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May 17th - According to data from online platforms, as of May 17th, the total box office revenue for films in 2026 (including pre-sales) has exceeded 14.4 billion yuan.Qatars Ministry of Foreign Affairs: The Prime Minister and Foreign Minister of Qatar held a telephone conversation with the Saudi Foreign Minister. They reviewed bilateral cooperation and ways to further support and strengthen it, and also discussed regional developments, particularly those concerning the US-Iran ceasefire, as well as efforts aimed at de-escalating tensions and enhancing regional security and stability.According to Al Jazeera, the Israeli military stated that an "a suspicious aerial target" was detected after alarms were sounded in the northern Misgaff-Am region. The aircraft crashed near an area where Israeli forces were operating in southern Lebanon, and there were no casualties reported.On May 17th, Yonhap News Agency reported that Samsung Electronics labor and management will begin a second round of post-incident mediation at 10:00 AM local time on the 18th. Previously, the labor side had announced an 18-day general strike starting on the 21st, making the possibility of reaching an agreement through mediation to resolve the conflict and avoid a strike a major concern. Under the mediation of the Central Labor Committee of the Ministry of Employment and Labor, labor and management held marathon negotiations from the early morning of the 11th to the 13th, but failed to narrow the gap on performance bonus payment standards, leading to a breakdown in negotiations. The committee requested on the 14th that labor and management restart negotiations on the 16th, but this was refused. This time, both sides accepted the mediation request, and negotiations will resume after a five-day hiatus. Samsung Electronics Chairman Lee Jae-yong returned to South Korea on the 16th after an overseas business trip. Upon arriving at the Gimpo Business Aviation Center in Seoul, he called on labor and management to return to the negotiating table. Lee Jae-yong stated that at this moment, they should unite their strength and move in the same direction, and once again exert their utmost efforts to truly be proud to be "Samsung people." Minister of Employment and Labor Kim Young-hoon also met with representatives of labor and employers on the 15th and 16th respectively to explain the governments position and coordinate opinions.On May 17, according to Japans Kyodo News, a U.S. Navy sailor stationed in Japan was arrested by local police on suspicion of stealing a wallet and other items. The report stated that the incident occurred at approximately 2:15 AM local time (1:15 AM Beijing time) on May 17. The suspect allegedly stole a paper bag containing a wallet, smartphone, and other items worth approximately 105,000 yen (about 4,503 yuan) from a taxi in Sasebo City, Nagasaki Prefecture. The taxi driver called the police, reporting that a man suddenly got into the car, argued with a woman inside, and then stole the paper bag. The report also stated that the U.S. sailor is affiliated with the U.S. Marine Corps base in Sasebo and has denied some of the charges.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

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Benchmark Brent oil declined on Thursday, while West Texas Intermediate (WTI) crude remained unchanged, hovering at two-month lows due to uncertainty about the degree to which a proposed G7 restriction on the price of Russian oil would limit supply.


A larger-than-anticipated rise in gasoline inventories in the United States and an expansion of COVID-19 limitations in China also knocked on oil prices.


At 15.15 p.m. ET (2015 GMT), Brent oil prices decreased 29 cents, or 0.3%, to $85.12 per barrel, while U.S. WTI crude futures decreased 2 cents, to $77.96 per barrel.


Due to the Thanksgiving break in the United States, trade volumes were quite low.


The announcement on Wednesday that the expected price ceiling for Russian oil may surpass the current market level triggered a decrease of about 3 percent for both benchmarks.


European Union nations remained divided over what level to cap Russian oil prices to limit Moscow's ability to pay for its battle in Ukraine without causing a global oil supply shock; if positions converge on Friday, more conversations are possible.


A European official claimed that the G7 is discussing a cap of $65-$70 per barrel for Russian oil transported by sea, but European Union member states have not yet reached an agreement on a price.


A higher price ceiling might encourage Russia to continue selling its oil, decreasing the possibility of a global oil supply shortage.


According to two sources, several Indian refiners are discounting Russian Urals crude by between $25 and $35 per barrel compared to the worldwide benchmark Brent oil. Urals is Russia's principal crude export.


Despite the obstacles, Bart Melek, global head of commodities market strategy at TD Securities, is rather optimistic about oil. "The Russian price ceiling is another aspect that contributed to the current price fall," he stated.


The Energy Information Administration (EIA) said on Wednesday that gasoline and distillate inventories in the United States climbed substantially during the previous week. [EIA/S]


In contrast, oil stockpiles decreased by 3.7 million barrels to 431.7 million barrels in the week ending November 18, despite a Reuters survey predicting a reduction of 1.1 million barrels.


China reported the highest daily number of COVID-19 cases since the outbreak began over three years ago on Wednesday. Local officials intensified measures to remove the breakouts, raising investor anxiety over the economy and demand for fuel.

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