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WHO: Ebola outbreak still spreading in Congo
A World Health Organization official stated on Tuesday that the Ebola outbreak in Congo is not stabilised yet and continues to spread as population movements fuel transmission. The Democratic Republic of Congo confirmed 1,561 cases and 506 deaths in the worst outbreak of the rare Bundibugyo?Ebola species, for which no cure or treatment has been proven. Unfortunately, it is still in an expansion phase. "We would like to be able to say that it has stabilized, but we can't say this yet," Anne Ancia told reporters via video link, WHO representative for Congo. She was in Bunia at the epicenter of a swine flu epidemic. She stated that there were still major challenges, including the fact some Ebola treatment centers are?90% filled. She said that another problem is the fact that workers who fall ill in Mongbwalu, a mining town, do not seek treatment locally but rather travel and spread the disease to other regions. She said that the people who were returning too late, and dying with their families, are those who should be stopped. Many of the victims of the epidemic are healthcare workers. This includes those who contracted the virus before the outbreak was declared mid-May. Some healthcare workers do not have the necessary equipment to protect themselves against Ebola. The virus is spread through bodily fluids. Recently, healthcare?workers from the hardest-hit province Ituri went on a strike to protest delayed salary payments. Most?of the healthcare workers resumed work yesterday. Ancia said that there are still "a few groups" who are not satisfied. She added that those on strike were in charge of the transmission within a camp for displaced people. (Reporting and editing by Miranda Murray, Kevin Liffey and Emma Farge)
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Three people are killed in Gaza by Israeli strikes, say medics
Health officials in Gaza said that Israeli airstrikes on Tuesday killed at least 3 Palestinians. Medical personnel reported that an Israeli airstrike killed a man in Khan Younis' Mawasi neighborhood and injured two children. The Israeli military claimed they had targeted Hamas militant. In the evening of Tuesday, another Israeli strike?hit near an encampment that housed displaced families west of Gaza City. One person was killed and five others were injured, according to medics. A third airstrike took place in Khan Younis, where one person was killed and three others wounded. The Israeli military has not commented on the two incidents. Israel has "repeatedly conducted strikes" in Gaza since an October ceasefire mediated by the U.S. was reached. It says it targets militants that threaten its forces, or those who participated in the attack of October 2023 on Israel. Hamas accuses Israel of violating a ceasefire. Nikolay Mladenov is the Board of Peace envoy for Gaza appointed by U.S. president Donald Trump. He has stated that both sides have broken the agreement. According to the figures released by both sides, since the ceasefire came into effect eight months ago more than 1,070 Palestinians - many of whom were civilians - and four Israeli soldiers, have been killed in Gaza. Hamas doesn't reveal the number of its soldiers killed. Israeli troops control over 60% of Gaza. They patrol what Prime Minister Benjamin Netanyahu calls a buffer zone designed to prevent Hamas attacks. Netanyahu has said that Israel will not withdraw from the territory. Israel's aerial and ground bombardment on Gaza has displaced almost?the whole population of 2,000,000 people. Most of them now live in tents, or in damaged buildings along a small coastal strip of territory controlled by Hamas. (Reporting and editing by Gareth Jones. Nidal al Mughrabi)
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Kyrgyzstan will rely on fuel supplies from China and Belarus to compensate for the Russian shortage
Kyrgyzstan said it was awaiting fuel deliveries from China and Belarus to help deal with the 'knock-on effect' of a fuel shortage in its main supplier Russia. According to local media, Deputy Premier Daniyar Amangeldiev said that Kyrgyzstan has signed contracts with Belarus and China for 3 metric tons jet fuel and 10 metric tons diesel. Last week, Kyrgyzstan - which gets more than 90% its fuel from Russia - appealed for help to ensure stable fuel supplies. It asked Kazakhstan, Belarus and Azerbaijan as well as Uzbekistan and Turkmenistan. Fuel?shortages are affecting Russia following an attack by Ukrainian drones on the country's refineries. Officials in Russia have stated that they are 'considering a ban on the export of diesel. Ukraine attacked Russia's biggest oil refinery in Omsk on Monday. The facility is located in deep Siberia around 2,700 km from Ukrainian territory, and near the border of Russia with Kazakhstan. Kayirkhan Tutkyshbayev, deputy energy minister of Kazakhstan, told reporters that his country will consider its response to Kyrgyzstan's request. We are presently?reviewing this. Tutkyshbayev stated that all decisions would be taken with the national?interests in mind, as well as?the balance of domestic supply and demand. The deputy minister didn't specify the amount of?fuel involved or when it would be decided. Kazakhstan is the largest oil producer in Central Asia, according to Energy Information Administration statistics. The country also has several large refineries. Reporting by Tamara Vaal and Aigerim Turkunbaeva, writing by Felix Light. Editing by Barbara Lewis.
