„Because a mutual return to compliance with the JCPOA is very much an uncertain proposition, we are now preparing equally for either scenario,“ Department spokesperson Ned Price said in a briefing.
India relies on Russian-made weapons, Israel needs Russia’s cooperation to strike inside Syria and Gulf Arab states look to Russia to help manage the oil market.
The U.S. has given Russia “written guarantees” that sanctions imposed over the invasion of Ukraine won’t affect its nuclear supply agreements with Iran, clearing the way for a resumption of talks to revive the 2015 atomic accord. Oil prices fell.
Published Mon, Mar 14 202211:14 AM EDT
U.S. oil tumbled on Monday, breaking below $100 per barrel, amid talks between Russia and Ukraine as well as new Covid-19 lockdowns in China.
Speaking to MPs in the Commons this morning, the Chancellor announced a £9bn support package of loans and tax relief, including a £200 energy rebate for every British household in October.
It comes as the energy regulator confirmed this morning that the price cap on energy bills for 22m households will jump by 54 per cent from April to about £2,000 a year because of soaring gas costs.
This is partly to do with the pandemic but is being compounded by Brexit, according to international policy forum the OECD.
However, the Bank of England’s deputy governor Ben Broadbent stated the pandemic is having a greater impact on labour shortages than Brexit currently.
Food prices have increased throughout the country with the Labor Department after the global supply chain bottleneck, among many other issues, drove inflation rates to the highest it’s been in three decades.
(October 19, 2021)
Some Chinese fertilizer cargoes ready to be shipped are being held up by local authorities for additional checks or to obtain new export certificates, according to people familiar with the matter. The supplies will either end up being sold on the domestic market or face delays in being exported, said the people, who asked not to be named as they are not authorized to speak on the matter.
(Sept 28, 2021)
“We’re in a trade war,” Ezinga said. “You’ve got a supply-restricted market today. Ten to 12 years ago, you had a demand-led market with some supply constraints. Logistics is a mess, but I feel pretty comfortable that we’re going to have the supply in the U.S. It’s just — at what price?”
(Oct 25, 2021)
Rebounding global oil consumption amid tight supply—contrary to some forecasts last year that indicate demand may have peaked or was close to its peak—as well as years of underinvestment in new supply following the 2015 crash, have prompted Wall Street banks to raise significantly their projections for oil prices in the short and medium term.
Oil prices have hit multi-year highs in recent days, with WTI Crude at its highest since 2014 and Brent Crude at the highest level since October 2018.
„We don’t take things for granted, we still have COVID,“ Saudi Arabia’s energy minister and de facto leader of the OPEC+ group of major oil exporters said in a television interview on Saturday. „We are not yet out of the woods,“ he said. „We need to be careful. The crisis is contained but is not necessarily over.“
(Oct 19, 2021)
Global food prices shot up nearly 33 percent in September compared with the same period the year before. That’s according to the UN Food and Agriculture Organization (FAO)‘s monthly Food Price Index, which also found that global prices have risen by more than three percent since July, reaching levels not seen since 2011.
Mr Wright said that while there are some shortages on shelves, the UK does have sufficient food.
He added: „We are not going to run out of food but there are some shortages, we have seen some problems with pigs and poultry, with some of these being solved.“
(October 26, 2021)
„It is now clear that the increased costs from labour shortages, supply chain issues and rising commodity prices have started filtering through to the consumer.“
(October 26, 2021)
This year is a different story. Several factors are combining to drive up food prices, including labor shortages, higher transportation costs and supply-chain disruptions.
(4 weeks ago)
As the host of the Cop26 Summit the Government is aware of the weight on its shoulders in not only recalibrating the Western alliance after the turbulent Trump era, but moving things forward in a meaningful way from the 2015 Paris Climate Agreement forged in rather different times. By some measures of modern geopolitics, whether or not Britain can convince China to attend the summit will be the test of its success as the host nation.
Following Mr Putin’s comments on supplies, gas prices dropped to about 257p a therm later on Wednesday.
Deputy prime minister Alexander Novak urged German regulators to quickly certify the Nord Stream 2 pipeline to help.
European gas prices rose by 10%, with price pressure exacerbated by a dwindling supply from Russia.
Supply dropped on Tuesday as the flow of Russian gas via the Yamal-Europe pipeline fell by more than half, the Interfax news agency reported, citing data from the grid operator Gascade.
