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Greek F-4 crashes during air show near Athens, two pilots dead, sources say
Two officials confirmed that a Greek two-seat F-4 Phantom fighter jet crashed on Saturday during an airshow at Tanagra Air base north of Athens killing both pilots. The two pilots were confirmed dead by an official, who added that the Phantom crashed two kilometers outside of the airport. There was no report of injuries amongst the residents or passersby. ERT, a public?broadcaster, broadcast footage of the F-4 making a right turn a couple meters above ground before it crashed into a fireball. Eleven helicopters and firefighting planes were working to contain the fire which spread into the nearby forest. "We were all stunned. An eyewitness reported to ERT that the plane hadn't been in flight?for a?more than?three minutes. Loudspeakers were installed at the air base to urge people to leave the area. The F-4 took part in the annual Athens Flying Week. This event attracts military and civilian aviation teams from around the world.
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Protesters in Dover, England disrupt cross-Channel travel
Police and port authorities reported that groups of masked men protesting on roads around Dover (the main hub for ferries to France) disrupted traffic on Saturday. Social media videos posted by users showed men wearing black and balaclavas, and wearing scarves and?scarves, blocking roads at the port. Kent Police confirmed that it was "aware" of a protest currently taking place in the Port Of Dover. In a short statement, the police said that officers were present and engaged with protesters. The police didn't immediately respond to an inquiry for more information and details about the protest. The Port of Dover said that there is a "continuing public order incident" around the town of Dover, affecting all routes into and out of the port. The statement read: "We are in touch with Kent Police to understand the situation." Ferry operator P&O Ferries confirmed that its sailings are proceeding as planned. If you miss your booked departure today, we'll get you on the next available," said X.
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US Judge again blocks Postal Service’s mail-in vote restrictions
Federal Judge extended the ban on President Donald Trump’s administration from implementing new U.S. Postal Service rule that would increase the number of mail-in votes required ahead of November's congressional elections. Boston-based ?U.S. District Judge Indira Telwani issued this injunction on behalf of Democratic-led state and voting rights organizations, after one State sent out mail ballots to the elections last Friday. Talwani wrote only Congress' laws can override state authority in elections. She added that "the executive does not have inherent authority" to change voting rules. Talwani wrote that Congress never delegated voting authority to the Postal Service. The new rule of the agency "is in conflict with Congress's statute scheme and is unconstitutional." Talwani wrote that the immediate deadlines required by the Postal Service rule would cause "chaos" among groups who provide information on how to vote. The League of Women Voters, for example, "does not know whether or not to advise its members to vote via mail, despite their legal entitlement," Talwani's ruling states. The administration filed an appeal notice quickly. USPS refused to comment on this ruling but U.S. postmaster general David Steiner defended their handling of the matter. Steiner stated on Friday that "we have always acted within our legal authority" to issue a regulation to achieve these policies. However, the courts will ultimately decide this question and we will follow their determination. The White House didn't immediately respond to our request for comment. RULE ON POSTAL SERVICES FOLLOWS TRUMP'S ORDER According to the rule, the USPS must receive lists of recipients for mail ballots from the states. All outgoing and return?ballot envelops must have unique barcodes. Under the rule, the USPS may refuse to deliver any ballots that are not compliant with the new standards, or those associated with voters not appearing on the list. Talwani is an Obama appointee who issued a temporary injunction last week to stop the USPS from enforcing its rule. She was deciding whether or not to issue a more permanent injunction. The administration asked the U.S. Supreme Court on Thursday to intervene and lift a temporary order, so that the rule can take effect. Last week, the court's conservative majority of 6-3 lifted an order Talwani had issued that prevented USPS from imposing restrictions. USPS released its rule in March to implement the executive order that Trump signed after years of calling for restrictions on voting by mail. All 50 states permit some form of mail in voting. 29 states allow voters to request to vote by mail, without providing any reason. Eight other states conduct their entire election by mail. North Carolina became the first state to mail ballots in the November elections on Friday. If the rule is allowed to go into effect, it could force state officials to make changes to their systems in just a few weeks, to conform to a system critics say USPS has not yet implemented. Talwani stated that it is "implausible", that states will be able comply with this rule in time for the upcoming elections of this year, since it would require 10,000 jurisdictions redesigning their ballots, printing them, and submitting voter information to an online portal run by USPS that doesn't yet exist. The court concluded that the disenfranchisement of Plaintiff Organizations members, regardless their residence, was inevitable. The administration asked a federal court of appeals to overturn Talwani’s original restraining orders. The 1st U.S. Circuit Court of Appeals in Boston had not yet acted on this request. Circuit Court of Appeals hadn't acted on this request before the Judge issued her latest ruling.
