Household spending up 0.1% m/m in April vs f’cast -2.2% Spending surges after taking heavy hit in April last year (Recasts)
TOKYO, June 4 (Reuters) - Japan’s household spending jumped in April the most in at least two decades as consumers splurged on cars, clothing and beauty services, though the gains were inflated in part by the sharp comparison to last year’s pandemic-driven plunge.
An extension of state of emergency restrictions in Tokyo and other major areas has hurt the outlook for Japan’s economy, which already fell back into contraction in the first quarter due to weak consumer and business spending.
Maersk Tankers Singapore Pte Ltd and Scorpio LR2 Pool Ltd have filed separate claims in the Singapore High Court against Winson Oil Trading Pte Ltd for failing to fulfil its contractual obligations, court documents show.
By Reuters Staff
2 Min Read
(Reuters) - U.S. liquefied natural gas developer Tellurian Inc said on Thursday it signed a 10-year agreement with Vitol, the world’s largest independent energy trader, for 3 million tonnes per annum (MTPA) of LNG.
The agreement is valued at about $12 billion in revenue over the deal period, Tellurian said.
Demand for LNG has surged in recent years as nations including China and India buy more of the super-cooled fuel to meet fast-growing energy needs while also weaning consumers off dirtier coal.
Last week, Tellurian also signed a 10-year agreement with commodity trader Gunvor Group for 3 MTPA of LNG. The LNG would be delivered from Driftwood LNG, a 27.6 MTPA liquefaction facility it proposed near Lake Charles, Louisiana in the U.S. Gulf Coast.
By Reuters Staff
1 Min Read
General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, U.S., March 30, 2020. REUTERS/Mike Segar/File Photo
NEW YORK (Reuters) - U.S. weekly refinery utilization rates last week rose to 88.7%, the highest since February 2020, according to U.S. Energy Information Administration data released on Thursday.
Midwest weekly refinery utilization rates rose to 91.5%, also the highest since February 2020, the data showed.
Reporting by Devika Krishna Kumar in New York; Editing by Chizu Nomiyama
GRAPHIC - Asia s crude imports vs. Brent price: tmsnrt.rs/3uGyhqB
LAUNCESTON, Australia, June 3 (Reuters) - Crude oil futures have climbed to an 18-month high, but the physical market in the top-consuming region of Asia is lagging the gains amid ongoing soft demand and contracting refinery profit margins.
Brent crude futures reached an intraday peak of $71.48 a barrel on Wednesday, the highest since January 2020, before ending at $71.35, while the U.S. benchmark West Texas Intermediate reached $69.00 during the session, its highest since October 2018.
The rally in the two biggest crude futures contracts came amid optimism of a rebound in demand, especially in North America and Europe, as well as the decision by the OPEC+ producer group to stick with their plan to gradually ease production curbs through July.