Latest News
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A blast in a village in Myanmar has reportedly killed 55 people and injured dozens of others
A rebel army claimed that at least 55 people died in an explosion in Kaung Tat, Myanmar. The blast was caused by a?accidental explosive of material to be used in mining. The Ta'ang National Liberation Army (Ta'ang NLA), which controls the village close to the Chinese border and is currently in a truce with the Myanmar military, has confirmed that there have been fatalities without specifying how many. BBC and Shwe?Phee Myay News Agency, a local news outlet, reported that at least 55 people, including 30 women and 25 men, had been killed, and dozens of others were injured. The group expressed its condolences in a telegram post to the families of those killed, injured and damaged by the explosion. The explosion, which occurred at 12 noon local time (0530 GMT), is being investigated. Anyone found responsible will be held accountable. The statement said that the affected families would receive immediate relief, rehabilitation and healthcare. Reporting by Chandni Ghoshal and Devjyot Abraham Writing by Rhea Rosa Abraham Editing and Barbara Lewis by David Goodman
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All bodies found in Washington State chemical accident: 11 confirmed dead
The death toll in the United States from a ruptured?chemical tank has risen to 11. The death toll from a?chemical tank rupture in the United States has risen to 11 as crews have recovered all nine bodies, according authorities. The tank that contained "white liquor", a chemical mixture of sodium hydroxide and sulfide, used to make 'paper pulp, imploded on Tuesday at the Nippon Dynawave Packaging plant. Kurt Stitch, Cowlitz 2 Fire & Rescue deputy chief, stated that the search for missing persons continued throughout the week as crews cleared debris from indoor?areas, and drones were flown over the perimeter. Officials have confirmed that the ruptured tank held about 900,000.000 gallons of white liquor. Tests also showed contamination of the nearby Columbia River. However, no negative health effects were detected in the air or drinking water of the city of Longview. Nippon Dynawave Packaging, Japan's wholly-owned subsidiary, was established in 2016 by Nippon Paper Industries, Japan's second largest paper manufacturer. The company acquired the Longview plant from Seattle-based Weyerhaeuser Timber for $225m. (Reporting and editing by William Mallard in Bengaluru)
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PSG wins the Champions League with a shoot-out victory over Arsenal
Paris St Germain reclaimed their Champions League 'title' with a penalty-shootout victory? over Arsenal, after a 1-1 stalemate in a tense final at the Puskas arena on Saturday. Gabriel, of Arsenal, blasted his penalty over the?crossbar to give PSG a?4-3 victory? on spot-kicks. The French champions had the worst start possible after Kai Havertz scored an Arsenal goal?in just the sixth minute. He whipped a?rising shot?past PSG's goalkeeper Matvey Safonov. The PSG defence looked to be the most formidable in Europe, but Ousmane dembele equalized from the spot after a foul was committed by Cristhian Moquera against Khvicha Kvaratskhelia in the 65th minutes. PSG won the Champions League trophy for the second consecutive year after a scrappy extra-time period that could not separate both sides. (Reporting and editing by Christian Radnedge.)
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Russia's Rosatom says Ukrainian drone struck Zaporizhzhia nuclear plant
Rosatom, the Russian state-owned nuclear energy company, said that a Ukrainian drone 'hit' the Zaporizhzhia nuclear 'plant', Europe's biggest, on Saturday. The drone did not damage any key equipment but left a hole in a wall of the turbine hall. The building housing the turbine hall of Power Unit No. 6 was struck by a Ukrainian combat drone kamikaze this afternoon. The explosion was caused by the subsequent detonation of 6. The explosion did not cause any damage to the primary equipment, but it tore through a wall in the turbine hall. Ukraine has not yet commented. Likhachev described the incident as "deliberate". The Zaporizhzhia Nuclear Plant was captured by Russia on March 20, 2022. It remains close to the frontline of the Zaporizhzhia area in the south-east Ukrainian region. It has?come in for some fire at times during the four-year war, raising?fears about a nuclear incident. Likhachev stated, "We are a step closer to an incident which?will affect those who live beyond the borders of 'Russia and Ukraine but still think they are totally safe." (Reporting by Anastasia Lyrchikova. Felix Light wrote the article. Mark Potter (editing by Felix Light)
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Authorities claim that Ukrainian drones have struck a port and oil depot in southern Russia.