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Saudi Arabia cuts crude oil prices but is this enough? Russell
Saudi Aramco slashed crude oil prices in Asia for August-loading shipments, a move which appeared to indicate an intention?to recover market share and volumes after the Iran War. Even the record-breaking cut in the official?selling prices (OSPs) for August may not be sufficient, since crude oil from other Middle East producers and exporters from Africa and the Americas will likely remain more competitive than Saudi grades. Aramco, world's largest?oil exporter set its OSP at a $1.50 discount per barrel compared to the regional benchmark of Oman/Dubai for August. It was a drop of $11 per barrel from the OSP for July and the largest cut since 2003. The OSP also fell to its lowest level since the month of June 2020. At that time, the crude oil market in the world was massively oversupplied. Prices were at their lowest levels for decades due to the COVID-19 locksdowns. The current situation is reminiscent of 2020, in that the market narrative has changed dramatically to expect a surplus of oil. This is largely due to the belief that the conflict between?Iran and the United States of America has ended. This assumption could be tested in the future by the events, and the two parties are still far from an agreement that would cement the ceasefire of 60 days agreed on last month. Saudi Arabia and other Middle Eastern producers are working under the assumption that the Strait of Hormuz will remain open, and that any vessel seeking to pass through the narrow waterway can do so even if it is under Iranian control. Aramco's decision to reduce the OSPs, which take about 80%, to Asia is likely an attempt to regain market share. According to Kpler's data, Saudi Arabia exported 4.53 million barrels of oil per day in June. The June shipments were higher than the 3.74 million bpd that was shipped in May. This was the lowest Kpler has ever seen, dating back to 2013. However, they are still 2 million bpd lower than the 6.55 million average bpd of the three months before the U.S. & Israeli attack on Iran. CHINA MOVES Aramco's key market is China. It's the largest crude importer in the world, but one where Saudi Arabia has lost market share. China's imports of Saudi Arabia were estimated at 705,000 barrels per day (bpd) in July. This is up from the 12-year low 626,300 barrels per day in June, but less than half what they averaged for the three-month period leading up to Iran conflict, which was 1.48 million barrels per day. Aramco's massive increase in OSPs was a response to the closure of the Strait of Hormuz which impacted Middle East crude supply. It is not surprising that China reduced its imports of Saudi Arabian crude. Aramco was also able to redirect a large portion of its exports through Yanbu, a port located on the Red Sea. However, this came at a huge cost to Asian refiners. The OSP for Arab Light reached a record-high of $19.50 over the average Oman/Dubai price for May-loading shipments. China has also reduced its imports of other exporters, as well. The seaborne arrivals in June of 5,91 million?bpd were the lowest since Kpler data began in January 2016, and approximately half the levels before the Iran conflict. China is known to cut?imports during a sharp rise in prices, but to also?increase arrivals during a fall in prices. It may be that the size of Aramco's cut in August-loading cargoes is enough to entice China's state-controlled major refiners to buy full allocations. It's still not certain, since crude from other Middle East countries such as Kuwait and Iraq, or the United Arab Emirates, is offered at a greater discount. The UAE is offering discounts of up to several dollars per barrel. This is much higher than the $1.50 Aramco announced in August for its August shipments. Abu Dhabi National Oil Co., the main oil producer in the Emirates, is aiming to increase its crude output capacity to 5,000,000 bpd next year, allowing it to boost exports to a level of 3.5,000,000 bpd during the three months prior to the Iran War. Overall, crude oil market seems to be returning rapidly to growth in supply and price wars for market share. This outcome is still dependent on the Strait of Hormuz being fully and sustainably opened. You like this column? Check out Open Interest, 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 the columnist, an author for.
