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U.S. West Texas Intermediate crude edged down 2 cents to $70.84 as of 0222 GMT. "Crude prices remain heavy as energy traders just can't shake off global demand concerns. U.S. crude stockpiles rose by about 3.6 million barrels in the week ended May 12, according to market sources citing American Petroleum Institute figures. U.S. government data on crude and product stockpiles is due at 1430 GMT. The U.S. Treasury Department has estimated that the United States will go into a crippling default as early as June 1 if Congress does not lift the debt ceiling.

☆ Oil dips on demand worries after unexpected U.S. crude build
▼ + stars: | 2023-05-17 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

Brent crude futures was 29 cents lower, or down by 0.4%, to $74.60 a barrel. U.S. West Texas Intermediate crude edged down by 32 cents, also 0.4% down, to $70.55, as of 0005 GMT. Right now too much oil is still available," Edward Moya, senior market analyst at OANDA, said in a note. The U.S. Treasury Department has estimated that the United States will go into a crippling default as early as June 1 if Congress does not lift the debt ceiling. Oil prices fell even as the International Energy Agency raised its forecast for global oil demand this year by 200,000 barrels per day (bpd) to a record 102 million bpd.

TOKYO, May 17 (Reuters) - Rich nations should boost financial and technical support to poorer countries to help them tackle climate change and achieve similar decarbonisation goals, a senior Japanese environment ministry official said ahead of a G7 summit in Hiroshima. Developed countries promised in 2009 to transfer $100 billion annually between 2020 and 2025 to vulnerable states hit by increasingly severe climate-linked impacts and disasters - but that target was never met. G7 energy and climate ministers discussed how to meet that goal when they met in the Japanese city of Sapporo last month. "All countries should follow the good example of Japan so that we could achieve the $100 billion goal," he said, adding that he hoped that the level would be achieved as soon as possible and maintained through 2025. Developing countries say they need far more support than that from the rich nations, who are responsible for most of the greenhouse gas emissions, otherwise they cannot afford to cut CO2 emissions.

WASHINGTON/PARIS, May 17 (Reuters) - The longest shadows at the Group of Seven (G7) leaders' summit this week will be cast by two countries that weren't even invited to the Hiroshima gathering: China and Russia. The G7 countries -- the United States, Japan, Germany, the United Kingdom, France, Canada and Italy -- are all closely tied economically to China, the world's second-largest economy and a key global manufacturing base and market. "Everything is part of the great power competition that is taking place between the United States and Russia, and the United States and China." A woman walks past a “G7 Hiroshima” flower installation near the Peace Memorial Museum, ahead of the G7 summit, in Hiroshima, Japan, May 17, 2023. The United States is at the forefront in pushing for stronger investment controls, yet Germany is more cautious, given its heavy reliance on trade with Beijing.

The G7 countries -- the United States, Japan, Germany, the United Kingdom, France, Canada and Italy -- are all closely tied economically to China, the world's second-largest economy and a key global manufacturing base and market. "Everything is part of the great power competition that is taking place between the United States and Russia, and the United States and China." A woman walks past a “G7 Hiroshima” flower installation near the Peace Memorial Museum, ahead of the G7 summit, in Hiroshima, Japan, May 17, 2023. The G7 is looking to draw closer to members of the "Global South" to counter China's role on the global stage. The United States is at the forefront in pushing for stronger investment controls, yet Germany is more cautious, given its heavy reliance on trade with Beijing.

☆ Oil recoups losses on plans for SPR refill, higher seasonal demand
▼ + stars: | 2023-05-09 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Companies Bank of America Corp FollowTOKYO, May 9 (Reuters) - Oil prices ticked up on Tuesday, reversing a more than 2% drop earlier in the session, as markets weighed U.S. government's plans to refill the nation's emergency oil reserve and anticipated higher seasonal demand. Brent crude settled 43 cents, or 0.6% higher, at $77.44 a barrel, while U.S. West Texas Intermediate (WTI) crude closed up 24 cents, or 0.3%, at $73.39. Biden administration plans to begin purchasing oil to replenish the Strategic Petroleum Reserve helped cover speculative short positions, said Robert Yawger, executive director of energy futures at Mizuho. A report from the Energy Information Administration (EIA) pointing to higher seasonal demand and lower-than-expected output also supported prices. "We expect the seasonal rise in oil consumption and a drop in OPEC crude oil production to put some upward pressure on crude oil prices in the coming months," the Energy Information Administration said in its Short-Term Energy Outlook.