The situation in the UK, where market prices have quadrupled in the past year, is particularly acute.
“The gap in terms of injecting gas into European [underground gas storage] UGS facilities cannot be closed. Europe is going to enter the autumn/winter period with a gas shortage in its UGS facilities. The question is, how big is the shortage going to be?” the Russian executive said.
“They might even break new records very soon,” Miller said. He went on to note that despite European prices, Asian markets continued to pay a premium. As a result, gas is flowing into Asia.
One root of the problem…
In 2020, COVID-19 become a global pandemic, and lockdowns ensued: factories, restaurants, and shops all closed,bringing global supplychain almost to a halt. In this context, container carriers had no visibility on future demand and did the only reasonable thing: cut capacity.
There is no economic sense in moving half-empty ships across the globe; it is costly, especially for a sector operated on tiny margins for a very long time.The consequence was widespread vessel cancellations, which soared in the first months of 2020 (figure 3).Progressively, more trade lines and ports were involved as containment measures were enacted globally.
At present 10% of global container capacity is waiting to be unloaded on ship atthe anchor outside some por
Along with ongoing Covid-related restrictions in some large manufacturing countries such as Vietnam, and a well-documented shortage of components such as computer chips, factories are simply not producing enough.
British car production dropped by 27% year on year in August as a lack of semiconductors and led to a big drop in the number of vehicles exported to Australia, the US and China. On Thursday, Volkswagen, Ford and Opel maker Stellantis announced fresh temporary closures in Germany because of the chip problem.
It’s only when the ground buckles and snaps in an earthquake that we’re aware that the land had already been moving. Moderate Democrats in Washington must similarly be wondering what happened as they struggle to accept that they are no longer the dominant force in the party.
After years of being relegated to an afterthought and being told that moving too quickly or too far to the left would alienate voters, progressives are firmly in the driver’s seat in Washington.
Sen. Kyrsten Sinema (D-Ariz.) and a handful of House Democrats oppose letting Medicare negotiate prescription drug prices, which would save more than $500 billion over 10 years. (Incidentally, three of the Democrats opposing the idea have received $1.6 million in donations from the pharmaceutical industry.) The New York Times also reports that Sinema “has privately told colleagues she will not accept any corporate or income tax rate increases,” while Manchin remains opposed to the current plan’s proposed corporate tax rate.
His remarks came in response to his Russian counterpart Mikhail Ulyanov’s tweet that hoped after the removal of the sanctions, „Iran will join efforts of OPEC+ to maintain the oil market stability“.
„This would be merely a national decision rather than a decision to be taken through joint efforts,“ Gharibabadi responded.
Lopez Obrador said that the government was making all arrangements to secure gas supply in an emergency situation starting with Mexico City, the Valley, and Pachuca and remarked that the strike does not affect the whole country yet.
Saudi Arabia said some of the world’s most protected oil infrastructure came under missile and drone attack in an escalation of regional hostilities that sent crude prices surging.
The attacks on Sunday were intercepted, Saudi Arabia said, and oil output appeared to be unaffected.
Congressman Doggett has been seeking information from both Secretary Azar and Gilead on remdesivir pricing for almost two months. Neither disclosed the huge taxpayer expenditure that the Trump Administration is making today to purchase remdesivir supplies through September. Copies of related correspondence are available upon request.
Rep. Lloyd Doggett, D-Texas, called the price „outrageous.“
„Without a taxpayer investment of $99 million, this drug would have been abandoned. It would be on the scrap heap of failures,“ he tells NPR. „So it’s the taxpayer who’s really taking the risk here and ought to get the reward of the angel investors that taxpayers are.“
Public Citizen, a nonprofit consumer advocacy group, echoed his remarks with a similar sentiment.
The Trump administration won a court ruling Tuesday upholding its plan to require insurers and hospitals to disclose the actual prices for common tests and procedures in a bid to promote competition and push down costs.
Russian President Vladimir Putin discussed with his U.S. counterpart Donald Trump on April 10 the situation at globals oil markets, and the coronavirus outbreak over phone.
„An exchange of views was held on the situation at the global oil market, including the agreement being worked out within the framework of OPEC on reducing production in order to stabilize world oil prices,“ the Kremlin press service said in a statement.
