Latest news with #Russian
The Sun
28 minutes ago
- Business
- The Sun
Oil Prices Rise After US Court Blocks Trump Tariffs
TOKYO: Oil prices rose on Thursday after a U.S. court blocked President Donald Trump's tariffs from taking effect, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. Brent crude futures climbed 81 cents, or 1.25%, to $65.71 a barrel. U.S. West Texas Intermediate crude advanced by 83 cents, or 1.34%, to $62.62 a barrel at 0102 GMT. A U.S. trade court on Wednesday ruled that Trump overstepped his authority by imposing across-the-board tariffs on imports from nations that sell more to the United States than they buy. The ruling buoyed risk appetite across global markets which have been on edge about the impact of the levies on economic growth, but analysts said the relief may only be temporary given the administration has said it will appeal. 'But for now, investors get a breather from the economic uncertainty they love to loathe,' said Matt Simpson, an analyst at City Index in Brisbane. On the supply front, there are concerns about potential new sanctions on Russian crude. At the same time, the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, could agree on Saturday to accelerate their oil production hikes in July. With Russian oil so far overall showing relative resistance to the sanctions, imposed over Moscow's war on Ukraine, 'it is hard to be convinced that any new U.S. sanctions on Russia will meaningfully dent Russia's oil exports,' Commonwealth Bank of Australia analyst Vivek Dhar said in a note. Adding to supply risks, Chevron has terminated its oil production and a number of other activities in Venezuela, after its key license was revoked by U.S. President Donald Trump's government in March. Venezuela in April cancelled cargoes scheduled to Chevron citing payment uncertainties related to U.S. sanctions. Chevron was exporting 290,000 barrels per day (bpd) of Venezuelan oil or over a third of the country's total before that. 'From May through August, the data points to a constructive, bullish bias with liquids demand set to outpace supply,' Mukesh Sahdev, Global Head of Commodity Markets at Rystad Energy, said in a note, as he expects demand growth outpacing supply growth by 0.6 million to 0.7 million bpd. Later on Thursday, investors will be watching for the weekly reports from the American Petroleum Institute (API) and the Energy Information Administration, the statistical arm of the U.S. Department of Energy. U.S. crude oil and distillate inventories likely rose last week while gasoline stockpiles likely fell, an extended Reuters poll showed on Wednesday. According to the market sources familiar with the API data, U.S. crude and gasoline stocks fell last week while distillate inventories rose.
New Straits Times
34 minutes ago
- Business
- New Straits Times
Oil prices climb as US court blocks Trump tariffs
TOKYO: Oil prices rose on Thursday after a US court blocked President Donald Trump's tariffs from taking effect, while the market was watching out for potential new US sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. Brent crude futures climbed 81 sen, or 1.25 per cent, to US$65.71 a barrel. US West Texas Intermediate crude advanced by 83 sen, or 1.34 per cent, to US$62.62 a barrel at 0102 GMT. A US trade court on Wednesday ruled that Trump overstepped his authority by imposing across-the-board tariffs on imports from nations that sell more to the United States than they buy. The ruling buoyed risk appetite across global markets which have been on edge about the impact of the levies on economic growth, but analysts said the relief may only be temporary given the administration has said it will appeal. "But for now, investors get a breather from the economic uncertainty they love to loathe," said Matt Simpson, an analyst at City Index in Brisbane. On the supply front, there are concerns about potential new sanctions on Russian crude. At the same time, the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, could agree on Saturday to accelerate their oil production hikes in July. With Russian oil so far overall showing relative resistance to the sanctions, imposed over Moscow's war on Ukraine, "it is hard to be convinced that any new US sanctions on Russia will meaningfully dent Russia's oil exports," Commonwealth Bank of Australia analyst Vivek Dhar said in a note. Adding to supply risks, Chevron has terminated its oil production and a number of other activities in Venezuela, after its key license was revoked by US President Donald Trump's government in March. Venezuela in April cancelled cargoes scheduled to Chevron citing payment uncertainties related to US sanctions. Chevron was exporting 290,000 barrels per day (bpd) of Venezuelan oil or over a third of the country's total before that. "From May through August, the data points to a constructive, bullish bias with liquids demand set to outpace supply," Mukesh Sahdev, Global Head of Commodity Markets at Rystad Energy, said in a note, as he expects demand growth outpacing supply growth by 0.6 million to 0.7 million bpd. Later on Thursday, investors will be watching for the weekly reports from the American Petroleum Institute (API) and the Energy Information Administration, the statistical arm of the US Department of Energy. US crude oil and distillate inventories likely rose last week while gasoline stockpiles likely fell, an extended Reuters poll showed on Wednesday. According to the market sources familiar with the API data, US crude and gasoline stocks fell last week while distillate inventories rose.