Authorities in the southern regions Rostov-Krasnodar reported that Ukrainian drones had struck a tanker overnight at Taganrog, a Russian port. They also reportedly hit an oil depot?in?Armavir. Yury Slyusar, Governor of the Rostov Region, said via Telegram that the fires in Taganrog's port and on the tanker had been put out. No oil spillage was reported. He said that two people were injured. Svetlana kambulova, the mayor of the?city, announced that a local emergency state, which was introduced on May 27th, had been prolonged. The Russian Defence Ministry announced that its forces?had?downed 127 drones over night. Authorities in Armavir in Krasnodar, which has 185,000 residents, reported that the fire in an oil depot located in the industrial zone of the city had been put out and there were no injuries. Slyusar, governor of Rostov, said that nearly 50 drones had been brought down in the region. Attacks were reported "across" the province, which borders Ukraine’s Donbas and is the focal point of the fighting between Russia & Ukraine. He said that only minor damage had been reported outside Taganrog. The commander of Ukraine’s drone forces claimed that they had hit Taganrog as well as an oil depot in Feodosiya, in Russian-controlled Crimea. He did not mention a strike against Armavir. Reporting by Felix Light, Writing by Ros Russell, and Kevin Liffey.
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Authorities claim that Ukrainian drones have struck a port and oil depot in southern Russia.
Authorities in the southern regions Rostov and Krasnodar reported on Saturday that Ukrainian drones had struck a tanker overnight at the port of Taganrog in Russia and also hit an oil depot in Armavir. Yury Slyusar, Governor of Rostov Region, said via Telegram that the fires in Taganrog (a city with a population of 240,000) and on the tanker had been put out. No oil spillage was reported. He said that two people were injured. Svetlana kambulova, the mayor of the?city, confirmed that a local state of emergency introduced on May 27 had been extended. Authorities in Armavir in Krasnodar, a city with a population 185,000 people, reported that a fire at an oil depot located in the industrial zone of the city had been brought under control. Slyusar, Rostov's governor, said that nearly 50 drones were downed by the region. Attacks have been reported in the entire province which borders Ukraine’s Donbass, the focal point of the fighting between Russia and Ukraine. Only minor damage had been reported outside Taganrog. Reporting by Felix Light, Writing by Ros Russell; Editing by Ros Russel
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Concerns about consumer demand lower LIVESTOCK CME cattle futures
Chicago Mercantile Exchange?cattle futures and feeder cattle?ticked down on Friday due to a technical setback.?As a result, 'Americans' concerns about their ability to afford beef grew. Gas prices are high and consumer sentiment is gloomy, raising fears that Americans will reduce their beef purchases. Beef is the most expensive protein in grocery stores. Dan Basse is the president of 'AgResource' Company. He said that they are 'looking at consumers' disposable income and wondering if they will 'pay higher beef prices'. Oil futures dropped more than 2% Friday, marking their steepest weekly decline since early April. Traders awaited news that the U.S.?Israel and Iran reached an agreement on a truce. Live cattle for August fell by 1.95 cents, to 239,05 cents a pound. August feeder cattle futures dropped 4.60 cents at 348.425 per pound. The U.S. Department of Agriculture reported on Friday that the value of 'boxed beef' had dropped by 26 cents, to $392.06 a hundredweight. Select?cuts, however, fell by $2.26, to $382.32 a hundredweight. According to HedgersEdge.com, the Packers lost about $266.90 per head of cattle they slaughtered last Thursday. This is an improvement from the previous week. CME's lean-hog market saw a drop of 2.625 cents to 99.50 cents for each pound. According to USDA, the wholesale price of pork cutout has risen 91 cents per cwt to $100.02. Reporting by Heather Schlitz, Editing by Daniel Wallis
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IMF, World Bank and others warn that Middle East war strains energy supplies
The heads of the International Energy Agency, the International Monetary Fund (IMF), the World Bank, and the World Trade Organization warned on Friday that the war in the Middle East is straining the global energy supply and affecting vulnerable economies the most. The U.S. and Israel war against Iran has disrupted the trade, rattled the financial markets, and raised 'concerns about global energy supply, especially through Strait of Hormuz. This is a major route for oil and natural gas shipments. Global?institutions stated that the world's economy was resilient. However, the conflict disproportionately affected poorer countries by increasing fuel and fertilizer prices, increasing uncertainty, and creating job risks. In a joint press release, the heads of these groups met Thursday to discuss the economic impact of war. U.S. president Donald Trump said that he will decide on Friday whether to extend the ceasefire with Iran. This would include?opening up the waterway? and dismantling Tehran’s nuclear weapons capability. The institutions warned that if shipping 'flows' do not return to normal, the rapid depletion in global oil stocks ahead of the peak summer 'oil demand - in the Northern Hemisphere - would pose a heightened risk for fuel security and market conditions.
