Oil prices continue to fall on Wednesday evening after the release of data on oil inventories and inflation in the United States.
The price of July Brent futures on London’s ICE Futures exchange stands at $76.19 a barrel by 5:54 p.m. on Wednesday, down $1.25 (1.61%) from the previous session’s closing price.
The price of WTI crude futures for June trading on the New York Mercantile Exchange (NYMEX) was down $1.41 (1.91%) to $72.3 a barrel by that time.
U.S. commercial oil inventories rose 2.95 million barrels to 462.58 million last week, according to a weekly report from the nation’s Energy Department. Experts had expected a 2.5 million-barrel drop in inventories.
“Downside risks to liquid fuel demand growth will be present through the end of 2024, but we expect seasonal increases in oil consumption and OPEC production cuts to put some upward pressure on oil prices in the coming months,” the U.S. Department of Energy’s Energy Information Administration (EIA) noted.
Consumer prices in the U.S. rose 4.9% in April compared to the same month last year, according to Labor Department statistics. The consensus forecast cited by Trading Economics assumed inflation at 5 percent, the same as in March.
Inflation is a key indicator that markets watch because it plays an important role in the Federal Reserve’s monetary policy decisions.
The EU is considering imposing sanctions against dozens of companies from China, Iran, Kazakhstan and Uzbekistan that cooperate with Russia, Reuters reports.
The agency cites diplomatic sources familiar with the European Commission’s draft proposals. Inclusion of these companies in the “black list” is possible within the framework of the prepared 11 package of anti-Russian sanctions.
In late April, Assistant Secretary of the U.S. Treasury Elizabeth Rosenberg during a visit to Kazakhstan warned of the growing risks of secondary sanctions against Kazakh companies and banks that help Russia evade Western sanctions imposed in response to the full-scale war against Ukraine unleashed by Russia.
CHINA, EU, IRAN, KAZAKHSTAN, SANCTIONS, UZBEKISTAN
A conference titled “Rebuilding Ukraine: Research-Based Renewal” will be held in London on May 15-16, co-organized by the Presidential Foundation for Education, Science and Sports Support, according to the official portal of the Ukrainian president.
“The Presidential Foundation for the Support of Education, Science and Sport together with the Royal Society of London and the University Political Engagement Network (UPEN) will organize the conference “Rebuilding Ukraine: a renewal based on research,” the press service said in a statement on Wednesday.
The event will reportedly be held May 15-16 in London. The conference is aimed at supporting Ukrainian scientists, strengthening and developing long-term cooperation between government and academic institutions of Ukraine and Great Britain.
“For the first time in the history of Ukraine’s independence, the Royal Society of London will support Ukrainian scientists in conducting research that will form the basis of policy development as part of programs to rebuild our country,” the president’s press service notes.
The conference will be attended by a number of scientists from Ukrainian and British universities and relevant deputy ministers who will present priorities for research that will form the basis for making decisions related to the economic challenges and needs of Ukraine during and after the war in terms of health and well-being, planning “green” recovery and human development.
The academic community of Ukraine will be represented at the conference by representatives of the Odessa National Medical University, Bogomolets National Medical University, Ukrainian Catholic University, Kiev National University of Civil Engineering and Architecture, Kiev National Shevchenko University, and American University Kiev.
“Since the level of complexity of the challenges and conditions in which Ukraine is now developing exceeds all typical tasks, we really need better minds and a culture of interaction. In the future, a pool of talent and an “economy of trust” will play a special role in Ukraine’s recovery. That is why from our side the conference will be headed by the Ministry of Education and Science and the Ministry of Economy”, – said Olga Budnik, advisor – commissioner of the President of Ukraine on the Foundation for Support of Education, Science and Sports, which is quoted by the press service.
The first day of the conference will be held in the form of panel discussions and debates, the second day – in the form of round tables with experts who will form the further plan of joint actions.
The event is sponsored by Universities UK International, Research England and the British Council with the support of the Academy of Medical Sciences, the British Academy and the Royal Academy of Engineering.
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On May 18, 2023, the capital’s Club of Experts will host a bright event for wine lovers – Wine Evening “Consumer Tasting of the Best Craft Wines of Ukraine-2023”. The event will feature the products of the best Ukrainian winemakers based on the results of the VIII All-Ukrainian Tasting Competition “Variety and Terroir. Micro winemaking. Unbreakable”, which took place on April 1, 2023.
According to Natalia Blagopoluchna, President of the Ukrainian Association of Winemakers and Sommeliers, the Wine Evening will create an opportunity for each guest to try themselves as a wine expert and taster, gain rich experience and taste the unique flavors of the best Ukrainian wines.