The U.S. Federal Reserve has hired asset management giant BlackRock to help it execute the purchase of commercial mortgage-backed securities announced this week as part of the central bank’s aggressive efforts to shore up the U.S. economy.
Saudi Arabia escalated the situation further over the weekend. The kingdom slashed its April official selling prices by $6 to $8, according to analysts, in a bid to retake market share and heap pressure on Russia.
The S&P 500 (SPX) fell about 6%. The Dow (INDU) fell as many as 2,046 points. The Nasdaq Composite (COMP) was down 5.4%. The New York Stock Exchange halted trading for 15 minutes after stocks plunged more than 7%. They retraced some of their losses after the market reopened.
Futures for Brent crude, a global benchmark, jumped 2.9% to $68.16 per barrel during Asian trading hours on Friday. US oil futures gained 2.8%, reaching $62.86 per barrel. That puts both on pace right now for their biggest daily gains in about a month, according to Refinitiv data.
He emphasized that people in Iran enjoy the right to protest, referring to remarks by President Hassan Rouhani’s chief of staff in which he stressed that all officials should be listening to the protesters’ views.
“Whenever there is some legitimate and legal protests, the United States, the Mujahedin Khalq Organization (MKO) as well as people outside the country, the opposition, the son of the past shah step forward in order to hijack the protests, in order to stage violent actions and sabotage,” he said.
This entire narrative stinks. Seems to me that Trump’s continued refusal to start a unilateral military attack against Iran (despite implied Saudi urging) has stumped MBS (Saudi Defense Minister), and the whole war scenario now seems to be de-escalating.
Top oil exporter Saudi Arabia has restored capacity to 11.3 million barrels per day after an attack on its processing facilities this month, sources told Reuters last week, although Saudi Aramco has yet to confirm it is fully back online.
„Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes,“ in the event of greater conflict with Iran, Saudi Crown Prince Mohammed bin Salman told CBS 60 Minutes.
The warning comes two weeks after a drone and missile attack on Saudi Arabia’s oil facilities that Riyadh and Washington blame on Iran.
Russia is set to be a major winner after an attack on Saudi Arabian oil facilities slashed production and ramped up tensions in the Middle East, analysts predict.
In a frantic day for the world’s markets, oil prices climbed by almost 15% Monday following the drone attacks on Abqaiq, Saudi Arabia’s largest oil refinery, which pumps around 5% of the world’s oil supply.
On Saturday, before Pompeo’s tweet, the White House said Trump had spoken to Saudi Crown Prince Mohammad bin Salman, “to offer his support for Saudi Arabia’s self-defense”.
Yemen’s Iranian-aligned Houthi rebels claimed credit for the attack, saying they sent 10 drones to strike at important facilities in Saudi Arabia’s oil-rich Eastern Province. The production shutdown amounts to a loss of about five million barrels a day, the people said,…
Oil prices tumbled more than 2 per cent on Wednesday after a report that U.S. President Donald Trump was considering easing sanctions on Iran, which could boost global crude supply at a time of lingering worries about energy demand.
U.S. oil prices dropped more than 2% on Wednesday after Bloomberg News reported that President Donald Trump discussed easing sanctions on Iran in order to reopen negotiations.
WTI crude oil futures fell 2.9% to $55.75 a barrel, while Brent crude fell 2.28% to $60.96 a barrel.
Many of the burning issues that are facing Israel barely got a look-in during the election campaign that’s mercifully drawing to a close: the ballooning deficit, the rising housing prices, the climbing cost of living, the burning need to integrate the ultra-Orthodox and Arab communities into the job market, to name just a few. And then of course, the lack of any prospect for a resolution of the Israeli-Palestinian conflict and an end to the occupation got nary a mention, but you knew that already because you’ve been paying attention and that has become a cliché.
Oil plunged on Friday after China announced new tariffs on U.S. goods, including crude oil.
Helping to support the market are simmering tensions between the United States and Iran, with Iranian President Hassan Rouhani cautioning Washington against tightening pressure on Tehran.
Bank of America Merrill Lynch warns the oil price could slip sharply if China buys Iranian oil.
Beijing could undermine Washington’s foreign policy stance by ignoring U.S. sanctions placed on Iran.
BofA is keeping its $60 per barrel price estimate in place for 2020.
