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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.”

On concerns of demand destruction, oil prices plummet, with benchmarks down 4% for the week

Haiden Holmes

Sep 09, 2022 10:39

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Oil prices dropped in early trade on Friday, following a slight recovery in the previous session, leaving them on track to fall for a second consecutive week on concerns that aggressive rate hikes by central banks and COVID-19 limitations by China may have an impact on demand.


Brent crude futures slipped 12 cents, or 0.1%, to $89.03 per barrel at 00:51 GMT on Friday, after rising 1.3% on Thursday.


Futures for U.S. West Texas Intermediate (WTI) crude fell 19 cents, or 0.2%, to $83.35 a barrel after a 2% increase in the previous session.


The market reached its lowest position since January at one point during the week, with both indexes down nearly 4%.


The decline has occurred despite a modest output cut by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, Russia's threat to cut oil flows to any country that supports a price cap on its crude, and a weaker outlook for the growth of U.S. oil production.


The U.S. Energy Information Administration forecast on Thursday that U.S. crude output will increase by 540,000 barrels per day to 11.79 million barrels per day in 2022, a reduction from a previous estimate of 610,000 bpd.


Amid the week, the 50-day moving average went below the 200-day moving average in what is known as a 'death cross,' leading analysts to assume that the sell-off may have been overblown, as demand in China, the world's largest oil importer, may recover swiftly.


"China's demand is harder to predict, but historically, a post-COVID reopening has been accompanied by a recovery rather than a gradual increase. The fundamentals appear to be at odds with the most recent technical indications in this context "National Australia Bank (OTC:NABZY) stock is cheap, according to a letter from analysts.


China is expanding its limitations today. On Thursday, the majority of Chengdu's more than 21 million residents were cautioned not to travel over upcoming holidays, while millions more were given the same advice in other regions of China.

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