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British paratroopers drop hantavirus-suspected samples on Tristan da Cunha
British paratroopers dropped medics and supplies on Britain's remotest overseas territory, Tristan da Cunha. This was after a suspected case of hantavirus had been confirmed. Six paratroopers - and two military clinicians - from the 16 Air Assault Brigade jumped 'from a RAF A400M transport plane that flew 6,788km (4,218miles) from RAF Brize Norton in Oxfordshire to Ascension Island. Then another 3,000km due south to Tristan da Cunha. On Saturday, oxygen and other medical supplies were dropped alongside the aircraft. A RAF Voyager refueled the A400M in mid-flight. In a statement, the Ministry of Defence stated that this was the first time UK military personnel have deployed medical 'personnel' to provide humanitarian assistance via parachute jump. Supplies were intended for a British passenger who, according to UK authorities, was on a cruise ship that docked in the island between April 13-15 and was affected by an outbreak of hantavirus. The WHO reported that the man had symptoms consistent with hantavirus and was stable in isolation. The Ministry of Defence said that oxygen supplies were at an all-time low on the island, and an airdrop of medical personnel with vital care was the only way to reach the patient before it was too late. Tristan da Cunha is home to around 200 people and lies halfway between South Africa, South America, and Africa. It's the most remote inhabited island in the world, located more than 2,400km away from its nearest inhabited neighbor, St Helena. The island is usually staffed by a two-person medical team to provide for its needs. It can only be reached by boat, as there is no airstrip. On May 7, a military plane delivered PCR tests to Ascension Island where a British man had debarked from the cruise ship before he was'medically evacuated' to South Africa. "The arrival of parachutists, medical personnel, and medical supplies has hopefully reassured Tristan da Cunha's people," said Brigadier Ed Cartwright. He is the Officer Commanding 16 Air Assault Brigade. (Reporting and editing by Aislinn laing)
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Ministry of Defense: South Korean ship hit by unidentified object in Strait of Hormuz on May 4, says
After a Friday inspection, the Foreign Ministry announced on Sunday that the stern of a South Korean shipper's bulk carrier, HMM, was struck by an unidentified object while it was stranded on the Strait of Hormuz on May 4. Seoul reported an explosion and fire on the same vessel, the HMM Namu, in the strait while it was anchored near the United Arab Emirates. The incident did not cause any injuries. U.S. president Donald Trump stated at the time that an Iranian attack was responsible for the incident. Seoul investigated the incident and the vessel, which was damaged by fire on Monday, was towed into a port in Dubai. The ministry stated that it was unclear what the object was and that debris would be collected to analyze. Trump asked South Korea to join a U.S. led effort, currently suspended, dubbed "Project Freedom" to ensure shipping through the Strait after?the incident. The Iranian embassy in South Korea denied responsibility for this attack. The embassy did not respond immediately to a request made outside of normal working hours for comment on the object. A spokesperson for the HMM declined to comment on this statement. Reporting by Heejin KIM Editing by Bernadette BAUCH
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Swiss Air CEO says no immediate fuel shortage, eyes contingency plans
Swiss International Air Lines' CEO said in the NZZ on Saturday that the airline has enough jet fuel to last for the next six weeks. However, the company is exploring contingencies such as "tankering", amid industry warnings of fuel shortages linked to the Iran War. The newspaper Neue Zurcher Nachricht quoted SWISS CEO Jens Fehlinger as saying that "the current forecasts of our suppliers, oil companies and refineries, are good." European airlines are warning of possible jet?fuel shortages in the coming weeks due to the U.S. - Iran conflict, which has caused energy prices to soar and curtailed'supply. "If there were to be a kerosene shortage, it would be first seen in Africa and?Asia. He told NZZ that he saw no evidence of this at the moment. The outlook is stable. However, Fehlinger stated that the airline, along with its parent company, Lufthansa Group were working on contingency planning, including "tankering," which involves filling up aircraft to capacity at a location where fuel supplies are plentiful, and then bringing additional fuel back to Zurich. Fehlinger said that such practices are currently prohibited by regulation, but there may be discussions with policymakers about reopening the possibility. He said that another option would be to strategically refuel at airports with good infrastructure along flight routes. For example, in Vienna, for flights from Europe to Asia. According to Fehlinger, the high oil prices will likely affect fares in time. SWISS has protected itself against recent fuel market volatility by hedging 80% of its kerosene requirements for the year. This will limit the immediate impact of increasing prices. He said that the airline had only seen a 20% rise in fuel costs.
