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Russia remained the top supplier to China, with pipeline and seaborne arrivals of 2.04 million bpd in July, which was down from June's 2.56 million bpd. However, it was still enough to exceed imports from Saudi Arabia, which Refinitiv estimated at 1.82 million bpd in July, down from 1.94 million bpd in June. It's also worth noting that much of the strength in China's crude imports is because of massive inflows into commercial or strategic storages. India's refiners continue to gorge on discounted Russian crude, with arrivals in July estimated at an all-time high of 2.08 million bpd. Japan's July oil imports are estimated at 2.49 million bpd, up from June's 2.11 million bpd, while South Korea's are put at 2.76 million bpd, up from 2.53 million bpd in June.

Persons: Amit Dave LAUNCESTON, It's, China doesn't, India's refiners, Brent, Clyde Russell, Christopher Cushing Organizations: REUTERS, Refinitiv Oil Research, Brent, OPEC, Reuters, Thomson Locations: Vadinar, Gujarat, India, Australia, China, Asia, Russia, June's, Saudi Arabia, OPEC, Angola, Oman, East, Iraq, Moscow, South, North Asia

LAUNCESTON, Australia, Aug 1 (Reuters) - Bad news for China's economy appears to spell good news for commodities, with prices of copper and iron ore gaining on hopes for new stimulus measures after yet another weak indicator. Dalian Commodity Exchange contracts ended daytime trade 0.5% higher at 841.5 yuan per metric ton, snapping two sessions of declines. Imports are estimated at 101.39 million metric tons by commodity analysts Kpler and at 100.96 million by Refinitiv. If the official figure is in line with these estimates, it would be the strongest month for iron ore imports since January's 103.6 million metric tons. Inventories have dropped for five straight weeks and are now 10% below the 13.5 million metric tons for the same week in 2022.

Persons: Beijing's, Miral Organizations: PMI, London, Reuters Graphics, Singapore, Dalian, Exchange, Reuters, Thomson Locations: LAUNCESTON, Australia, Beijing, Shanghai

Asia's imports of the super-chilled fuel were estimated at 21.85 million metric tons in July by commodity analysts Kpler, up from June's 21.28 million and the most since January. Europe's imports were estimated at 8.72 million metric tons in July, down from June's 9.06 million and lowest monthly total since August last year. The Kpler data point to an increase of just 570,000 metric tons in Asia's imports in July, while Europe saw a drop of 340,000. Among Asia's major importers, China's demand remains muted with Kpler estimating July arrivals at 5.88 million metric tons, down from 6.20 million in June. South Korea, the world's third-biggest LNG buyer, saw July imports of 2.81 million metric tons, a small decline from June's 2.92 million.

Persons: Robert Birsel Organizations: LNG, Europe's, Reuters, Thomson Locations: LAUNCESTON, Australia, Europe, June's, Asia, Ukraine, Japan, China, South Korea, India, U.S, United States, Europe's U.S

LAUNCESTON, Australia, July 26 (Reuters) - China boosted its stockpiling of crude oil to the highest level in three years in June, taking advantage of cheap Russian crude to bolster inventories and add flexibility to future import requirements. The volume of crude available to refiners was 16.93 million bpd, consisting of imports of 12.67 million bpd and domestic output of 4.26 million bpd. This would have the impact of lowering their import bills, but also of cutting global oil demand and putting some downward pressure on oil prices. What is becoming clearer is that the amount of heavily discounted crude China can buy is reaching a maximum. In addition to discounted Russian oil, China also buys crude from Iran, although this is largely disguised as imports from other nations in official data.

Persons: China doesn't, Jamie Freed Organizations: National Bureau of Statistics, International Energy Agency, Brent, Reuters, Thomson Locations: LAUNCESTON, Australia, China, OPEC, Saudi Arabia, Russia, Iran, Ukraine

☆ Cheynes Beach: Dozens of whales die in mass stranding in Western Australia
▼ + stars: | 2023-07-26 | by ( Chris Lau | ) edition.cnn.com time to read: +2 min

CNN —More than 50 whales have died in a mass stranding event in Western Australia as officials and volunteers race to save dozens of others stuck in shallow waters, authorities said Wednesday. A pod of stranded pilot whales off Cheynes Beach in Western Australia. Toothed whales such as pilot whales that use sonar to navigate are more commonly prone to stranding than their toothless counterparts, Pirotta said. Tasmania’s largest stranding was in 2020, when more than 450 pilot whales were found. Earlier this month, a pod of more than 50 pilot whales died after a mass stranding on a northwestern Scottish island.