Craig Erlam of City firm OANDA explains:
Oil prices are steady again on Friday, following another spike on Thursday which accompanied a broader rally in the stock market.
Rising tensions in the middle east after Iran shot down a US drone over the Strait of Hormuz will likely have also contributed to the large gains, given that a fifth of all oil production passes through there on a daily basis.
17h ago 21:22
Wall Street closes at record high
Boom! Hopes that US interest rates will be cut next month have sent Wall Street to a new all-time closing high.
Trade unions have called a general strike on 29 May 2019 to oppose austerity measures in Argentina. The Macri government has brought the country to the brink of economic collapse, with workers’ purchasing power decreasing due to high inflation, unemployment, recession and a sharp increase in poverty.
This is the fifth national strike to protest against the Argentinian president, called by different social organizations and the General Confederation of Workers (CGT) union, and it is taking place simultaneously throughout the country.
The General Confederation of Labor (CGT) began a 24 hour general strike at midnight to protest the economic policy of President Mauricio Macri.
Public transport was expected to be paralyzed, including trains, buses, metro and national and international aircraft.
So let us be very clear. It is not the Yellow Vests that are xenophobic and racist, but increasingly large components of the French elite. The elites will not hesitate for a moment, when the post-Macron era comes, to entrust power to the far right if necessary.
That is to say, if their odiously iniquitous capitalist order were really threatened; if the French people, thirsty for justice, their hearts full of renewed hopes, shouting for their joy in regaining their dignity, gathered in revolt and aware of their strength, managed to get back on their feet, to become masters of a collective future of solidarity and progress, then the elite would look to the ultra-right parties as their solution.
L’acte VI des Gilets jaunes en Seine-Maritime est très tendu à Rouen, samedi 22 décembre 2018. Environ un millier de personnes se sont rassemblées dans l’hyper-centre.
In a sense, 2018 is less like 1848 itself and more like the decades that preceded that tumultuous year. These were, in the words of Trygve Tholfsen in his 1977 study of working-class radicalism in the run-up to 1848, ‘hungry decades’ – decades in which disgruntlement and radicalism bristled and grew before exploding in firm demands for change. And though many people were alarmingly poor in these ‘hungry decades’, it wasn’t their ‘immediate deprivation’ that drove them to organise and take action, says Tholfsen; rather, their instinct for revolt was built on ‘solid intellectual foundations’ and it expressed a ‘denial of the legitimacy of the social and political order’.
The protesters had been split Friday on whether to stage another large rally in Paris, or in the nearby town of Versailles, once home to King Louis XVI who lost his head to the revolutionary guillotine.
Fearing possible unrest, authorities said they were closing the Palace of Versailles and its gardens on Saturday.
Local officials said the latest victim, a man aged about 60, was hit by a truck near a motorway where demonstrators had been gathering.
The interior minister said around 69,000 police were active on Saturday with a reinforced presence in the cities of Toulouse, Bordeaux and Saint-Etienne.
A police source told Reuters some 16,000 protesters had been counted in France, excluding Paris, by 11am Irish time, compared to 22,000 at the same time on December 8th.
For today (Friday December 14) and Tuesday December 18, unions called for strikes across several industries, including air traffic control, transport, and education. The call read: “We must act for an immediate increase in salaries, pensions and social protection.”
The unions the FSU, Solidaires, SUD and UNEF have also joined the movement.
Yellow Vest demonstrators began gathering on the Champs-Elysees in Paris on Saturday morning for a fifth weekend of protests in defiance of calls by the French government to stay home.
Huge stop-and-search operations were undertaken to prevent so-called casseurs (violent hooligans) from joining the protests. I was searched six times before I could get anywhere close to the Champs Élysees.
The gilets jaunes who made it through the gauntlet of gendarmes were largely in good spirits when I arrived, at various points chanting ‘Macron resign!’ and singing La Marseillaise.
For years, Berlin watched with growing frustration (bordering on panic) as both Nicolas Sarkozy and François Hollande failed to enact serious reforms in the face of the country’s increasingly difficult economic situation.
Macron knew that to succeed in Europe, he would have to win over Germany and the only way to do that is to fix France. The precipitous decline in his standing at home over the past year, culminating in the “uprising” by the Yellow Jackets, has robbed Macron of the legitimacy he needs on the European stage.
In a long-awaited address on primetime television, the president tried to talk the protesters out of further action, promising a rise in the minimum wage and tax concessions.
