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May 16th - Starting today, fuel surcharges for domestic routes within China will be increased. The specific rates are: RMB 90 per passenger for routes under 800 kilometers; and RMB 170 per passenger for routes over 800 kilometers. Infants are exempt from the fuel surcharge, and the fuel surcharge for children, disabled veterans, and disabled police officers injured on duty will be reduced by half.California Governor Gavin Newsom: Last year, Trump and Republicans opted to raise Medicare premiums for millions of Americans in the Affordable Care Act (ACA) market. My proposed budget will continue to offer $0 premium Medicare plans for low-income Californians to help clean up the fiscal mess Trump created.Israel Defense Forces: The alarm that just sounded in the Majidal Shams area has been confirmed as a false alarm.1. Ukraines Ministry of Development: Russia attacked a grain terminal at a Ukrainian port, injuring seven people. 2. Russias Ministry of Defense: Russian forces conducted a large-scale offensive against Ukraine from May 12 to 15. 3. The commander of Ukraines drone force stated that Ukrainian drones attacked a Russian oil refinery in the Ryazan region. 4. Irans Foreign Minister confirmed that talks have been held with Russia regarding a proposal to store enriched uranium. 5. Russias Foreign Minister: Russia hopes to end the war with Iran and achieve a sustainable solution. 6. Russias Ministry of Defense: The UAE-mediated exchange of war prisoners between Russia and Ukraine will take place on Friday. 7. According to industry sources and Reuters calculations, Russias seaborne exports of petroleum products fell 9.8% month-on-month in April. 8. Russian State Statistics Service: Russias GDP fell 0.2% year-on-year in the first quarter, compared to a 1% increase in the previous quarter.On May 16, the 11th Review Conference of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) continued at the United Nations Headquarters in New York. China called on relevant nuclear-weapon states to withdraw their overseas-deployed nuclear weapons to their own territories and to avoid new deployments on foreign soil. Regarding nuclear sharing arrangements, China believes that this issue involves nuclear disarmament and should be examined from the perspective of preventing nuclear proliferation. China expressed serious concern about existing nuclear sharing and extended deterrence arrangements and called on relevant nuclear-weapon states to withdraw their overseas-deployed nuclear weapons to their own territories and to avoid new deployments on foreign soil. China also stated that the serious imbalance between the supply and demand of sensitive nuclear materials in certain countries deserves serious attention. The International Atomic Energy Agency (IAEA) needs to strengthen its research and monitoring of related issues to prevent actions that are inconsistent with the NPT.

News Lifts Oil The EU May Cut Off Russian Oil Imports

Charlie Brooks

Apr 15, 2022 09:50

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In April, both contracts posted their first weekly gain. Prices have been the most volatile in recent weeks since June 2020.


According to the New York Times, the European Union is considering a phased-in embargo on Russian oil to provide Germany and other nations time to secure alternative supply.


A phased-in prohibition would compel European purchasers "to seek alternate sources, some of which are being provided in the short term via Strategic Petroleum Reserve releases, but in the future, more supplies from the ground would be necessary," Lipow Oil Associates' Andrew Lipow said in Houston.


The International Energy Agency warned on Wednesday that around 3 million barrels per day of Russian oil might be shut down starting in May as a result of sanctions or importers intentionally avoiding Russian supplies.


According to Reuters, major global trading houses aim to reduce their imports of crude and gasoline from Russia's state-controlled oil corporations in May.


Russia's Energy Ministry said that access to its data on oil and gas production and exports will be restricted.


Trade will remain "a little anxious" while the conflict between Russia and Ukraine raged on and nations considered banning Russian imports, Price Futures Group analyst Phil Flynn said.


"The key issue will be how many individuals want to be oil short heading into the long weekend."


Traders also changed their positions on Thursday, when May crude oil options in the United States expire.


According to industry analysts, US oil production predictions are being revised upward despite labor and supply chain restrictions, as higher prices stimulate additional drilling and well completion activities.


US oil rigs increased by two to 548 this week, the highest level since April 2020, according to energy services company Baker Hughes.


The US Energy Information Administration said on Wednesday that the United States' oil reserves increased by more than 9 million barrels last week, owing in part to strategic reserve releases. According to a Reuters survey, analysts expected just an 863,000-barrel gain.


On the demand side, Chinese refiners are set to reduce crude throughput by about 6% this month, a level last seen in the early days of the COVID-19 pandemic two years ago, industry sources and analysts said. The move is intended to relieve pressure on bulging fuel inventories following recent lockdowns.

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