☆ Oil prices ease in cautious trade ahead of US inflation data
▼ + stars: | 2023-05-09 | by ( Emily Chow | ) www.reuters.com time to read: +2 min

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." "If tomorrow's CPI data remains at around 5% by market consensus, and if the core CPI does not drop significantly, it will likely continue to support the rise in oil prices," said CMC Markets analyst Leon Li. While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone.

REUTERS/Sarah MeyssonnierTOKYO, May 9 (Reuters) - Two major European asset managers have jointly filed a shareholder resolution at Japanese electricity generator Electric Power Development Co Ltd (9513.T), known as J-Power, for the second consecutive year in a row. The asset managers are calling on J-Power, Japan's largest operator of coal-fired power stations, to set and disclose credible short and medium-term emissions reduction targets, aligned with the goals of the Paris Agreement. The resolution is supported by Man Group (EMG.L), the world's largest publicly traded hedge fund, ACCR said. Amundi, Man Group, and HSBC Asset Management have nearly $3 trillion in assets combined under management. J-Power will "carefully consider" proposals and disclose its board of directors' opinions "as soon as they are determined", the company said on Tuesday.

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains in the previous two sessions while the market remained cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

☆ Oil prices dip in cautious trade ahead of U.S. inflation data
▼ + stars: | 2023-05-09 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, May 9 (Reuters) - Oil prices fell in early trade on Tuesday, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve's next interest rate decision. Markets are awaiting U.S. consumer price inflation figures for April due on Wednesday to provide some indication on the U.S. central bank's next rate decision. U.S. consumers said last month they expected slightly lower inflation in a year's time, a report showed on Monday. While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession in the U.S., the world's biggest oil consumer, eased and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

Prior to Russia's invasion of Ukraine in February last year, Ukraine ran its nuclear reactors on Russian fuel, producing 55% of the country's electricity. Cameco, like Energoatom, can adjust how much uranium it delivers on two years' notice, Kotin said. Contracted uranium prices are typically higher than spot prices, meaning that Cameco may take a discount if Ukraine purchases less uranium due to the war's impact, Carter said. Kotin said Energoatom will buy Cameco's uranium at a price based equally on a fixed price and a market price. BIG POTENTIAL REWARDSWhile Ukraine will rely on Cameco for uranium, it has struck separate deals for further processing.

China's manufacturing activity unexpectedly fell in April, official data showed on Sunday, the first contraction since December in the manufacturing purchasing managers' index. China is expected to be the biggest factor driving oil demand growth this year, he added. The U.S. Federal Reserve, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies, making oil more expensive for other currency holders. Oil prices drew some support from U.S. manufacturing activity pulling off a three-year low in April, as new orders improved slightly and employment rebounded.

☆ Oil drops as economic growth concerns offset OPEC+ cuts
▼ + stars: | 2023-05-01 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies on Monday, making oil more expensive for other currency holders. "The failure to reach more solid ground above $80.50 in Brent points to continued selling interest amid the well known growth/demand concerns," said Ole Hansen, head of commodity Strategy at Saxo Bank. "We believe the oil market will be in deficit through the remainder of the second quarter" following the OPEC+ cuts, said Baden Moore, head of commodity and carbon strategy at National Australia Bank. Reporting by Katya Golubkova; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Oil drops as US rate hike concern, weak China data offset OPEC+ cuts
▼ + stars: | 2023-05-01 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies on Monday, making oil more expensive for other currency holders. Weak economic data from China also weighed. "We believe the oil market will be in deficit through the remainder of the second quarter" following the OPEC+ cuts, said NAB's Moore, who added that the bank expected the curbs plus higher demand to drive prices higher. Reporting by Katya Golubkova; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Oil prices drop as US rate hike fears, weak China data offset supply cuts
▼ + stars: | 2023-05-01 | by ( Katya Golubkova | ) www.reuters.com time to read: +3 min