Persons: ”, Allan Marsh, Vanessa Pirotta, Pirotta Organizations: CNN, Facebook, Parks and Wildlife Service, Western, Southern Hemisphere Locations: Western Australia, Tasmania, Australia, Scottish

“We’re horrified that something like this could happen, not only to us, but to anyone,” Saffrine Duggan told her supporters. Former US fighter pilot Daniel Duggan is in custody in Australia pending extradition to the US on charges including that he trained Chinese military pilots. Courtesy Saffrine DugganTraining Chinese pilotsDuggan doesn’t deny training Chinese pilots, but he maintains they were civilians – plane enthusiasts seeking to improve their skills or prospective members of China’s then rapidly expanding aviation industry. And a spokesperson for New Zealand’s Defence Force confirmed to Reuters that four of its former military pilots had been recruited by the company. It’s the wrong type of approach and landing.”In its statement to CNN, TFASA denied teaching aircraft carrier approach and landing techniques to Chinese military pilots.

Persons: Daniel Duggan, Duggan, Duggan’s, “, ”, Saffrine, “ We’re, ” Saffrine Duggan, Paul Devitt, Duggan –, –, ” Duggan, Saffrine Duggan, TFASA, they’re, Duggan doesn’t, China’s, Glenn Kolomeitz, ” “ Dan, Richard Marles, It’s, Constant, Daniel Duggan's, Mike Burgess, Ben Hancock, ” Hancock, Hancock, hasn’t, Dan didn’t, “ TFASA, he’s, Xi Jinping, reunify, Joe Biden, Ng Han Guan, Xi, Donald Trump, “ Don’t Organizations: Australia CNN —, Marine Attack Squadron, Intelligence, Security, Australian Security Intelligence Organisation, Lithgow Correctional Centre, Australian Broadcasting Corporation, ABC, US Marines, US State Department, of Defense Trade, Test Flying Academy of South, CNN, TFASA, Embassy, Former, Saffrine Duggan Training, Australian Defence Force, RAF, UK Defence Ministry, UK Armed Forces, Australia’s, New Zealand’s Defence Force, Reuters, Marles, ASIO, Buckeye, Marine Corps, US Navy, Aircraft, Training Squadron, US Department of Defense, Harrier, Getty, Pacific Locations: Brisbane, Australia, United States, Yuma , Arizona, China, Beijing, Lithgow, Sydney, Australian, Test Flying Academy of South Africa, Tasmania, South Africa, Former US, New South Wales, Persian, Asia, Townsville, Pensacola, Fla, Western, Taiwan, AFP

☆ More than 50 pilot whales die after mass stranding on Scottish island
▼ + stars: | 2023-07-17 | by ( Hafsa Khalil | ) edition.cnn.com time to read: +4 min

London CNN —A pod of more than 50 pilot whales has died after a mass stranding on a northwestern Scottish island, according to a marine charity on the ground. Pilot whales are sociable animals, so if one becomes stranded, experts believe others from the pod will follow and also become stranded. Known to be gregarious, pilot whales have “extremely strong social and emotional bonds with one another,” Jarvis told CNN. In the UK, the largest stranding of pilot whales was in Scotland in 2011, when 77 were found stuck on the country’s northerly shores, according to Jarvis. Tasmania’s largest stranding was in 2020, when more than 450 pilot whales were found.

Persons: ” Dan Jarvis, Mairi Robertson, Carrey, BDMLR, ” Jarvis, we’ve, SMASS, We’re, Peter Evans, ”, Evans, Jarvis Organizations: London CNN, British, Welfare, CNN, Scottish, Sea Watch Foundation Locations: Scottish, North Tolsta, Lewis, Scotland, Tasmania, Australia

China, the world's second-biggest LNG buyer, is estimated to have imported 5.96 million metric tons of the super-chilled fuel in June, according to data compiled by Refinitiv. While Asia's overall LNG imports are showing a relatively steady picture, Europe's have been trending lower amid ample stockpiles of natural gas. Europe imported 9.50 million metric tons in June, the lowest monthly total since August and down from 12.11 million in May, according to Refinitiv. Asia's imports of U.S. LNG rose to 1.34 million metric tons in June, the most since February and up from 1.21 million in May. In contrast, Europe's imports of U.S. LNG dropped to 4.15 million metric tons in June, the least since September and down from 5.63 million tons in May.

