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US Admiral Leading US Troops in Latin America to Step Down
Admiral John F. Kelly, commander of U.S. forces in Latin America, will retire on Friday two years earlier than planned. This is due to the rising tensions with Venezuela. Three?U.S. Two people who are familiar with the situation and three?U.S. Hegseth was said to have grown frustrated by Southern Command's efforts to expand U.S. military planning and operations in the region. A senior official confirmed that the discussion about whether Hegseth was going to dismiss Holsey began roughly two weeks prior to his surprise departure. Holsey's early retirement has not been explained publicly. Some officials privately speculated that he was against recent U.S. attacks on suspected drug ships in the Caribbean. According to Politico, Holsey claimed that in a meeting held behind closed doors with senior lawmakers, his decision had nothing to with the operations under his command. Holsey's deputy, Air Force Lieutenant General Evan Pettus will officially take over the command of U.S. Southern Command during a Friday morning ceremony. Pettus will be the acting head of U.S. Southern Command. According to a source with knowledge of the situation, President Donald Trump will nominate Lieutenant-General Frank Donovan as Holsey’s permanent successor. The source warned that the nomination was not finalized yet and could still change. Holsey’s premature retirement is not only rare, but also not unprecedented. In 2008, Central Command Commander Admiral William Fallon retired after a year of overseeing U.S. forces in the Middle East. He had made comments about Iran and other issues which irked Bush administration. Holsey's departure is the latest of a number of senior officers who have left their posts since Hegseth assumed control over the Pentagon. C.Q., the Chairman of the Joint Chiefs of Staff and others have left abruptly. Brown and Lisa Franchetti who was the top naval officer at the time, the first woman in that position, were both sacked. MONROE DOCUMENT REVIVAL? Holsey leaves as Trump signals a major shift in foreign policy. This week, a strategy document called for reviving 19th century Monroe Doctrine that declared the Western?Hemisphere Washington's zone. The U.S. has increased its military presence in the Caribbean, including deploying an aircraft carrier strike force. This policy change is also reflected by the new U.S. deployments of training to a revived jungle?school?in Panama. Trump has increased pressure in recent months on Venezuelan president Nicolas Maduro. Washington accuses Maduro of drug trafficking, which Maduro denies. Maduro says the U.S. military buildup is aimed at toppling him and grabbing Venezuela's oil. The U.S. Coast Guard seized an oil tanker from Venezuela on Wednesday, the first time the country has interdicted Venezuelan crude oil since the U.S. sanctions have been in place. Trump's military actions against alleged drug traffickers have come under scrutiny after a decision on September 2 to launch a second attack on a suspected boat of drugs in the Caribbean. The Law of War Manual of the Defense Department forbids attacking combatants who are incapacitated or unconscious, or those who have been shipwrecked as long as these individuals abstain from hostile acts and do not try to escape. The manual lists firing on shipwreck survivors among the "clearly unlawful" orders that should be rejected. The Trump administration has described the attacks as an attack on drug cartels. They have called them armed groups, and said that the drugs brought to the United States killed Americans. (Reporting and editing by Ros Russell; Additional reporting by Idrees Al; Reporting by Phil Stewart)
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AfDB loans Morocco $316 Million for airport improvements ahead of the 2030 FIFA World Cup
The African Development Bank (AfDB), announced on Friday that it would lend Morocco 270 millions euros ($316 million) to upgrade the country's airport infrastructure before hosting FIFA World Cup 2030. Morocco will invest $4 billion to increase the capacity of its airports to 80 million passengers by 2030. The current number is 38 million. This investment is part of a plan to prepare for an influx in tourists ahead of the World Cup which Morocco will be co-hosting with Spain and Portugal. Morocco, the most visited country in Africa last year, is already on track to'set a new record for tourism' by 2025. The country has reported 18 million arrivals as of November, compared to 17.4 million total arrivals during 2024. AfDB announced in a statement that the loan would help modernise airport equipment and expand passenger terminals at key tourist hubs such as Marrakech, Agadir and Tangier. This financing brings the total AfDB commitments this year to?Morocco to 1.3 billion euro, reaffirming the position of the country as the largest client of the?bank. The Moroccan government is also expanding the fleet of the state-owned airline Royal Air Maroc in order to strengthen its role as a regional hub connecting Africa with Europe, the Americas and Asia through its Casablanca based. $1 = 9.1922 Moroccan Dirham (Reporting and editing by Susan Fenton; Ahmed El Jechtimi)
