Latest News
-
After devastating flash floods, global aid is heading to Nepal
As a result of the devastating flash flood that left hundreds dead and more than 1,000 people missing, countries and organizations around the world have started sending cash and relief supplies to 'Nepal. This is the list of all aid and assistance that has been announced and provided so far. China: China coordinated emergency supplies to Nepal and provided cash assistance, China's ambassador to Nepal stated in a social media post. India has dispatched nearly 50 metric tonnes of disaster relief supplies in two tranches. These include temporary shelters and blankets as well as hygiene kits, medicines and lamps. SOUTH KOREA : South Korea's foreign minister announced on X that the country has?already sent a response team and will send a disaster relief?team, as well as $1 million of humanitarian?assistance via international organizations. UNITED KINGDOM Prime Minister Andy Burnham announced that the?UK offered to send emergency responders along with PS5 millions ($6.79million) in aid to Nepal. EUROPEAN UNION : Ursula von der Leyen, President of the European Commission, said that she was ready to "mobilise additional European assistance" on X. UNITED STATES : According to the State Department, the U.S. is sending a disaster-response adviser and $500,000 in funds to Nepal. UNITED NATIONS - UN teams and partners are mobilizing personnel and supplies to help Nepal deal with the floods, UN Secretary General Antonio Guterres announced on?X. International Federation of Red Cross and Red Crescent Societies: The federation announced that it is releasing $1.24 million in emergency funding for the Nepal Red Cross Society to help with flood relief. WHO Nepal reported on X that the WHO had dispatched emergency medical supplies including multi-purpose tents and medicines. Local newspaper Kantipur reported that the World Bank's country director had told Nepal's Finance Ministry that emergency aid of 25 billion rupees (163.55 million dollars) could be provided. A French aid group announced that an emergency medical team was on its way to Nepal in order to provide immediate assistance.
-
Russell: Crude oil imports from Asia remain soft in August, despite US claims about the Hormuz blockade
Asia's crude oil imports in August were still far below levels before the Iran conflict. This raises further questions about how much crude actually leaves the Middle East. According to Kpler's data, the top-importing continent will see an arrival of 23,12 million barrels per day (bpd) this August. This is a slight decrease from July, when 23.36 million bpd were expected. Imports have also fallen by almost?4 million bpd or 14% from the average of 26,91 million bpd for the three-month period ending in February. The United States and Israel launched an attack on Iran on 28 February, prompting Tehran to respond by launching missiles and drones against U.S. infrastructure and bases across the Gulf. This led to a closure of the Strait of Hormuz which was responsible for the movement of nearly 20% of crude and refined oil and products in the world before the war. The U.S. Energy Sec. Chris Wright's claim that oil exports from the Middle East have nearly returned to pre-conflict numbers is challenged by the still low arrival of crude in Asian ports. It is obvious that there is a delay between the time crude leaves the Middle East and when it reaches ports in Asia. But if Wright's claim that "nearly 15,000,000 bpd" is leaving, then it is logical that deliveries will reflect an increase. Wright has not provided specifics for his claims. However, he stated in early August that flows from the Strait of Hormuz were 9 million barrels per day over an unspecified period of seven days. This brings the total Middle East exports up to 15 million barrels per day when the Red Sea and Gulf of Oman shipments are included. Kpler's ability to track ships using satellites and AIS data was the most impressive. It was able to observe 4.26 million bpd of vessels leaving the Strait of Hormuz during any given week in August. Kpler has tracked the exports of crude oil via the Strait of Hormuz for the entire month of August. This is down from the 4.49 million barrels per day in July, and the 15.82 million barrels per day in the three-month period leading up to U.S. INDIA FLOWS India is the major importer closest to the Middle East. Any sharp increase in exports would be seen first in Indian port arrivals, as the journey time from the Gulf of Oman up to India's West Coast is less than a week. Kpler estimates that India's crude imports in August were 4.51 million barrels per day, down from the 5.07 million barrels per day of July, and at their lowest level since March. Arrivals to the Middle East are estimated at 1,45 million bpd. This is down from July's 1,50 million bpd but still just under half the 2,88 million bpd that was the average over the last three months. The import data indicates that there are no exports to India if the Middle East is experiencing a strong economic recovery. In August, Asia saw an increase in the number of barrels per day (bpd) imported from the Middle East. This was up from 10.76 million bpd during July. Asia's imports of goods from the Middle East are up from 7.01 million bpd (the lowest Kpler records dating back to 2013), but still lower than the 15.82 millions bpd during the three months prior to the beginning of the conflict. Arrivals in July and Augurary were also likely boosted due to cargoes that had left the Middle East during the brief ceasefire that took place between the U.S.A. and Iran in mid-June and early July. If 15 million barrels per day of crude oil have been leaving the Middle East from early August onwards, then a large portion of that will not be visible until September, particularly in countries that require longer travel times, such as Japan and South Korea. As yet, there's?no indication that Asia's crude oil imports from the Middle East have returned to their pre-Iran conflict levels. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X. These are the views of a columnist who writes for.
