenberg, Amir Cohen, Ilai Bar Sade, Erik Marmor, Oren Ziv, Ramez Mahmoud, Roi Levy, Alleruzzo, Tali Touito, Jalaa Marey, Oded, Ahmad Hasballah, Mohammed Fayq Abu Mostafa, Tsafrir, Ilan Rosenberg, Eyad Baba, Itai Ron, Hadas Parush, Israel readies Organizations: Jerusalem CNN, Hamas, West Bank, CNN, Israel Defense Forces, Indonesian, of Health, Palestinian Interior Ministry, IDF, Getty, Al Aqsa Martyrs, Al, Health Ministry, Aqsa Martyrs Hospital, United Nations Relief, Works Agency, Palestine Red Crescent Society, World Health Organization, Palestinian, Sunday, US, Pictures, Tel Aviv University, AP, New York Times, Reuters, Reuters Civil, AP Rockets, AP Israel's, Regional, Israel's, Ahli Baptist Hospital, Israeli, Ben Gurion International, Shifa, Aris Messinis, Haim, Mount, Mount Herzl Military, Nova, Anadolu Agency, Nova Festival, Ben Gurion, Rockets, United Nations, Reuters Police, Reuters Rockets Locations: Gaza, Jerusalem, Israel, Lebanon, Rafah, Gaza City, Israel's, Sderot, AFP, Al Aqsa, Al, Aqsa, Deir al, Egypt, Palestine, Crescent, Kibbutz Kissufim, Gazan, Khan, United States, Tel Aviv, Anadolu, Khan Younis, Europe, Zahra City, Xinhua, East Jerusalem, Ras, Yehuda, Hod HaSharon, Kiryat Shmona, Ahli, Gan, Kfar, North Sinai, Samar, Samar Abu Elouf, Beit Kama, Haifa, Cyprus, Nablus, West, Kfar Saba, Israeli, Be'eri, Rehovot, Mount Herzl, Kibbutz Be'eri, Modiin Maccabim, Kfar Aza, Ashkelon, Mount Herzel, Yassin, Palestinian, Beitar Ilit, Ramat Gan, Itai, Beit Hanun, Rishon Lezion, Iran, Jenin
Shadi Tabatibi/Reuters Relatives mourn for a family killed in an Israeli airstrike in Gaza City on October 21. Alexi J. Rosenfeld/Getty Images Europe/Getty Images Palestinians inspect a destroyed area following an Israeli airstrike in Gaza on October 21. Ronen Zvulun/Reuters A woman mourns over a dead man at the Al-Aqsa Martyrs Hospital in Gaza City on October 18. Fatima Shbair/AP People react at the site of an Israeli airstrike in Al-Shati refugee camp in Gaza City on Saturday, October 14. Ramez Mahmoud/AP A plume of smoke rises in the sky over Gaza City during an Israeli airstrike on October 9.
Persons: Joe Biden’s, Zhai Jun, Beijing’s, Zhai, , Sanam Vakil, ” Jonathan Fulton, Said Khatub, Leon Neal, Hatem Moussa, Nir Oz, Wolfgang Schwan, Yousef Masoud, Alexi J . Rosenfeld, Shadi Tabatibi, Ali Jadallah, Belal al Sabbagh, Mohammed Saber, Khan, Rizek Abdeljawad, Ahmad Gharabli, Janis Laizans, Abed Khaled, Mohammed Dahman, Yoav Gallant, Gallant, Yasser Qudih, Ofir Libstein, Aza, Ronen Zvulun, Belal Khaled, Abed Rahim Khatib, Hod, Ayal Margolin, Antony Blinken, Joe Biden, Benjamin Netanyahu, Brendan Smialowski, Biden, Netanyahu, Kenny Holston, Ariel Schalit, Mohammed Abed, Kfar Aza, Ilia Yefimovich, Mustafa Hassona, Mahmoud Khaled, Samar Abu, Fatima Shbair, Dor Reder, Violeta Santos Moura, Shir Torem, Wahaj Bani Moufleh, Antonio Macías, Macías, Francisco