In a mea culpa, Macron said he had heard and understood protesters’ anger and indignation, which he said was “deep and in many ways legitimate”.
The minimum wage would increase by €100 per month from 2019, he said.
A planned tax increase for low-income pensioners would be cancelled, overtime pay would no longer be taxed, and employers would be encouraged to pay a tax-free end of year bonus to employees, he added.
However, he refused to reinstate a tax on the wealthy, saying „this would weaken us, we need to create jobs“.
France’s beleaguered President Emmanuel Macron will hold talks with business leaders and trade unions Monday after a fourth weekend of protests that have challenged his grip on power.
Macron, who will also meet political leaders and local officials,
Protests that began last month against planned tax hikes on gas have since morphed into a wider rebuke of Emmanuel Macron’s presidency.
While world leaders gather in Katowice, Poland, for the COP24 climate summit, protesters in the streets of Paris have successfully forced French President Emmanuel Macron’s hand, undercutting his efforts to impose a carbon tax on French energy sales. Macron has made climate change and lowering greenhouse gases a central component of both his domestic and foreign policies, only to face dramatic failure at the hands of his „yellow vest“ countrymen.
It is telling that when the protests were organised, they bypassed France’s organised left entirely, eschewing not just the political parties, but the trade unions, too. The reaction of some on the left suggests they were right to.
Extreme forces are rejoicing over the president’s predicament. Their ultimate goal is a political takeover of the continent
France’s sudden U-turn over an unpopular fuel tax in the face of violent anti-government protests sent shivers through the COP24 climate summit.
That’s because the sight of one of Europe’s most climate ambitious countries beating a hasty retreat over a proposal that would have hiked gasoline tax by 4 cents, or just under 3 percent, highlighted the difficulty of imposing any economic pain in the name of tackling climate change.
Fuel tax rises which have led to weeks of violent protests in France have now been postponed for six months.
The move was announced in a televised address by PM Edouard Philippe, who said anyone would have „to be deaf or blind“ not to hear or see the anger.
High-school students – who have been protesting against changes to colleges and the university system – also seized on the mood of protest and stepped up their blockades.
About 100 high schools were fully or partially blockaded around the country, including in the southern city of Toulouse and in Créteil in the Paris area.
An 80-year-old woman has died after being hit by a tear gas canister at her window during Saturday’s fuel protests in the French city of Marseille.
The woman, who lived in an apartment near to where the protests were taking place, was hit in the face while closing the shutters.
„So Mark Carney,with his crystal ball economics, has claimed house prices will drop 30% due to a no deal Brexit. Well. If true. So what?. Some people can only afford rent and have to rent forever. I am happy to take 30% hit if it creates a fairer society,“ Andy Alexander tweeted .
„At the last election, I left the ballot paper blank. I don’t have confidence in any of the political parties and I don’t see that changing until a party emerges that is more interested in the people than in those with huge fortunes.“
The “Yellow Vest” protests he is a part of present an extraordinary venting of rage and resentment by ordinary working people, aimed at the mounting inequalities that have eroded their lives. The unrest began in response to rising gas taxes and has been building in intensity over the past three weeks, peaking on Saturday.
With little organization and relying mostly on social media, they have moved spontaneously from France’s poor rural regions over the last month to the banks of the Seine, where they have now become impossible to ignore.
(8.11.2018) In total there were around 8.8 million people living below the poverty line in France in 2017. In France this means they are living on an income of less than €1,026 a month, and many of them live on considerably less.
French President Emmanuel Macron on Sunday surveyed the damage from a day of riots across Paris and led crisis talks that ended with a call for further talks with anti-government activists who have staged two weeks of protests.
President Macron struck a conciliatory tone earlier in the week but said he would not abandon his fuel tax. He said it was a key part of France’s future energy strategy to combat global warming ……….
Après des échauffourées près des Champs-Elysées, des heurts s’étendent, dans l’après-midi du samedi 1er décembre, à plusieurs autres quartiers de Paris dans une grande confusion, en marge de la mobilisation des „gilets jaunes“ qui rassemble quelque 75 000 personnes à travers la France, selon le ministère de l’Intérieur. La préfecture de police de Paris dénombre 183 interpellations et au moins 80 blessés, dont 14 membres des forces de l’ordre.