The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices. International oil prices have held above $80 a barrel even after U.S. President Joe…
US to Sell 32 Million bbls From 4 Sites as Part of Strategic Sale
November 25, 2021
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Oil Weakens, Focus on OPEC+ Response to US–Led Crude Release
November 25, 2021
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MELBOURNE/SINGAPORE—Oil prices edged down on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. Brent crude futures slipped 7 cents to $82.18 a barrel at 0726 GMT, after losing 6 cents…
Global Stocks Mixed After Fed Says Ready to Act on Inflation
November 25, 2021
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BEIJING—Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation. London, Tokyo, Frankfurt, and Hong Kong markets advanced, while Shanghai declined. Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for…
Oil Prices Under Pressure From Both Supply and Demand Factors
November 22, 2021
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LONDON—Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1. By 1007 GMT, Brent was up 31…
China’s New Border Law Only Aggravates the Sino-Indian Border Dispute
Commentary On Oct. 23, China’s top decision-making body voted to adopt a new law on the protection and exploitation of the country’s land border areas. The law will go into effect on Jan. 1, 2022. Being the first of its kind, the timing of China’s enactment of such a legislation is significant, and it is…
India Police Charge Amazon Execs in Alleged Marijuana Smuggling Case
LUCKNOW, India—Indian police said on Saturday they had charged senior executives of Amazon.com‘s local unit under narcotics laws in a case of alleged marijuana smuggling via the online retailer. Police in the central Madhya Pradesh state arrested two men with 20 kg (44 lb) of marijuana on Nov. 14 and found they were using the…
Heavy Rains in Southern Indian State Kill 17, Dozens Missing
HYDERABAD, India—At least 17 people have died and dozens are reported missing in the southern Indian state of Andhra Pradesh after days of heavy rains, authorities said Saturday. The state has been hit by intense torrents since Thursday, sparking massive floods in at least five districts. The death toll rose to 17 late Friday night…
India Rocked by Pegasus Spyware Accusations Against Government
India’s Supreme Court decision to investigate the allegations of “unlawful” and “unauthorized” surveillance of its citizens using Israeli spyware has Prime Minister Narendra Modi’s government under fire. According to the court order, it’s alleged that the Pegasus spyware—created by Israeli technology firm NSO Group—was used to hack hundreds of phones in India, including those owned…
India’s Modi Pledges To Repeal Controversial Farm Laws
Indian Prime Minister Narendra Modi apologized to people over three controversial farm laws that have sparked a year-long protest by farmers, pledging that the government would abolish the laws during the next session of Parliament. The government has failed to convince farmers to accept the farm laws, Modi said in his nationally-televised address on Nov….
Historical Ruins of Ancient City in India Need Preservation: Expert
JAMMU, India—An undated historical Himalayan site of ritualistic bath spaces and built springs, abandoned on an ancient trade route to India is at the peril of getting lost forever if the government of India doesn’t pay attention. The picturesque village of Gurnal, the site of ritualistic bath spaces and of hundreds of ancient springs called…
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