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Oil steady as smaller-than-expected US stock draw counters Libya supply disruption
Oil prices remained mostly steady, impacted by a smaller-than-expected draw in U.S. crude inventories and concerns over China demand amid supply disruptions from Libya. U.S. crude inventories fell by 846,000 barrels, less than forecasted. Supply disruptions in Libya have significantly reduced output, adding to market uncertainties.
US announces new sanctions on Israeli settlers over violence
The United States has imposed new sanctions on Israeli settlers in the West Bank due to violence against Palestinians, urging Israel to ensure accountability. This announcement coincided with Israel's large-scale attack on the West Bank that resulted in the death of nine Palestinian fighters. The US highlighted the importance of tackling extremist violence for regional peace and stability.
West Bengal government opposes bandh call, says life will remain normal
On August 28, the West Bengal government asserted that life would continue as usual despite the BJP's call for a Bengal Bandh. The government condemned the bandh that has been called to protest against police actions against protestors. The state government promised normal transport services. Leader of Opposition, Suvendu Adhikari, accused the police of brutality towards peaceful demonstrators and threatened to disrupt the state if such actions persist.
US presidential polls aren't just between Donald Trump and Kamala Harris — here's who else is in the race
Kamala Harris and Donald Trump are the main candidates in the US presidential election, with independents Jill Stein, Cornel West, and Chase Oliver also participating. Stein advocates for economic rights, West supports public healthcare and military cuts, while Oliver focuses on budgeting and ending military support overseas.
Police say no to students' march demanding WB CM Mamata Banerjee's resignation
The West Bengal Police have rejected a proposal for a 'Nabanna Abhijan' march by a student outfit demanding the resignation of the West Bengal chief minister in connection with a rape and murder case. Police deemed the march illegal due to potential miscreants planning to cause trouble. Despite claims of informing the police, the student representatives were warned of potential disruptions during the march. The police suspect political motives behind the event, cautioning against violence and urging students to prioritise their exams.
Oil prices pause after surging on Libyan outages, Middle East tensions
Oil prices saw a minor decline in Asian trading after rising over 7% due to supply concerns linked to Middle East tensions and Libyan oil field closures. Brent crude and WTI futures both fell. The market had reacted to potential disruptions from Israel-Hezbollah clashes and Libya halting oil production amid political disputes.
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Anthony Fauci, former top US disease expert, was hospitalized with West Nile virus and is now recovering at home: Spokesperson
West Nile virus is commonly spread through the bite of an infected mosquito. While most people don't experience symptoms, about 1 in 5 can develop a fever, headache, body aches, vomiting, diarrhea, or rash, according to the Centers for Disease Control and Prevention. About 1 out of 150 infected people develop a serious, sometimes fatal, illness.
US government's face during Covid Anthony Fauci hospitalized after West Nile virus infection. Check symptoms, health update
Anthony Fauci has been infected by West Nile virus. The former White House medical adviser was hospitalized.
Kolkata horror: In letter to PM Modi, Mamata requests 'stringent central legislation' to combat hate-crimes against women
West Bengal Chief Minister Mamata Banerjee has urged Prime Minister Modi to introduce central legislation to combat increasing rape cases. She highlighted the alarming frequency of such crimes and advocated for fast-track special courts for quick justice. The letter stresses the duty of lawmakers to ensure women's safety through stringent measures.
Oil prices down on swelling US crude stocks, easing Middle East tensions
Oil prices declined on Wednesday owing to rising U.S. crude inventories and lessened Middle East tensions following mediation efforts. Brent crude fell to $77.11 per barrel, and U.S. West Texas Intermediate to $73.07. Crude stocks increased by 347,000 barrels, while gasoline and distillate stocks saw reductions. Economic issues in China also influenced the market.
Oil prices ease on China demand fears, focus on Mideast talks
Oil prices fell in early Asian trading on Monday amid fears of lower demand from China. Brent crude and U.S. West Texas Intermediate futures both dropped by 0.2%. Investors are closely watching ceasefire talks in the Middle East, which could ease supply concerns.
PM Modi stresses need for de-escalation in West Asia in call with Netanyahu
A statement from the Israeli PMO reads: "On behalf of the State of Israel, I extend heartfelt congratulations to Narendra Modi and the people of India on your 78th Independence Day! May our close relations flourish and bring prosperity to both our nations". The phone call comes amid heightened tensions between Iran and Israel following killing of Hamas leader Ismail Haniyeh in Tehran.
Oil strengthens as fall estimated in US crude inventories
Oil prices increased on Wednesday as U.S. crude and gasoline inventories fell, reflecting higher demand. Brent crude reached $80.99 per barrel, while U.S. West Texas Intermediate climbed to $78.73. API data highlighted shrinking stocks. The situation was further influenced by potential conflicts in the Middle East, which could disrupt global oil supplies.
US bolsters military presence in West Asia as UK, France, Germany warn Iran against Israel aggression
The United States is enhancing its military presence in West Asia by deploying an additional guided missile submarine, amid rising regional tensions. This move coincides with a joint statement by the UK, France, and Germany on August 12, commending the efforts of Qatar, Egypt, and the US in brokering a ceasefire and securing the release of hostages. The leaders of these nations emphasized the importance of de-escalation and urged Iran and its allies to refrain from actions that could escalate tensions further. The situation remains highly volatile, with continued international calls for stability.
