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On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.On December 21, six sources familiar with U.S. intelligence said that a U.S. intelligence report continues to warn that Russian President Vladimir Putin has not abandoned his goal of occupying the whole of Ukraine and reclaiming the European parts of the former Soviet Union. This report contrasts sharply with the account given by U.S. President Donald Trump and his Ukrainian peace negotiators, who claim Putin wants to end the conflict. According to one of the sources, the latest report was dated late September. This intelligence also contradicts Putins denial of posing a threat to Europe. According to the sources, this intelligence is largely consistent with the views of European leaders and intelligence agencies that Putin covets the entire territory of Ukraine and former Soviet states, including some NATO member states.December 21 - According to the Japan Meteorological Agency, a 5.5-magnitude earthquake struck off the eastern coast of Aomori Prefecture, Japan, at approximately 10:29 a.m. local time on December 21. The maximum tremor was felt as a 4, and the epicenter was 50 kilometers deep.On December 21, the United States intercepted another oil tanker off the coast of Venezuela, which the Venezuelan government called an act of piracy. Jeremy Paner, a partner at the Washington-based law firm Hughes Hubbard and a former investigator with the Office of Foreign Assets Control (OFAC), said the ship was not subject to U.S. sanctions. “The seizure of a vessel not sanctioned by the United States marks a further increase in pressure on Venezuela by Trump,” Paner said. “This also contradicts Trump’s statements that the U.S. will blockade all sanctioned oil tankers.”

Oil declines more as recession fears deepen

Haiden Holmes

Jun 23, 2022 11:28


Oil prices fell 2% in early trade on Thursday, extending losses from the previous session, as investors were concerned that aggressive U.S. interest rate hikes may trigger a recession and cut gasoline use.


U.S. West Texas Intermediate (WTI) oil futures declined $2.39, or 2.3%, to $103.80 a barrel at 00:00 GMT. Brent oil prices sank $2.24, or 2.0 percent , to $109.50 a barrel.


On Wednesday, both indexes dropped about 3 percent, reaching their lowest levels since mid-May.


Investors continue to assess the degree to which they should be concerned about the likelihood of a global economic recession as central banks attempt to manage inflation through interest rate rises.


"Oil markets remained under pressure as investors concerned that rising U.S. interest rates will hinder the economic recovery and reduce gasoline demand," said Kazuhiko Saito, head analyst at Fujitomi Securities Co Ltd.


"U.S. and European hedge funds have begun selling their positions ahead of the end of the second quarter, further lowering market sentiment," he continued, predicting that the WTI might go below $100 per barrel before the July 4 holiday in the United States.


Jerome Powell, the chairman of the Federal Reserve, emphasized on Wednesday that the Fed is not aiming to engineer a recession in order to battle inflation, but is fully dedicated to bringing prices under control, even if doing so risks a recession.


In the meanwhile, U.S. President Joe Biden urged Congress to suspend the federal gasoline tax for three months to combat record pump prices and provide American customers with temporary relief this summer.


Sato of Fujitomi stated, "Even if the gasoline tax was suspended, retail prices would remain high, making it hard to increase demand."


The U.S. Energy Information Administration has delayed the release of its weekly oil figures until at least the next week due to system issues. Originally, the figures were scheduled to be disclosed on Thursday.


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