“Wine Evening provides a great opportunity to discover the diversity of Ukrainian wine. You may already be familiar with some of these brands, but the tasting is a chance to taste them in a new light, compare them with other wines, listen to the experts’ opinions and gain new knowledge about winemaking,” she said.
In his turn, the founder of the Club of Experts, Maksim Urakin, emphasized that the Tasting Evening is an event where you can meet like-minded people, communicate with experts, exchange experience, ideas and impressions. It is a place where new business relationships and partnerships are created, new ideas and projects emerge.
“Our competition for the Best Wine of the Wine Evening is of great interest to the guests of the evening. The producer of the most delicious wine, determined by the participants of the event, will receive a Diploma from the Club of Experts. This competition not only raises the mood, but also creates friendly competition between producers, encouraging them to continuously improve,” he emphasized.
In addition, according to Maksim Urakin, today more and more people in the world are showing interest in craft wines and want to learn more about the history and technology of this beverage. Events such as the Wine Evening are becoming important and necessary, they help to develop wine culture, open new horizons for winemakers and consumers, and make a huge contribution to the formation of the Ukrainian wine market.
Guests will be invited to taste the winning wines accompanied by craft gastronomy. The program of the evening includes the best sparkling rosé wine of 2021 from TM My Wine and Eduard Gorodetsky, the best Riesling of 2021 from Vladimir Simakin, Chardonnay of 2022 from TM Babchuk Winery, and many others. Full list of winners of the VIII All-Ukrainian Tasting Competition “Variety and Terroir. Micro winemaking. Unbreakable”:
1. Nomination “Sparkling wines” – “Sparkling pink, 2021”, TM “My Wine”, Eduard Gorodetsky
2. Nomination “Best Riesling” – “Riesling, 2021”, Vladimir Simakin
3. Nomination “Best Chardonnay” – “Chardonnay, 2022”, TM “Babchuk Winery”
4. Nomination “White Local Variety” – “Zagrei, 2022”, National Scientific Center “V.E. Tairov Institute of Viticulture and Winemaking
5. Nomination “Orange wines” – “Orange, 2021”, TM “Kovacs Wines”
6. Nomination “Pink wines” – Pinot Noir, 2021″, TM “My Wine”, Eduard Gorodetsky
7. Nomination “Best Pinot Noir” – “Pinot Noir, 2020”, TM “46 Parallel” – gold medal
8. Nomination “Best Merlot” – “Merlot, 2020”, TM “NAROVYLO WINERY”
9. Nomination “Best Cabernet Sauvignon” – “Cabernet Sauvignon, 2021”, TM “Mon Crafto”
10. Nomination “Red local variety” – “Aliberne, 2020”, TM “NAROVYLO WINERY”
11. Nomination “Red Blend” – “KS/KF/Merlot, 2020”, TM “NAROVYLO WINERY” – Grand Prix of the Competition (the best wine of the Competition), 100 points from the Chairman of the Jury Ricardo Nunez!
12. Nomination “Dessert wines” – “Muscat of the Carpathians, 2014”, TM “Kovach Wines”
It should be noted that each nomination represents unique wines that have been recognized as the best in their categories.
The cost of participation in the event is 1000 UAH, which includes tasting of all presented wines and delicious culinary accompaniments from craft chefs. This event will be a real treat for gourmets and wine lovers, as well as a great opportunity for winemakers to present their products to a wide range of professionals and wine connoisseurs.
The organizers of the Wine Evening are:
1. Ukrainian Association of Winemakers and Sommeliers;
2. Club of experts.
Information Partners: Interfax-Ukraine news agency; Open4business Internet portal.
General partner: UKRSADVINPROM.
Speaker of the Wine Evening: President of the Ukrainian Association of Winemakers and Sommeliers, wine expert, head of the First Sommelier School in Ukraine – Natalia Blagopoluchna.
Address of the event: 51/1a Tyutyunnyk St., Kyiv, Ukraine
Phone number for accreditation 0661480354
Do not miss the unique opportunity to join the Wine Evening “Consumer tasting of the best craft wines of Ukraine-2023”. For those who appreciate the culture of wine, this is a great opportunity to immerse yourself in the fascinating world of winemaking, meet those who share your passion, and discover new horizons of taste.
CLUB OF EXPERTS, craft wine, EXPERTS, Natalia Blagopoluchna, UKRSADVYNPROM, WINE, wine competition, Wine Evening, WINEMAKING, МАКСИМ УРАКИН
