Oil prices are down on Friday, but finished the week in the plus.
The price of April futures on London’s ICE Futures Exchange for Brent was $84.32 a barrel by 7:15 a.m. on Friday, down $0.18 (0.21%) from the previous session’s close. Those contracts fell $0.59 (0.7%) to $84.5 a barrel at the close of trading on Thursday.
The price of WTI futures for March crude oil at NYMEX fell by $0.29 (0.37%) to $77.77 per barrel by that time. By the close of previous trading the cost of those contracts declined by $0.41 (0.5%) to $78.06 a barrel.
Both Brent and WTI gained more than 5% YoY on optimism about prospects for Chinese demand, which rose after Saudi Arabia raised March prices for its main oil grade supplied to Asia.
At the same time, traders fear that the protracted tightening of monetary policy in the U.S. could weaken the country’s economy and, consequently, fuel consumption.
Earlier this week, several U.S. Central Bank executives made it clear that they believe it is necessary to continue raising the U.S. benchmark interest rate because the fight against high inflation is not over.
“Oil will continue to rise in price if fears of a downturn in the economy subside,” said CITIC Futures Co. Gui Chenxi, cited by Bloomberg. – The market is hoping for higher energy demand as we see mobility growth in China, as well as in the U.S. and Europe.
After two years with a small-scale event, limited by health regulations due to COVID 19, the Carnival of Venice 2023 returned to Venice in all its unfading splendor for inhabitants and guests of the most romantic city in Italy, giving journalists reason to compare it to the mythical phoenix bird rising from the ashes.
Therefore, the color and sound performance of the opening in February on the canals of this eternal holiday had not only a special charm, but also a clear symbolic meaning that life wins. And Venetians make no secret of their joy that the carnival is once again taking place in its traditional form.
“It is a moment of self-identification for the people of Venice and for Venetians all over the world,” says Giovanni Gusta, municipal councilor in charge of Venice’s traditions.
The city on the water is dressed in bright colors, and its inhabitants in fantastic costumes that make you think everything happens in a fairy tale. And everywhere there are masks and masks. In public, in shop windows, on souvenir piles for tourists. Masks in the form of wall decorations, brooches, hairpins, bracelets and magnets.
A resident of Milan, Massimo Candelora, who came to Venice especially for the Carnival, claims that the masks evoke memories and nostalgia of the Venetians. After all, they have been worn in Venice since ancient times. “Today I’m in Venice, and I’m wearing a costume and a ‘bauta’ mask, a typical Venetian mask. It is a simple mask, but it could be worn even when other masks could not be worn. That’s why it is a unique and typically Venetian mask,” the Milanese explains.
A bauta is a papier-mache mask, usually white in color. It has a quadrangular shape, and its half, which covers the lower part of the face, is clearly protruding forward, leaving enough space to be able to drink and eat without removing the mask. In addition, this shape also changes the speaker’s voice, further enhancing his anonymity.
Over time, masks became an attribute of carnival. And before that, in economically prosperous Venice, hiding a person’s identity was commonplace in everyday life. It played a pragmatic role as people hid from competitors, envious people and stooges their deals, which were not necessarily in accordance with the laws of the time.
The carnival festivities will last until February 21, and until then, people in colorful costumes and the most unimaginable masks will be seen in Venice as a natural part of the cityscape, the local order and traditions.
Venice has regained its soul with the revival of carnival, say the Venetians.
London and Kiev intend to co-host the Ukraine Reconstruction Conference scheduled for June, according to a joint British-Ukrainian declaration issued Wednesday.
“We will co-host the Ukraine Recovery Conference in London on June 21-22. The UK will continue to provide Ukraine with access to British private financing, insurance, technical expertise,” the document, which was adopted following talks between British Prime Minister Rishi Sunak and Ukrainian President Vladimir Zelensky, stressed.
At the same time, the British side recalled that over the past 12 months “military, humanitarian and economic aid from the UK to Ukraine amounted to almost 4 billion pounds”.