Persons: Refinitiv, Brent, Robert Birsel Organizations: LNG, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Asia, Ukraine, Europe, ASIA, EUROPE, Refinitiv, Japan, South Korea, India, United States, U.S

2 oil exporter, said shortly after the Saudi announcement that it would cut crude shipments by 500,000 bpd for August. Taken together, the Saudi and Russian moves mean that the total output cuts pledged by members of the OPEC+ producer group are 5.16 million bpd, or about 5% of daily global demand. The subtext to Saudi calls for stability and balance is that the kingdom wants to keep oil prices at a level it deems high enough. The allocation of additional crude import permits is a factor that could keep crude imports strong in the second half, but it's likely that much will depend on crude prices. This level of stockpile building gives China's refiners options should crude oil prices rise as OPEC+ cuts output.

Persons: refiners, Jamie Freed Organizations: Saudi, Brent, Organization of, Petroleum, International Energy Agency, Refinitiv Oil, Reuters, Thomson Locations: LAUNCESTON, Australia, Saudi Arabia, Russia, Saudi, OPEC, Russian, CHINA, Beijing, China

LAUNCESTON, Australia, July 3 (Reuters) - Australia's exports of new energy metals are expected to rise in value above those of thermal coal, the polluting fuel that has been the mainstay of electricity generation across much of Asia. In contrast, exports of thermal coal are expected to slide to A$38 billion in 2023-24 fiscal year, down from A$64 billion in the prior year, according to the report, released on Monday. Australia is the world's second-biggest exporter of thermal coal behind Indonesia, and is the top exporter of coking coal, which is mainly used to make steel. While exports of battery metals are expected to overtake those of thermal coal this fiscal year, the driver isn't increased volumes of shipments of the metals, or decreased export of coal. The government expects the volume of thermal coal exports to actually increase in 2023-24 to 201 million metric tons, up from 178 million in 2022-23.

Persons: Shri Navaratnam Organizations: Australian government's Department of Industry, Science, Resources, Newcastle, Reuters, Thomson Locations: LAUNCESTON, Australia, Asia, Indonesia, United States, Qatar, Ukraine

☆ Australian home prices climb for fourth month in June
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File PhotoSYDNEY, July 3 (Reuters) - Australian home prices rose for a fourth consecutive month in June as a sustained squeeze on housing supply helped lift values nationwide, data showed on Monday. Property consultant CoreLogic figures showed national home prices were up 1.1% in June from the previous month, after bottoming in February and starting a sustained rise. Every state and territory capital except Tasmania's Hobart recorded higher prices for dwellings, according to CoreLogic. "A slowdown in the pace of capital gains could be a reflection of a change in sentiment as interest rate expectations revise higher," Lawless said. "Higher interest rates and lower sentiment will likely weigh on the number of active home buyers, helping to rebalance the disconnect between demand and supply."

Persons: David Gray, Tasmania's Hobart, CoreLogic's Tim Lawless, Lawless, Sam McKeith, William Mallard Organizations: REUTERS, ., Reserve Bank of Australia, Thomson Locations: Sydney, Clovelly, Australia, Tasmania's, CoreLogic, New South Wales, Brisbane, Queensland

An example is the trade in physical cargoes from the Middle East where Unipec, the trading arm of top Chinese refiner Sinopec, has been selling heavily this month. There are several reasons for this, including the output cuts implemented by OPEC+, which effect more Middle East grades than Brent and related light crudes. Asia is expected to import 29.12 million bpd in June, a third consecutive monthly gain and up from 26.47 million bpd in May, according to Refinitiv. China's imports are estimated at 12.5 million bpd, up slightly from May's 12.16 million, while India is forecast to receive 5.24 million bpd, up from 4.74 million bpd in May. Asia's imports from the United States are expected to reach a record high of 2.58 million bpd in June, up from 1.66 million bpd the prior month.