-
The death toll in the fire at Russia's Amur Gas Chemical Complex has reached 15
The 'Amur Gas Chemical Complex', located in Russia's Far East, announced on Thursday that the death toll from a fire which broke out earlier this week was now 15. The plant announced on Wednesday that six Chinese citizens were among the seven victims of the fire. In a Thursday?Telegram, it said that 14 of the 15 victims were foreigners without revealing their nationalities. The report said that 39 people are still?in hospital, nine of whom were airlifted to Moscow. The complex is a joint venture between Sinopec and Sibur, a Chinese oil and gas firm. It claims to be one of the largest polyethylene and polyester producers in the world. The complex had not yet commenced operations, but was preparing to begin production. The plant stated that construction and preparation for operations will continue at the unaffected facilities. The Investigative Committee of Russia has stated that it is investigating the incident as a possible breach of industrial safety regulations. It is also working to determine the cause of the fire. The Amur Gas Chemical Complex is expected to produce 2.3 million metric tonnes of polyethylene per year and 400,000 metric tons polypropylene. (Reporting and Editing by Andrew Osborn, Louise Heavens).
-
Lidl to invest $6.5 billion in northern Germany data center by 2033
Schwarz Group of Germany, the owner of discount retailer Lidl, announced on Thursday that it would invest up to EUR5.6 billion ($6.5billion) on a data centre in northern Germany. This comes amid an effort by European countries, including Germany, to reduce their dependence on foreign providers of cloud-based AI and cloud services. The construction of the complex, near Rostock, is set to start in 2027. The German supermarket conglomerate announced that by 2033 the data centre in the state of Mecklenburg - Western Pomerania would have a capacity equivalent to 'average energy consumption for 600,000 homes. The plans include the use of only renewable energy in normal operation, and a closed loop water cooling system that limits water consumption. Schwesig said that talks are also underway with Rostock about?using excess heat to residential heating. Schwesig stated that the project addresses German politicians' concerns about cybersecurity risks and dependence on providers in the United States as well as other overseas countries. We must not miss this opportunity to do things our way in Germany. Mecklenburg/Western Pomerania will vote in a state-wide election on September, and incumbent Premier Schwesig is facing a challenge by the far-right Alternative for Germany.
-
As U.S. farm sales loom, heat and floods threaten China's crops
Since mid-July high temperatures and heavy rainfall have ravaged China's main?corn-, soybean- and cotton-growing areas, threatening crop yields and quality, which could increase?imports, including of cotton and feed grains, from the United States. The White House announced that China has agreed to purchase $17 billion worth of U.S. agriculture goods each year, excluding soya beans, as part of a truce in the trade war. Beijing, however, has not made 'the?large-scale purchases of non-soybeans expected after a May meeting between the leaders of both countries, while markets await news about tariff reductions. Analysts and traders said that if weather damage reduced output or quality then China may increase its imports of corn sorghum, and cotton. This could bring U.S. supplies to the forefront. In spite of a record harvest in the autumn of last year, adverse weather conditions damaged the crop quality, leading Chinese buyers to purchase more corn and substitute feed grains such as barley and sorghum. Five analysts say that heatwaves and flooding have affected China's major corn and soybean areas in the north and northeast, causing corn losses and lower outputs of soybeans. However, higher corn acreage is expected to keep the national production stable. Cotton yields in northwestern Xinjiang are expected to be affected by prolonged heat and scant rainfall. This region is responsible for more than 90% China's cotton production and also has become a major corn-growing area. Between mid-July and late August, temperatures were equal to or higher than historical records at?50 stations. These stations are located primarily in Jilin, Liaoning and Xinjiang provinces, which are important producers of corn, soybeans and other grains. State-run CCTV reported this week that Heilongjiang in China's northeast, the province with the largest production of corn and soybeans, had also been affected by heavy rains and flooding. Henan Province, which is a major producer of summer corn and soybeans in the North China Plains, experienced extreme heat in late July. This was followed by heavy rains from Typhoon Dolphin's remnants in mid-August. Liu Jinlu is an agricultural researcher with Guoyuan Futures. He said that prolonged heat could affect the pollination of corn in the North China Plain, and flooding can be a risk to fields located in the Northeast. Darin Friedrichs of Sitonia Consulting said that while Typhoon Dolphin was likely to have a negative impact on the production in Henan it would still be less harmful than last year's heavy rains. Liu and Friedrichs both agreed that a larger corn acreage would be able to offset the localised yield loss. The China Agriculture Ministry forecasts that the area of corn in 2026/27 will be 45.13 millions hectares. This is an increase of 0.4% compared to a year ago. The quality damage may still boost the demand for imported feed grain, possibly boosting U.S. purchases. Friedrichs stated that the focus should be on corn and sorghum, which historically have been the highest dollar value exports to China other than soybeans. China imported 1,36 million tons (61,3%) of corn between January and July. Sorghum and barley were imported at a rate of 86.2% and 