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US Judge again blocks Postal Service’s mail-in vote restrictions
On Friday, a federal judge in Boston extended a ban that prevented President Donald Trump from implementing any new?U.S. Postal Service rule would increase the number of mail-in votes required ahead of November's congressional elections. The Boston-based U.S. district judge Indira Talwani issued an injunction on behalf of Democratic-led States and voting rights groups, after the country's first state sent out its mail ballots?for the elections?on Friday. Talwani is an Obama appointee who issued a temporary injunction last week to stop the USPS from enforcing its rule. She was deciding whether or not to issue a more permanent injunction. On Thursday, the administration had asked the U.S. Supreme Court for intervention and to lift the restraining orders so that the rule could go into effect. Last week, the court's conservative majority of 6-3 lifted an order Talwani had issued that prevented USPS from imposing restrictions. USPS released its?rule in order to implement the executive order Trump signed back in March. This was after the Republican President had called for years to restrict voting via mail, and pushed the?false claims that the defeat of his 2020 presidential election to Democrat Joe Biden resulted from widespread voter fraud. All outgoing and return ballot envelopes are required to have unique barcodes. USPS may refuse to deliver any ballots that are not compliant with the new standards or those associated with voters not listed on the list. Talwani was temporarily blocked by voting rights advocates, and several Democratic-led States, last week. They argued that the rule could disenfranchise voters, and violated the U.S. Constitution which grants states the power to administer elections. The lawyers of the U.S. Department of Justice countered by stating that USPS has the authority to implement "modest" requirements for envelope design. The state election officials said that if the rule was implemented, they would still have full control over who can vote by mail. All 50 states permit some form of mail in voting. In 29 of those states, voters can?ask for a mail-in ballot without providing any reason. Eight other states conduct their entire elections by mail. North Carolina became the first state on Friday to mail ballots in the November elections. If the rule is allowed to take effect, it could force state officials to restructure their systems in just a few weeks before elections to comply with a system that critics claim USPS isn't ready to implement. Many state election offices have already printed their envelopes and votes. In a court document filed on Thursday, September 3, a USPS official stated that the 'online portal states would use to upload voter lists is not yet active. The official said that states could use the portal at some point in the week of Sept. 7. The U.S. released a whistleblower's statement on Tuesday from an anonymous federal employee. Senator Richard Blumenthal of Connecticut, a Democrat, alleged on Tuesday that USPS was rushing into implementing a 'new system created hastily that risks disrupting the delivery during the election of mail ballots. The administration asked a federal court of appeals to overturn Talwani’s first restraining orders. The 1st U.S. Circuit Court of Appeals in Boston had not yet acted on this request. Circuit Court of Appeals hadn't acted on this request before the Judge issued her latest ruling.
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Panama Canal defers Neopanamax draft reduction
The Panama Canal Authority on Friday postponed further a planned reduction in the maximum draft allowed for its Neopanamax locks to '14.48 meters (47.5 feet), which was scheduled to go into effect on October 1. This decision was made due higher than expected water levels at Gatun Lake, and favorable weather forecasts. A ship's draft is the minimum depth of water it needs to be able to float. If the limit is lower, the vessel may need to carry less cargo to get through the canal. In the Neopanamax lock, a maximum draft of 48 ft (14.63 meters) will continue to be allowed. The authority didn't give a new deadline for the potential reduction, but said that it would make any future adjustments to draft?in due time. The authority delayed the move from 14.48 meters up to 14.63 meters for the Neopanamax locks until October 1. The move was accompanied by a reduction in daily transits to prepare for an El Nino-like season that is expected to lower water levels. This reverses a previous promise not limit vessel passage.