News18
an hour ago
- Politics
- News18
Russia Proposes New Ukraine Talks, Kyiv Demands Terms Upfront
Published By : AFP Russia seeks new peace talks with Ukraine in Istanbul, but Kyiv wants to see the proposal first. US President Trump is frustrated with Moscow's stalling Russia said Wednesday it wanted new talks with Ukraine in Istanbul next Monday to present its plan for a peace settlement, but Kyiv said it needed to see the proposal in advance for the meeting to yield results. Diplomatic efforts to end the three-year conflict have accelerated in recent months, but Moscow has repeatedly rejected calls for an unconditional ceasefire and shown no signs of scaling back its maximalist demands. The two sides previously met in Istanbul on May 16, their first direct talks in over three years. That encounter failed to yield a breakthrough. US President Donald Trump, who has been pushing for a peace deal, has become increasingly frustrated with Moscow's apparent stalling and warned Wednesday he would determine within 'about two weeks" whether Russian leader Vladimir Putin was serious about ending the fighting. Ukraine said it had already submitted its peace terms to Russia and demanded Moscow do the same. advetisement 'We are not opposed to further meetings with the Russians and are awaiting their memorandum," Ukrainian defence minister Rustem Umerov, who negotiated for Kyiv at the last talks, said in a post on X. 'The Russian side has at least four more days before their departure to provide us with their document for review. Diplomacy must be substantive, and the next meeting must yield results." Moscow's offensive, launched in February 2022, has resulted in tens of thousands of deaths and the destruction of large parts of eastern and southern Ukraine. The Russian military now controls around a fifth of Ukraine's territory, including the Crimean peninsula which it annexed in 2014. 'Very Disappointed' Russia said it would present a 'memorandum" outlining its peace terms at the talks next Monday, and that Foreign Minister Sergei Lavrov had briefed his US counterpart Marco Rubio on the proposal. 'Our delegation, led by Vladimir Medinsky, is ready to present a memorandum to the Ukrainian delegation and provide the necessary explanations during a second round of direct talks in Istanbul on Monday, June 2," Lavrov said in a video statement. Medinsky, a political scientist and former culture minister, led Russia's negotiating team during a first round of talks in Istanbul on May 16. The two sides have traded waves of massive aerial attacks in recent weeks, with Ukraine unleashing one of its largest-ever drone barrages on Russia overnight and Moscow pounding Ukraine with deadly strikes over the weekend. Trump told reporters on Wednesday he was 'very disappointed" at Russia's deadly bombardment during the negotiating process, but rebuffed calls to impose more sanctions on Moscow. 'If I think I'm close to getting a deal, I don't want to screw it up by doing that," he said. In a call with Lavrov on Wednesday, Rubio appealed for 'constructive, good-faith dialogue with Ukraine as the only path to ending this war", State Department spokeswoman Tammy Bruce said. Advertisement The Kremlin earlier rejected a call by Ukrainian President Volodymyr Zelensky for a three-way summit with Trump and Putin. Moscow said any meeting involving Putin and Zelensky would only happen after 'concrete agreements" had been struck between negotiators from each side. In exchange for peace, the Kremlin has demanded Ukraine abandon its ambition of joining NATO as well as cede territory it already controls — a proposition that Ukraine has called unacceptable. Russia Looking For 'Reasons' Talks between the two sides in Istanbul earlier this month yielded an exchange of 1,000 prisoners each, and agreeing to work on respective peace proposals. But Russia has kept up its deadly strikes on Ukraine in the meantime while rejecting calls for a ceasefire. Zelensky on Wednesday accused Russia of dragging out the peace process and of not wanting to halt its offensive. advetisement top videos View All 'They will constantly look for reasons not to end the war," he said at a press conference in Berlin alongside German Chancellor Friedrich Merz. On the battlefield, Zelensky said Russia was 'amassing" more than 50,000 troops on the front line around the northeastern Sumy border region, where Moscow's military has captured a number of settlements as it seeks to establish what Putin has called a 'buffer zone" inside Ukrainian territory. (This story has not been edited by News18 staff and is published from a syndicated news agency feed - AFP) Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! tags : Russia Ukraine Location : Kyiv, Ukraine First Published: May 29, 2025, 08:16 IST News world Russia Proposes New Ukraine Talks, Kyiv Demands Terms Upfront
Yahoo
an hour ago
- General
- Yahoo
Electronics plant in St. Petersburg on fire following explosions, local officials report
