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On April 30th, a United Airlines pilot reported that his plane collided with a small object, suspected to be a drone, during landing on April 29th. Fortunately, no one was injured. The pilot was flying a Boeing 737, flight number 1980, from San Francisco, California to San Diego on the 29th. The incident occurred at approximately 8:30 AM local time, about 90 minutes into the flight, as the plane prepared for landing at an altitude of approximately 900 meters. There were 48 passengers and 6 crew members on board.The U.S. House of Representatives approved a Republican plan that paves the way for $70 billion in funding for Immigration and Customs Enforcement and the Border Patrol.On April 30th, at the 9th Digital China Summit on the afternoon of the 29th, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) released ten digital technology achievements of central enterprises. The event highlighted ten achievements, including the "Starry Sky Model" and the "Port Digital Twin Intelligent Agent Simulation Decision-Making Platform," showcasing the new breakthroughs made by central enterprises in key areas such as industrial software, core electronic components, and artificial intelligence.On April 30, a ruling filed on April 28 by a judge of the U.S. Court of International Trade indicated that the first batch of refunds for tariffs imposed by the U.S. government under the International Emergency Economic Powers Act (IEEPA) will be disbursed around May 11. The ruling shows that approximately 21% of imported goods subject to tariffs under IEPA have already gone through a new approval process by U.S. Customs and Border Protection and are eligible for tariff refunds.Samsung Electronics: We are conducting a preliminary review of our plans to build a second factory in Taylor, Texas.

Oil decreases due to demand concerns and increased supply

Haiden Holmes

Aug 11, 2022 11:14


Thursday morning Asian trade saw a dip in oil prices as traders anticipated an increase in oil production and a decrease in demand.


Brent oil prices fell 53 cents, or 0.5%, to $96.87 a barrel by 00:05 GMT, while U.S. West Texas Intermediate crude futures fell 61 cents, or 0.7%, to $91.32.


The U.S. Energy Information Administration stated that crude oil stockpiles rose by 5.5 million barrels in the most recent week, above the forecasted increase of 73,000 barrels.


The gasoline product supply grew to 9.1 million barrels per day in the most recent week, despite a 6% reduction in demand over the previous four weeks compared to the same time in the previous year.


Flows on the Russia-to-Europe Druzhba pipeline resumed earlier this week.


The Russian oil pipeline monopoly Transneft has restarted oil transport along the southern portion of the Druzhba oil pipeline. Since the start of this month, Ukraine has restricted Russian oil pipeline exports to parts of central Europe because Western sanctions prevented it from receiving transit payments from Moscow, Transneft said on Tuesday.


Later on Wednesday, the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) will announce their respective monthly oil statistics.