Seco, Eli Albag, Liri, Mohammed Talatene, Sergey Ponomarev, Hatem Ali, Dor Kedmi, Mahmud Hams, Saher, Abraham Cohen, Valentin Ghnassia, Ghnassia, Yuri Cortez, Ibrahim Hams, Bashar Taleb, Baz Ratner, Jack Guez, Yahya Hassouna, Mapal Adam, Abed Zagout, Tamir Kalifa, Agha, Ibraheem Abu Mustafa, Reuters Itzik, Miriam Shafir, Dor Shafir, Savion Kiper, Maya Alleruzzo, Mohammed Salem, CNN Sergey Ponomarev, Eden Guez, Atef Safadi, Ohad, Mohammed Soboh, Said, Noam Elimeleh Rothenberg, Amir Cohen, Ilai Bar Sade, Erik Marmor, Oren Ziv, Majdi, Ramez Mahmoud, Roi Levy, Alleruzzo, Tali Touito, Jalaa Marey, Oded, Khan Younis, Ahmad Hasballah, Mohammed Fayq Abu Mostafa, Tsafrir, Ilan Rosenberg, Eyad Baba, Itai Ron, Hadas Parush, Xi Jinping, ” Vladimir Putin, Putin, ” Zhai, Mikhail Bogdanov, Putin’s, Israel –, Israel, , Li Mingjiang, Li, China’s, Mao Zedong, Fulton, Zhao Tong, Vakil, China doesn’t Organizations: Hong Kong CNN, United, Palestine, Chatham House, Atlantic Council, Getty, Pictures, Tel Aviv University, AP, New York Times, Reuters, Reuters Civil, AP Rockets, AP Israel's, Regional, Al, Aqsa Martyrs Hospital, Israel's, Ahli Baptist Hospital, Israel Defense Forces, Israeli, Ben Gurion International, Shifa, Palestinian, West Bank, Aris Messinis, Haim, Mount, Mount Herzl Military, Nova, Anadolu Agency, CNN, Nova Festival, Ben Gurion, Rockets, United Nations, Reuters Police, Reuters Rockets, Biden, US, UN, Singapore’s Nanyang Technological University ., Israel, Carnegie Endowment, International Locations: China, Hong Kong, United States, Israel, Beijing, Palestinian, Qatar, Egypt, Gaza, peacemaking, East, North Africa, Abu Dhabi, Rafah, AFP, Tel Aviv, Deir al, Anadolu, Khan Younis, Europe, Zahra City, Gaza City, Xinhua, East Jerusalem, Ras, Israel's, Yehuda, Aqsa, Hod HaSharon, Kiryat Shmona, Al, Ahli, Sderot, Gan, Kfar, North Sinai, Samar, Samar Abu Elouf, Beit Kama, Haifa, Cyprus, Nablus, West, Lebanon, Kfar Saba, Israeli, Be'eri, Rehovot, Mount Herzl, Jerusalem, Kibbutz Be'eri, Modiin Maccabim, Kfar Aza, Ashkelon, Mount Herzel, Yassin, Beitar Ilit, Ramat Gan, Itai, Beit Hanun, Rishon Lezion, Ukraine, Russia, Chatham, Iran, Africa, Moscow, Washington, Xinjiang, Leningrad, Communist China, United Nations, Palestine, Beijing –, Saudi Arabia, Lebanese, Tehran
An aerial view of residential buildings destroyed in Israeli airstrikes in Zahra City, Gaza, on October 21. Ronen Zvulun/Reuters A woman mourns over a dead man at the Al-Aqsa Martyrs Hospital in Gaza City on October 18. Yousef Masoud/The New York Times A morgue worker arranges body bags at al-Shifa hospital in Gaza City on October 12. Ramez Mahmoud/AP A plume of smoke rises in the sky over Gaza City during an Israeli airstrike on October 9. Ibraheem Abu Mustafa/Reuters Palestinian citizens inspect damage to their homes caused by Israeli airstrikes in Gaza City on October 8.