Editor's note: This is a developing story and is being updated. An Avangard electronics plant reportedly caught fire in the Russian city of St. Petersburg following a series of explosions, local Telegram channels and officials reported overnight on May 29. In purported videos posted on social media, a large fire was seen rising from the factory's roof in the Kalininsky district of the city. Preliminary reports indicate that the fire began around 1 a.m. local time. The fire is reportedly burning on the 5th floor of a 6-story building, the St. Petersburg Emergency Services Ministry said, adding that the fire covers approximately 100-square-meters. The plant reportedly specializes in the production of microelectronics and microcircuits. The cause of the fire was not immediately clear. Ukraine's military has not yet commented on the fire, and there were no official reports of Ukrainian drone attacks targeting the region ahead of the fire. The Kyiv Independent cannot independently verify reports made by Russian officials. Kyiv has previously target St. Petersburg through drone attacks on the region. As Russia continues to reject calls for a ceasefire and the war drags on, Ukraine has intensified drone attacks on Russian territory. In particular, drone attacks in Russia have forced airport closures for several nights in a row. A source in the Security Service of Ukraine (SBU) told the Kyiv Independent on May 28 that Ukrainian long-range drones hit the Raduga enterprise in the town of Dubna in Moscow Oblast, which produces cruise missiles. Read also: Ukrainian drones hit Russian cruise missile factory, SBU source says, in one of largest reported strikes of full-scale war We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Kuwait Times
an hour ago
- Politics
- Kuwait Times
US and Russia clash in public as Ukraine war heats up
KOROSTYSHIV: Relatives, friends and other attendees mourn over the coffins of seventeen-year-old Roman Martyniuk, his eleven-year-old sister Tamara Martyniuk and eight-year-old brother Stanislav Martyniuk, who were killed by a Russian missile strike, during a funeral ceremony at a cemetery in Korostyshiv, Zhytomyr region, on May 28, 2025, amid the Russian invasion of Ukraine. – AFP MOSCOW: The United States and Russia quarreled in public on Wednesday over the intensifying Ukraine war after US President Donald Trump warned that President Vladimir Putin was 'playing with fire' and Moscow massed 50,000 troops near a Ukrainian region. While world leaders bicker over the prospects for peace, the deadliest conflict in Europe since World War Two is heating up fast: swarms of drones are being launched by both sides while Russia is advancing at key points along the front. Trump, in a post on Truth Social, said that Putin was playing with fire and cautioned that 'REALLY BAD' things would have happened already to Russia if it was not for Trump himself. 'What Vladimir Putin doesn't realize is that if it weren't for me, lots of really bad things would have already happened in Russia, and I mean REALLY BAD. He's playing with fire,' Trump said in a Truth Social post on Tuesday. Putin's foreign policy aide, Yuri Ushakov, told a state TV reporter that Trump's remark suggested that he is not well-briefed on the realities of the war. 'Trump is not sufficiently informed about what is really happening in the context of the Ukrainian-Russian confrontation,' Ushakov said. Kremlin spokesman Dmitry Peskov said it was clear the Trump administration is making 'considerable efforts towards a peaceful settlement' and that Russia was 'grateful for the mediation efforts of President Trump personally.' 'Just like the United States, Russia has its own national interests, which are above all for us, and they are above all for our president,' Peskov said. After speaking to Trump on May 19 for more than two hours, Putin said that he had agreed to work with Ukraine on a memorandum which would set out the contours of a peace accord including the timing of a ceasefire. Russia, Peskov said, was preparing for the next round of negotiations with Ukraine and to continue contacts with the United States. War heating up With Trump and the Kremlin trading barbs, the war intensified. Russia said it had downed 296 Ukrainian drones over 13 regions overnight while Ukraine said Russia had launched 88 drones and five ballistic missiles. After Russia ejected Ukrainian forces from the western Kursk region, Moscow's forces have pushed over the border into neighboring Sumy region of northeastern Ukraine and taken several villages there. Ukrainian President Volodymyr Zelenskiy said that Russia has gathered 50,000 troops near the northern Sumy region, but added that Kyiv had taken steps to prevent Moscow from conducting a large-scale offensive there. Putin has repeatedly said he wants a 'buffer zone' along Russia's border with Ukraine. Russian Defense Minister Andrei Belousov said that the US-led NATO military alliance was using the Ukrainian crisis to build up its presence across eastern Europe and the Baltic but that Russia was advancing along the entire front in Ukraine. Putin ordered tens of thousands of troops into Ukraine in February 2022 after eight years of fighting in eastern Ukraine between Russian-backed separatists and Ukrainian troops. Russia currently controls just under one fifth of Ukraine. Though Russian advances have accelerated over the past year, the war is costing both Russia and Ukraine dearly in terms of casualties and military spending. Top Russian security official Dmitry Medvedev, a former president, said Trump should worry more about World War Three, a remark Trump's envoy, Keith Kellogg, said it was reckless. 'Stoking fears of WW III is an unfortunate, reckless comment... and unfitting of a world power,' Kellogg said on X. - Reuters
