Oil prices rose on Wednesday, reversing losses incurred in the previous session, as investors turned to riskier assets such as commodities amid gains in stock markets and signs of renewed demand in China, the largest oil importer.
By 04:55 GMT, Brent crude futures for December settlement rose 46 cents, or 0.5 percent, to $90.49 a barrel.
US West Texas Intermediate crude for November delivery recorded $83.69 a barrel, an increase of 87 cents, or 1.1 percent.
In the previous session, Brent crude fell 1.7 percent and US crude fell 3.1 percent to its lowest level in two weeks due to reports that US President Joe Biden intends to withdraw more barrels from the Strategic Petroleum Reserve.
Oil prices also received a boost from risk appetite, which rebounded thanks to encouraging US corporate earnings and rising stock markets.
“The slight rise in oil prices is likely due to the high sentiment in stock exchanges and the return of risk in trading,” said Sophro Sarkar, senior energy analyst at DBS Bank in Singapore.
Prices also supported in light of signs of recovery in Chinese demand. Private refining giant Zhejiang Petrochemical Corp. took an additional quota for importing crude oil in 2022 of ten million tons, and the state-run ChemChina took an additional quota of 4.28 million tons. That equates to regarding 104 million barrels.
Market sources, citing figures from the American Petroleum Institute, said on Tuesday that crude stocks in the United States fell by regarding 1.3 million barrels in the week ending October 14. Gasoline stocks fell by 2.2 million barrels, while distillate stocks fell by 1.1 million barrels.
Inventory data from the Energy Information Administration, the statistical arm of the US Department of Energy, is due later Wednesday.
(Archyde.com)
Monthly Archives
October 2022
Grégory, butcher in Quiévrain for 20 years, is overwhelmed with bills and closes his establishment: “At one point, it’s stop”
written by Alexandra Hartman Editor-in-Chief
This Wednesday evening, a special RTL info edition starts at 7:40 p.m.: Belgians in the face of the crisis – How to get out of it?
On the set, there will be Grégory, (former) butcher in Quiévrain (Hainaut). Last Saturday, he closed the doors of his establishment for the last time.
With his wife, they opened more than 20 years ago. She has been on burnout for a few months, exhausted because they worked up to 3 p.m. a day, 7 days a week during the Covid period. The rise in energy bills and the price of raw materials which continues to rise, is the last straw.
“I have 4 fridges, a gas cooker. I have a monthly bill of €850, and apparently it will triple, so that would be almost €3,000. Plus the house, the price of which will go up to €1,500. So at a moment, it’s stop, it’s like that”, he told us. In a few months, he was to celebrate the 25th anniversary of his business.
50% fewer customers…
And that’s not all: Gregory lost 50% of his clientele during the covid-19 crisis, and the situation is not improving. In recent months, it has been forced to revise its prices upwards in response to those of raw materials which continue to increase.
This butcher was nevertheless appreciated in the region. The closure is surprising. Regulars are worried. Some have been buying their meat here for over 20 years.
“We’re going to take the bull by the horns and we’re going to bounce back, we’re not going to let go,” concludes the butcher, however, who should find work, the trade having been in short supply for several years.
In the first week of October alone, 200 bankruptcies were recorded. They resulted in the loss of more than 400 jobs.
a medical student discovers in class that she is pregnant and this is how her classmates react
written by Alexandra Hartman Editor-in-Chief
What seemed like just another gynecology class has ended up becoming a video that has spread like wildfire on social networks and has already accumulated millions of views. It all started when Samantha, a gynecology student from Charleston (United States), posted what happened during one of her classes on her Tik Tok account.
“When you’re in the lab and discover a surprise“, These were the words with which Samantha accompanied the brief graphic document. In the video you can see how one of the students is performing an ultrasound on another classmate.
Everything seems normal until suddenly a fully formed baby appears on the screen: “What is this?the girl asks.
The reaction of the rest of the young people present in the room is not wasted: they have just discovered that one of their companions is pregnant. Without knowing very well what to do or how to act, they just look at each other strangely and remain silent.
A few minutes following sharing the video on Tik Tok, the reactions of the users were not long in coming. Most Internet users wanted to know how the story ended, while others understood that it was a curious way of confessing the news of the pregnancy to their companions.
A couple of days later, and following go viralthe protagonists of this story have published a video to reveal all the details and clarify the doubts of the users: “We would like to say that everything was ready. We had the idea and in the end everyone got involved. We thought that perhaps only 100 people were going to see him, he is very crazy, he just wanted to clarify that everything was false, but it was a lot of fun, “they have confessed following the commotion.
Mehdi Bayat, injured by the revolt of his supporters: “Congratulations, you hurt me”
written by Alexandra Hartman Editor-in-Chief
The Ultras Carolos unfurled banners asking for the resignation of management, clearly targeting the strong man of Sporting.
attacks that Mehdi Bayat had a hard time accepting. He entrusted it to Pierre Deprez following the meeting: “It’s more than hard. I have been in Charleroi for 20 years. 20 years that I have worked in the club. I recovered the Sporting de Charleroi in virtual bankruptcy in 2012. I am asked where is the money? Well the money is on our balance sheets.”
Zebras supporters blame Bayat for not having invested enough money to strengthen the nucleus, and urge him to jump ship: “It really hurts to feel that our audience, that my audience aren’t there when we need support. I’ve been wearing this clasp for 10 years.ub on my shoulders, we have lots of projects, we finished 6th last year, and 3rd 3 years ago, it’s not so bad for Charleroi. What I went through for a leader is difficult. The goal of the supporters was to hurt me, congratulations you made it.”