Persons: CNN —, , Daniel Hagari, , Jonathan Conricus, Ali Jadallah, Shadi Tabatibi, Alexi J . Rosenfeld, Belal al Sabbagh, Mohammed Saber, Khan, Rizek Abdeljawad, Ahmad Gharabli, Janis Laizans, Abed Khaled, Mohammed Dahman, Yoav Gallant, Gallant, Yasser Qudih, Ofir Libstein, Aza, Ronen Zvulun, Belal Khaled, Abed Rahim Khatib, Leon Neal, Hod, Ayal Margolin, Antony Blinken, Joe Biden, Benjamin Netanyahu, Brendan Smialowski, Biden, Netanyahu, Kenny Holston, Ariel Schalit, Mohammed Abed, Kfar Aza, Ilia Yefimovich, Mustafa Hassona, Mahmoud Khaled, Samar Abu, Fatima Shbair, Dor Reder, Violeta Santos Moura, Shir Torem, Wahaj Bani Moufleh, Antonio Macías, Macías, Francisco Seco, Eli Albag, Liri, Mohammed Talatene, Sergey Ponomarev, Hatem Ali, Dor Kedmi, Mahmud Hams, Saher, Hatem Moussa, Abraham Cohen, Valentin Ghnassia, Ghnassia, Yuri Cortez, Yousef Masoud, Ibrahim Hams, Bashar Taleb, Baz Ratner, Jack Guez, Yahya Hassouna, Mapal Adam, Abed Zagout, Tamir Kalifa, Agha, Ibraheem Abu Mustafa, Reuters Itzik, Miriam Shafir, Dor Shafir, Savion Kiper, Maya Alleruzzo, Mohammed Salem, CNN Sergey Ponomarev, Eden Guez, Atef Safadi, Ohad, Mohammed Soboh, Said, Noam Elimeleh Rothenberg, Amir Cohen, Ilai Bar Sade, Erik Marmor, Oren Ziv, Majdi, Ramez Mahmoud, Roi Levy, Alleruzzo, Tali Touito, Jalaa Marey, Oded, Khan Younis, Ahmad Hasballah, Mohammed Fayq Abu Mostafa, Tsafrir, Ilan Rosenberg, Eyad Baba, Itai Ron, Hadas Parush, Herzl Halevi, “ We’ll, We’ll, Halevi, Joe Biden “, Defense Lloyd Austin Organizations: CNN, West Bank, Palestinian, Israel Defense Forces, Sunday, Al, Islamic, Palestinian Ministry of Health, Getty, Reuters, Reuters Civil, AP Rockets, AP Israel's, Regional, Aqsa Martyrs Hospital, Israel's, Ahli Baptist Hospital, Israeli, Ben Gurion International, New York Times, Shifa, AP, Aris Messinis, Haim, Mount, Mount Herzl Military, Nova, Anadolu Agency, Nova Festival, Ben Gurion, Rockets, United Nations, Reuters Police, Reuters Rockets, Staff, Golani Brigade, Defense, Area Defense, Patriots, Hamas, IDF, Food Programme, WFP Locations: Gaza, Israel, Jenin, Toubas, Nablus, Gaza City, Anadolu, Zahra City, Europe, Tel Aviv, Egypt, Rafah, AFP, Khan Younis, Xinhua, East Jerusalem, Ras, Israel's, Yehuda, Aqsa, Hod HaSharon, Kiryat Shmona, Al, Ahli, Sderot, Gan, Kfar, North Sinai, Samar, Samar Abu Elouf, Beit Kama, Haifa, Cyprus, West, Lebanon, Kfar Saba, Israeli, Be'eri, Rehovot, Mount Herzl, Jerusalem, Kibbutz Be'eri, Modiin Maccabim, Kfar Aza, Ashkelon, Mount Herzel, Yassin, Palestinian, Beitar Ilit, Ramat Gan, Itai, Beit Hanun, Rishon Lezion, United States, Palestinian Territories, Arish
[1/4] Smoke rises from Dhayra village after Israeli shelling as pictured from the Lebanese town of Marwahin, near the border with Israel, southern Lebanon, October 11, 2023. Hezbollah said two of its fighters were killed in south Lebanon on Wednesday and a third was in a serious condition. The fighting has been the deadliest at the border since Hezbollah and Israel went to war in 2006. Hezbollah announced on Wednesday a fighter had died of wounds sustained on Tuesday, increasing to six the number of its fighters killed in Tuesday's violence. Hezbollah deputy leader Naim Qassem said on Oct. 13 the group would act when the time comes.
Persons: Mohamed Azakir, Hashem Safieddine, Joe Biden, Benjamin Netanyahu, Israel, Kibbutz Manara, Naim Qassem, Tom Perry, Laila Bassam, Henriette Chacar, Edmund Blair, Diane Craft Organizations: REUTERS, Rights, United, Palestinian, Hamas, Israeli, Kibbutz, Thomson Locations: Dhayra, Marwahin, Israel, Lebanon, Rights BEIRUT, United States, Iran, Gaza, Zar'it, Lebanon's Ras Naqoura, Rosh HaNikra, Beirut, Jerusalem
Journalists from international news organizations Al Jazeera, Agence France Presse, and Reuters were among the victims, according to statements from their outlets. Hanita is just across the border from the Lebanese town of Alma Chaab, where the group of journalists was covering the exchange of fire, CNN’s video analysis shows. In videos verified by CNN of the aftermath of the attack, at least two other journalists are seen bloodied. Hezbollah, a Lebanese armed group backed by Iran, said it fired at four different Israeli locations on Friday. Earlier on Friday, a CNN team had met Abdallah at a pro-Palestinian rally being covered by journalists at the border town of Maroun el-Ras.