The Fed is expected to increase interest rates by another 25 basis points this week. The U.S. central bank has raised its policy rate by 475 basis points since March of last year from the near-zero level to the current 4.75%-5.00% range. In the week ahead, the Reserve Bank of Australia is widely expected to extend a rate hike pause on Tuesday and the European Central Bank could surprise with an outsized half-point increase on Thursday. Brent crude has been tracking broader markets in recent sessions, with a slew of economic data creating more uncertainty about the outlook," ANZ Research said in a client note. Reporting by Katya Golubkova; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Oil prices dip on U.S. rate hike expectations, weak China PMI
▼ + stars: | 2023-05-01 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

U.S. consumer spending was flat in March as an increase in outlays on services was offset by a decline in goods, but persistent strength in underlying inflation pressures could see the Federal Reserve raising interest rates again. The Fed is expected to increase interest rates by another 25 basis points this week. On Friday, oil prices mostly rose over 2% after energy firms posted positive earnings, and U.S. data showed crude output was declining while fuel demand was growing. Fuel demand rose to nearly 20 million bpd, its highest since November, according to the Energy Information Administration (EIA). EIA data last week showed U.S. crude oil and gasoline inventories fell more than expected as demand for the motor fuel picked up ahead of the peak summer driving season.

☆ Oil prices slide on Fed rate hike expectations, weaker China manufacturing data
▼ + stars: | 2023-05-01 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

An acceleration in consumer spending was offset by businesses liquidating inventories in anticipation of weaker demand later this year amid higher borrowing costs. Meanwhile China's manufacturing purchasing managers' index (PMI) declined to 49.2 from 51.9 in March, official data showed on Sunday, slipping below the 50-point mark that separates expansion and contraction in activity on a monthly basis. Brent crude has been tracking broader markets in recent sessions, with a slew of economic data creating more uncertainty about the outlook," ANZ's note said. On Friday, oil prices mostly rose over 2% after energy firms posted positive earnings, and U.S. data showed crude output was declining while fuel demand was growing. Fuel demand rose to nearly 20 million bpd, its highest since November, according to the Energy Information Administration (EIA).

"Japan may not need LNG for 20 years ... but other Asian countries need to replace coal with something and LNG will play an important role," he said, adding that JERA could supply fuel to those countries likely to need it. "We don't view LNG demand just for Japan, but for Asia as well," he said. Last December, JERA signed a key deal with Oman LNG to buy up to 12 cargoes, or about 800,000 tonnes a year for a decade, beginning from 2025. Asian spot LNG prices held at 22-month lows in April as demand stayed weak in the key north Asian markets of China, Japan and South Korea. Apart from its integrated gas-to-power business, which covers fossil fuel procurement through power generation, JERA is expanding use of renewable power to decarbonise.

☆ Oil prices rebound after recession fear, Russia exports fuelled earlier losses
▼ + stars: | 2023-04-27 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, April 27 (Reuters) - Oil prices rose on Thursday, paring earlier losses that were fuelled by U.S. recession fear and increased Russian oil exports dulling the impact of OPEC production cuts. "Crude oil slumped, as prospects of weaker economic growth offset a bullish inventory report," ANZ Research said in a client note. "The market is also questioning the validity of OPEC's recent production cut amid strong exports of Russian crude." Energy Information Administration (EIA) data showed U.S. crude inventories fell last week by 5.1 million barrels to 460.9 million barrels, far exceeding analysts' average forecast of a 1.5 million drop in a Reuters poll. Oil loading from Russia's western ports in April will be the highest since 2019, above 2.4 million barrels per day, despite Moscow's pledge to cut output, sources have said.

