Connect with us

Business

Oil Mixed, Libyan Supplies Halted As China Prepares to Restart Production

Clayton Lee

Published

on

(C) Reuters.

By Gina Lee

Investing.com — Oil was mixed on Tuesday morning in Asia, with a sudden fall in Libyan supplies adding to concerns about a tight market. Investors also continue to monitor the demand outlook in China, as the city of Shanghai slowly prepares to return to normal after a three-week COVID-19 lockdown.

Brent oil futures inched up 0.10% to $113.27 by 1:30 AM ET (5:30 AM GMT) while WTI futures edged down 0.13% to $107.47. A strengthening dollar, trading at a two-year high, capped gains.

Both Brent and WTI benchmark contracts gained more than 1% during the previous session after Libya said it could not deliver oil from its biggest oil field and shut down another field down due to political protests.

“Outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand,” Kedia Commodities director Ajay Kedia told Reuters.

The situation in Libya comes as fuel demand in China, the second-biggest importer of oil globally, is expected to recover as the city of Shanghai slowly prepares to re-open manufacturing plants. However, with COVID-19 lockdowns still in place in the country, oil prices remain vulnerable to demand shocks.

“For oil prices to take off on a sustainable trajectory, reopening mainland cities is necessary for translating into a sustainable economic rebound that supports oil demand,” SPI Asset Management’s managing director Stephen Innes said in a note.

The Libya outage highlights just how bullishly reactive oil markets have become to supply shocks, he added.

Meanwhile, markets remain on edge due to the possibility of a European Union ban on Russian oil due to the war in Ukraine. In the latest development in the war Russia has reportedly launched a new offensive in the eastern Ukrainian region of Donbas.

“Market sentiment was supported by the Russian minister saying more countries banning Russian oil imports would mean oil prices exceeding historic highs,” ANZ Research analysts said in a note.

Investors now await U.S. crude oil supply from the American Petroleum Institute, due later in the day.

Oil Mixed, Libyan Supplies Halted as China Prepares to Restart Production

Read More

Original Article: investing.com

Business

Alaska’s Murkowski, Peltola Win Reelection in Latest Trump Rebuke

Clayton Lee

Published

on

By

Alaska Republican Lisa Murkowski wins re-election to U.S. Senate By Reuters

Breaking News

‘;

Politics 8 minutes ago (Nov 23, 2022 08:30PM ET)

(C) Reuters. FILE PHOTO: Republican U.S. Senator Lisa Murkowski from Alaska, running for re-election to the U.S. Senate in the 2022 U.S. midterm elections, appears in an undated handout photo received October 5, 2022. Lisa Murkowski/Handout via REUTERS

WASHINGTON (Reuters) -Republican Senator Lisa Murkowski of Alaska has won reelection, defeating Kelly Tshibaka, a former Republican state official who was endorsed by former President Donald Trump, a tabulation carried out by state officials showed on Wednesday.

Murkowski, 65, has represented Alaska in the Senate since 2002 and has built an independent profile as one of the chamber’s few centrists. Her victory is another setback for Trump, who saw several of his preferred candidates defeated in the Nov. 8 midterm elections.

Murkowski defeated Tshibaka after Alaska finished tabulating all ballots in a publicly broadcast session using its new “ranked choice” system, which allows voters to list candidates in order of preference.

In each round of counting, the candidate with the lowest share of votes is eliminated and the ballots which ranked them first are then redistributed. The candidate with a majority of votes after all ballots have been counted wins.

She would have won even under the old system, as she had a slight edge on Tshibaka after the first round of counting.

Murkowski was the first Republican senator to call for Trump’s resignation after his supporters attacked the U.S. Capitol on Jan. 6, 2021, in an attempt to prevent Congress from certifying Democrat Joe Biden’s 2020 election victory. She later voted to impeach him.

She won reelection as a write-in candidate in 2010 after her party nominated a more right-wing contender.