US recession risk: Finmin steps up West Asia vigil, sees no big risk yet
The finance ministry has been monitoring the recent West Asian conflict due to concerns over its potential impact on oil prices, capital flows, and shipping costs. Officials asserted that India's solid economic position would cushion against serious impacts. The larger concern was a potential US recession. Markets saw declines in Indian stocks and a drop in the rupee's value.
Oil hovers at 8-month lows as U.S. recession fears offset Mideast tensions
Oil prices dropped to their lowest in eight months amid fears of a U.S. recession. Brent crude and U.S. West Texas Intermediate futures saw minor declines. Escalating tensions in the Middle East, including Israeli airstrikes in Gaza, are raising concerns about future crude exports. Recent economic data showing weak global demand also weighed on prices.
US "destroys Houthi missile" in Yemen; UK maritime agency reports attacks on ships
The US military has destroyed an Iranian-backed Houthi cruise missile in Yemen, citing imminent threats to US and coalition forces. Meanwhile, Britain's maritime agency reported missile attacks on two vessels off Yemen, with one sustaining minor damage. These events come amid escalating tensions in the West Asia region following recent high-profile assassinations and ongoing Houthi attacks on shipping routes. The US is increasing its military presence in response to these developments.
Oil edges up on strong US GDP data but Asia economic woes limit gains
Oil prices saw minor increases on Friday due to stronger U.S. economic data, raising hopes for higher crude demand. However, economic concerns in China and Japan limited gains. Brent crude rose by 7 cents to $82.44 per barrel, and U.S. West Texas Intermediate increased by 4 cents to $78.32 per barrel.
Oil prices ease on concerns over weak China demand, Mideast ceasefire talks
Oil prices dropped on Thursday due to weak demand in China and anticipated Middle East ceasefire, offsetting gains from lower U.S. inventories the previous day. Brent crude futures fell 0.5%, and U.S. West Texas Intermediate dropped 0.4%. China's sluggish economic growth and reduced U.S. stock markets added to the downward pressure.
Oil prices rise as US crude and fuel inventories seen shrinking
U.S. crude inventories fell for four weeks ending July 19, pushing Brent to $81.47 and WTI to $77.38. API confirmed declines; official data pending. Prices previously hit a six-week low due to Israel-Hamas ceasefire talks. Economic concerns in China also persist, marking the first four-week crude decrease since September 2023.
Oil prices rise as investors look for signs US rate cuts to begin
Oil prices rise as investors await rate cuts, with Brent crude reaching $83.10 a barrel. President Biden withdraws from the race, endorsing Kamala Harris. China's 4.7% economic growth in Q2 impacts oil demand. Updates expected on Fed's interest rate decision and China's economic plans.
US Presidential Election 2024: Who is this four-legged super star at the Republican Party National Convention? Meet Baby Dog
During the ongoing national convention of the Republican Party, there is a super star who is four-legged. Baby Dog is in the news for all the right reasons. She has predicted the result of the upcoming US Presidential Election.
Oil prices tick up as crude, gasoline inventories ease
Oil prices rose as U.S. crude and gasoline stocks fell, with Brent at $85.43 and WTI at $82.47. Influences include U.S. inflation data, Federal Reserve actions, Powell's comments, CPI and PPI reports, OPEC's forecast, Hurricane Beryl impact, economic growth, air travel, rate cut speculation, and interest rates affecting borrowing costs.
Oil settles lower on worries Hurricane Beryl could hit US demand
Oil prices declined as Hurricane Beryl impacted U.S. refinaries, lowering Brent futures to $85.75. Gaza ceasefire hopes eased supply concerns. Texas faced significant damage; Kazakhstan to compensate for OPEC+ excess. China’s imports fell, India’s fuel consumption rose. Analysts, including Gelber and Ritterbusch, noted de-risking. U.S. and UK elections may influence outcomes.
Persistent heat wave in the US expected to shatter new records as it bakes West and swelters in East
A prolonged heat wave is currently affecting the U.S., setting new records across the nation. Dangerous temperatures soaring into the 100s are expected in the West, while the East will remain hot and humid throughout the week, according to forecasters on Sunday. An excessive heat warning, the highest alert from the National Weather Service, is in place for approximately 36 million people, or about 10% of the U.S. population.
Why have U.S. Wildlife officials planned to kill half a million barred owls? Know about the controversy
U.S. wildlife officials plan to use trained shooters to kill barred owls in West Coast forests to save endangered spotted owls. This controversial strategy aims to address the decline of spotted owls caused by the proliferation of barred owls.
Chinese AI market optimistic despite scrutiny from west
The generative AI sector in China has experienced significant expansion, as reported by the United Nations, which notes China has become the leading applicant for patents in AI software, creating a wide range of outputs from illustrations to computer code. However, OpenAI has accused China of using its language models to create content aimed at influencing social media sentiment.
Oil edges lower after industry group reports jump in US stockpiles
Oil prices fell on surprise U.S. stockpile increase, with concerns over weak demand. The U.S. summer driving season and consumer confidence decline contributed to market worries, along with a stronger dollar. Brent crude dropped to $84.82 a barrel.
US military looks for West Africa 'Plan B' after Niger ousting
Air Force General C.Q. Brown, chairman of the Joint Chiefs of Staff, is visiting Africa to explore options for maintaining a U.S. presence in West Africa after Niger decided to expel the U.S. military in favor of partnering with Russia. Brown mentioned opportunities to work with countries in West Africa to possibly relocate capabilities from Niger to other locations. However, replicating the U.S. counter-terrorism presence in Niger seems unlikely. The changing political landscape in the region, with several coups, presents challenges for U.S. strategy. The U.S. is evaluating its goals and relationships in the region amid these changes.
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