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On October 19th, the Iranian Islamic Revolutionary Guard Corps Navy released a video stating that an oil tanker illegally entered the waters south of the Strait of Hormuz, striking a mine and causing an explosion and fire in the engine room. The tanker had originally planned to leave the Strait of Hormuz, but had shut down all positioning and navigation systems from the start of its voyage, ignoring navigation regulations and attempting to pass through an unauthorized channel in the southern part of the strait, ultimately leading to the accident. Any vessel navigating the Strait of Hormuz and the Persian Gulf that disables its navigation and identification systems will face severe and resolute consequences.After Anthropic pledged to donate 5% of its shares to a new charitable foundation, Musk suggested distributing the shares directly to the public.October 19 - According to sources from the Houthi rebels in Yemen on the 18th, a Saudi airstrike on a house in Saada province, which is controlled by the Houthis, killed nine people and injured 11 others, including women and children.On October 19th, Ukrainian President Volodymyr Zelenskyy accused US President Donald Trump of attempting to pressure Kyiv to surrender to Russia, further escalating the week-long dispute between the two sides. Zelenskyy also proposed a quid pro quo: agreeing to Trumps demand to cease attacks on Russian oil refineries in exchange for more Patriot air defense missiles. He stated, "We dont attack Russian diesel, and you give us Patriot missile systems to protect our facilities. But they only want us to stop attacking diesel. If we do that, they will cut us off in some way." Zelenskyy also listed a series of unfriendly actions by Washington towards Kyiv, including deliberately slowing down the Starlink network speed, which is crucial to the Ukrainian military, and delaying the delivery of already scarce Patriot interceptor missiles. "I think they have taken some steps to persuade Ukraine to surrender," Zelenskyy said. "I dont want to believe that our American partners think that the war against Russia can be ended faster at the expense of Ukraine. But it looks like that."Saudi civil defense officials said the danger alert for Abha has been lifted.

After Soaring in The Previous Session Due to Russia's Sanctions, The Price of Oil Declines

Aria Thomas

May 12, 2022 09:37

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Oil prices declined in early Asian trading on Thursday, taking a breather after gaining more than 5 percent in the previous session in response to fresh Russian sanctions against some European gas firms.


On Wednesday, Russia sanctioned 31 enterprises located in nations that placed sanctions on Moscow during the February invasion of Ukraine.


At the same time, Russian gas flows to Europe via Ukraine decreased by a quarter, causing market concern. It was the first time since the invasion when exports via Ukraine were interrupted.


At 00:13 GMT, Brent crude futures decreased 9 cents to $107.42 a barrel. WTI crude prices dropped 13 cents per barrel to $105.58.


As a result of supply concerns following Russia's invasion of Ukraine in February, prices have climbed by roughly 35 percent so far this year.


The European Union continues to negotiate an embargo on Russian oil, which analysts say will tighten the market more and alter trade flows. The vote requires unanimity, but it has been delayed due to Hungary's staunch resistance.


As a result of China's efforts to stop the spread of coronavirus, fears of a decline in demand have curbed price increases.


Stephen Innes, managing partner of SPI Asset Management, predicts that oil prices will be capped in the near future unless China provides substantial policy support or policymakers embrace a different strategy to COVID, both of which seem highly improbable.

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