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According to the German Geoscience Research Center GFZ: A 5.66 magnitude earthquake occurred in northern Colombia.On September 14th, local time, Robert Brovdi, commander of Ukraines unmanned systems forces, announced on his official social media platform that Ukrainian drone and special operations forces had carried out a strike on the Kirish refinery in Leningrad Oblast, Russia. Leningrad Oblast Governor Drozdenko announced on the 14th that Russian air defenses had shot down four drones in Leningrad Oblast. The wreckage of the downed drones caused a fire within the Kirish refinery complex. The Kirish refinery is one of Russias five largest refineries, with an annual production capacity of approximately 20 million tons, primarily producing high-octane gasoline and various fuels.Ukrainian military: Ukraine attacked Russias Kirishi oil refinery.Ukrainian Navy: On the night of September 11, Ukrainian Navy forces attacked a communications node at the 184th Scientific and Experimental Base of the Russian Black Sea Fleet in Sevastopol, Crimea. The communications node is responsible for command and control of the Russian Black Sea Fleets forces.On September 14th, the immigration issue continued to tear British society apart. On September 13th, local time, two opposing demonstrations broke out simultaneously in central London. Over 100,000 people participated in an anti-immigration rally organized by the far right, while approximately 5,000 people participated in an anti-racism demonstration. To maintain order and separate the two groups of protesters, London police deployed over 1,000 officers to create a "quarantine zone." At the scene, physical clashes broke out between the anti-immigration demonstrators and police.

Oil Extends Gains After News of EU Proposal For Russian Oil Ban

Haiden Holmes

May 05, 2022 09:53

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Oil prices rose up at the start of Asian trade on Thursday, extending gains from the previous session, following the European Union's proposal of further sanctions against Russia, including a six-month crude oil embargo.


By 0:02 GMT, Brent crude futures were up 22 cents to $110.36 a barrel. The price of WTI crude futures increased by 15 cents to $107.96 a barrel.


On Wednesday, both benchmarks increased by more over $5 a barrel.


The plan, announced by European Commission President Ursula von der Leyen and requiring unanimous approval by the EU's 27 member states to become law, calls for the phase-out of Russian crude oil supplies in six months and refined products by the end of 2022. Additionally, it seeks to prohibit EU corporations from providing shipping, brokerage, insurance, and financing services for the shipment of Russian oil within a month.


However, the EU confronts the challenge of finding alternatives as it imports approximately 3.5 million barrels of Russian oil and petroleum products daily and is also reliant on Moscow's gas supplies.


A few eastern European countries are concerned that the stop will not provide them with the time to adapt.


Market traders expected the Organization of the Petroleum Exporting Countries and Associated Producers' meeting on Thursday, dubbed OPEC+.


The group is poised to agree to increase monthly output objectives by 432,000 barrels per day (bpd) in June, according to four OPEC+ delegates.


According to the US Energy Information Administration, oil stockpiles increased marginally last week. Stocks increased by 1.2 million barrels as the US increased the amount of crude released from its strategic reserves. 

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