Oil Prices Slip As Crude Inventories Jump
Crude oil prices fell slightly today after the Energy Information Administration reported inventories had risen by 8.5 million barrels in the week to May 6. This compared with an inventory Continue Reading
Study finds cleaner air leads to more Atlantic hurricanes
Cleaner air in United States and Europe is brewing more Atlantic hurricanes , a new U.S. government study found . The National Oceanic and Atmospheric Administration study links changes in Continue Reading
In U-turn, IEA sees world weathering lost Russian oil supply
The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted Continue Reading
Global Covid-19 Summit upstaged by Ukraine war, inflation
When the United States brought world leaders together last year to discuss how to end the pandemic, President Biden emphasized the historic scale of the problem. “This is an all-hands-on-deck crisis,” Continue Reading
Libya Eyes Offshore Oil Expansion Amid Onshore Force Majeure
Libya is planning to push a key offshore oil and gas project led by Italian Eni and Libya’s National Oil Company (NOC) in a move that could shift some oil Continue Reading
Production, logistical concerns cast shadow over India’s wheat export potential
Traders see output falling to 105 million-106 million mt in MY 2022-23 MY 2022-23 exports seen declining to 7 million-8 million mt Export prices rise on concerns over supply tightness, Continue Reading
Panama Canal Authority suspends Neopanamax locks 49.5-foot draft restriction
The suspended draft allows fully-laden Suezmax transits 50-foot maximum permits Neopanamax container ship transits Southbound transit waiting times for Supers at eight days The 49.5-foot draft restriction for the Neopanamax Continue Reading
North Korea confirms 1st COVID outbreak, Kim orders lockdown
North Korea imposed a nationwide lockdown Thursday to control its first acknowledged COVID-19 outbreak after holding for more than two years to a widely doubted claim of a perfect record-keeping Continue Reading
China’s Economic Slowdown Is Rippling All Around the World
China’s lockdowns could cost the company between $4 billion and $8 billion in lost sales. For decades, the world has depended on China as a massive factory floor and market. Continue Reading
Unvaccinated North Korea Locks Down After Reporting First Local Covid Infection
North Korea, which hasn’t vaccinated its population, imposed a lockdown in all its major cities after it reported its first local case of Covid-19 more than two years after the Continue Reading