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On January 25, according to a statement from the Iraqi Ministry of Interior, on January 24, local time, Iraqi border guards were attacked by armed members of the Kurdistan Workers Party while performing border defense tasks in Dohuk Province, the Kurdish Autonomous Region in northern Iraq, and an exchange of fire occurred, resulting in the death of two Iraqi border guards and one injured. Two Kurdistan Workers Party militants were killed.On January 25, local time on January 24, Slovak Foreign Minister Branar said that if the United States stops aiding Ukraine, Slovakia does not agree that the EU should bear all the responsibility for aiding Ukraine. Branar said that the United States is currently the largest supporter of Ukraine "financially and militarily". When commenting on the possibility of US President Trump stopping aid to Ukraine, Branar said, "If some EU countries decide to continue to support Ukraine militarily, it is their own business, but Slovakia refuses to let the EU take over the (financial) burden." Branar reiterated that Slovakia refuses military aid to Ukraine and is in favor of reaching a ceasefire agreement and starting peace talks as soon as possible.On January 25, according to the National Seismological Center of the Geophysical Institute of Peru, a 4.9-magnitude earthquake occurred in the southern coastal area of Peru at 11:19 a.m. on the same day. The epicenter of the earthquake was 67 kilometers southeast of Tacna, and the focal depth was 135 kilometers. There are no reports of casualties or property losses. It is reported that this is the second earthquake after the 3.7-magnitude earthquake in Lima at 5:39 a.m. on the same day.Ukrainian President Zelensky: Russian President Putin is trying to manipulate Trumps efforts to achieve peace.Sources said Total Energys Texas refinery crude unit and coking unit were shut down.

After Soaring in The Previous Session Due to Russia's Sanctions, The Price of Oil Declines

Aria Thomas

May 12, 2022 09:37

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Oil prices declined in early Asian trading on Thursday, taking a breather after gaining more than 5 percent in the previous session in response to fresh Russian sanctions against some European gas firms.


On Wednesday, Russia sanctioned 31 enterprises located in nations that placed sanctions on Moscow during the February invasion of Ukraine.


At the same time, Russian gas flows to Europe via Ukraine decreased by a quarter, causing market concern. It was the first time since the invasion when exports via Ukraine were interrupted.


At 00:13 GMT, Brent crude futures decreased 9 cents to $107.42 a barrel. WTI crude prices dropped 13 cents per barrel to $105.58.


As a result of supply concerns following Russia's invasion of Ukraine in February, prices have climbed by roughly 35 percent so far this year.


The European Union continues to negotiate an embargo on Russian oil, which analysts say will tighten the market more and alter trade flows. The vote requires unanimity, but it has been delayed due to Hungary's staunch resistance.


As a result of China's efforts to stop the spread of coronavirus, fears of a decline in demand have curbed price increases.


Stephen Innes, managing partner of SPI Asset Management, predicts that oil prices will be capped in the near future unless China provides substantial policy support or policymakers embrace a different strategy to COVID, both of which seem highly improbable.

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