Persons: Unipec, refiners, BRENT, Brent, Stephen Coates Organizations: Unipec, Refinitiv Oil Research, Saudi Aramco, OPEC, Saudi, Aramco, refiners, Brent, . West Texas, Reuters, Thomson Locations: LAUNCESTON, Australia, Oman, Dubai, Middle East, Africa, Americas, Asia, Saudi, Brent, China, India, United States, Europe, North America

☆ Tasmania, Australia: 'No sign' of missing Belgian hiker as police call conditions 'not survivable'
▼ + stars: | 2023-06-29 | by ( Isaac Yee | ) edition.cnn.com time to read: +1 min

Police said they had issued a concern for welfare report for Cremer on June 26, some 14 days after she stopped contacting her family and friends. She is believed to have been heading to Tasmania’s west coast when she went missing. Celine Cremer’s sister Amelie called for help locating her sister in a Facebook post earlier this week. “We no longer have a sign of life of my sister,” she wrote on June 26, though she said the family was not giving up. The Philosopher Falls track has been closed to the public while police continue to search the area.

Persons: Celine Cremer, Cremer, Anthea Maingay, ” Maingay, “, Celine, Celine Cremer’s, Amelie, ” Organizations: CNN, Tasmania Police, Police Locations: Belgian, Australia, Tasmania, Waratah, Tasmania’s

What BHP is touting is a process it calls credible and cost-effective, and it's these aims that are worth examining. BHP is the world's biggest miner of coking coal, used to make steel, and ranks third in iron ore, the main steel raw material. Diesel accounts for 76% of the emissions at the iron ore operations in Western Australia state, and 45% at the BHP Mitsubishi Alliance coking coal mines in the northeastern state of Queensland. BHP plans to switch its diesel trucks to battery-powered vehicles, but this will take some time and also involves more than just buying new equipment. The overall message from BHP is that it is advancing plans to reduce its Scope 1 and 2 emissions.

Persons: Clarence Fernandez Organizations: BHP Group, BHP, BHP Mitsubishi, Reuters, Thomson Locations: LAUNCESTON, Australia, Western Australia, Queensland

LAUNCESTON, Australia, June 26 (Reuters) - The extraordinary events in Russia this weekend made for dramatic headlines and the ramifications are likely far from over, but the immediate impact on global crude oil markets is likely to be limited. What is somewhat more certain is that there is no direct threat to Russia's crude oil industry and no reason to believe that shipments from the world's second-largest exporter of the fuel are in any danger. While there appears little imminent threat to Russia's exports of crude oil and refined products, the weekend unrest does raise concerns over the medium and longer terms. Russia's crude oil exports are expected to dip in June, but this is largely the impact of Moscow's earlier announcement of a voluntary 500,000 barrels per day (bpd) additional cut to output. But a wounded and weakened Putin is one more thing the global oil market now has to worry about.

Persons: Vladimir Putin, Wagner, Alexander Lukashenko, Putin, Yevgeny Prigozhin, midmorning, Sonali Paul Organizations: Brent, Refinitiv Oil Research, Reuters, Thomson Locations: LAUNCESTON, Australia, Russia, Belarus, midmorning Sydney, OPEC, Moscow, Saudi Arabia

LAUNCESTON, Australia, June 22 (Reuters) - Commodities had a mixed reaction to the latest stimulus measures aimed at boosting the Chinese economy's stuttering post-pandemic recovery. Still, iron ore imports have remained fairly steady in recent months. Commodity analysts Kpler estimated that arrivals in June would be in the order of 98.73 million metric tons, which would be slightly higher than the official customs figure for May of 96.17 million tons. OIL GAINSIn contrast to iron ore's lacklustre response to China's latest stimulus measures, crude oil and copper performed better. Asia's crude oil imports are expected to remain robust in June.

Persons: Lim Boon Heng, LPR, Simon Cameron, Moore Organizations: Commodities, Xinhua, Brent, U.S, . Federal, Refinitiv Oil Research, Shanghai, Reuters, Thomson Locations: LAUNCESTON, Australia, Singapore, Beijing, China, May's, India, South Korea

THIS IMAGE MAY OFFEND OR DISTURB Swimmers wade into the chilly Derwent River, in Hobart, Australia, June 22 2023. A 2017 show by Austrian artist Hermann Nitsch featuring an animal carcass and rivers of blood outraged animal rights groups. In an Australian exclusive, famed Austrian choreographer Florentina Holzinger retold Dante’s “Divine Comedy” in a two-hour all-female performance of sex and blood. In one scene, 20 nude dancers wet with paint and human blood writhed slowly across a blank canvas, painting with their bodies. Founded on the fortune of professional gambler David Walsh, Australia's largest private museum is dedicated to themes of sex and death.

