Chinese President Xi Jinping said Tuesday, November 29, that China is ready to forge a closer partnership with Russia on energy issues to ensure global energy security, while the Group of Seven major countries are preparing to impose new measures on Russian oil exports. “China is ready to work with …
Read More »Russian oil supplies to China jump 16% in October and come in second place after Saudi Arabia
Chinese oil imports from Russia jumped 16% year-on-year in October, making it second only to Saudi Arabia, Beijing’s biggest supplier, as state firms fill warehouses ahead of a European embargo over the Russia-Ukraine war. Data from China’s General Administration of Customs showed Sunday, November 20, that supplies from Russia, including …
Read More »China’s producer prices contracted for the first time in two years
According to official data, China’s producer price index deflated for the first time since 2020, affected by lower iron and steel prices. The Producer Price Index, which measures the prices of raw materials and other input costs, shrank 1.3% in October from a year ago, a Reuters poll showed, slightly …
Read More »Oil is heading to record weekly gains, and uncertainty about demand limits the rise
Oil prices rose slightly on Friday, with crude contracts heading towards recording weekly gains as recession fears eased, but uncertainty regarding the outlook for demand limited the gains. By 0736 GMT, Brent crude futures rose 23 cents, or 0.2 percent, to $99.83 a barrel. West Texas Intermediate crude futures were …
Read More »Oil steadies after IEA raises demand growth forecast
Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …
Read More »Oil falls on Druzhba pipeline news, US inflation expectations
Oil prices fell on Wednesday, amid expectations that flows will resume through the Druzhba pipeline soon, and concerns about demand ahead of the release of major indicators regarding it. Brent crude futures were down 73 cents, or 0.76 percent, at $95.58 a barrel by 0928 GMT. US West Texas Intermediate …
Read More »Oil ends lower amid EU-Russia tensions
Oil futures ended session lower on Tuesday after attempts to make gains due to the energy related row between Moscow and Brussels. The row referred to above was to give a push to oil, but US futures settled down at the end of today’s session because of inflation fears a …
Read More »State media: Chinese military begins “strategic” exercises on Taiwan
The People’s Republic of China decided to impose trade sanctions against Taiwan – as it had done against Australia – and targeted the island’s industrial sector, which enjoys political independence despite being a part of China. The General Administration of Customs of China suddenly announced the suspension of imports of …
Read More »China bans imports of more than 100 Taiwanese food manufacturers
The People’s Republic of China decided to impose trade sanctions against Taiwan – as it had done against Australia – and targeted the island’s industrial sector, which enjoys political independence despite being a part of China. The General Administration of Customs of China suddenly announced the suspension of imports of …
Read More »Taiwan prepares for emergency amid China’s threats
Taiwan’s Ministry of Defense said in a statement Tuesday that it is fully aware of the military exercises of China’s forces near the island’s coast, and that Taiwan is determined, capable and confident in its capabilities to protect its territory in case of emergency or any threats. This comes after …
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