July, 2018

• 31 July

  DME sets new open interest record of 71.5mn barrels of crude oil

  

  DUBAI / WAM Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has reported a new exchange-wide open interest record of 71,586 lots on July 31. This total is equivalent to almost 71.5 million barrels of crude oil. The latest figure surpasses the previous open interest record of 69,183 lots, which was set ...

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• 31 July

  GAC Abu Dhabi joins Abu Dhabi Airports Free Zone

  

  Bloomberg Abu Dhabi Airports Free Zone (ADAFZ) on Tuesday announced leading international logistics firm Gulf Agency Company (GAC) Abu Dhabi as the latest addition to its cargo terminal free zone site. As a result of its free zone status, GAC Abu Dhabi is set to enhance its customer experience, allowing cargo to be transferred to any other free zones in ...

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• 31 July

  BP makes tiny oil trading loss as Permian bottlenecks bite

  

  Bloomberg BP Plc reported a small and unusual loss from oil trading after being caught on the wrong side of Permian basin pipeline bottlenecks that prompted wild gyrations in US crude prices this year. “A lot of people got a little bit caught up in the bottlenecks in the Permian, we had some of that,” BP Chief Executive Bob Dudley ...

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• 31 July

  Crude swings lower amid demand worries

  

  Bloomberg Crude dipped this month as a slew of factors from threats of weaker demand to key OPEC producers boosting output has weighed on the market. Futures in New York have lost almost 7 percent in July as some of the largest producers are seen raising supply levels. On Tuesday, prices also declined amid low-volume trading and a strengthening dollar. ...

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• 31 July

  CN Rail CEO vows loyalty to grain farmers as oil shipments climb

  

  Bloomberg Crude oil demand may be on the rise again, but Canadian National (CN) Railway Co.’s new leader insists energy shipments won’t displace longtime railroad staples such as grain and lumber. Grain farmers in the western Prairie provinces saw exports slow to a crawl when Canadian National proved unable to cope with a surge in demand starting in the second ...

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• 31 July

  Congo’s president mulls successors

  

  Bloomberg Democratic Republic of Congo President Joseph Kabila is meeting members of his ruling coalition to discuss who will be the candidate in presidential elections this year, party and government officials said. The central African nation is scheduled to hold parliamentary and presidential votes on December 23 that have been delayed since 2016 by the electoral commission’s inability to organise ...

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• 31 July

  Russia’s tiny neighbour prepares cyber revenge

  Bloomberg Estonia, the tiny eastern European nation that says it was the first target of state-sponsored cyber warfare from Russia, may soon be able to strike back. Mirroring larger NATO members, its military is assembling a cyber-command unit to combat virtual attacks that have been growing by as much as 20 percent a year. As well as defensive strategies, the ...

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• 31 July

  Italy’s populist leader stakes claim to be Trump’s man in Europe

  

  Bloomberg Italian Prime Minister Giuseppe Conte took his cues from Donald Trump at their first White House meeting, backing the president’s views on trade, migration, security and defense spending and setting himself up as an advocate for US policy in the heart of the European Union. “We are two governments of change—many things unite us,” Conte said at a joint ...

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• 31 July

  May, Macron to discuss Brexit

  Bloomberg UK Prime Minister Theresa May will fly to meet French President Emmanuel Macron at his holiday home to discuss Brexit on Friday, her office said. May is currently on vacation in Italy with her husband but will leave a day earlier than planned to travel to the south of France for discussions on the UK’s withdrawal from the European ...

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• 31 July

  Putin meddled in Trump’s election: Homeland chief

  Bloomberg Homeland Security Secretary Kirstjen Nielsen said on Tuesday that US spy agencies were “right” that Russia interfered in the 2016 US presidential election. “It was the Russians,” Nielsen said at the Department of Homeland Security National Cybersecurity Summit in New York. “Any attempt to interfere in our elections is a direct attack against our democracy. American will not tolerate ...

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