Persons: Helen Golding, Hermann Nitsch, Florentina Holzinger, Dante’s, Ryoji Ikeda, David Walsh, Lewis Jackson, Lincoln Organizations: REUTERS, Police, city’s Museum of, Thomson Locations: Hobart , Australia, Handout, REUTERS HOBART, Australia, Hobart, Tasmania, Sri Lanka, Sydney, Austrian, Australia's

☆ Travel experiences you can only enjoy while you’re young
▼ + stars: | 2023-06-21 | by ( Francesca Street | ) edition.cnn.com time to read: +11 min

But if you’re still in your teens or 20s, it’s worth knowing about some of the amazing discounts, experiences and adventures only available to those under 30. From discount air fares to working vacation visas, we’ve rounded up some of the best travel experiences to enjoy while you’re young. “It’s 100% worth using the pass whilst you can get the youth discount,” Landon tells CNN Travel. Thurman absentmindedly Googled working working holiday visas, and to her surprise, realized the scheme “was so straightforward to apply for.”“I realized that the only barrier was me and my decision whether or not to apply,” Thurman recalls. If you’re not enrolled in college but you’re still under 30, the International Youth Travel Card could be an alternative.

Persons: CNN —, you’re, There’s, Kofi Landon, Kofi Landon Kofi Landon, Landon, he’d, Landon reckons, ” Landon, “, ”, Tammy Thurman, don’t, –, jetted, Thurman enviously, Thurman absentmindedly, ” “, ” Thurman, Thurman, it’s, she’s, who’s, you’ve, doesn’t, Markus Mainka, Gideon Hagström Lung, He’s, Hagström Lung, Lung Organizations: CNN, EU, Travelers, CNN Travel, Canada, Walt Disney World, Cathay Pacific, Eiffel, SAS, Emirates, Scandinavian Airlines Locations: Europe, Paris, Berlin, Venice, there’s, Prague, Czech Republic, Manchester, Lake Bled, Slovenia, Australia, Tasmania, South Korea, Portugal, Iceland, Canada, France, Ireland, Sydney, London, Melbourne, Emirates, Florence’s Uffizi, Helsinki, Finland, New York City, New York, Stockholm, Copenhagen

LAUNCESTON, Australia, June 20 (Reuters) - Seaborne thermal coal prices in Asia have slumped to the lowest in two years as weakening demand in Europe and falling liquefied natural gas (LNG) prices outweigh strong demand in the top-importing region. Thermal coal imports for Asia, Europe vs Newcastle Index priceEUROPEAN INFLUENCEEurope is also having an impact on Asian seaborne thermal coal prices as demand in Europe drops, which in turn sees regional swing suppliers such as South Africa pivot back to Asia. However, Asia is on track to import nearly 4 million metric tons from South Africa in June, up from the 2.28 million that arrived in December. Asia's total imports of seaborne thermal coal are expected by Kpler to be 76.49 million metric tons in June, down from May's 80.01 million. It's clear that lack of demand isn't driving down Asian coal prices, rather it's cheaper spot LNG prices and the diversion of coal from Europe that are the main factors.

Persons: globalCOAL, It's, Kpler, Sonali Paul Organizations: Indonesia, LNG, Argus, Japan, Newcastle, Atlantic, Reuters, Thomson Locations: LAUNCESTON, Australia, Asia, Europe, China, India, Russian, Ukraine, Japan, South Korea, Taiwan, South Africa, U.S, May's

LAUNCESTON, Australia, June 19 (Reuters) - China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing. This was up 15.4% from the same month in 2022, and was the second-highest monthly total, eclipsed only by the 14.91 million bpd from March. The volume of crude available to refiners was 16.37 million bpd, consisting of imports of 12.11 million bpd and domestic output of 4.26 million bpd. It's worth noting that for the first five months of 2023 China's crude oil imports are up 6.2% to the equivalent of 11.13 million bpd. If the flows into storage and the rise in product exports are factored in, suddenly the increase in China's crude oil imports doesn't look quite as bullish as it may first appear.

