Saudi Arabia will increase prices in August for all oil grades for US, Northwest Europe and Mediterranean customers as well as for some grades for Asian customers.Saudi Arabia raises oil prices slightly for US and Europe
The most significant price increases will be for customers from the Mediterranean (1-1.1%) and Northwest Europe (0.8%). For the US, Saudi oil will rise by 0.1%.
The cost of the main grade supplied to Asia, Arab Light, will increase by $0.2 per barrel next month. As a result, it will be $3.2 a barrel more expensive than the Oman and Dubai oil basket.
EUROPE, OIL, SAUDI ARABIA, US
The National Bank of Ukraine (NBU) announced on its website that the number of non-banking financial market participants decreased by 20 participants to 1265 in June 2023.
At the same time, it noted that the number of banks in June has not changed and amounted to 65.
As of June 30, 103 non-life insurers (104 in May) and 12 life insurers, one insurer with special status, 164 pawnshops (there were 166), 151 credit union (153), 82 leasing companies (85), 629 financial companies (643), 56 insurance brokers and 67 collection companies (66) worked in the non-bank market.
In addition, the market is recognized 25 banking groups and 22 non-banking financial groups (the number has not changed).
During June, 20 participants of the non-banking financial services market were excluded from the registers: four financial companies, one insurer, two pawnbrokers, one credit union and one lessor were excluded from the registers voluntarily, and the other eight financial companies, one credit union and two lessors – forcibly. During June, one collection company was included in the registry.
Besides, according to the law “On Payment Services” two financial companies were excluded from the State Register of Financial Institutions and included into the Register of Payment Infrastructure in the status of payment institutions.
According to the NBU, in June the licenses of financial payment services representatives were issued to four financial companies and denied to one. At the same time, six financial companies, one insurer, two pawnshops, one CC and one leasing company had their licenses revoked on the basis of applications submitted by them, and one financial company was forced to cancel the license as an enforcement measure.
As of June 30, 32 resident payment systems and 16 international payment systems operate in the payment market.
In addition, there are 17 payment institutions (+2 to May), 10 financial institutions with the right to provide payment services (+2), three banks – issuers of electronic money and a postal operator.
Other entities operating in the payment market include 42 commercial agents (against 37 in May) and 35 technological operators of payment services
In June, the National Bank received 287 requests for registration and licensing actions from market participants. The number of requests on financial companies, pawnshops and lessors amounted to 118, on credit institutions (banks and credit unions) – 104, insurers – 62, payment institutions – 3.
Astarta” agricultural holding, the largest sugar producer in the country, has started harvesting wheat and rapeseed in Poltava region. The harvesting process in the Western region will start in the middle of July, the press service of the holding announced on Facebook on Friday.
According to the message, Astarta plans to harvest early grains from an area of almost 57,000 hectares in 2023, including winter wheat from 43,000 hectares.
“Despite the existing challenges – more than 400 mobilized workers, a serious increase in the cost of production resources, the work in the mode of constant air rapture, the possibility of overlapping reaping of winter rape and wheat – we have qualitatively and timely prepared for harvesting. We carried out repairs, the necessary amount of agricultural equipment is ready, we have good condition of crops and good yield potential. And most importantly, the people – there are preserved and well prepared teams “- said the director of agricultural production Vadim Skrypnyk.
Astarta” said that they managed to sell almost the entire harvest last year, so grain elevators of the holding are ready to receive the new harvest. During the season of 2023, the harvesting will be accompanied by the implementation of digital products AgriChain, in particular the new module of AgriChain Logistics, aimed at the automation and efficient management of all processes.
“Together with agronomics, logistics, elevator and commercial services of “Astarta” we developed a mathematical model that comprehensively solves the transport task and allows making the most optimal plan of product placement on the company’s own and third-party elevators or, if necessary, involve reserve storage options,” – explained AgriChain Director Natalia Bogacheva, emphasizing the importance of this issue during the harvesting campaign.
According to her information, the IT-division reinforced the control system of collection, transportation and delivery to the place of harvest unloading, and it also brought the transportation routing to a new level, the system of access to loading trucks via NFC technology, the digital control system “friend-or-foe”, the notification system and rapid response to abnormal situations on the routes.
During the current harvesting campaign it is also planned to implement hourly dispatching of product delivery from the field to the storage locations through the work orders system, which will help to avoid queues, idle time, increase vehicle turnover and choose the best route.
“Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It consists of six sugar factories, farms with land bank of 220 thousand hectares, dairy farms with 22 thousand cattle, oil extraction plant in Globino (Poltava region), seven elevators and biogas complex.