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US Senate Democrats ask Postal Service to stop work on new mail-in voting regulations
The?U.S. Postal Service was urged by lawmakers to halt the work on new mail-in voting rules. Postal Service ordered the halt to "work" on new rules for mail-in voting, Friday. In a letter to the USPS, Senator Gary Peters from Michigan and six other Democrats on the Senate's Homeland Security and Governmental Affairs Committee wrote: "The Postal Service’s continued illegal efforts to transform itself into an electoral administration agency under the direction of President Trump risk disenfranchising American voters and threatening the integrity of the upcoming elections." On Thursday night, the Trump administration requested that the Supreme Court allow it to enforce a new USPS rule restricting the use mail-in votes. USPS didn't immediately comment. The Democratic Senators -- Peters, Richard Blumenthal, Maggie Hassan, Andy Kim, Elissa, Slotkin, and John Fetterman, all of Pennsylvania, and Ruben, Gallego, of Arizona -- warned that the "verification" system planned by USPS "could collapse the absentee voting system, and disenfranchise millions of Americans." U.S. district judge Indira Talwani issued an order temporarily prohibiting the USPS to enforce the new rule. The USPS adopted the new rule following an executive directive by the Republican President restricting mail-in votes. USPS regulations would require new standards for voter data and ballot envelopes, and could refuse delivery of any ballots that did not meet these requirements. Critics say this could lead to thousands of votes being invalidated as the election date of November 3 draws near. Republicans are in a fierce battle to "retain" control of Congress during the elections. Critics claim that restricting mail in ballots would benefit Republicans more than Democrats, since Democratic voters are traditionally more likely to mail in ballots. The new USPS rule requires that states provide the postal service with lists of voters who will be receiving mail ballots. They must also use envelopes for outgoing and return mail ballots which are approved by the agency, and have barcodes. Postal?services could refuse to send ballots that don't comply with new standards, or are associated with voters not listed on the list. Trump has cast doubts on the security of mail-in votes for years, even though evidence of voter fraud in rare. Trump has falsely claimed that widespread fraud is occurring in U.S. election, including his loss to Joe Biden as former Democratic president in 2020.
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Norway will help Russians stuck in Arctic after ship seize, says government
Norway's foreign ministry said on Friday that it would provide the necessary assistance to Russians in the Arctic Svalbard Islands following the arrest of a ship carrying passengers and supplies to the archipelago. The Norwegian court ordered this week the seizure of the Professor Molchanov Cruise Ship in Svalbard on behalf of an Ukrainian company involved in legal disputes, leaving its passengers and crew stranded and leading Moscow accuse Norway "piracy". Norway's Foreign Ministry said that they were complying with their international obligations by protecting Russian citizens in Svalbard. Statistics Norway reports that the town of Barentsburg is where the ship is docked. It is one of two Russian settlements in Svalbard, with a total of 392 residents. The ministry said that Russian companies receive regular'sanctions relief' to allow them to import food and other essential goods to the islands. According to Cruisemapper's website, the 71-metre-long Professor Molchanov has 32 crew members and 52 passengers. It also features a bar, a sauna, a library and two restaurants. The vessel is used both for commercial cruises and scientific expeditions. The seizure of the assets was ordered by a court on behalf Naftogaz - a Ukrainian energy company - which is seeking to enforce a compensation award of $4.22 billion for 'assets Moscow took in 2014 when it annexed Crimea. Russia plans to appeal this ruling.
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What is Ukraine's SBU Security Agency?
On Friday, Russia launched a drone at the Security Service of Ukraine's (SBU) headquarters in central Kyiv. Ukrainian authorities called it the latest in a series of war escalations. The following are key facts about the organization. What is the?SBU? SBU is an enigmatic and powerful organisation which emerged from the Ukrainian branch KGB of Soviet times when Ukraine became independent in 1991. The SBU has broad powers over matters of domestic security. It has been involved in combat since the Russian invasion of 2022, and it is now investigating war crimes, countering a cyberattack, conducting counterintelligence, and catching Russian agents. Alpha special forces have also conducted drone attacks against Russian military hardware in the field as well as on oil refineries and other military installations deep within Russia. They've also used sea drones against tankers transporting Russian oil. Authors of 'Operation Spiderweb' It has claimed to have carried out some spectacular wartime operations against Russia. For example, it used a truck bomb to attack Russia's bridge into the occupied Ukrainian peninsula Crimea in 2022. Last year, the organization masterminded a sophisticated '2025 drone strike, codenamed Spiderweb. It targeted a number of Russian strategic air-bombers deep within Russia. It is widely regarded as being a key player in the covert campaign to assassinate senior Russian military figures and others who are blamed by Ukraine as having committed war crimes. Russia has called these killings terrorist attacks. Who is in charge of the?SBU? According to President Volodymyr Zelenskiy, the agency is headed by Oleksandr Pklad. His office was the target of the drone which hit the SBU headquarters in Kyiv last Friday. Poklad was not hurt, according to the agency. He was appointed in July. How big is the SBU? During the war, the SBU grew in size. The SBU's size is secret, but the maximum number of employees it can have in wartime is 41,000. The figure is probably in the same ballpark. Last year, the legislative cap was raised from its previous threshold of 31,000 personnel during wartime. BITTER RIVALRY WITH MILITARY INTELLIGENCE The 'SBU' has had a long-standing rivalry with Ukraine's military spy agency, the Main Intelligence Directorate. This week, a dispute between the two organisations escalated into a shooting in Kyiv that left several military intelligence officers injured. Zelenskiy ordered an investigation to determine what happened.