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Two people are killed in Gaza by Israeli strikes, say medics
Health officials in the Gaza Strip said that Israeli airstrikes killed at least 2 Palestinians on Tuesday. Medical personnel reported that an Israeli airstrike?killed? a man in the?Mawasi neighborhood of Khan Younis, in southern Gaza. Israeli military claimed they targeted a Hamas terrorist. In the evening of Tuesday, another Israeli strike hit a tent camp housing displaced families. One person was killed and five were injured, according to medics. The Israeli military didn't immediately comment on the incident. Israel has carried out repeated strikes in Gaza after a U.S. mediated 'ceasefire' with Hamas last October. It claims it targets militants that threaten its forces or took part in the october 2023 attack on Israel. Hamas accuses Israel of violating a ceasefire. Nikolay Mladenov is the Board of Peace Envoy for Gaza appointed by Donald Trump, who has stated that both sides have violated this agreement. According to the figures released by both sides, since the ceasefire went into effect eight months ago more than 1,070 Palestinians - many of whom were civilians - and four Israeli soldiers, have been killed in Gaza. Hamas doesn't disclose how many of its fighters were killed. Israeli troops patrol what Benjamin Netanyahu, Prime Minister of Israel, describes as a 'buffer zone to deter Hamas attack. Netanyahu has said that Israel will not leave the territory. Israel's aerial and ground bombardment of Gaza has displaced almost the entire 2 million-strong population. Most of them now live in tents, or in damaged buildings on a small coastal strip governed by Hamas. (Reporting and editing by Gareth Jones. Nidal al Mughrabi)
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TotalEnergies CEO discusses signing of exploration contract in Syria
DAMASCUS/PARIS 7 July - Patrick Pouyanne, the Chief Executive Officer of TotalEnergies, will meet with his syrian counterparts to discuss signing a contract for exploration on Tuesday, he said. Pouyanne, a member of a French delegation accompanying French president Emmanuel Macron to Syria on Tuesday was 'overshadowed' by bomb attacks that took place in Damascus. Total and the Syrian Petroleum Company signed a "memorandum" of understanding (MOU) in May to explore an offshore block off the Mediterranean. In the wake of U.S. and Israeli war against Iran, it has recently talked about the need for pipelines to be built through 'Syria' to transport oil from Iraq. We have partnered with?other companies in order to explore the offshore area of Syria. Pouyanne stated that we will be discussing it with our Syrian counterparts today to determine if a contract can be reached. He added, "Of course, we'd prefer to find oil, but most of the discoveries in the eastern Mediterranean -- such as those made in Israel and Cyprus -- are gas." The CEO reiterated that Syria has risen in importance as a transit route for Iraqi crude oil.
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MORNING BID AMERICAS-Chip dip
Anna Szymanski is the Editor-in-Charge of Open?Interest. U.S. chips stocks made a strong comeback Monday but this momentum was halted on Tuesday as concerns over the durability of AI chip frenzy affected Asian trading. Samsung Electronics''shares' fell by nearly 7% Tuesday, despite a 19-fold increase in its second-quarter operating profits. SK Hynix's shares also dropped, dragging South Korea's chip heavy KOSPI Index down around 5%. Below, I'll go into more detail. Listen to the Morning Bid podcast to hear the market's reaction to Samsung’s stunning results. Subscribe to the Morning Bid daily podcast and hear our journalists discuss all of the latest news in finance and markets seven days a weeks. CHIP DIP The chip rally in the US was triggered by the news that Broadcom had extended a contract with Apple to provide custom chips for iPhones through 2031. S&P 500, Nasdaq and other major markets closed higher during the rally. Nasdaq Futures were lower by more than 1% on Tuesday morning, after the turmoil in Asia trading. The decline in Asian tech shares on Tuesday may indicate that the benefits of soaring demand for chips are already priced in. Meanwhile, concerns about the sustainability of this boom continue to grow. Remember that Samsung's stock price has more than tripled in the past year, and SK Hynix has also more than doubled. Microsoft's shares fell nearly 1% Monday after the company announced it would be cutting 4,800 jobs to restructure their gaming division. This follows a 20% decline in the share price