Oil prices dropped almost 4% on Wednesday as jitters about a U.S. economic downturn overshadowed a larger-than-expected fall in U.S. crude inventories. The OPEC+ group of leading oil producers does not see the need for further oil output cuts but is always able to adjust its policy, Novak said. Data on Thursday showed U.S. economic growth slowed by more than expected in the first quarter, although jobless claims fell in the week ending April 22. Oil prices were also pressured as weak risk sentiment spread from the banking sector after First Republic Bank's continued slump. Analysts see weak refinery margins as a major contributor to the recent oil price decline, with oil broker PVM's Tamas Varga pointing to heating oil and gasoil as "the main possible culprit for the outsized weakness".

☆ AI Technology Like ChatGPT Will Reshape Software Coding Jobs Forever
▼ + stars: | 2023-04-26 | by ( Aki Ito | ) www.businessinsider.com time to read: +14 min

Their conclusion: 19% of workers hold jobs in which at least half their tasks could be completed by AI. Researchers at Microsoft and its subsidiary GitHub recently divided software developers into two groups — one with access to an AI coding assistant, and another without. Amazon has built its own AI coding assistant, CodeWhisperer, and is encouraging its engineers to use it. Another argument from the optimists: Even as AI takes over the bulk of coding, human coders will find new ways to make themselves useful by focusing on what AI can't do. So maybe, long term, human coders will survive in some new, as-yet-to-be-determined role.

TOKYO, April 23 (Reuters) - The Group of Seven (G7) economic powers called on Sunday for the "extension, full implementation and expansion" of a critical deal to export Ukrainian grain through the Black Sea, the group's agriculture ministers said in a communique. Brokered by the United Nations and Turkey, the deal was signed in Istanbul last July, allowing Ukraine to export more than 27 million tonnes of grain from several of its Black Sea ports. In the communique after a two-day meeting in Miyazaki, Japan, the G7 agriculture ministers "recognised the importance" of the deal, saying: "We strongly support the extension, full implementation and expansion of (the Black Sea Grain Initiative) BSGI." G7 members "stand ready" to support recovery and reconstruction of Ukraine, including by providing expertise in de-mining of agricultural land and reconstruction of agricultural infrastructure, the document said. Russian Foreign Minister Sergei Lavrov is scheduled to discuss the Ukraine Black Sea grain export deal with U.N. Secretary-General Antonio Guterres in New York this week.

☆ Oil prices fall as strengthening dollar prompts weak demand concern
▼ + stars: | 2023-04-20 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, April 20 (Reuters) - Oil prices fell on Thursday as muted U.S. economic data and expectations of interest rate hikes pushed up the U.S. dollar, prompting fear of a stronger dollar hurting global oil demand by making it more expensive. West Texas Intermediate crude (WTI) for May delivery lost 28 cents, or 0.35%, to trade at $78.88 at 0005 GMT. "This unsettled markets, magnifying recent concerns that monetary tightening has weakened demand for oil. , , ,The crude stockpile decline was far steeper than analysts' estimate of 1.1 million barrels, and the American Petroleum Institute's estimates late on Tuesday of 2.7 million barrels. "WTI crude is back below the $80 level and it could continue drifting lower if the strong dollar trade resumes," Edward Moya, senior market analyst at OANDA, said in a client note.

☆ Opinion: A chilling insight into life for deported Ukrainian children
▼ + stars: | 2023-04-19 | by ( David A. Andelman | ) edition.cnn.com time to read: +14 min

She spoke with writer David A. Andelman about the remarkable mission to bring the Ukrainian children home. Here, Yana picks up the story from the moment the children and their grandmother crossed the border into Russia. The children went to a Russian school. David A. Andelman: Tell us about the school where the children went? They did not do anything to purposely hurt the Ukrainian children.

SAPPORO, Japan, April 16 (Reuters) - The Group of Seven rich nations on Sunday set big new targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move toward a quicker phase-out of fossil fuels. G7 ministers finish two days of meetings on climate, energy and environmental policy in the northern Japanese city of Sapporo on Sunday. Renewable fuel sources and energy security have taken on a new urgency following Russia's invasion of Ukraine. In their communique, the members pledged to collectively increase offshore wind capacity by 150 gigawatts by 2030 and solar capacity to more than 1 terawatt. "Hopefully this will provide a challenge to Japan, for which offshore wind is the missing part of the jigsaw that could see its power sector decarbonise much quicker than it thought possible."

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