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On September 6, Russian Presidential Aide Ushakov said early on the 6th that President Putins meeting with US President Trumps special envoy Witkov and son-in-law Jared Kushner at the Kremlin on the evening of the 5th lasted more than three hours and was substantive and "constructive." Ushakov said that the Russian side made a clear and comprehensive assessment of the current situation, including the situation developing during the special military operation. In particular, the Russian side pointed out the actual progress made by the Russian army in the theater of operations and expressed confidence in achieving its established objectives, while also emphasizing the necessity of eliminating all the root causes of the conflict. Ushakov stated that Russia reiterated its willingness to continue working with the US to seek a solution through political and diplomatic means. Both sides confirmed that the two presidents will continue to maintain direct contact.Russian Presidential Aide Ushakov: Putin is prepared to cooperate with the United States to seek a diplomatic solution to the Russia-Ukraine issue.September 6 - According to the Islamic Republic News Agency (IRNA), the public relations department of the Iranian Islamic Revolutionary Guard Corps issued a statement on September 5 denying that the Isfahan nuclear technology center and nuclear facilities had been attacked, calling the related reports purely fabricated. The statement said that spreading such content during the current sensitive situation is an attempt by hostile forces to create tension, disrupt public opinion, and incite public panic.September 6 - According to Irans Fars News Agency, a deputy political official of the Iranian Revolutionary Guard Navy stated that in the 10 days leading up to August 30, Iranian naval forces were "punishing" two to five "violations" of regulations every night in the Strait of Hormuz. The official added that the US attacks "did not cause the slightest disruption to Irans control in the region."On September 6th, Israeli public radio reported on the 5th that the Israeli military is preparing to partially withdraw from southern Lebanon and plans to establish a smaller "safe zone" along the Lebanese-Israeli border. The report stated that the Israeli military recently completed the destruction of Hezbollah tunnels beneath the Ali Tahir heights in the Nabatayah region of southern Lebanon, subsequently formulating the aforementioned relocation plan. Israeli security officials said that under the new plan, the Israeli military will withdraw to a position closer to the Lebanese-Israeli border, reducing the depth of its controlled area in southern Lebanon from the current approximately 10 kilometers to 3-4 kilometers. The new deployment line, referred to as the "grey line," will replace the current "yellow line."

Oil Prices Stable Despite Libya's Supply Disruption, And Shanghai Preparing to Reopen

Haiden Holmes

Apr 19, 2022 09:34

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At 0020 GMT, Brent oil prices were up 21 cents, or 0.2%, to $113.37 per barrel, while US West Texas Intermediate (WTI) crude futures were down 2 cents to $108.19 per barrel.


With the dollar trading at a new two-year high, gains were restricted. A higher dollar is detrimental to foreign-currency oil purchasers.


Both benchmark contracts gained more than 1% in the previous session after reaching their highest level since March 28 after Libya's announcement that it was unable to supply oil from its largest field and had shut down another due to political demonstrations.


The latest supply disruption occurred as China, the world's top oil importer, was anticipated to ramp up demand as industrial units in Shanghai prepared to reopen.


However, demand issues persist as China continues to implement strict controls to minimize COVID outbreaks.


"At the end of the day, we are still in a tractor pull between global supply shortages and China's COVID demand constraint," Stephen Innes, managing director of SPI Asset Management, said in a note.


Meanwhile, the prospect of a European Union embargo on Russian oil in retaliation for Russia's invasion of Ukraine continues to spook the market. Ukraine claimed Tuesday that Russia, which refers to its efforts as a "special operation," has launched an expected fresh onslaught in the country's east.


"The Russian minister's statement that further nations prohibiting Russian oil imports will result in oil prices reaching record highs bolstered market sentiment," ANZ Research analysts said in a report.

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