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On February 6th, Iranian Foreign Minister Araqchi issued a statement ahead of the start of nuclear negotiations with the United States, saying, "Iran embarks on its diplomatic journey with a clear mind, remembering the events of last year. We participate with sincerity while firmly defending our rights." Araqchi also stated that commitments must be fulfilled. Equality, mutual respect, and common interests are necessary conditions and cornerstones for reaching a sustainable agreement. The United States and Iran are scheduled to hold nuclear talks in Muscat, the capital of Oman, on the 6th. Neither side has yet specified the format of the talks.February 6th, Futures News: Economies.com analysts latest view: In recent intraday trading, WTI crude oil futures prices rose, benefiting from support at the EMA50. The EMA50 provided a solid foundation, helping the price rebound higher and reducing previous losses, thus consolidating the positive stability of intraday prices. This performance was achieved with the main short-term uptrend dominating, and prices continuing to trade along the support trendline, indicating stable upward momentum. Meanwhile, the Relative Strength Index (RSI) issued a positive signal after reaching oversold levels, supporting a scenario of continued recovery and an attempt to resume upward momentum in the short term.Japans December coincident economic indicator preliminary reading was 114.5, below the expected 114.4 and the previous reading of 114.9.Japans preliminary leading index for December was 110.2, below the expected 109.8 and the previous reading of 109.9.Japans leading economic indicators rose 0.3% month-on-month in December, compared with 0.1% in the previous month.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."