Persons: Al, Hanita, Alma Chaab, CNN’s geolocations, Christina Assi, Reuters videographer Issam Abdallah, Assi, Instagram Abdallah, CNN’s, Benjamin Pittet, Dylan Collins, , Israel, Abdallah, Shireen Abu Akleh Organizations: Southern, Southern Lebanon CNN, CNN, Journalists, Agence France Presse, Reuters, Social, “ Press, AFP, Alma, Apache, West Bank Locations: Southern Lebanon, Lebanon, Hanita, Alma, Instagram, Alma Chaab, Geoconfirmed, American, AFP, ” Israel, Israel, Gaza, Lebanese, Iran, Maroun el, Palestinian
Oil prices rise, but post biggest weekly fall since March
  + stars: | 2023-10-06 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices rose on Friday but remained posted their steepest weekly losses since March, after another partial lifting of Russia's fuel export ban compounded demand fears due to macroeconomic headwinds. On Friday, Brent futures settled up 51 cents at $84.58 per barrel. The sentiment of the statistics is mixed for oil prices. A strong U.S. dollar is typically negative for oil demand, making the commodity relatively more expensive for holders of other currencies. "Fear for the health of the global economy and thus oil demand going forward is at the heart of the sell-off," SEB analyst Bjarne Schieldrop said.
Persons: Brent, WTI, SEB, Bjarne Schieldrop, Baker Hughes Organizations: . West Texas, Labor Department statistics, ING, Companies, Day, Xinhua Locations: Red, Ras Behar, Egypt, Saudi Arabia, Russia, gasoil, U.S
Why superyacht builders are investing in solar
  + stars: | 2023-10-06 | by ( Sydney Boyo | ) www.cnbc.com   time to read: +5 min
Early tech adopters are investing in a new toy: solar-powered electric yachts. "I believe electric yachts and electric motors will be the main propulsion of pleasure yachts and even cargo vessels in the near future." The company says it has an order book of 160 million euros ($168 million), with prices ranging from 3.2 million euros for its 60-foot yacht to 30 million euros for the fully equipped version of its 120-foot vessel. "The smallest boat is around 1.5 million euros and on the upper range there really is no limit. "We think there is a sweet spot for solar electric boats between 50 and 120 feet," said Kress.
Persons: Mike Horn, Michael Köhler, it's, Heiki, Stephan Kress, Sunreef, Rafael Nadal, Fernando Alonso, Nicola Lapp, Kress Organizations: SuperYacht Times, of Yachting, ForSea Ferries, Allied Market Research, Silent Yachts, Yachts, Formula Locations: SuperYacht Times ', North America, Sweden, Austria, Italy, Turkey, Gdansk, Poland, Emirate, Ras Al Khaimah, Sunreef
Oil up $1 on tight U.S. supply, China demand
  + stars: | 2023-09-29 | by ( Robert Harvey | ) www.reuters.com   time to read: +2 min
An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo Acquire Licensing RightsCompanies Saudi Arabian Oil Co FollowLONDON, Sept 29 (Reuters) - Oil prices rose on Friday and were headed for a gain of about 3% for the week, driven by tight U.S. supply and expectations of strong fuel demand in China during the Golden Week holiday. China's fuel demand was set to firm as the week-long Golden Week holiday began on Friday. "(An) increase in international travel during the Golden Week holiday is boosting Chinese oil demand," ANZ analysts said in a client note. Saudi Arabia and Russia's supply cuts will dominate oil prices for the remainder of this year, but a run towards $100 per barrel could be capped by macroeconomic headwinds, analysts said.
Persons: Ahmed Jadallah, Brent, Carsten Fritsch, Robert Harvey, Katya Golubkova, Sonali Paul, Mark Potter Organizations: REUTERS, Rights Companies Saudi Arabian Oil, . West Texas, ANZ, Golden, St . Petersburg International Mercantile Exchange, Reuters, Thomson Locations: Aramco, Saudi, Saudi Arabia, China, U.S, Cushing , Oklahoma, Russia, St
An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo Acquire Licensing RightsSept 29 (Reuters) - Oil prices settled 1% lower on Friday due to macroeconomic concerns and profit taking, but rose about 30% in the quarter as OPEC+ production cuts squeezed global crude supply. U.S. West Texas Intermediate crude (WTI) settled down 92 cents to $90.97, up 1% in the week and 29% in the quarter. While the total rig count fell by 51 in the third quarter, the cuts have slowed compared with a reduction of 81 in the second quarter as oil prices have rebounded due to tightening supplies. The supply cuts announced by Saudi Arabia and Russia are expected to dominate oil prices for the remainder of this year.