Persons: China doesn't, It's, Jamie Freed Organizations: National Bureau of Statistics, OPEC, Saudi Aramco, Reuters, Thomson Locations: LAUNCESTON, Australia, China, OPEC, Russia, Iran, Venezuela, Saudi Arabia, Saudi

The hope can be seen in the domestic iron ore price, with contracts on the Dalian Commodity Exchange outperforming Singapore futures. There are also some fundamental supports for the iron ore price, most noticeably declining inventories at China's ports. In the same week last year, inventories were at 128.3 million metric tonnes, or 1.6% above the current level. China iron ore imports vs SGX price:SOFT ECONOMIC DATACountering the positive indicators for iron ore demand is a raft of underwhelming economic data that shows China's rebound after ending its strict zero-COVID policy in December has been uneven. The weak data may actually boost iron ore sentiment, as investors will expect further stimulus measures from Beijing.

Persons: SteelHome, Gerry Doyle Organizations: Dalian, Exchange, China Iron and Steel Association, National Bureau of Statistics, Retail, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Beijing, Singapore, Dalian, April's

The International Energy Agency's (IEA) medium-term oil market report, released on Wednesday, forecast that Asia, and particularly China, was the engine of crude oil and refined product demand growth up until 2028. The report highlights that this presents both opportunities and risks for the global oil and product markets. The main risk is that the world's reliance on China's exports of refined fuels increases, but China's exports aren't determined by market imperatives. The IEA said China had about 3 million barrels per day (bpd) of unused refining capacity at the beginning of 2023. The IEA said its forecast for global product balances over the 2022-28 period is "heavily dependent on higher Chinese product exports, especially for diesel".

Persons: Clyde Russell, Tom Hogue Organizations: Energy, Beijing, IEA, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Asia, CHINA, Asia skyrocketing, Singapore, Russia, Ukraine

Another factor that several conference participants identified as vital is that the projects must have customers signed up before FIDs are made. GREEN METHANOLMethanol is shaping up as having the best potential for Tasmanian hydrogen projects, since it can be used to decarbonise shipping, one of the sectors deemed hardest to shift away from fossil fuels. Methanol in Tasmania would be made from combining green hydrogen with wood waste or wood chips. The state-owned grid operator, TasNetworks, needs to build some new transmission lines and refurbish others to meet the additional electricity requirements. And finally, some wind power projects need also to get to FID, with the 1,000-MW Bass Offshore Wind Energy project now looking set to be the first cab off the rank.

Persons: ABEL, Marinus Organizations: Tasmanian Energy Development Conference, FIDs, ABEL Energy, Hydro, Energy, Reuters, Thomson Locations: LAUNCESTON, Australia, Australia's, Tasmania, Devonport, Bell, Tasmanian, Hydro Tasmania, Victoria, FID

☆ Australia to triple size of Macquarie Island Marine Park to protected area larger than Germany
▼ + stars: | 2023-06-05 | by ( Helen Regan | ) edition.cnn.com time to read: +3 min

CNN —Australia plans to triple the size of an ecologically important marine park and close off an area larger than Germany to fishing and mining, the government announced Monday, protecting millions of vulnerable seabirds and animals. The remote Macquarie Island Marine Park, located off Australia’s southeastern coast between Tasmania and Antarctica in the Southern Ocean, is set to expand to 475,465 square kilometers (about 184,000 square miles). The wind-swept World Heritage-listed Macquarie Island and its surrounding waters is a site of outstanding geological and natural significance. The plan to expand the marine park was released in February and Monday’s announcement comes after two months of public consultations with more than 14,700 submissions that were 99% in support, according to the government. Darren Kindleysides, chief executive of the Australian Marine Conservation Society, said sanctuaries are vital for marine wildlife, healthy ocean ecosystems and sustainable commercial fisheries.

Persons: Tanya Plibersek, ”, Fiona Maxwell, “, Darren Kindleysides Organizations: CNN, Pew, Albanese Government, UNESCO, Heritage, Australian Marine Conservation Society Locations: Australia, Germany, Macquarie, Tasmania, Antarctica

These comments represent just one of the contradictions in the current oil market. The desire for a stable oil market is extremely difficult to reconcile with being unpredictable. But the risk is that the increase isn't sustained, largely as a result of another oil market contradiction. It's another contradiction for the oil market to resolve as those three exporters are all under some form of Western sanctions. It may well be the case that the second half of this year sees a huge pick-up in crude oil demand.

Persons: Prince Abdulaziz bin, Brent, Sonali Paul Organizations: Organization of, Petroleum, Saudi Energy, Brent, International Energy Agency, SECOND, Saudi Aramco, Aramco, Reuters, Thomson Locations: LAUNCESTON, Australia, Saudi, OPEC, Vienna, Russia, China, India, Saudi Arabia

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