53%, respectively. China imported 2,98 million tons (almost four times) its 2025 full-year purchases of U.S. Sorghum. SOYBEANS Wang Wenshen is an analyst with Sublime China Information. He said that excessive rainfall in Heilongjiang had reduced soil temperatures and sunlight. This could have affected soybean quality and possibly?protein content. The agriculture ministry predicts that soybean planting areas will fall by 0.6% to 10,19?million ha this year, as farmers switch to corn, which is more profitable. Imports of GM soybeans will likely have a limited impact because non-GMO beans grown in the United States are mainly used as food while imported GM beans?are primarily crushed for animal feed. COTTON The agriculture ministry's August 12 outlook stated that the persistent heat and limited rain in?Xinjiang has reduced the average number cotton bolls for each plant?and increased the risk of yield loss in some drought-affected fields. China imported 1,02 million tons in the first 7 months of 2026. This is almost equal to total imports for 2025. The U.S. cotton imports accounted for 114,494, which is the same as China's total 2025 purchases. However, they only accounted for 13% of 2024.
-
Zinc's rally of six days ends as stocks rise and ease shortage
Zinc prices fell Thursday, as rising inventories eased concerns over supply shortages outside China. This ended a six session rally during which speculative purchases pushed the metal up to its highest level in four years. By 1002 GMT, the benchmark three-month Zinc on London Metal Exchange had fallen 1% to $3,855 per metric tonne. On Wednesday, the contract reached $3,949.5 - its highest level since June 2022. The daily LME data revealed that zinc stocks reached a three-week high after 1,100 tonnes of new inflows into the LME registered warehouses in Singapore and Hong Kong. Analysts anticipate more inventory to be added, mainly in China, due to the increase in the premium of the LME Cash Zinc contract over the benchmark. The price of finished coal on Wednesday was $199 per ton, the highest since December. Three months earlier, it had been discounted by $25. According to an industry group, the dwindling supply is a further cause for concern. The global market for?refined?zinc was in surplus of 120,000 tons in the first half 2026, with reported inventories rising by 92,000 tonnes. The growth of China drove the 1.3% increase in refined production, while consumption increased by 0.6%. Other LME metals saw a?0.5% loss to $14,177.50 per ton as traders waited for Federal Reserve Chair Kevin Warsh to speak on Friday to get more?clues? on the direction of U.S. rates. Metal is down for the second session, after closing at a record of $14349.5 on February and reaching the highest level since January, $14437, on Wednesday amid concerns about tight inventory outside the U.S. "Copper's recent?record-high triggered profit taking rather than follow-through purchasing, possibly indicating that the prices have rallied to their limit for now," said Ole Hansen, head?of commodity strategy at Saxo Bank. LME aluminium dropped 0.7% to $3.204, while lead fell 0.5% to $900, tin fell 0.2% to $54,655, and nickel declined 0.5% to $15,795. (Reporting and editing by Mrigank Dahaniwala; Additional reporting by Solomon Cefai)
-
The deadliest glacier catastrophes in the world
Authorities fear that more people will be killed by a flash flood caused by a glacial collapse in the Himalayan border areas of Nepal and adjacent Tibet. At least 270 people have been killed, but authorities are concerned about further casualties. These are the most deadly glacial disasters of?history. 1941 -- HUARAZ (PERU) In the northern Andes, a glacial 'lake outburst' flood inundated one-third of Huaraz. It killed an estimated 5,000. This remains one of the most deadly glacier-lake outbursts in history. 1962 -- RANRAHIRCA (PERU) Mount Huascaran in Peru is the tallest mountain. A massive block of ice separated from it, and 10 million cubic meters of snow, rock and ice slid down the mountain within seven minutes. The ice block buried Ranrahirca, and other nearby settlements, under 12 meters of mud and debris. It killed an estimated 4,000. 1970 -- YUNGAY (PERU) A magnitude 7.9 quake destabilized Mount Huascaran's northern wall, triggering the worst glacier disaster in recorded history. A mass of glacial ice, rock and debris hurled towards the towns of Yungay (208 mph) and Ranrahirca. They were buried in sludge. The avalanche is estimated to have killed 25,000 people. This adds to the overall death toll of the?earthquake, which exceeds 50,000. 1981 -- CIRENMA CO., TIBET A glacial mass that was overhanging plunged into Cirenma Co - a lake glacial 14 km away from the China/Nepal border - sending a massive wave over its moraine. Nearly 20 million cubic meters of water, debris and ice were hurled down to Nepal by the impact. According to estimates, 200 people were killed in Nepal. Damage to roads, bridges, hydropower plants, and other infrastructure was estimated at $4 million. CHAMOLI INDIA, 2021 A large chunk of ice fell from Ronti peak near Nanda Devi in India, the second highest mountain. It sent a torrent of dust, ice and rocks 1,500 metres into the valley. The flash floods in Uttarakhand, a state in northern India, killed over 200 people and destroyed villages. Two hydroelectric projects were also swept away. 2026 -- NEPAL-TIBET BORDER More than 1,000 people have gone missing in Nepal and Tibet. The lower section of the Himalayan glacier that crashed into the valley sent an avalanche down the Lhende Khola river along the mountainous border. The mudslide that slammed Gyirong Port in Tibet, and then on to Nepal, created high-speed floods which washed out entire roads and power plants and inundated villages. The police expect the death toll will rise above 270. (Reporting and editing by Hugh Lawson; Mei Mei Chu)
-
Authorities say El Nino poses a risk to 1.2 million Peruvians.