Persons: Ahmed Jadallah, Brent, WTI, John Kilduff, Lael Brainard, Baker Hughes, Suvro Sarkar, Robert Harvey, Katya Golubkova, Sonali Paul, Mark Potter, Paul Simao, Jan Harvey, David Gregorio Our Organizations: REUTERS, . West Texas, Federal Reserve Bank of Dallas, Energy Information Administration, Investors, White, Evergrande, HK, Reuters, Aramco, National Australia Bank, DBS Bank, Thomson Locations: Aramco, Saudi, Saudi Arabia, New York, U.S, Brent, OPEC, Russia
An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo Acquire Licensing RightsCompanies Saudi Arabian Oil Co FollowSept 29 (Reuters) - Oil prices were set for a weekly gain of around 2% after regaining ground on Friday as strong holiday demand from China and persistently tight U.S. fundamentals outweighed expectations of possible supply increases from Saudi Arabia. The market eased about 1% in the previous session, as traders took profits after prices soared to 10-month highs, and some worried that high interest rates may weigh on oil demand. Improving macroeconomic data from China, the world's largest oil importer, coupled with strong fuel demand as the country as it embarked on its week-long Golden Week holiday on Friday, supported prices. "(An) increase in international travel during the Golden Week holiday is boosting Chinese oil demand," ANZ analysts said in a client note.
Persons: Ahmed Jadallah, Brent, Katya Golubkova, Jamie Freed, Sonali Paul Organizations: REUTERS, Rights Companies Saudi Arabian Oil, Brent, . West Texas, ANZ, Golden, Traders, Organization of, Petroleum, ING Bank, Aramco, National Australia Bank, Thomson Locations: Aramco, Saudi, Saudi Arabia, China, U.S, Cushing , Oklahoma, OPEC
Fernandez sees a total addressable market of $140 billion to support patients with obesity. He expects there is a potential for GLP-1 drugs to become as common and widely used, much like statins are used to lower cholesterol. Morgan Stanley's Flynn estimates a 30% share of the diabetes market would generate $109 billion on a worldwide basis for GLP-1 drugs. Layer in a 15% to 30% share of the obesity market and that equates to worldwide sales of $97.4 billion to $194.8 billion. Guggenheim's estimates also assume that oral GLP-1 drugs that are currently in development are able to come to market a few years from now.
Persons: Seamus Fernandez, Fernandez, Lilly, Eli Lilly, Morgan Stanley, Terence Flynn, Eli Lilly's Mounjaro, Insulet, Canaccord, William Plovanic, Plovanic, It's, Morgan Stanley's Flynn, Flynn, Novo, Michael Bloom Organizations: Wall, Novo, American Heart Association, Food and Drug Administration, Novo Nordisk, Iqvia, Disease Control Locations: GLP
Brent crude settled down 1 cent to $90.64 a barrel while U.S. West Texas Intermediate crude settled down 22 cents to $87.29. "Much of this reduced supply has simply served to offset a major slowdown in global oil demand," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. Meanwhile, Europe is expecting a light refinery maintenance season this autumn as refiners look to profit from high margins, which could support crude demand. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lacklustre macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast unchanged.
Persons: Brent, Wally Adeyemo, Jim Ritterbusch, Ras Lanuf, Wood Mackenzie, Naeem Aslam, OPEC's, Robert Harvey, Natalie Grover, Florence Tan, Emily Chow, Emelia Sithole, Andrea Ricci, Chizu Organizations: cnsphoto, REUTERS, West Texas, Monday U.S, Ritterbusch, Associates, U.S, Zaye, European Central Bank, International Energy Agency, Organization of, Petroleum, IEA, Thomson Locations: Zhoushan, Zhejiang province, China, Saudi, Saudi Arabia, Russia, United States, Galena , Illinois, U.S, Libya, Zueitina, Brega, Es Sidra, Europe
A powerful storm and heavy floods have killed 150 people in the eastern Libyan city of Derna over the last two days and the death toll is expected to rise to 250, the head of the Red Crescent in Benghazi said on Monday. Qatar's Emir Sheikh Tamim bin Hamad al-Thani instructed the government to send aid to the affected area in eastern Libya, Qatar's state news agency reported. His administration holds little sway in eastern Libya, but Dbeibah said on Sunday he had directed all state agencies to "immediately deal" with the damage and floods in eastern cities. Dbeibah's government is recognized by the Central Bank of Libya, which disburses funds to government departments across the country. The United Nations in Libya said it was following the storm closely and would "provide urgent relief assistance in support of response efforts at local and national levels."
