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According to Al Arabiya TV, the Israeli Defense Minister stated that Israel will not withdraw its troops from the safe zone in Lebanon until Hezbollah disarms.September 6th - To further enhance the informatization and intelligentization of efforts to prevent telecommunications and online fraud and help the public effectively identify and prevent fraud, the "National Anti-Fraud AI" APP, independently developed by the Shanghai Municipal Public Security Bureau under the guidance of the Criminal Investigation Bureau of the Ministry of Public Security, was officially launched recently. The "National Anti-Fraud AI" APP integrates big data, multimodal models, and intelligent agent technology. Users can input suspicious scenarios through their mobile phones, and the APP can complete risk assessment, identify fraudulent tactics, and push typical cases. It dissects fraud methods from multiple dimensions, including text, voice, and video, and provides identification and prevention strategies.On September 6, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement saying that its navy struck a U.S. unmanned surface vessel attempting to enter Irans "protected zone" in the Strait of Hormuz. This came hours after the U.S. and Iran exchanged military strikes. The IRGC had previously warned all vessels in the Persian Gulf and the Strait of Hormuz not to be deceived by the U.S. military and to avoid conducting any "suspicious activities" in unauthorized routes, or they would become targets. The IRGC has repeatedly emphasized that control and management of the Strait of Hormuz is "solely the responsibility of the IRGC Navy," and any disruption to order in the strait will be met with a firm response.September 6th - This year, AI short dramas have experienced explosive growth: lower technical barriers have led to a surge of practitioners, rapid capacity expansion, and a corresponding drop in production prices. The price per minute for producing AI short dramas has plummeted from 5,000 yuan to a few hundred yuan, nearing cost; however, customized short drama services can still fetch 10,000-20,000 yuan per minute. As production skills are no longer scarce, competition in the AI short drama industry is shifting from quantity and price to content and market share. Data shows that the domestic AI drama and animation market is expected to exceed 40 billion yuan by 2026, a year-on-year growth rate of 138%. The overseas market is also performing exceptionally well, with its size projected to surpass 4 billion US dollars, accounting for nearly 70% of the overall overseas micro-drama market.On September 6th, local time, the European Commission held a press conference on September 4th. A reporter asked how the EU would evaluate Israeli National Security Minister Ben-Gevills plan to expel 1.86 million Palestinians from the Gaza Strip. European Commission spokesperson Christian Wigand stated that the EU opposes any attempt to change the demographic structure or territorial status of the Gaza Strip, and that Gaza residents should not be forcibly displaced. Wigand also stated that the Gaza Strip is an integral part of the future Palestinian state.

Oil costs increase as supply restrictions trump economic worries

Charlie Brooks

Jul 05, 2022 11:12


Oil prices climbed on Monday as supply worries spurred by a decrease in OPEC production, unrest in Libya, and sanctions against Russia trumped fears of a worldwide recession that would diminish demand.


In June, Euro zone inflation hit an all-time high, boosting the case for rapid rate rises by the European Central Bank, while consumer sentiment in the United States reached an all-time low.


Brent oil rose $2.26, or 2%, to $113.89 a barrel as of 12:47 p.m. ET (1648 GMT), after shedding more than $1 in early trading. The price of U.S. West Texas Intermediate (WTI) crude rose $2.20, or 2%, to $110.63 despite the lack of trading activity over the Fourth of July holiday.


According to a Reuters survey, the Organization of the Petroleum Exporting Countries (OPEC) failed to meet its June goal of increasing production.


Thursday, authorities in OPEC member Libya declared force majeure at the Es Sidr and Ras Lanuf ports and the El Feel oilfield, claiming a reduction of 865,000 barrels per day in oil output (bpd).


Meanwhile, more than two weeks of unrest have caused Ecuador to lose almost 2 million barrels of production, according to Petroecuador, the country's state-owned oil company.


This week, a strike in Norway may restrict supply from the biggest oil producer in Western Europe and reduce overall petroleum production by 8 percent.


"This background of rising supply interruptions clashes with a probable shortage of spare production capacity among Middle Eastern oil producers," said Stephen Brennock of oil trader PVM, referring to the producers' limited ability to pump more oil.


And prices will climb if new oil production does not reach the market shortly.


On Monday, British Prime Minister Boris Johnson asked OPEC+ to raise oil output to tackle the growing cost of living.


As a consequence of Russia's invasion of Ukraine, supply concerns have sent Brent oil prices close to 2008's record high of $147 a barrel.


As a consequence of restrictions on Russian oil and limited gas supplies, surging energy prices have driven inflation in certain countries to multi-decade highs and stoked fears of a recession.


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