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Asia spot prices near 2-year low due to ample supply and mild weather
The Asian spot price of liquefied gas fell to its lowest level in 20 months due to ample supplies and mild temperatures, which encouraged some importers who were 'price sensitive'. Average LNG price for delivery to northeast Asia in January Industry sources estimate that the price per million British thermal units was $10, down from $10.66/mmBtu last week. Estimated price for February was $9.60/mmBtu. Kesher Sumeet is a senior LNG analyst with Energy Aspects. He said that the mild weather and continued global LNG loadings continue to exert downward pressure on Asian gas prices. The 10-year average for heating degree days in the region is expected to be below that of the next two weeks following a brief cold spell in the first week December. HDDs are used to estimate the demand for heating?homes or businesses' by measuring how many degrees below 65 degrees Fahrenheit ( 18 degrees Celsius) a day’s average temperature. Sumeet?added softer prices had encouraged some Indian buyers as well as Chinese importers to increase their purchases. Martin Senior, Argus' head of LNG pricing, said that this spot demand is mainly driven by price-sensitive buyers, but the utilities in northeast Asia are well stocked. S&P Global Energy's daily Northwest Europe LNG Marker price benchmark (NWM) for cargoes to be delivered in January, on an ex ship (DES) basis, was $8.702/mmBtu as of December 11. This represents a discount of $0.525/mmBtu compared to the TTF hub price. Spark Commodities set the price at $8.78/mmBtu while Argus put it at $8.781/mmBtu. Aly Blakeway is the manager of Atlantic LNG, S&P Global Energy. She said: "Continued investment fund pressure, milder temperatures, and strong LNG and pipeline gas supplies are keeping the market bearish despite winter's lower storage levels. Blakeway added that Egypt also saw multiple diversions, as well as a cargo heading west, which has created uncertainty about its actual demand. According to independent gas analyst Seb K Kennedy, physical gas players are buying up the TTF drop, creating record net longs. Commercial operators are stocking up on cheap feedstock or winter hedges for cheaper prices, or as a way to lock in margins from their physical operations. Hedge funds, meanwhile, have extended their net short positions. According to Spark Commodities analyst Qasim Afghanistan, the U.S. arbitrage to Northeast Asia via Cape of Good Hope is widening and now points more to Europe. The arbitrage via Panama, on the other hand, has shrunk to breakeven levels. He added that the rates for LNG freight in the Atlantic fell to $115.750/day while rates in Pacific dropped to $84.500/day. (Reporting and editing by Emily Chow)
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Hensoldt will supply radars to Rheinmetall's Air Defence Division
The German companies announced on Friday that Hensoldt would?supply? the air defence division at Rheinmetall with radars for ground-based applications. Hensoldt SPEXER radars will be used to equip Rheinmetall Skyranger 30 Systems, providing target detection and tracking as well as the laser-based HoWiSM Drone Defence System. The companies did not provide a timeline for delivery. In late October, Rheinmetall and MBDA announced that the HoWiSM could be fully operational by 2029. Hensoldt & Rheinmetall released a joint statement saying that "different companies within the Rheinmetall Group can place orders" under the framework agreement. Drone incursions at airports and other sensitive sites across Europe have heightened the pressure on governments to increase protection against such threats. The companies stated that the agreement would be valid until 2030. Reporting by Maria Rugamer. (Editing by Matthias Williams, Mark Potter and Mark Williams)
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Ukraine claims it has hit two Russian vessels transporting military equipment on the Caspian Sea