Persons: Storm Daniel, Al Bayda, Marj, Fhakeri, Saleh, Ahmed Mohamed, Ahmad Mismari, Khalifa, Witnesses, Qatar's Emir Sheikh Tamim bin Hamad, Thani, Abdulhamid, Ras Lanuf, Dbeibah Organizations: Reuters, Libyan National Army, UNESCO, Authorities, Central Bank of Libya, United Nations Locations: Misrata, Libya, Libyan, Derna, Benghazi, Sousse, Al, Qatar's, Tripoli, Zueitina, Brega, Es Sidra
"People were asleep and woke up and found their homes surrounded by water," he told Reuters. Heavy floods washed away vehicles, footage broadcast by eastern Libya's Almostkbal TV showed. Qatar's Emir Sheikh Tamim bin Hamad al-Thani instructed the government to send aid to the affected area in eastern Libya, Qatar's state news agency reported. His administration holds little sway in eastern Libya, but Dbeibah said on Sunday he had directed all state agencies to “immediately deal” with the damage and floods in eastern cities. Dbeibah's government is recognised by the Central Bank of Libya, which disburses funds to government departments across the country.
Persons: Storm Daniel, Al Bayda, Marj, Fhakeri, Saleh, Ahmed Mohamed, Ahmad Mismari, Khalifa, Witnesses, Qatar's Emir Sheikh Tamim bin Hamad, Thani, Abdulhamid, Ras Lanuf, Dbeibah, Ayman Werfali, Ahmed Elumami, Moaz Abd, Tarek Amara, Tom Perry, Nick Macfie, Andrew Heavens, William Maclean Organizations: Reuters, Libyan National Army, UNESCO, Authorities, Central Bank of Libya, United Nations, Thomson Locations: BENGHAZI, Libyan, Derna, Benghazi, Sousse, Al, Qatar's, Libya, Tripoli, Zueitina, Brega, Es Sidra, , Tala, Dubai, Cairo, Tunis, Beirut
FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Riyadh says it aims to stabilise the oil market by extending a voluntary oil output cut of 1 million barrels per day until the end of 2023. Declining oil production and revenue this year could see Saudi Arabia's economy shrink for the first time since 2020 at the height of the COVID-19 pandemic, although a hefty dividend from state oil producer Saudi Aramco (2222.SE) should provide a cushion for public finances. Last year the Saudi economy grew 8.7% and generated a fiscal surplus of 2.5% of GDP, its first surplus in nine years as oil soared to highs near $124. "Certainly, we see no signs that the Public Investment Fund's acquisition streak is cooling," RBC Capital Markets said in a note.
Persons: Ahmed Jadallah, Justin Alexander, Monica Malik, Alexander, James Swanston, PIF, Neil Quilliam, Quilliam, Rachna Uppal, Yousef Saba, Ahmad Ghaddar, Susan Fenton Organizations: REUTERS, Saudi Aramco, OPEC's, Khalij Economics, Abu, Abu Dhabi Commercial Bank, PMI, GlobalSource Partners, Capital Economics, International Monetary Fund, IMF, Public Investment Fund, Saudi, Public Investment, RBC Capital Markets, Reuters, Chatham House, Aramco, Riyadh bourse, Thomson Locations: Aramco, Saudi, Saudi Arabia, DUBAI, Riyadh, Ukraine, Abu Dhabi, Saudi Aramco, London, PIF
The UAE introduced a new regulatory body to oversee commercial gaming on Monday, made up of casino and gambling experts from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which forbids the practice. The new federal body, called the General Commercial Gaming Regulatory Authority (GCGRA), would create a “regulatory framework for a national lottery and commercial gaming,” according to Emirati state media WAM. “[GCGRA will] facilitate unlocking the economic potential of commercial gaming responsibly,” WAM said. “I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry,” Mullally said on his new appointment, according to WAM.
