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Reserve Bank of Australia Governor Bullock will appear at a hearing in ten minutes; Japans August core CPI annual rate will be released in ten minutes.September 18th - According to officials from both the Yemeni government forces and the Houthi rebels on the 17th, fierce fighting broke out between the two sides near the Bab el-Mandeb Strait in the past 24 hours, vying for high ground overlooking this important Middle Eastern shipping lane. An anonymous Yemeni government official stated that since the 16th, intense fighting has continued in the Kahbub mountains and surrounding high ground in Lahj province, southern Yemen, with the Houthis launching a new offensive against government defensive positions. The official said, "The fighting has continued since last night. The Houthis are trying to seize the high ground, while government forces are holding their positions." At least 19 government soldiers have been killed and 15 wounded; the wounded have been taken to a military hospital in the southern Yemeni port city of Aden. A Houthi official, also requesting anonymity, confirmed that the fighting between the Houthis and government forces near the Bab el-Mandeb Strait remains deadlocked, with several high points changing hands repeatedly, and neither side achieving a decisive breakthrough. At least 25 Houthi fighters have been killed, and several others have been wounded.On September 18, the UN General Assembly adopted a resolution on arrangements for the participation of the State of Palestine in the 81st session of the General Assembly. Against the backdrop of the United States refusing to issue visas to Palestinian President Mahmoud Abbas and some Palestinian officials, the General Assembly decided to allow the Palestinian side to participate in relevant UN meetings via video conference or pre-recorded speeches. The draft resolution received 152 votes in favor, 3 against, and 4 abstentions; China voted in favor. According to the resolution, the General Assembly regretted the United States refusal to issue or revoke visas to representatives of the State of Palestine before the 81st session of the General Assembly and urged the immediate reversal of such decisions. The resolution stated that representatives of the State of Palestine should be able to participate in relevant meetings held in person at the UN headquarters in New York.September 18 - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 10:00 a.m. on Friday, September 18. Chen Shaowang, spokesperson and vice minister of the Ministry of Housing and Urban-Rural Development, will introduce the relevant situation of promoting high-quality development of housing and urban-rural construction during the 15th Five-Year Plan period and answer questions from reporters.September 18th - According to Axios, US President Donald Trump is planning his first meeting with Venezuelan interim president Delcy Rodriguez as early as next week. Sources say the talks may take place during the UN General Assembly in New York. Trump plans to discuss the situation in Iran with Gulf leaders concurrently and hopes to arrange a meeting with Rodriguez. A Trump advisor stated that Venezuela is one of the Trump administrations key achievements, and Rodriguez is a key figure in promoting US-Venezuela relations. A senior US government official said the meeting is not yet finalized and the final arrangements depend on Trump himself. Trump previously responded "maybe" when asked if he would meet with Rodriguez. Rodriguez assumed power after the capture of former leader Nicolás al-Nimadro in a US military operation and has worked with the Trump administration and Secretary of State Marco Rubio to normalize US-Venezuela relations, including a previously reported major Venezuelan oil deal. The report points out that Trumps side is more focused on domestic political issues such as energy prices and immigration policy than on promoting democratic elections in Venezuela.

Oil Prices Continue to Decline As Large COVID Testing Has Commenced in China

Haiden Holmes

Apr 28, 2022 09:38

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Oil prices fell slightly in early Asian trade on Thursday, driven down by fears over growing coronavirus cases in China, the world's largest oil importer.


Beijing's capital recorded 48 new symptomatic and two new asymptomatic COVID-19 cases for April 27, according to state broadcaster CCTV.


The city had previously reported 31 symptomatic cases and three asymptomatic cases as part of a mass testing program aimed at controlling a new outbreak.


By 0006 GMT, Brent crude futures had fallen 37 cents, or 0.4 percent, to $104.95 a barrel. West Texas Intermediate crude futures in the United States lost 27 cents, or 0.3%, to $101.75 a barrel.


Beijing authorities are stepping up their efforts to contain COVID-19 infections and avert the city-wide shutdown that has engulfed Shanghai for a month.


Hangzhou, China's 12.2 million-person city and headquarters of e-commerce giant Alibaba (NYSE:BABA), will begin broad COVID testing on April 28, official media said Wednesday.


Concerns about a global energy supply shortage following Russia's invasion of Ukraine and subsequent sanctions imposed on Moscow by the US and its allies underpin the market.


Gazprom (MCX:GAZP), the Russian energy behemoth, announced on Wednesday that it has interrupted gas deliveries to Bulgaria and Poland.


According to trading records, Shell (LON:RDSa) announced that it would no longer take refined oil blended with Russian products, while Exxon Mobil (NYSE:XOM) declared force majeure on its Sakhalin-1 facilities in Russia's far east.