Oil prices are falling on Tuesday after rising the day before. The pressure on the market is exerted by continuing fears of a decrease in demand due to strict quarantine restrictions in China. The European Union, meanwhile, is preparing a plan to reduce energy consumption in the face of falling gas supplies from Russia.
“We do not think that we can expect a sustainable rally in the market in the near future,” Morgan Stanley’s expert review, quoted by Bloomberg, says. is already reflected in market statistics, and China is a particularly important contributor.”
The cost of November futures for Brent crude on the London ICE Futures exchange by 8:10 am CST on Tuesday is $93.7 per barrel, which is $0.3 (0.32%) lower than the closing price of the previous session. As a result of trading on Monday, these contracts rose by $1.16 (1.3%) to $94 per barrel.
The price of futures for WTI oil for October in the electronic trading of the New York Mercantile Exchange (NYMEX) is $87.58 per barrel by this time, which is $0.20 (0.23%) lower than the final value of the previous session. By the close of the market the day before, the value of these contracts increased by $0.99 (1.1%) to $87.78 per barrel.
The US reaffirmed on Monday that it does not see the possibility of reaching an agreement on the restoration of the Joint Comprehensive Plan of Action soon.
US Secretary of State Anthony Blinken said that he considers the restoration of the JCPOA in the near future unlikely due to Tehran’s position. Last Saturday, Germany, France and the UK expressed “serious doubts” about Iran’s sincerity in seeking to renew the JCPOA and warned that the country’s stance jeopardized the prospects for a deal.
Seven more ships carrying corn and wheat left the ports of Ukraine on Tuesday, the Anadolu agency reports, citing the Turkish Defense Ministry.
The export of agricultural products from three Ukrainian ports continues under the agreement on the corridor for grain, concluded on July 22.
Earlier, the UN reported that the Joint Coordinating Center (JCC) allowed seven vessels with corn and wheat to leave the ports of Ukraine on Tuesday as part of the Black Sea Grain Initiative. According to the UN, the ships Captain Dimitrios (65 thousand tons of corn), Super Saka (29 thousand tons of wheat and 21 thousand tons of corn), Fanaria (18 thousand tons of wheat) will go to Spain. The ships Propus (8.5 thousand tons of corn), Ata Ocean (6.3 thousand tons of sunflower oil) and Greifswald (492 tons of corn) are planning to head to Turkey. In addition, the Yada Team ship will deliver 64,951 tons of corn to Israel.
In Istanbul on July 22, with the participation of the UN, Ukraine, Turkey and Russia, two documents were signed on the creation of a corridor for the export of grain from three Ukrainian ports: Chernomorsk, Odessa and Yuzhny.
The authorities of Kyiv will assist in the restoration of cities and towns of the metropolitan agglomeration, which suffered the most during the defense of Kyiv from Russian invaders.
With such a proposal, the mayor of the capital, Vitali Klitschko, addressed the heads of local communities, the press service of the mayor reports.
“Jointly defending the capital from the Russian aggressor, we once again became convinced of the importance of our unification into the Kyiv Agglomeration Association, which we created in 2019. We united not only in the defense of Kyiv and our communities, but also in providing volunteer assistance, supporting the military and temporarily displaced citizens. I am convinced that we must join forces in rebuilding, restoring our cities and towns, housing and infrastructure for our citizens,” he said.
In this regard, Klitschko put forward a proposal to the territorial communities for help from the center of the Kyiv agglomeration – Kyiv.
“In particular, in the form of a subsidy for the restoration of facilities damaged by Russian barbarians during the hostilities in the suburbs of Kyiv in February-March 2022. Because our communities together make up a big Kyiv, and we must jointly restore and develop it,” he emphasized.
Chinese President Xi Jinping will visit Uzbekistan and Kazakhstan this week, Chinese media reported on Monday, citing the Chinese Foreign Ministry.
Xi will attend the Shanghai Cooperation Organisation (SCO) summit in Samarkand and will visit Kazakhstan from September 14 to September 16, the Chinese Foreign Ministry said.
As previously reported, Russian President Vladimir Putin plans to hold a meeting with Chinese President Xi on the sidelines of the SCO summit in Samarkand.
The SCO summit will be held in Samarkand on September 15-16.
Against the backdrop of the ongoing Russian military aggression in Ukraine, Indian Ambassador to Ukraine Harsh Kumar Jain handed over to the Ministry of Health of Ukraine the 12th cargo of humanitarian aid, which included medicines and medical equipment, including hemostatic bandages.
According to a press release from the Indian embassy given to the Interfax-Ukraine agency, India had already transferred 97.5 tons of humanitarian aid to Ukraine, which consisted of medical products, blankets, tents, medical products and medical equipment.
“India remains committed to expanding its humanitarian support to the people of Ukraine during this challenging time,” said Ambassador Jain.
In addition, several Indian pharmaceutical companies donated medicines, emergency supplies, food and financial assistance to Ukraine in the amount of more than $8 million.
The TAS Agro agrarian group has appointed Valeriy Novitsky as the CEO of the holding, where he previously served on the Board of Directors, its Facebook page reported on Monday.
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, Novitsky owns 40% in the authorized capital of Bilzerno LLC (Misaylovka village, Kyiv region) and 55% in TN Product LLC (Kyiv), while the remaining 60% and 45% in these legal entities belong to the Ukrainian businessman Sergey Tigipko.
Before the war, TAS Agro cultivated 83 thousand hectares in Vinnitsa, Kyiv, Kirovograd, Chernihiv, Nikolaev, Sumy, Kherson and Dnepropetrovsk regions, was engaged in dairy farming (up to 5.5 thousand heads of cattle), owned six elevators with a one-time storage capacity of 250 thousand tons.
The TAS Group was founded in 1998. Her business interests cover the financial sector (banking and insurance segments) and pharmacy, as well as industry, real estate, and venture projects.
The founder of “TAS” is Sergey Tigipko.
