Author:

Posted on

Is Crude Oil Attempting A Breakout Ahead of the OPEC+ Meeting?

Published by
ValueWalk

What decision could OPEC and its allies potentially make as we witness an economic slowdown in China, the world’s top importer of crude oil? Energy Market UpdatesCommercial crude oil reserves in the United States unexpectedly rose in the week ended April 29, according to figures released Wednesday by the US Energy Information Administration (EIA). Q1 2022 hedge fund letters, conferences and more US crude inventories have increased by more than 1.3 million barrels, which implies lower demand and could potentially count as a bearish factor for crude oil prices. This comes in addition to the US F… Continue reading “Is Crude Oil Attempting A Breakout Ahead of the OPEC+ Meeting?”

Posted on

China Faces Trouble As The EU Nears Embargo On Russian Oil

Published by
ValueWalk

China is the world’s second-largest consumer and the world’s top importer of crude oil. In the face of adversity, is its economy likely to slow down? Crude oil prices ended slightly higher yesterday after a volatile session, caught between weakening demand in China and the prospect, closer than ever, of a European embargo on Russian oil imports. Q1 2022 hedge fund letters, conferences and more In the economic capital of Shanghai, where more than 25 million inhabitants have been locked up for a month, anyone who tests positive for coronavirus is sent to a quarantine center, even if they are asy… Continue reading “China Faces Trouble As The EU Nears Embargo On Russian Oil”

Posted on

Oil down $1 on China growth worries, while EU weighs Russian crude ban

Published by
Reuters UK

By Sonali Paul MELBOURNE (Reuters) – Oil prices fell on Monday in holiday-sapped trade in Asia as concerns about weak economic growth in China, the world’s top oil importer, outweighed fears of potential supply stress from a looming European Union ban on Russian crude. Brent crude futures fell $1.13, or 1.1%, to $106.01 a barrel at 0511 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1%, to $103.69 a barrel. Markets in Japan, India and across Southeast Asia were closed for public holidays on Monday. Prices fell after China released data on Saturday showing that factory … Continue reading “Oil down $1 on China growth worries, while EU weighs Russian crude ban”

Posted on

Frontex sued for hiding evidence of Libya boat pullbacks

Published by
Al-Araby

Civil rescue organisation Sea-Watch is suing the European Union border force Frontex in the EU’s general court after the agency refused to release documents that shed light on its dealings and coordination on migrants with the Libyan coastguard in the central Mediterranean. “For years, Frontex has used secrecy to protect itself from having to face the consequences of its actions – something that is especially true when it comes to the agency’s operations and its complicity in human rights violations,” said a Sea-Watch statement about the case. The lawsuit revolves around an incident in which a… Continue reading “Frontex sued for hiding evidence of Libya boat pullbacks”

Posted on

Libyan parliament lashes out as Algeria recognises GNU

Published by
Al-Araby

The Libyan House of Representatives has condemned Algeria’s recognition of the Tripoli-based Government of National Unity (GNU) and refusal to acknowledge the competing government in Tobruk. Yusuf al-Akouri, head of foreign affairs for the Tobruk-based House of Representatives, said in a statement published on Saturday that Algeria’s “insistence” in recognising the GNU led by Abdulhamid Dbeibah over the opposing body led by Fathi Bashagha amounted to “an interference in Libya’s sovereign affairs”. “Algeria’s actions deny the autonomy of our elected representatives, and threaten the internal un… Continue reading “Libyan parliament lashes out as Algeria recognises GNU”

Posted on

UN votes to extend Libya mission by three months

Published by
Al-Araby

TheUN Security Council voted unanimously on Friday to extend the UN political mission in Libya for three months, with the United States and Britain accusing Russia of blocking a longer and more substantive mandate that would include promoting reconciliation of the country’s rival governments now claiming power. Russia’s UN Ambassador Vassily Nebenzia said Moscow insisted on a three-month extension to pressure UN Secretary-General Antonio Guterres to urgently appoint a new special representative to head the mission, known as UNSMIL. The former UN special envoy, Jan Kubis, resigned on November 2… Continue reading “UN votes to extend Libya mission by three months”