El Nino, a weather phenomenon that has brought rain and an unexpected increase in temperatures to Peru could put more than 1,000,000 people in danger in areas of the country susceptible to climate change. Luis Vazquez is the head of the Civil Defense Institute in the state. He said that El Nino will intensify in November and cause flooding and mudslides across 10 different regions. Vazquez stated at a press conference that, based on the historical data of all regions affected by El Nino in the past, 1.2 million people may be affected. El Nino is most likely to affect northern provinces that are predominantly?dedicated?to agriculture. This could lead to economic losses. El Nino is a weather phenomenon that causes heavy rains and droughts in Latin America and warms up the surface of the Pacific Ocean. It has already affected Peru's agriculture and fishing. Vazquez stated that 536 "critical areas," or the most vulnerable parts of the country, had been identified. Preventive measures were being implemented. El Nino's impact will not only bring rain and floods along the coast of the country, but it could also cause droughts in the southern Andean?regions. Vazquez added that the government declared a?emergency state in?796 district due to the threat of rain and floods and in 607 district due to "water shortages." He said, "The idea is to mitigate potential damage and reduce vulnerabilities." Heavy rains linked to El Nino last week caused flooding to occur in some parts of the capital city, Lima. They also disrupted the road traffic to the south, stranding a number of passenger buses and freight trucks.
India's BPCL looks at buying Gulf oil FOB and lifts Iraqi crude oil
Bharat Oil Corp, India will receive its first Iraqi cargo of this fiscal year within the next few weeks. It is also 'willing' to take more oil on board from Gulf suppliers on a "free-on-board" basis if ships are readily available.
"Fortunately, we?got?the vessel. "One vessel owner was willing to move the product to Fujairah to do the STS transfer (ship-to ship)," Vetsa Ramakrishna said at a press conference following the annual shareholders meeting.
Iraq is one of the most affected countries by the Iran War and the closing of the Strait of Hormuz. This waterway, which supplies about a fifth of the world's energy, has also been attacked.
Gupta stated that BPCL needs?2 millions barrels of Iraqi crude oil each month. He added that the vessel had crossed the Strait of Hormuz and the crude was expected to reach refineries within the next few days. He refused to name the vessel. Iraq offered a "sharp discount" of between $25 and $30 per barrel compared to Dubai benchmarks for its August-loading Basrah crude oil in order to entice buyers to pick up cargoes at terminals inside the Strait of Hormuz.
Gupta stated that his company would be willing to lift cargoes inside the Strait of Hormuz, if the insurance costs were reasonable and the shipowner was willing to accept the risk. "Even if the cargo is held for 30 to 45 extra days, we will still explore it if there are commercially viable reasons." he said.
Impact of New US Bill The U.S. Senate has passed a bill that allows the president to impose tariffs up to 100 percent on major buyers of Russian gas and oil, including India. This will increase economic pressure against?Moscow for its 2022 invasion of Ukraine. The U.S. Senator who sponsored a bill to impose broad-ranging sanctions against Russia expressed his hope on Wednesday that the House of Representatives would approve it next month.
Gupta stated that BPCL had made crude arrangements for 'September and is procuring products for October.
India is India's largest oil importer.
Sanjay Khanna, chairman of the Oil Companies Association, said that a ban on this quantity would make it "a challenge" for oil companies in order to meet demand and secure crude.
He said that on average, Russian oil meets between 35% and 45% of India’s oil requirements.
"It's a very unsettling situation." Khanna stated that nobody knows what will happen next week. (Reporting and editing by Alexandra Hudson. Nidhi verma)
(source: Reuters)