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September 5th - According to the Wall Street Journal, sources familiar with the negotiations said that U.S. negotiators used a promise to obtain Nvidias (NVDA.O) artificial intelligence chips to help facilitate a preliminary peace agreement reached last year between Armenia and Azerbaijan. A previously unreported point is that the U.S. specifically expanded its chip procurement approval authority for Armenias data center project to encourage Armenias participation in the negotiations. This move is one of the most high-profile examples to date, embodying what U.S. officials call "chip diplomacy." While the Trump administration has previously used artificial intelligence hardware in negotiations with the UAE and Saudi Arabia, the Armenian agreement is the first instance of the administration publicly using such means to facilitate a peace agreement. This agreement further deepens the relationship between the White House and the worlds largest chipmaker.September 5th - US President Trump posted that it has been an incredible summer for the American tourism industry. Americans have traveled nearly 300 billion miles, our national parks welcomed 78 million visitors, and millions more traveled by air. The FIFA World Cup alone brought in over $18 billion for our economy and supported over 160,000 jobs! Tourism means jobs, investment, and billions of dollars flowing into American businesses and communities. We are cutting red tape and modernizing air travel to make it easier to travel and do business in the United States. America is opening its doors to the world—and the best is yet to come.On September 5th, U.S. District Judge Trevor McFadden rejected a temporary restraining order application filed by Stars and Stripes publisher Max Laidler, editor-in-chief Eric Slavin, and Middle East journalist Lara Colter on September 4th, allowing the Department of Defense to proceed with the dismissal of the three. The judge ruled that the three had failed to demonstrate that their First Amendment rights were likely violated. The three had previously sued the Department of Defense, claiming they were being retaliated against for publicly supporting Stars and Stripes editorial independence and related reporting. In his ruling, Judge McFadden stated that while Slavin and Colter had been granted permission to give interviews, existing materials showed they were making these statements in the course of official duties, not as private citizens. Regarding Laidler, the judge stated that his failure to follow orders was not protected by the First Amendment.On September 5th, US President Trump posted: "Great news! Our booming economy added 162,000 jobs in August to honor the great American workers we celebrate this year (and every year!) for Labor Day." This strong figure is almost three times the prediction of so-called "economists" in a Bloomberg survey—people still suffering from "Trump mania." The impact of Trumps economic boom is evident across numerous industries. This administrations fair trade policies, implemented through a superb tool called "tariffs," have reshaped the global economic landscape, bringing manufacturing jobs back to the US on an unprecedented scale. Factory construction is booming as businesses utilize the "full deduction" policy (full deduction within one year). Soon, these factories will be packed with American workers.September 5th - The 5th China-Canada (China-Canada) Defence Working Meeting was held in Canada on September 4th. Both sides exchanged candid and in-depth views on international and regional issues of common concern, expressed their positive desire to strengthen practical exchanges and cooperation between the two militaries, and enhanced mutual understanding and trust.

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.