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European Central Bank President Christine Lagarde: Europe cannot miss the artificial intelligence revolution.On August 19th, KPMG Chief Economist Yael Selfin stated in a report that although the UKs inflation rate rose to 2.9% in July from 2.6%, marking the beginning of a gradual increase in inflation, this is unlikely to prompt the Bank of England to raise interest rates. She stated that domestic price pressures in the UK are easing, and the inflation level is broadly in line with the Bank of Englands latest forecasts. Selfin also noted that, encouragingly, core inflation continued to slow in July, with the services sector inflation rate falling to 3.4% from 3.6%. Given the less weak labor market compared to 2022, rising energy costs are unlikely to trigger a significant second-round effect in the coming months. She stated, "We expect interest rates to remain unchanged for the remainder of the year."Futures News, August 19th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 373,905 tons, down 515 tons from the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,520 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 20,420 tons. 6. Petroleum asphalt futures warehouse receipts: 14,230 tons, down 10 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 26,500 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 330 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.SK Hynix (SKHY.O) shares rose more than 4% in overnight trading on the US stock market, after falling more than 3% earlier, after the company announced formal approval for a 40 trillion won share buyback program.On Wednesday, August 19, the German DAX 30 index opened down 3.12 points, or 0.01%, at 26,148.57; the UK FTSE 100 index opened down 0.76 points, or 0.01%, at 10,727.28; the French CAC 40 index opened up 9.78 points, or 0.11%, at 8,519.14; the Euro Stoxx 50 index opened up 6.08 points, or 0.09%, at 6,474.25; the Spanish IBEX 35 index opened down 0.31 points, or 0.00%, at 19,934.59; and the Italian FTSE MIB index opened up 49.16 points, or 0.09%, at 53,067.00.

Protests Shut Down El Feel Oilfield and Zueitina Port in Libya

Charlie Brooks

Apr 18, 2022 09:47

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Since March, when the eastern-based parliament selected Fathi Bashagha to replace Dbeibah, Libya has had two rival administrations, reigniting a deadlock between the country's east and west. Dbeibah has resisted ceding control to Bashagha, who has not yet arrived in Tripoli.


NOC, the state-owned oil corporation, stated in a statement that a group of unidentified individuals infiltrated El Feel's facilities the previous day and blocked staff from working.


Meanwhile, two Zueitina oil engineers told Reuters that demonstrators gained access to the port on Sunday morning, stopping a vessel from loading 1 million barrels.


The demonstrators in Zueitina said in a video statement shared on social media that they would shut down the port and its oil fields unless Dbeibah resigns.


The demonstrators, who identified themselves as a group of Zueitina locals including elders, also demanded the dismissal of NOC CEO Mustafa Sanalla for the company's refusal to deliver oil money to Dbeibah's administration.


According to the finance ministry, the NOC sent $6 billion in oil earnings to the ministry's central bank account on Thursday.


Dbeibah's office did not immediately respond to a request for comment.


According to a statement issued Sunday by the oil and gas ministry, these closures "would undermine NOC's position in global markets as a consequence of its failure to meet its responsibilities."