Agroholding increased its net profit in 2021 14 times compared to 2020 – up to EUR 122.5 mln, EBITDA – 1.8 times, up to EUR 201.5 mln. Its revenue increased by 18.2% up to EUR 491.35 mln, one third of which (EUR 170 mln) was generated by sugar production and sales.
The market is supported by the data on decrease of reserves in the USA, published the day before, as well as the information on increase of prices for most grades of oil by Saudi Arabia for the buyers from all regions.
The September futures for Brent crude oil on London’s ICE Futures Exchange stood at $76.85 per barrel by 8:15 a.m. on Friday, $0.33 (0.43%) above the previous session’s closing price. Those contracts fell $0.13 (0.2%) to $76.52 a barrel on Thursday.
The price of WTI futures for August at electronic trades of NYMEX grew by $0.32 (0.45%) up to $72.12 per barrel by that time. The price of these contracts remained practically unchanged the day before and amounted to $71.8 per barrel by market close.
According to U.S. Department of Energy, last week commercial oil inventories in the country decreased by 1.5 mln barrels to 452.2 mln barrels. Gasoline inventories decreased by 2.5 million barrels and distillates by 1 million barrels.
Experts polled by S&P Global Commodity Insights, on average, predicted a 3.6 million barrels reduction of oil reserves, 1.7 million barrels of gasoline and 700,000 barrels of distillates.
Stocks at Cushing terminal, which stores crude oil traded on Nymex, decreased by 400,000 barrels to 42.8 million barrels over the week.
Saudi Arabia will raise prices for all grades of crude in August for customers in the United States, Northwest Europe and the Mediterranean, as well as some grades for customers in Asia, state-run Saudi Aramco said Thursday.
“Macroeconomic uncertainty and concerns about the pace of China’s economic recovery are impediments to a further rebound in oil prices,” said ING analyst Warren Patterson.
“Expectations of a stronger Federal Reserve hawkish mood are also not supporting risk appetite,” Market Watch quotes the expert as saying.
Agrarians from 12 regions began harvesting early grain and leguminous crops and threshed 1.24 million tons of grain with a yield of 33.2 centners / ha from 308.2 thousand hectares (3%), the press service of the Ministry of Agrarian Policy and Food.
According to the report, the pace of grain harvesting is leading agrarians Nikolaev region, which harvested grain from 118 thousand hectares (19%), by volume Odessa agrarians threshed 468.8 thousand tons. In total in Ukraine barley was harvested on 235 thousand hectares, which is 16% of UAH of which 805.8 thsd. tons were threshed at the yield of 34.3 cwt/ha.
Wheat was harvested from 51.4 thousand hectares (1%). With a yield of 33.5 c/ha it was threshed 172 thousand tons.
Peas were harvested from 21.7 ha (15%). With a yield of 21.1 centners/hectare it was threshed 45.8 thousand tons.
Agrarians from five regions have also begun to harvest winter rape: 86.2 thousand tons of seeds have been harvested. winter rape: 86,2 thousand tons of seeds at the yield of 18,1 centners/hectare on the area of 47,7 thousand hectares (3%).
As reported, winter wheat crops this season amounted to 4166 Hectares (-834 thsd. ha versus the previous one), winter barley – 536 thsd. ha (-255 thsd. ha), rape – 45 thsd. ha (-255 thsd. ha). thousand hectares), rape – 1374 thousand hectares (+110 thousand hectares).
Traffic on the two newly constructed exits of the Darnytsia Bridge on the left bank of the Dnipro River towards the Paton Bridge and Osokorky is now open, Deputy Prime Minister and Minister of Communities, Territories and Infrastructure Oleksandr Kubrakov said on Thursday.
“With the opening of the Darnytsia bridge, our fight against long-term construction projects and emergency bridges is not over. Our goal is to see the real state of the bridges and develop concrete solutions to protect the transport infrastructure and maintain its proper condition,” Kubrakov wrote on his Facebook page on Thursday.
According to him, the opening of the exits will allow for a direct connection between the residential areas of Osokorky and Pozniaky and the Kyiv City Express platform and Bereznyaki.
It is specified that the bridge, which is on the balance sheet of Ukrzaliznytsia JSC, was completed at public expense.
As reported, construction on the Darnytskyi Bridge was restarted in 2021. Due to the full-scale invasion in March-April last year, the work was suspended, but resumed in May 2022.
The Darnytsia Bridge has 6 lanes and a capacity of 35 thousand vehicles per day.
