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On February 22, the Afghan Ministry of Defense issued a statement saying that Pakistan had once again violated Afghan territory, launching airstrikes on multiple civilian areas in Nangarhar and Paktika provinces. The attacks resulted in dozens of civilian casualties, including women and children. The Ministry of Defense strongly condemned Pakistans blatant violation of Afghan territorial sovereignty, considering it a serious breach of international law and the principle of good neighborliness. The Ministry warned that it would respond appropriately and carefully at the right time.February 22nd - According to Shanghai Railway Group, the Yangtze River Delta railway network is experiencing a peak in return passenger traffic on February 22nd, with an estimated 3.19 million passengers transported today, a year-on-year increase of 15.3%. Yesterday, 2.913 million passengers were transported, a year-on-year increase of 18.3%. Since the start of this years Spring Festival travel rush, the average daily passenger volume has been approximately 2.595 million. The railway department is increasing capacity on key routes and during peak hours to actively cope with the passenger flow peak, planning to add 584 passenger trains (378 through trains and 206 local trains) and expand the fleet of high-speed trains by 366.February 22nd - According to data from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, since February 15th (the 28th day of the twelfth lunar month), as of February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge has exceeded 100,000, reaching 114,000. On February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles inspected by the border inspection department exceeded 20,000 for the first time in a single day, setting a new historical high since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies.February 22 – Ahmed Altom, Director General of the Geological Research Authority of Sudan, stated on February 21 that the armed conflict in Sudan has caused approximately $7 billion in economic losses to the countrys mining industry. Altom said that the conflict has severely damaged Sudans mining infrastructure, reducing government-led mining activities from 18 states to 6. Geological surveys, exploration operations, and mining production have all been significantly affected, resulting in a sharp decline in related fiscal revenue.On February 22, US President Trump approved emergency aid to Washington, D.C., to address the aftermath of a leak that released at least 250 million gallons (approximately 940 million liters) of untreated sewage into the Potomac River. On January 19, a decades-old sewage pipe in Maryland ruptured, causing over 900 million liters of wastewater to flow into the Potomac River. This river flows west of Washington, D.C., and is a major source of drinking water for the capital region. The incident became one of the largest sewage spills in U.S. history. On February 18, Washington, D.C. Mayor Muriel Bowser declared a state of emergency and requested federal resources from President Trump to help the city deal with the sewage system leak.

Oil prices fall owing to rising U.S. stocks and weaker demand

Skylar Williams

Jul 13, 2022 11:03

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Oil prices dipped in early Asian trade on Wednesday with the release of U.S. inventory data indicating a rise in crude oil and refined products, amid rising fears of a global economic slowdown.


Brent oil futures shed 68 cents, or 0.7 percent , to $98.81 a barrel at 0002 GMT. The price of U.S. West Texas Intermediate crude oil dropped 72 cents, or 0.8 percent, to $95.12 a barrel, which is also the lowest level in three months.


Concerned that aggressive interest rate increases to battle inflation may precipitate a recession, which will severely influence oil consumption, investors have sold their oil holdings. Due to volatile trading, prices dropped by more than 7 percent in the previous session.


China's renewed COVID-19 travel restrictions had an effect on the market. Multiple cities in the world's second-largest economy have enacted further restrictions, ranging from firm closures to wider lockdowns, to prevent the spread of a highly dangerous virus strain.


During the week ending July 8, crude oil stocks climbed by around 4.8 million barrels in the United States. According to market sources citing data issued by the American Petroleum Institute on Tuesday, gasoline supplies grew by 3 million barrels, while distillate stockpiles increased by 3,3 million barrels.


The dollar index, which compares the dollar to a basket of six other currencies, reached its highest level since October 2002 on Tuesday, reaching 108.56.


Since oil is frequently priced in U.S. dollars, a stronger dollar makes the commodity more expensive for foreign currency holders. During times of market volatility, the dollar is often viewed as a safe haven by investors.