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Tenerife welcomes a cruise ship affected by the hantavirus epidemic
The cruise ship that was hit by the deadly hantavirus epidemic arrived early on Sunday morning near Granadilla Port in Tenerife. The cruise ship will anchor near the Port of Granadilla in Tenerife for the evacuation and re-boarding of passengers. According to Spanish officials, the passengers will be tested to make sure they are asymptomatic by Spanish health authorities. They will then be transported on small boats to land. The passengers will be transported by sealed-off buses to the main airport of the Spanish island, which is about 10 minutes away. From there they will board their planes to fly to their respective countries. As a precaution, all passengers aboard the luxury cruise ship MV Hondius were deemed high-risk contacts by Europe's Public Health Agency late on Saturday. According to Spanish authorities, the evacuation will begin between 7:30 a.m. and?8.30 a.m. (06300-0700 GMT). Government officials announced on Saturday that Spanish nationals will disembark in groups first, followed by other nationalities. The ship will sail to Holland where it will be disinfected. Cape Verde's coast was the first port of call for the ship, which left on Wednesday to head towards Spain after World Health Organization and the European Union requested that the country?manage evacuation of passengers following the detection of the hantavirus. The WHO Director-General Tedros Adhanom Ghebreyesus, along with Spain's Interior and Health Ministers, and its Minister for Territorial?Policy, arrived in Tenerife on Saturday evening to coordinate the arrival of a ship. The WHO announced on Friday that 8 people were sick, three of whom died - a Dutch family and a German citizen. The WHO said that six of these people have been confirmed as having contracted the virus. Two other cases are suspected, it added. Hantavirus is usually transmitted by rodents, but can be transmitted from person to person in rare instances. WHO says the risk is low for the global population, but moderate for passengers and crew aboard the ship. Reporting by Corina Poons and Victoria Waldersee, Editing by Philippa Fletchcher
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Qatari LNG tanker sailing towards Hormuz Strait, shipping data shows
According to LSEG shipping information, the Qatari 'LNG tanker Al Kharaitiyat sailed towards?the Strait?of?Hormuz after departing Qatar Ras Laffan enroute to Port Qasim Pakistan on?Saturday?. If the passage is successful, it will be the first time a Qatari LNG-tanker has transited the Strait since the beginning of the war against Iran. QatarEnergy has not yet responded to the?comment. According to LSEG, the vessel is managed by Nakilat Shipping Qatar Ltd, and sails?under Marshall Islands flag. It has a cargo capacity of 211,986 cu m. Sources at the time said that Iran's Revolutionary Guards stopped two Qatar LNG tanks, Al Daayen, and Rasheeda on April 6, and told them to remain in their positions without any explanation. Qatar is the second largest LNG exporter in the world, with most of its shipments going to Asian buyers. The 'Iranian attack' knocked down 17% of Qatar LNG export capacity. Repairs are expected to take three - five years. Reporting by Andrew Mills and Timour Azhari, Writing by Eman Aboushassira, Editing by Alexandra Hudson
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Airport says that a Frontier Jet hit and killed a pedestrian on the runway in Denver while taking off.
The airport released a statement on May 9, stating that a Frontier Airlines passenger plane struck and killed a pedestrian?on the runway?at Denver International Airport?during a planned takeoff to Los Angeles late Friday night. Frontier reported that it had struck a person during takeoff, and the flight was abandoned. The unidentified pedestrian had jumped over the perimeter fence and was struck just two minutes after crossing the runway. The?statement' said that the individual was not believed to be a member of staff at the airport. A brief engine fire caused smoke to fill the cabin of an Airbus A321 carrying 224 passengers, seven crew members and all were safely evacuated. The airport reported that 12 people had minor injuries, and five of them were taken to hospitals in the area. Frontier stated that it was investigating the incident, and gathering additional information in coordination with airport authorities and other safety?authorities. It said that the airport had closed the runway where the incident took place and expected to reopen it within a few hours. They also added that they had 'examined and found intact the fence line which the individual crossed. Sean Duffy, the U.S. Transport secretary, said that local?law enforcers are investigating the occurrence with the support of the U.S. Federal Aviation Administration (FAA) and the Transportation Security Administration. Reporting by Shivani Tana, Preetika Parshuraman and Gursimran K. in Bengaluru. Editing by Aidan Lewis & Toby Chopra.
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UK warships deployed to Middle East in anticipation of possible Hormuz missions
Britain announced on Saturday that it would be sending its warship HMS Dragon, to the Middle East to prepare for a possible multinational 'effort to protect shipping through the Strait of Hormuz once conditions permit. HMS Dragon was an air defence destroyer that was sent to Eastern Mediterranean in March shortly after the Iran War to defend Cyprus. The move to the Middle East comes after France deployed its carrier strike group in the southern Red Sea as part of a joint defensive plan to restore confidence in the trade routes. A spokesperson from the British Ministry of Defence stated that "the?prepositioning of HMS Dragon" is part of "prudent planning". This will ensure the UK's readiness to join a multinational coalition led by France and the UK, in order to secure the Strait when the conditions permit. France and Britain are preparing a plan to ensure a safe transit through the Strait when the U.S. and Iran reach a possible end of their 10-week-old war. Plan would require coordination with Iran, and?adozen countries have expressed a willingness to?take part. The Royal 'Navy is stretched and has to retire ships before they are replaced. (Reporting and editing by Alexandra Hudson.)