Europe's October LNG imports show rare increase, Asia's dip: Russell
Europe's. imports of liquefied gas increased in October for the very first. month in 10 while those in Asia dropped for the very first time since. June, but not by enough to stop the combined total from. increasing.
The increase in Europe's imports and the decline in Asia's is a. turnaround of the recent trend, but the shift in October is not. enough to change the year-to-date image of a soft Europe and a. strong Asia.
The October numbers are more likely a sign that European. purchasers benefited from recent steady rates to top up natural. gas stocks ahead of winter season, while the small dip in Asia. was mainly due to leading purchaser China's imports slipping slightly.
Arrivals of the super-chilled fuel in Europe were 7.54. million metric lots in October, up from 6.37 million in. September and the most given that May, according to information compiled by. product experts Kpler.
However, the October overall was listed below the 9.47 million lots. from the same month in 2023, continuing a pattern of Europe. buying less LNG amid adequate inventories of natural gas ahead of. the northern winter season.
Asia's LNG imports were 24.36 million heaps in October, down. from 24.72 million in September and the most affordable given that July,. according to Kpler data.
However, Asia's arrivals in October were up 14.6% from the. same month in 2015, continuing the top-importing area's. pattern of purchasing more LNG this year.
For the first 10 months of the year Asia's LNG imports were. 239.77 million loads, up 10.3% from the exact same duration in 2023.
In contrast, Europe's LNG imports were 81.48 million tons. for the first 10 months of 2024, a drop of 20% from the exact same. period in 2015.
Even if Europe's imports do reveal the typical seasonal uptick. for winter season, it is still most likely that they will show a substantial. drop in 2024 from 2023.
This can partially be discussed by milder weather condition, but likewise by. a structural shift toward renewables for electrical power generation. and the shuttering of industrial plants that utilized gas as. fuel or feedstock.
However the decline in Europe's LNG imports so far this year has. been offset by the boost in Asia.
Combining the 2 regions sees overall imports of 321.23. million lots for the first 10 months of this year, up 0.6% from. the same duration in 2023.
CHINA TRUCKS
Much of the development in Asia's need has been led by China,. the world's biggest LNG importer, which has actually seen arrivals jump. by 13.4% in the very first 10 months of the year to 64.55 million. loads, versus the exact same period in 2023.
China has been using more LNG as sales of trucks powered by. the fuel surge, with the 108,862 vehicles sold in the first half. of 2024 being more than double the volume for the very same period. last year, according to data company CVWorld.
The shift to LNG trucks in China is partly driven by. aids and tighter emissions requirements, however also due to the fact that the. fuel has to do with 20% less expensive than diesel at current costs.
The boost in demand in China, and Asia more broadly, has. served to keep area LNG costs on a gently increasing trend for much. of 2024.
After reaching a post-winter low of $8.30 per million. British thermal systems (mmBtu) in late February, Asia's spot LNG. price << LNG-AS > has moved higher, peaking at $14.10 in mid-August. and moving sideways ever since, ending last week at $13.80.
The mostly stable costs reflect that LNG supply is. appropriate to satisfy Asia's increasing demand, with top global exporter. the United States meeting much of the increase.
Asia's imports from the United States rose from a 2024 low. of 1.51 million loads in February to a high of 3.43 million in. July, and have stayed high, coming in at 3.22 million in. October and 3.25 million in September.
Asia's LNG imports normally peak in December and January as. need increases for winter heating, and if the typical seasonal. pattern is repeated it is likely that volumes will show some. gains over the next few months.
But the danger is that the boost is modest, provided projections. for a milder than typical start to winter season, which will result in. lower intake at the start of the heating season.
The viewpoints revealed here are those of the author, a writer. .
(source: Reuters)