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Bloomberg The crude market is now offering its biggest yield in about a year — at a time when other asset classes are offering meager returns — causing a surge in investor appetite for the commodity. As oil futures power to $60 a barrel, the market’s forward curve has moved sharply into a pricing pattern where nearer-dated contracts are more …

Bloomberg A World Health Organization (WHO) investigation in China found that the coronavirus most likely jumped to humans through an animal host or frozen wildlife products, finding that it’s “extremely unlikely” it came from a laboratory leak. No further research is needed to look into the theory about a leak, Peter Ben Embarek, a WHO official, told reporters on Tuesday …

Bloomberg Oil in London rose above $60 a barrel for the first time in more than a year as stockpiles tighten and the demand outlook improves amid the global rollout of Covid-19 vaccines. It’s another milestone in a stellar comeback from the biggest demand destruction in a generation after the pandemic forced countries to lock down, devastated economies and grounded …

DUBAI / WAM Breakbulk Middle East (BBME) is hosting their Digital Special on Tuesday in the midst of high-level officials and professionals from the breakbulk and project cargo industry. The live-in person event is scheduled to be held on February 01-02, 2022. The event will feature discussions on topics of importance like the significant role of women in the industry …

RIYADH / WAM The Joint Coalition Forces have intercepted and destroyed this evening additional bomb-laden UAVs. This was stated by the official Spokesman of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki. “A total of (4) bomb-laden UAVs launched systematically and deliberately by the terrorist Houthi militia to target civilians and civilian objects in the Southern Region …

Bloomberg One year after the first glimmers of the catastrophe awaiting global oil markets — from deserted Chinese cities to grounded jets — crude is staging a remarkable turnaround. The crisis triggered by the deadly coronavirus was the worst the petroleum industry has ever seen. Fuel demand crashed by a fifth, prices slumped below zero, producers fought viciously over customers, …

Bloomberg Oil set a fresh one-year high in New York with continued producer supply curbs helping spur strength everywhere from physical markets to the futures curve. Futures gained 1.1% in New York to the highest since late January 2020, while Brent crude remained just under $60 a barrel in London. The number of vessels sailing towards China jumped to a …

Bloomberg Sinovac Biotech Ltd received regulatory approval from Chinese authorities for its coronavirus vaccine to be used by the general public in the country’s second such authorisation. The conditional approval was announced by the National Medical Products Administration on Saturday. Sinovac earlier said the protective efficacy of its vaccine, CoronaVac, met World Health Organization and China regulatory standards 14 days …

Bloomberg Business activity in the Arab world’s two largest economies improved at the start of 2021, with the United Arab Emirates seeing growth in its job market. Non-oil private sector activity in Saudi Arabia soared during January as new work levels increased and operating conditions improved in the UAE, helped by an expansion in new orders and output. Purchasing Managers’ …

Bloomberg Oil extended gains after closing at the highest level in more than a year as declines in US and Chinese crude stockpiles added impetus to a rally driven by tightening global supplies. Futures in New York climbed to trade above $55 a barrel. The American Petroleum Institute reported crude inventories fell by 4.3 million barrels last week, people familiar …