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Putin says to Fico that Russia will meet Slovakia’s energy needs
At a meeting at the Kremlin, Vladimir Putin told Robert Fico, Slovakia's Prime Minister on Saturday that Russia would do all it could to meet Slovakia’s energy needs. Slovakia is one of the few European countries that still buys?Russian oil and gas. The Druzhba Pipeline, built by the Soviets, is used to transport Russian oil into Slovakia. TurkStream is used to deliver natural gas from Russia. Fico arrived at Moscow for the celebrations to mark 'the Soviet Union’s victory over Nazi Germany during World War Two. In comments broadcast by?national television, Putin said that he would do "everything" to meet Slovakia's energy needs. Fico had chosen not to attend the Victory Parade at Moscow's Red Square. The Russian state media reported earlier that Fico would be attending the parade. Slovakia, a member of the EU, has "sought to keep political ties" with Russia. It has also argued that it is "too expensive to wean ourselves?"off Russian supplies after building their infrastructure around them. Reporting by Dmitry Antonov, Vladimir Soldatkin and Guy Faulconbridge; Editing by Aidan Lewis, Guy Faulconbridge
Bousso: Trump's sweet spot for oil prices is a 'no-man's-land' for the rest of us.
In recent months, oil prices have fluctuated within a relatively small range between $60 and $70 per barrel. This reflects both concerns over rising supplies of oil as well as trade wars or geopolitical conflict. This may be a sweet corner for U.S. president Donald Trump but it's a "no-man's land" for oil producers. The low end of the range was reached in mid-October. This allowed Trump to carry out his promise to impose severe sanctions against Russia's two largest oil companies, Lukoil & Rosneft. These two giants account for 5% of world output. Trump calculated that escalating the economic war against Moscow wouldn't lead to a severe disruption or price spikes, as the oil market was currently oversupplied. At the same, prices at the current level do not threaten the United States as the top oil producer in the world. In October, the U.S. Energy Information Administration increased its production forecasts by 100,000 barrels a day to 13.5 millions bpd. It also raised output forecasts for next year.
CONFUSION REIGNS ON MARKET DIRECTION
Does the U.S. President have a right to expect that prices will stay rangebound?
What you say depends on whom you ask. The International Energy Agency predicts a massive oversupply next year of nearly 4%, or 4 million barrels per day. This could cause prices to crash, and force many producers into drastic production cuts.
The world's leaders in energy do not appear to be overly concerned. The heads of oil trading companies in Abu Dhabi predicted last week that Brent oil would remain within the $60-$70 range for the next year. Some even suggested that the feared oil oversupply might not be as great as the IEA estimates. This is due to disagreements over demand. While IEA analysts expect consumption to increase by 700,000 bpd in this year, OPEC analysts put growth at nearly twice that rate, at 1.3million bpd. China's massive stockpiles this year for which Beijing has not provided any data have further confused the picture of demand. The lack of visibility of a large part of the oil markets due to the increased use of tankers that violate sanctions to transport Russian oil, Iranian oil, and Venezuelan crude has also clouded the picture of supply.
OPEC+ is clearly hedging their bets. Last week, it called for a modest rise in production in December to 137,000 bpd. This would be followed by a break through the first quarter next year.
MAJOR MUDDLE THROUGH
Western oil majors have signaled that they do not expect to see dramatic changes in prices in the foreseeable future.
Exxon Mobil, Chevron, and ConocoPhillips are among the major U.S. producers of shale oils that plan to increase their output in coming years. Exxon Mobil, the biggest U.S. oil company, increased its production forecast for 2025 in the oil-rich Permian Basin by 100,000 barrels per day, to 1.6 millions boed. It maintained the 2027 output of 2 million boed.
Chevron increased its Permian production in the third quarter, and intends to keep it at 1,000,000 boed over many years. In recent years, these firms have made significant cost reductions to be able to pay dividends and generate profits even when crude oil prices are around $60 per barrel. Oil majors have even indicated that they can continue to repurchase shares at current prices. However, they may need debt markets in order to do this.
SWEET SPOT OR "NO MAN'S LAND"?
Does this mean everyone will be satisfied if the prices stay within today's small band? Hardly.
Many OPEC producers need oil prices to be much higher than the current range for their national finances. Saudi Arabia's fiscal breakeven is $92 per barrel, according the International Monetary Fund.
The current oil price range also poses a problem for the market in general. The supply-demand equilibrium will be in limbo until prices break through the floor of this range. If OPEC's optimistic forecasts of demand do not materialize, a violent price correction could occur.
This is because swing producers, especially U.S. Shale Drillers, won't be forced to drastically reduce production until prices drop below $60 per barrel over a long period of time.
According to a survey conducted by the Federal Reserve Bank of Dallas, existing wells in big shale areas can produce profit at U.S. crude oil prices of between $26 and $45 per barrel.
According to the survey, companies are also planning on drilling new wells between $61-$70 per barrel. Big offshore projects can also generate profits for much lower prices, between $40 and $50 per barrel.
The risk of overproduction will continue to increase if these producers maintain production.
There are certainly signs that drilling activity is slowing down in the U.S. Shale. According to Baker Hughes, the number of rigs operating onshore has decreased by 10% this year.
If the IEA oversupply scenario becomes reality, a larger correction will be required. Oil would need to fall to $50 per barrel for a prolonged period of time to force producers into a sharply reduced drilling activity.
President Trump – and U.S. customers – might be okay with it, but U.S. manufacturers and many OPEC member states would not.
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(source: Reuters)