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November 17th - Sources familiar with the matter said on Sunday that Airbus appears poised to beat Boeing at the Dubai Airshow to the largest share of a major aircraft order from Dubai Airways. They indicated that Airbus is close to finalizing an agreement to sell approximately 100 A321neo aircraft to Dubai Airways, which is also in talks with Boeing for a smaller order of dozens of 737 MAX aircraft. The sources said Airbuss share in the deal could exceed 100 aircraft, but the final allocation depends on ongoing negotiations.Sources say Airbus is close to reaching an agreement with Dubai Airlines to sell about 100 A321 NEO aircraft, with the possibility of more orders in the future; Boeing (BA.N) is negotiating with Dubai Airlines for a small order of several dozen 737 Max aircraft.On November 17th, local time, on the 16th, Israeli Chief of Staff Zamir visited the Israeli Gaza Division in Rafah, southern Gaza Strip, to chair a situation assessment meeting. He emphasized that the Israeli military must be prepared to swiftly cross the "Yellow Line" and launch a full-scale offensive in Gaza if necessary. Zamir pointed out that the Israeli military currently controls more than 50% of the Gaza Strip, but not the local population. The "Yellow Line" is a line of encirclement and control, and the Israeli military is using control of strategic terrain to prevent Hamas expansion. He stressed that while the current operational progress is underway, the Israeli military must be prepared to swiftly cross the "Yellow Line" if necessary, launch a full-scale offensive in Gaza, and occupy more areas. Currently, Israeli forces are continuously clearing out remaining enemy forces along the "Yellow Line," destroying militants and their underground facilities, while ensuring the safety of troops.Boeing (BA.N) said on November 16 that it will ensure its factories have the capacity to absorb higher production levels before further increasing aircraft output next year, highlighting the aircraft manufacturers cautious strategy after years of production setbacks. The company recently received approval from U.S. regulators to increase monthly production of its 737 aircraft from 38 to 42. Stephanie Popp, head of Boeings commercial aircraft business, said the companys current focus will be on "stabilizing" existing production rhythms before further increases in production.Boeing (BA.N): Before ramping up production again next year, it will ensure that its factories are ready to handle a higher proportion of aircraft production.

Oil Prices Fall Due to Profit-taking, But Supply Concerns Persist

Haiden Holmes

May 16, 2022 10:16

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Oil prices declined on Monday, erasing earlier gains as speculators booked profits following the previous session's jump, but global supply concerns persisted as the European Union prepared to phase out imports from Russia.


At 01:37 GMT, Brent crude futures decreased 64 cents, or 0.6%, to $110.91 per barrel, while U.S. West Texas Intermediate (WTI) crude futures decreased 60 cents, or 0.5%, to $109.89 per barrel.


Both benchmarks gained by around 4 percent on Friday, with WTI reaching its highest level since March 28 at $111.71 per barrel.


The chief analyst of Fujitomi Securities Co Ltd, Kazuhiko Saito, expects oil markets to rise this week due to an impending ban on Russian oil by the European Union, which will further constrict global crude and fuel supply.


Despite concerns over supplies in eastern Europe, the EU still intends to approve a phased embargo on Russian oil this month, four diplomats and officials said on Friday, dismissing suggestions of a delay or watering down of proposals.


Moscow, which describes its efforts in Ukraine as a "special military operation," sanctioned numerous European energy businesses last week, prompting supply concerns.


In the meantime, U.S. gasoline futures established a new record high on Monday as dwindling inventories fueled supply fears.


Saito of Fujitomi Securities stated, "Oil prices remained bullish, especially WTI's near-term contract, as U.S. gasoline prices continued to grow despite decreased imports of petroleum products from Europe."


On the supply side, U.S. energy businesses added oil and natural gas rigs for the eighth consecutive week in the week ending May 13, as high prices and government encouragement spurred drillers to return to the wellpad.


Elsewhere Due to under-investment in oilfields by several Organization of the Petroleum Exporting Countries (OPEC) members and, more recently, output losses by Russia, OPEC+ has fallen short of previously agreed-upon targets for output increases.


OPEC's output in April increased by 153,000 barrels per day (bpd) to 28.65 million bpd, falling short of the 254,000 bpd increase permitted under the OPEC+ agreement.

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