5/17/2021 11:26:01 AM GMT | By Eren Sengezer
Crude oil prices fluctuate in a tight range on Monday.
Industrial Production in China expanded by 9.8% in April.
Investors await weekly crude oil stocks data from US.
Crude oil prices rose for the third straight week and the barrel of West Texas Intermediate (WTI) gained nearly 1% to settle above $65. With the financial markets staying relatively quiet at the start of the week, WTI trades in a very narrow range around $65.50.
Factory activity in China slows down modestly
Earlier in the day, the data from China revealed that Industrial Production in April expanded by 9.8% on a yearly basis following March s increase of 14.1%. Nevertheless, this reading came in line with the market expectation and failed to trigger a meaningful reaction in crude oil prices.
Rosneft output slumps on OPEC+ cuts, asset sales
May 17, 2021 9:10:am
Summary
by: Joseph Murphy
Russia s largest oil company Rosneft suffered a 17% year-on-year decline in hydrocarbon production in the first quarter on the back of OPEC+ cuts and asset sales, the firm said on May 14.
Rosneft s hydrocarbon output averaged 4.76mn barrels.
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It is less resistant to existing jabs than South African variant: Oxford team
Scientist warns slow European vaccine rollout could open door to new variants
Updated 35 min 27 sec ago
Arab News
May 17, 2021 15:06
LONDON: Approved COVID-19 vaccines are effective against the Indian variant (B.1.617.2), a study by scientists at Oxford University has found.
“It looks like the Indian variant will be susceptible to the vaccine in the way that other (variants) are,” Prof. Sir John Bell, emeritus professor of medicine at Oxford, told Times Radio in the UK.
“The data looks rather promising. I think the vaccinated population are going to be fine. And we just need to pump our way through this.”
Oil prices dip but recovery confidence limits fall theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
CAIRO: Egypt is bracing itself for a surge in COVID-19 infections, with daily cases likely to rise from 1,300 to 1,500 in the coming week, according to the Health and Population Ministry.
The pandemic’s intensity is expected to ease by July, a ministry source said, but warned that “this forecast depends on the behavior of citizens and the extent to which they commit to precautionary measures.”
Cairo and Giza governorates have been hardest hit by the rise in coronavirus infections following an increase in gatherings during Ramadan and in the days before Eid.
The two governorates are followed by Fayoum, Minya and Sohag.