As reported, the last conference on the reconstruction of Ukraine was held in Lugano (Switzerland) in early July 2022, and then it was announced that in 2023 a similar conference will be held in London.
The Qatari authorities have updated the rules of entry for foreign tourists – from February 1, 2023, travelers will have to show local medical insurance to enter the country.
“According to information, from February 1, 2023, all tourists coming to Qatar must have a health insurance policy issued by health insurance companies registered with the Ministry of Health of Qatar (MOPH Qatar). The insurance is issued for 30 days, regardless of the duration of the vacation, its cost is 50 Qatari rials. It only covers emergency services and accidents,” the statement said.
“Host companies recommend purchasing insurance in advance to avoid delays upon arrival in Qatar. It is reported that tourists can buy the necessary insurance online (on the website of the Qatar Ministry of Health). Insurance can also be purchased upon arrival at Hamad International Airport in Doha,” the statement said.
President of the European Parliament Roberta Metsola believes Ukraine will become a member of the European Union.
On Thursday in Brussels at the European Parliament, welcoming Ukrainian President Volodymyr Zelensky, she said: “I am proud to say that this House of European Democracy, its members, our European Union – have always stood with you. We understand that you are fighting not only for your values, but for ours. For those ideals that bind us as sisters and brothers. That make us, all, European. Because Ukraine is Europe and your nation’s future is in the European Union.”
The President of the European Parliament called for the EU to show support for Ukraine “not only with words but with action: with the political will to ensure easier trade with the fastest possible accession process. With funds for your people, with help in reconstruction, with training for your troops. With military equipment and defense systems you need to win.”
Metsola also said the world is going through “extraordinary times” right now. “It has been almost one year since the brutal, illegal invasion of sovereign Ukraine by Russia. In all that time, Mr President, your leadership has inspired your people and inspired every corner of the globe. When the world thinks of Ukraine they think of heroes fighting the odds, of David beating Goliath,” she said.
The President of the European Parliament also called the decision of the Ukrainian leadership to send aid to the victims of the earthquake in Turkey and Syria “real solidarity.”
Dniprovskyi Steel (DMZ, formerly Evraz-DMZ), which is part of DCH Steel group of DCH businessman Oleksandr Yaroslavskyi, has transferred heating furnaces of rolling shop #1 to natural gas instead of blast furnace gas due to idle blast furnaces and shortage of coke oven gas.
According to DCH Steel corporate newspaper, two heating furnaces of PC-1 have been switched to natural gas since October 2022, and since January 2023 six furnaces involved in production have already been switched to this energy carrier.
“The energy resource is very expensive, so the focus is on continuous monitoring of natural gas costs per ton of production for each well. Thus, we strive to monitor how different indicators influence specific gas consumption: technical condition of the equipment, duration of air alarms, during which the metal is in the furnace overtime, human factor and others,” explains Director for Quality and Technology Yuriy Kravchenko, who is quoted by the newspaper.
According to him, the situation is analyzed on a daily basis and optimal solutions are developed. In particular, in January the target indicator of natural gas utilization was reached and there is a potential for its reduction.
“It is clear that the transfer of furnaces to natural gas is a forced decision, but this way we ensure the work of PC-1 and its independence from domestic resources, as there is no blast furnace gas, and coke is not enough due to small production volumes at KHP (coke oven division),” states Kravchenko.
And added that blast furnace production is currently idle due to a shortage of raw materials and blocked ports. In this case, the rolling mills are working on give-and-take raw materials, in particular, the first rolling campaign at PC-1 started on January 18, 2023.
DCH specializes in the production of steel, pig iron, rolled steel and products from them. On March 1, 2018, DCH Group signed an agreement to purchase Dneprovsky Metallurgical Plant from Evraz.
Sukhaya Balka mine is one of the leading mining companies in Ukraine. It mines iron ore using the underground method. The mine includes the Yubileynaya and Frunze shafts. Frunze.
DCH Group acquired the mine from Evraz Group in May 2017.