Alaska Republican Lisa Murkowski wins re-election to U.S. Senate

U.S. Justice Department seeking to question Pence in Jan. 6 probe- NYTBy Reuters – Nov 23, 2022

WASHINGTON (Reuters) -The U.S Justice Department is seeking to question former Vice President Mike Pence as a witness in connection with its criminal investigation into former…

Trump rebuffed by judge in New York fraud lawsuit, trial date setBy Reuters – Nov 22, 2022

By Karen Freifeld and Jonathan Stempel NEW YORK (Reuters) – A New York judge has scheduled an October 2023 trial for former U.S. President Donald Trump, three of his adult…

Alex Jones loses bid to slash $50 million Sandy Hook defamation verdictBy Reuters – Nov 22, 2022

By Jack Queen DALLAS (Reuters) – Conspiracy theorist Alex Jones on Tuesday failed in his bid to slash a nearly $50 million defamation verdict against him over his false claims…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Read More

Source Here: investing.com

Continue Reading

Business

Sri Lanka Central Bank Holds Rates Steady, Says Mkt Interest Rates Must Fall

Clayton Lee

Published

on

By

Sri Lanka cenbank holds rates steady as expected amid slowing inflation By Reuters

Breaking News

‘;

Economy 8 minutes ago (Nov 23, 2022 09:31PM ET)

(C) Reuters. FILE PHOTO: People walk past the main entrance of the Sri Lanka’s Central Bank in Colombo, Sri Lanka March 24, 2017. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) – Sri Lanka’s central bank held rates on Thursday, adding it expects a moderation in market interest rates in line with the prevailing policy interest rates.

The Standing Lending Facility rate was held steady at 15.50% while the Standing Deposit Facility Rate was kept unchanged at 14.50%.

“The Board was of the view that the prevailing tight monetary policy stance is necessary to rein in any underlying demand pressures in the economy,” the central banks said in a statement.

Sri Lanka cenbank holds rates steady as expected amid slowing inflation

Dollar slips as risk sentiment improves after Fed minutesBy Reuters – Nov 23, 2022

By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar was broadly weaker on Thursday as investors, encouraged the prospect of a slower pace of interest rate hikes from the…

Brazil’s electoral court rejects Bolsonaro election challengeBy Reuters – Nov 23, 2022

BRASILIA (Reuters) -The head of Brazil’s electoral court Alexandre de Moraes on Wednesday rejected a complaint from President Jair Bolsonaro’s allies to challenge the presidential…

S.Korean central bank hikes rates by 25 bps, slows tightening paceBy Reuters – Nov 23, 2022

By Cynthia Kim and Jihoon Lee SEOUL (Reuters) – South Korea’s central bank raised interest rates by a more modest 25 basis points on Thursday, slowing the pace of policy…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Read More

Article: investing.com

Continue Reading

Business

U.S. FDA Denies Australian Dairy Accelerated Approval to Sell Infant Formula

Clayton Lee

Published

on

U.S. FDA denies Australian Dairy accelerated approval to sell infant formula By Reuters

Breaking News

‘;

World 12 minutes ago (Nov 16, 2022 09:45PM ET)

(Reuters) -Australian Dairy Nutritionals Group said on Thursday its application for accelerated approval to vend the dairy firm’s branded infant formula in the United States has not been accepted by the country’s Food and Drug Administration (FDA).

Antipodean dairy companies have been queuing up for necessary approvals since May after the United States faced a nationwide shortage of baby food.

The FDA’s temporary approval process was only available until Nov. 14, but the dairy firm can now apply for registration via a normal process to sell the infant milk formula products, it said.

“We are advanced in preparing our toddler milk – stage 3 – for launch in the United States next year,” it added.

New Zealand’s a2 Milk Co earlier this month received approval to export infant milk formula to the United States.

U.S. FDA denies Australian Dairy accelerated approval to sell infant formula

Democrat Bass wins race for Los Angeles mayor, defeating CarusoBy Reuters – Nov 16, 2022

By Dan Whitcomb LOS ANGELES (Reuters) – Karen Bass, a Democratic U.S. congresswoman, was projected on Wednesday to beat Rick Caruso in the race for Los Angeles mayor, becoming the…

Ukraine conflict intensifies in east; NATO, Poland say missile likely not from RussiaBy Reuters – Nov 16, 2022

By Dan Peleschuk, Anna Jaworska-Guidotti and Sabine Siebold KYIV/PRZEWODOW, Poland/BRUSSELS (Reuters) -Ukraine said it faced fierce fighting in the east from Russian troops that…

North Korea vows ‘fiercer’ military responses to U.S., alliesBy Reuters – Nov 16, 2022

By Hyonhee Shin SEOUL (Reuters) -North Korea warned on Thursday of “fiercer military responses” to U.S. efforts to boost its security presence in the region with its allies, state…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Read More

Continue Reading

Trending

NewsW3.com