Looking to take advantage of export demand and refining margins to offset weak domestic consumption, Chinese refiners could export a record-high volume of transportation fuels this month as they also seek to use up the export quotas allocated by the government. Chinese exports of gasoline, diesel, and jet fuel could reach in December between 6.5 …
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BEIJING (AP) — A rash of COVID-19 cases in schools and businesses were reported by social media users Friday in areas across China after the ruling Communist Party loosened anti-virus rules as it tries to reverse a deepening economic slump. Official data showed a fall in new cases, but those no longer cover big parts …
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“President Brain-Dead Biden on Thursday announced the infusion of nearly $36 billion to shore up a financially troubled union pension plan, (NB: its just a drop in the bucket. it will be the biggest bailouts in US history by the end of the decade) preventing severe cuts to the retirement incomes of more than 350,000 …
Continue reading “US Government to spend $35 billion to BAIL OUT Pension Fund…. its just the start”
China and Saudi Arabia issued a joint statement on Friday following an official visit made by President Xi Jinping to Riyadh, stressing the importance of stability in the global oil markets and confirming deepening bilateral cooperation in this field. Commenting on the war in Ukraine, the two sides urged a peaceful solution to the conflict …
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Dec 8 (Reuters) – Canada’s TC Energy shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade. The cause of the leak, which occurred in Kansas about …
LONDON, Dec 8 (Reuters) – Turkey’s maritime authority said on Thursday it would continue to block the passage of oil tankers that don’t carry appropriate insurance letters, adding that insurance checks on ships in its waters were a “routine procedure”. Ships typically have protection & indemnity (P&I) insurance, which covers third party liability claims including …
Exports dropped 8.7% in November as global economy slows Imports fell more than 10%, the worst result since May 2020 China’s trade plummeted in November to the lowest levels since the early days of the COVID-19 pandemic, according to official figures, underscoring the heavy economic toll of Beijing’s “zero COVID” policies. Imports fell 10.6 percent …
Chinese authorities appeared to bend to the will of the people on Wednesday by easing some of the harshest COVID-19 restrictions, but a new study showed the high price the country will pay if it tries to reopen too fast. Asian macroeconomic advisory firm, Wigram Capital Advisors, is warning of a “winter wave” of COVID …
Brent Oil Erases All 2022 Gains As It Dips Below $80 Brent lost nearly all of the gains it made in 2022, settling below $80 on Tuesday for the first time since early January. The difference between the highest and lowest price at which Brent has traded is $62, the largest range since 2008. The …
LONDON, Dec 6 (Reuters) – Oil prices fell in a volatile market on Tuesday as the U.S. dollar stayed strong and economic uncertainty offset the bullish impact of a price cap placed on Russian oil and the prospects of a demand boost in China. Brent crude futures were down almost $4.00. West Texas …