Ukraine's Special Forces?said?Friday that they conducted an operation with what they called a local resistance group to strike two Russian ships transporting military equipment and weapons?into the Caspian Sea. They did not specify the date of the'strike. On Thursday, a Ukrainian official claimed that Kyiv had used drones to strike a Russian oil platform in the Caspian Sea for the first-ever time. This disabled the extraction of oil and gas from around 20 wells. The statement by the special forces on Telegram didn't say how or to what extent they hit the vessels. The ships were said to have been hit off the coasts of Russia's?republic Kalmykia. The Composer Rakhmaninoff, and Askar-Sarydzha were named as vessels that the U.S. sanctioned for carrying military cargo between Iran and Russia. The statement stated that the "Black Spark" movement of resistance had provided detailed data on the movements and cargoes of the ships. (Reporting and editing by Alison Williams, William Maclean; Max Hunder and Pavel Polityuk)
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Berlin eyes TenneT Germany majority stake, Boersen-Zeitung says
Boersen-Zeitung, a German newspaper, reported that the German government was in early discussions to 'acquire' a majority stake of?TenneT Germany power grid operations after agreeing in principle to take 25.1%. The financial paper cited sources that said 'Berlin was considering building a consortium with financial investors like Apollo, Blackstone, or Brookfield. Companies and the German Economy Ministry did not respond immediately to a request for comment. Boersen-Zeitung cited sources who said that the German government has also agreed to buy in principle a 25,1% stake in grid company's Dutch parent. Last month, a document from the Ministry of Economy stated that such a deal was close to completion. Berlin is 'considering' buying a 25% stake in order to maintain greater control over critical energy infrastructure, and to secure funding for the?massive investment needed to make the switch to renewable energy. (Reporting and writing by Holder Hansen, Tom Sims; editing by Thomas Seythal).
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Sources say that a vessel caught fire after the Russian attack on Ukraine’s Odesa Region
Two sources familiar with the situation said that a bulk carrier in Ukraine's Odesa area suffered damage and was on fire following a Russian attack on Friday. Sources said that the vessel was anchored in Chornomorsk - one of Odesa's three major Black Sea ports. Last week, Russia threatened to "cut Ukraine?off?from the ocean" in retaliation to Kyiv's attacks on unlicensed oil tankers headed to Russia to export their?oil. The attack on the ship was not clear at first. One source identified the vessel Cenk T. According to MarineTraffic's website, a Panama flagged vessel with that name was identified in the Black Sea about 21 hours ago. Could not independently confirm the flag of the vessel. Sources familiar with the situation have told? The vessel's Turkish owner. Ukraine's airforce reported Friday?missile and a drone attack on Odesa Region. (Reporting and writing by Yuliia Dyesa and Pavel Polityuk; Editing, Alison Williams, Kirby Donovan).
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LSEG data show that Russia's Sibur has shipped LPG to China from Ust-Luga for the first ever.
According to traders and LSEG's ship-tracking data, Sibur, Russia’s largest producer and supplier of liquefied gas, delivered a.first cargo to China via the Baltic Sea port of Ust-Luga. Sibur mainly supplies LPG to Turkey. However, the demand for LPG has declined by?5%-6% per year, according to traders. Algeria and the U.S. also dominate its market. A trader commented that it was becoming increasingly difficult to export additional LPG volumes to Turkey. According to LSEG the large gas?carrier Pacific Moon has arrived in the Chinese port of Quanzhou, located in?the southern Fujian area at the end November. According to industry sources, the company delivered approximately 33,000 metric tonnes of propane at Ust-Luga by mid-October. Sibur didn't immediately respond to a comment request. Sibur began supplying LPG in Ghana, West Africa, and India earlier this year. The company used medium gas carriers capable of transporting up to 20,000 tonnes of cargo. According to industry sources and LSEG, Sibur increased LPG'supplies' from Ust-Luga from January to November by 70%, to 860,000 tonnes, on an annual basis, after reducing them by 37% in 2024 to 570,000 tones from 2023. Reporting by. Mark Potter (Editing by Mark Potter).