Persons: ” WAM, Kevin Mullally, Jim Murren, Mullally, ” Mullally, Ras Al Khaimah, Craig Billings, ” Billings Organizations: Abu Dhabi CNN —, United Arab, Gaming Regulatory Authority, Industry, MGM Resorts International, MGM, Gaming Laboratories, Wynn Resorts, United, WYNN, Wynn Hotels, Global, Caesars Entertainment, Royal, Royal Caribbean Cruise, UAE, Costa Cruises, Bloomberg Locations: Abu Dhabi, United Arab Emirates, UAE, United States, Ras Al, Dubai, Royal Caribbean, Singapore
Storage tanks and oil processing facilities operate beside the Arabian Sea at Saudi Aramco's Ras Tanura oil refinery and terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. The upcoming OPEC+ meeting in Vienna will result in an oil production cut "of some historic kind", said CIO of Pickering Energy Partners, Dan Pickering. Asia-Pacific markets are mixed after Saudi Arabia and Russia extended voluntary oil production cuts to the end of the year. Saudi Arabia will extend its cut of 1 million barrels per day until the end of December, while Russia will reduce its oil exports by 300,000 barrels per day. Brent crude futures settled at $90.04 a barrel, closing above the $90 mark for the first time since November.
Persons: Dan Pickering Organizations: Pickering Energy Partners, Brent, . West Texas Locations: Saudi, Ras Tanura, Saudi Arabia, OPEC, Vienna, Asia, Pacific, Russia
CNN —In his prime, Andrés Iniesta was widely regarded as one of the best midfielders in history. After leaving Spain, Iniesta signed for Japanese club Vissel Kobe and enjoyed reasonable success in following five years. Mohamed Farag/Getty ImagesAmid interest from around the world, including Major League Soccer (MLS), Iniesta eventually signed a one-year deal with UAE side Emirates Club. There were reports earlier this year that Iniesta may team up with Lionel Messi in the MLS, although it didn't materialize. “Football is a global sport, it’s a world sport where everybody would like to have different football players,” he said.
Persons: CNN —, Iniesta, – La Roja, Mohamed Farag, ” Iniesta, CNN’s Becky Anderson, , I’m, he’s, Lionel Messi, Mike Hewitt, – Lionel Messi, Sergio Busquets, Jordi Alba, Germain, Messi, , Cristiano Ronaldo, Karim Benzema Organizations: CNN, Spain, Vissel Kobe, Barcelona, Major League Soccer, UAE, Emirates, Ajman Club, , Emirates Club, Inter Miami, MLS, Messi, Argentine, Paris Saint, Europe’s Locations: Barcelona, Spain, Japan, UAE, Ras Al Khaimah, North America, Barça, Catalonia, Catalan, ., Saudi Arabian, Europe
Oil prices fall on weak economic data, interest rate worry
  + stars: | 2023-08-24 | by ( ) www.cnbc.com   time to read: +2 min
Manufacturing data from a host of purchasing managers' index surveys on Wednesday painted a grim picture of the health of economies across the globe, raising demand concerns. U.S. business activity approached the stagnation point in August, with growth at its weakest since February. Meanwhile, Federal Reserve officials and policymakers from the European Central Bank, the Bank of England and the Bank of Japan head to Jackson Hole where higher-for-longer interest rate talk may dominate despite a dip in inflationary pressures. On the supply side, Iran's crude oil output will reach 3.4 million barrels per day by the end of September, the country's oil minister was quoted as saying by state media, even though U.S. sanctions remain in place. U.S. crude inventories fell by 6.1 million barrels in the week to Aug. 18 to 433.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.8 million-barrel drop.
Persons: Jerome Powell, Brent, Jackson Organizations: Federal, U.S, West Texas, Federal Reserve, European Central Bank, Bank of England, Bank of Japan Locations: Ras Behar, Egypt, Jackson Hole , Wyoming, Japan, Germany, American
Spanish midfielder Iniesta joins Emirates Club
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +1 min
Soccer Football - Friendly - Vissel Kobe v FC Barcelona - Japan National Stadium, Tokyo, Japan - June 6, 2023 Vissel Kobe's Andres Iniesta applauds the fans as he gets substituted by Haruya Ide REUTERS/Kim Kyung-Hoon/File PhotoAug 8 (Reuters) - Former Spain and Barcelona midfielder Andres Iniesta has joined Emirates Club, the UAE Pro league announced on Tuesday. "Welcome Iniesta", Emirates club said on messaging platform X, formerly known as Twitter. The 39-year-old player left Japanese club Vissel Kobe last month after five years. Iniesta won nine LaLiga titles with Barcelona and four Champions League titles. With Spain, he won the 2010 World Cup and back-to-back Euro titles in 2008 and 2012.