Maguire: The ROI-US Energy Cushion faces a new stress test when Middle East risks are rising again
Since years, the US has become less vulnerable to the turmoil in the Middle East.
The United States, as 'the world's leading producer of natural gas and oil, is better protected from supply shocks overseas than it was during previous Gulf crises. The latest escalation between Iran and the Houthis comes at a sensitive time.
Energy infrastructure in the U.S. is already being strained by record electricity consumption, summer fuel peak, and growing data center?load.
The 'country is still a 'energy-rich country, but the question now is not whether it has an abundance of supplies, but if production can expand fast enough to keep up with demand.
This helps to explain why traders and policymakers pay unusually close attention a few key indicators. Together, these indicators provide a measure of resilience in the U.S. Energy System as geopolitical risk in the Middle East is once again at the forefront of energy markets.
METRICS KEY
Metrics that are closely monitored include crude oil production, natural-gas output, electricity production, refinery throughput, gasoline supply and storage levels of natural gas.
Each provides a unique window on the strains across the entire energy system.
Crude oil production is a good indicator of whether the domestic supply continues to grow fast enough to offset global disruptions.
Natural gas production will reveal whether the fuel that powers much of the U.S. electricity sector can keep up with the rising demand for electricity.
The data shows how utilities are working hard to meet the peak summer load from homes, businesses, and data centers.
The refinery's throughput and the gasoline production are used to determine if enough fuel is produced for transportation during the busiest driving period of the year.
Natural gas storage levels are the ultimate balancing metrics, showing if the system is still able to balance supply and demand comfortably or if the cushion of the system has begun to shrink.
These indicators, when taken together, show whether the United States has added spare capacity or resilience to existing infrastructure, or is simply operating it closer to its limit.
CRUDE OIL
According to U.S. Energy Information Administration data, U.S. crude production is close to a record of 13.8 million barrels a day (bpd). This helps offset external'supply shocks.
Baker Hughes reports that only 450 drilling rigs are currently active, compared to a peak of 1,600 in 2014. This means there is still some drilling capacity available if drilling costs improve.
This potential for a supply response could help to temper concerns about prolonged oil price spikes resulting from geopolitical disruptions, or tighter global inventory.
NATURAL GAS
According to the EIA U.S. dry-gas production is close to a record of 111 billion cubic foot per day (Bcf/d), supporting a power industry increasingly dependent on gas-fired generators. The rig count suggests that there is room for growth in the short term, but mature basins and increasing extraction costs may limit long-term supply.
The U.S. Gas Markets are well-positioned to meet the rising demand. However, longer-term growth may be more limited than previous cycles.
REFINED PRODUCTS Refineries operate at near-record rates, processing over 17 million barrels per day of crude oil. Gasoline inventories are about 9% lower than a year ago, which indicates that fuel supplies are tighter than what refinery activity would suggest.
The fact that U.S. refining facilities are heavily geared towards exports is a major factor in limiting the growth of domestic fuel supplies. Fuel costs on several international markets are significantly higher than those in the U.S.
The strong demand for exports has therefore limited the amount of inventory that can be accumulated at home as a result of increased refinery activity.
GAS STORAGE
Storage is a reflection of the balance between demand and supply.
Gas inventories in the U.S. are similar to last year's, which indicates adequate reserves. However, near-record LNG imports indicate that underlying conditions may be tighter than data on storage suggests.
In the short term, LNG exporters will be able to purchase large quantities of gas due to strong demand in Asia and Europe. This could lead them into a competition with power generators for gas supply.
ELECTRICITY GENERATION
According to LSEG data, U.S. -power generation has increased by around 2% compared to a year earlier, mainly due the widespread heatwaves and the steadily increasing electricity demand of homes, businesses, and data centers.
The increasing power consumption makes it more important to have a reliable fuel supply and adequate generating capacity at peak demand periods.
The U.S. energy system continues to grow, but periods of low wind generation, extreme temperature or other operational disruptions may quickly cause a tightening in supply-demand and lead to a greater reliance on gas-fired power plants.
In the United States, the amount of spare capacity in our energy system is a key indicator.
The Big Picture
These indicators together provide a measure of energy resilience in the United States.
The overall balance is reflected in the oil and gas production, power generation, refined products, fuel availability, and gas storage.
The data indicates that the energy system is well-supplied.
As tensions in the Middle East rise and domestic demand continues to climb, these metrics can reveal whether or not the United States has built new resilience - or is simply relying upon ever-thinner margins for spare capacity.
These are the opinions of the columnist, who is also an author. This column is great! Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
(source: Reuters)