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Bloomberg Oil pushed higher with support from a weakening dollar as investors weighed a worsening short-term demand outlook against an eventual rebound as Covid-19 vaccines are rolled out. Futures in New York rise above $48 a barrel, though liquidity was thin in the period between Christmas and New Year. A dip in the dollar boosted the appeal of commodities such …

Bloomberg Oil climbed as the UK is poised to grant regulatory approval to another Covid-19 vaccine and as the US passed its stimulus bill into law. Futures in New York are trading 1.2% higher after dipping in early trading. Britain’s drug regulator could clear the shot produced by AstraZeneca Plc and the University of Oxford for use as early as …

Bloomberg Millions of Americans will see their unemployment benefits lapse, at least temporarily, after President Donald Trump let it the night pass without signing a bipartisan stimulus package containing various pandemic aid. While the president dug in over the size of direct checks to be sent to many Americans, the $900 billion stimulus accord contains numerous other measures, including extended …

Bloomberg Russia plans to support a further gradual increase in Opec+ production at the next meeting in January, because crude prices are within an optimal range. “To restore our output, that we’ve reduced a lot, the price range of $45 to $55 a barrel is the most optimal,” Deputy Prime Minister Alexander Novak told reporters in Moscow. “Otherwise we’ll never …

RIYADH / WAM The Official Spokesman for the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki said that the terrorist Houthi militia launched a ballistic missile from Amran governorate on Saturday morning, using civilian objects as a launch site. The missile fell short in Yemeni territory east of Al-Yatmah, Al-Jawf governorate, he added in a statement. “The Houthi …

Bloomberg Britain and the European Union (EU) will enjoy a “special relationship” as a result of the historic trade agreement that was reached, according to UK Cabinet Office Minister Michael Gove. “We can now embark on a new, more hopeful, chapter in our history,” Gove said in an article published in the Times of London newspaper on Saturday. “We can …

DUBAI/ DAKAR / WAM Trade enabler DP World, and the Government of Senegal, have signed agreements for the development of a deepwater port at Ndayane, approximately 50 kilometres (km) from the existing port and near the Blaise Diagne international airport. The new port will further reinforce Dakar’s role as a major logistics hub and gateway to West and North-West Africa. …

NEW YORK / WAM The United Nations General Assembly has adopted by consensus a resolution proclaiming February 4 as “International Day for Human Fraternity.” The initiative was introduced by the United Arab Emirates, Bahrain, Egypt and Saudi Arabia, and as a result the international community will observe International Day for Human Fraternity annually beginning in 2021. Prior to the adoption …

Bloomberg Oil extended this week’s slump on fears that rising virus infections and a faster-spreading strain will inflict a new blow on fuel consumption. Futures are down more than 3% in New York. Many countries have suspended travel with the UK, where a new Covid-19 variant is forcing more than 16 million people to stay at home. A resurgence of …

ABU DHABI / WAM The UAE has welcomed the implementation of the Riyadh Agreement between the legitimate Yemeni government and the Southern Transitional Council. It further welcomed the formation of a government of political competencies in Yemen, and expressed its hope that this will be a step towards a political solution and an accelerated end to the Yemeni crisis. In …