Persons: Vissel Kobe's Andres Iniesta applauds, Haruya Ide, Kim Kyung, Andres Iniesta, Iniesta, Shady Amir, Clare Fallon Organizations: Soccer Football, FC Barcelona, Japan, Haruya Ide REUTERS, Barcelona, Emirates Club, UAE Pro, Emirates, Twitter, Vissel Kobe, League, Spain, Vissel, AFC Champions League, Thomson Locations: Kobe, Tokyo, Japan, Spain, Ras Al, Khaimah, Vissel Kobe
Oil prices rose slightly in early Asian trading on Thursday, as markets weighed bullish U.S. inventory data on Wednesday and a likely extension of OPEC+ output cuts against the fallout of Fitch's downgrade of the U.S. government's top credit. Both benchmarks had been trading at near their highest levels since April on Wednesday, but closed down 2% amid risk-off investor sentiment following the ratings downgrade. Wall Street's three main indexes closed lower and Treasury yields rose on Wednesday as uncertainty rippled through financial markets. The inventory drawdown, which dramatically exceeded analysts' expectations in a Reuters poll of 1.4 million barrels, pointed to global demand outpacing supply as deep cuts from major producers continue. Reuters reporting suggests that OPEC+ is unlikely to tweak its current oil output policy, with Saudi Arabia expected to extend their voluntary 1 million bpd cut for another month to include September.
Persons: Fitch, refiners Organizations: Brent, U.S, West Texas, AAA, U.S ., Energy Information Administration, Organization of, Petroleum, Reuters Locations: Red, Ras Behar, Egypt, U.S, Saudi Arabia, Russia, Moscow
General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File PhotoSummary Saudi Arabia flags possibility of 'deepening' cut in the futureRussia announces 300,000 bpd export cut in Sept.OPEC+ panel to meet FridayDUBAI, Aug 3 (Reuters) - Saudi Arabia will extend a voluntary oil output cut of one million barrels per day for another month to include September, it said on Thursday, adding it could be extended beyond that or deepened. The cut may be "extended, or extended and deepened", he added, flagging the possibility of further market tightening. Russia will also cut oil exports by 300,000 bpd in September, Deputy Prime Minister Alexander Novak said shortly after the Saudi announcement. Oil rose on Thursday, rebounding from an earlier decline after the Saudi announcement, with Brent crude futures up 42 cents to $83.62 a barrel by 1328 GMT.
Persons: Ahmed Jadallah, Alexander Novak, Prince Abdulaziz bin Salman, Ahmed Elimam, El, Alex Lawler, Jane Merriman, Jan Harvey Organizations: REUTERS, Friday DUBAI, OPEC, Organization of, Petroleum, Ministerial, Brent, Saudi Energy, Thomson Locations: Saudi, Saudi Arabia, Russia, OPEC, Vienna, Riyadh, El Dahan, Dubai, London
At a time when the mighty woolly mammoth roamed the Earth, some 46,000 years ago, a minuscule pair of roundworms became encased in the Siberian permafrost. Millenia later, the worms, thawed out of the ice, would wriggle again, and demonstrate to scientists that life could be paused — almost indefinitely. The discovery, published this week in the peer-reviewed journal PLOS Genetics, offers new insight into how the worms, also known as nematodes, can survive in extreme conditions for extraordinarily long periods of time, in this case tens of thousands of years. In 2018, Anastasia Shatilovich, a scientist from the Institute of Physicochemical and Biological Problems in Soil Science RAS in Russia, thawed two female worms from a fossilized burrow dug by gophers in the Arctic.
Persons: wriggle, Anastasia Shatilovich Organizations: PLOS Genetics, Institute of Physicochemical, gophers Locations: Russia
Oil prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data. Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate crude fell 51 cents, or 0.6%, to $79.58 a barrel, on track for a 5.2% weekly increase. Oil rose last session as fears of a global economic slowdown were eased by strong earnings reports and better-than-expected U.S. economic data. On Wednesday, the U.S. Federal Reserve implemented another 25 basis point interest rate hike as widely expected, and the European Central Bank followed suit on Thursday.
Persons: Brent, Jerome Powell's, Jim Ritterbusch Organizations: . West Texas, Commerce Department, U.S, Federal, U.S . Federal Reserve, European Central Bank, Ritterbusch, Associates Locations: Ras Behar, Egypt, Galena , Illinois
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