Maguire: Europe's electricity costs fall as the gas heating season ends
Europe's businesses and households are beginning to enjoy a break from high energy costs as regional electricity prices have fallen sharply since their peak in 2025.
The wholesale spot power price across continental Europe has more than halved from its two-year peak in early 2025. This is due to the sharp decline in regional natural gas prices, which have fallen by a third in just one year.
The expansion of regional clean energy sources, particularly solar farms, has also helped to push down power costs. This should cushion Europe's utilities after a costly start to the year.
GASSED OFF
Due to a sharply reduced output from wind farms, European utilities will be forced to increase gas-fired electricity production in January and March 2025 by the highest level in three years.
Ember data shows that the cumulative output of wind farms in the first quarter 2025 was 15% lower than the same period in 2024 because the wind speed at the turbine level was below normal.
In Europe, wind power typically accounts for 15% of the total electricity supply. Regional utilities were forced to compensate this drop in clean energy by increasing output from natural-gas plants.
The total gas-fired electric supply from January to March was 332 Terawatt Hours (TWh). This was 7% higher than the same period in 2024, and was the highest level since 2022.
In the first quarter of 2025, natural gas will account for nearly 26% of Europe's electricity production mix. This is up from 24% in the previous quarter.
The higher dependence on gas during Europe's peak winter heating season also helped to push regional natural gas prices up by about 20%, reaching two-year highs in the first eight weeks of 2025.
Gas was the main source of energy for European utilities in that time period. Power suppliers had to pay for gas and then pass some of those costs on to the consumers through higher energy bills.
The higher electricity bills put additional strain on European households and businesses, who were already struggling with a weak economy and the renewed tariff turmoil from President Donald Trump's new administration.
BRIGHTER OUTLOOK
The European gas-fired utility power production will drop sharply now that winter is over.
Gas-fired electricity production in Europe has dropped by 25% over the last three years between March and Juni, as heating demand slowed and solar farm output peaked.
The regional gas price could be further reduced by 2025 if the same reduction is made in gas production. This would also help to reduce the costs for power producers in this region.
Gas-fired power generation will drop to its lowest levels this year, but utilities and storage operators should replenish their stockpiles in advance of winter.
The total volume of purchases of gas is expected to be significantly lower than what was seen in the first quarter of this year.
This will help to keep regional power prices on the decline and limit any upward momentum in gas prices.
Low Points
According to LSEG, the average wholesale peak electricity price in Germany - Europe’s largest economy and energy consumer - has been around 72 euros per Megawatt Hour so far in April.
This is a significant reduction from the peak of 144 euros that was reached in February.
In the Netherlands and Poland, power costs have fallen by similar amounts. In Spain, they are now more than 80% lower than their peak in February. Italy's power costs, which are often the highest in Europe, have dropped by a third since their peak in 2025.
Over the next month, we can expect to see some additional weakness in power prices as solar power production reaches its annual peak. This will flood regional power grids and power plants with excess electricity.
The month of May 2024 marked the lowest wholesale power prices for France, Germany, the Netherlands and Poland. Prices will likely reach their lowest point around this time again in 2019.
If power prices were to drop to their lows from last May, the price in Germany could fall by an additional 20%.
The current average power price is below the 2024 average. This suggests that there may not be much room for further declines, especially if firms have to incur extra costs in this year due to gas stock rebuilding or grid upgrades.
The fact that energy costs are now significantly below their peak in early 2025 should give consumers some relief from the high bills seen this winter. These are the opinions of the author who is a market analyst at.
(source: Reuters)