of the company in the first half of 2026. In FX, on Tuesday the yen rose slightly but remained at a 40-year low of 162 to the dollar. Traders were alert for any possible intervention by Japan's government. Brent crude traded at $73 per barrel after reports that Iran had fired missiles on commercial ships in the Strait of Hormuz. The NATO summit will also begin in Ankara on Tuesday. European defence spending, which is a priority for leaders, will be discussed as they try to show how they intend to meet President Donald Trump's increased NATO spending target. On Wednesday, President Trump will meet with Ukrainian President Volodymyr Zelenskiy. This meeting is sure to be a highlight. Trump repeated his familiar claim that the end of the Ukraine war is 'close. Chart of the Day NATO leaders began unveiling multi-billion dollars arms deals in Ankara on Tuesday, to show that they are heeding U.S. requests to spend more money to defend Europe. NATO Secretary General Mark Rutte stated on Monday that "staggering increases" in European countries' defence spending were due to both fears of Russia and President Trumps' "forceful" encouragement. Watch today's events * U.S. trade balance for May (8:30 am EDT), auction of 3-year notes (1 pm EDT) SpaceX to join Nasdaq100 index NATO Summit begins in Ankara Want to receive the Morning Bid every morning in your email? Sign up here for the newsletter. On our website you will find information about ROI. You can also follow us on LinkedIn or X. The opinions expressed by the author are their own. These opinions do not represent the views of News. News is committed to independence, integrity and freedom from bias, as outlined in the Trust Principles. (By Anna Szymanski, Additional writing by Al Reed and Editing by Hugh Lawson).
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China's gold reserves have risen the most since 2023, despite a decline in bullion.
Official data released on Tuesday showed that China's central banks reported its biggest monthly increase in gold reserves for more than two and a half years in June, even though bullion prices fell. The People's Bank of China reported that the central bank of China continued to purchase gold for the 20th consecutive month. Its reserves reached 75.44 million fine troy ounces at the end of the month compared to 74.96 million a month before. This was the largest monthly increase since October 2023 when the holdings increased by 740,000 pounds. Data showed that the value of gold reserves in the country had declined to $303.72 Billion at the end last month. This is down from $340.75 Billion in May. Gold prices fell sharply in June, but the rise was still significant. In June, spot gold fell?11.65%, the most since October 2008. It briefly broke below $4,000 per ounce. Dollar strengthened, and traders priced in the possibility that Federal Reserve interest rates would remain high. Concerns about a'sticky' inflation were also raised by the Iran war.
Aluminum prices rise on Middle East tensions
Aluminum prices increased on Tuesday, as markets considered the potential for a tightening of supply amid Middle East tensions.
Benchmark 'three-month' aluminium at the London Metal Exchange rose 0.5% by 1009 GMT to $3,129 per metric ton, nearing resistance from the 200-day average of $3,161.
A ship was struck overnight in the Strait of Hormuz, and Iran announced that there would be no peace talks unless Donald Trump stopped threatening to restart war.
As optimism grew over the prospect of Gulf supply via Hormuz, aluminum prices fell 16% in June, their biggest monthly drop since 2008.
Aluminium is still oversold on the short-term. Alastair M. Munro is a senior base metals analyst at Marex. He said that turnover was averaging a lower level than usual and that interest in the market had waned following recent risk reductions.
Analysts expect that the global supply of metals used in construction, transport and packaging will be deficient this year. Continuing outflows of stocks from?the LME registered warehouses also provide support.
Total stocks
Other LME metals fell by 0.1%, to $13,388.50 a ton. The market has been trading in a tight range for the past week, as it awaits Washington's decision on potential import tariffs on refined copper. Meanwhile, outflows of LME stocks to the U.S. are continuing.
China's Yangshan Copper Premium
Zinc fell 0.1% to $3,586.50, after reaching a two-week high at $3,600. Lead rose 0.5% to $1.889.50. Tin gained 0.4% to $53,105, and nickel dropped 0.3% to $15,360. (Reporting and additional reporting by Solomon Cefai, Editing by Diti pujara.)
(source: Reuters)