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Repairs at CPC Terminal continue, despite a steady decline in Urals.
Market sources reported that the differential between Urals crude and CPC Blend remained unchanged on Monday. However, export volumes of CPC Blend remained uncertain due to?repairs continuing on single-point mooring units (SPMs)?at CPC Terminal. CPC is loading oil into SPM-1. SPM-2 has been taken out of service due to a drone attack by Ukraine, and SPM-3 undergoes scheduled maintenance. Oil prices rose on Monday, after the U.S. Coast Guard attempted to intercept an oil-tanker in international waters near Venezuela, a day earlier. Ukraine also damaged two vessels in Russia and their piers, increasing the risk of disruptions in oil supplies. PLATTS WINDOW The traders reported that no bids or offers for Urals, Azeri BTC, and CPC Blend were made on Monday. Authorities in southern Russia said that a drone attack by Ukraine in the Krasnodar Region of Russia damaged two vessels and two piers. * Ukraine announced on Saturday that its?drones' struck a Russian oil platform belonging to Lukoil, in the Caspian sea. Kyiv is stepping up its attacks on Moscow’s oil infrastructure. (Reporting By)
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Waymo restores service in San Francisco after power outage
Waymo, an Alphabet division, announced on Monday that it had resumed its ride-hailing services in the San Francisco Bay Area after suspending them temporarily due to a power outage which caused gridlock and snarled up traffic. The company paused its service 'Saturday night following a fire that broke out at a PG&E substation, knocking out power for roughly one-third?of the city. This affected about?130,000 people and forced some businesses to temporarily close. Waymo reported that most trips were completed without incident before the vehicles returned to their depots or stopped. A spokesperson for Waymo said, "We're committed to earning and maintaining trust with the communities that we serve every day." Waymo stated that it would ensure its technology was better adapted to traffic conditions when similar disruptions occurred.
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"You do what is possible": LGBTQ+ leaders fight Trump
In 2025, the number of LGBTQ+ individuals in elected office will be at a record high. Lawmakers fighting federal and state attacks against community Mid-term elections bring hope to combat anti-LGBTQ+ legislation Lucy Middleton Parents or caregivers can refuse to accept a child’s gender identity in one law, and pull their children out of classes discussing LGBTQ+ issues under another. North Carolina's rules define only two genders, prohibit gender affirming care in prisons, and prevent?trans students using facilities that are aligned with their identities. "Instead they focus on divisive issues and hurricane relief," Alston said, a Democrat lesbian who spoke at the International LGBTQ+ Leaders Conference held in Washington, DC, this month. "Unfortunately, my party members - this year we do not have the leverage to stop all of the bad things that are happening." Alston is among the record-breaking 1353 LGBTQ+ elected officials who are in office in the United States this year. She has spent the last 2025 years fighting to protect her community's rights, under Donald Trump's presidency. In January, the president launched his second term by launching policies and executive order to target the LGBTQ+ community. These included limiting access to gender affirming care, ending non-binary acceptance, eliminating diversity, equality, and inclusion (DEI), and defunding inclusive health initiatives. Trans Legislation Tracker, a data-analysis site, reports that more than 1,000 bills aimed specifically at trans people have been introduced in the United States this year. Legislators who are LGBTQ+ face a double challenge: balancing federal policy while protecting the community against state-level change. Alston's general assembly is dominated by Republicans. "You do as much harm reduction as you possibly can. You try to educate as many voters as you possibly can. And then, you recharge so that you can do it all again tomorrow." Federal vs. State Trump promised to end "transgender ludicrousness" soon after his election. He has framed trans rights as a threat against others, especially women and children, throughout his executive orders. Nearly one year after Trump took office, the directives have had a varying impact across the nation, depending on state laws and political affiliation. Michigan's top attorney Dana Nessel revealed that Democratic Attorneys General from across the country meet online every two days to coordinate lawsuits filed against the administration. A coalition of states including California, Maine Michigan and Wisconsin filed a lawsuit in August challenging Trump's ban on gender affirming care for children, claiming that it interfered with state authority. "A big problem is that I sometimes fight as hard against Republicans in the state legislature as against Trump at the national level," said Nessel. He is the first openly LGBTQ+ elected to a statewide office of Michigan. It's sometimes hard to do both at the same time. Maine lawmakers have successfully blocked a proposal to prevent trans students from using bathrooms, single-sex shelters and changing rooms that are aligned with the identity they identify. A Republican Representative shared the name of a transgender child and his school on social media. The law passed by the state protects minors against being doxxed. It's not easy to stand up for what you believe in. "We're seeing it across the country: hateful people are targeting children," said Ryan Fecteau. He is the Speaker of the Maine House of Representatives. We should ensure that bullying children is not tolerated. ANTILGBTQ+ LAWS Idaho, Arkansas Montana and Wyoming are the states that have the most anti-LGBTQ+ legislation. In Florida, which is often considered the birthplace of such legislation, after its "Don't Say Gay", a 2022 law that limits discussion about LGBTQ+ topics in school, all attempts to anti-LGBTQ+ laws in 2025 failed. Republican Gov. Ron DeSantis removed multiple rainbow crosswalks, including a memorial for the 49 people who were shot at Pulse Nightclub in Orlando in 2016. This was to comply with the?instructions of Trump's Transportation Secretary to make road markings "free of distractions." Carlos Guillermo Smith is one of Florida's two well-known LGBTQ+ state Senators. He said that the removal of crosswalks had led people to find alternative ways to display rainbows in public by using private businesses. Smith said, "We saw the community rise up and say they will not be erased. They have found new locations where they can rebuild gayer." SECURITY FEARS Representatives from multiple states expressed concern that LGBTQ+ individuals were leaving not only their state, but the United States as a whole. It's the worst thing I've ever experienced. People have asked, "Should I go? Am I safe? Am I safe here? Alston is based in the city of Durham. "That's hard, because I have no good answer." North Carolina is a beautiful state, but some parents are worried about their children's treatment in school. Many Democratic officials from?Republican led states hope that next year's election will be beneficial to the LGBTQ+ community. All seats in the U.S. House of Representatives, a third of the U.S. Senate, and many state positions will be up for grabs in November 2026. Venton Jones is a Texas State Representative. "Right Now, we must do all we can to mobilize the communities, not only to vote, but to get to know their neighbor so that they can do this work," he said.
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After new US interceptions, oil loading in Venezuela has slowed. More ships are making U-turns.
According to tracking data, and sources, tanker loading in Venezuela has decreased on Monday. Most ships are only moving oil cargoes between domestic ports after U.S. action against two more ships, and while state-run PDVSA is struggling to recover from a recent cyberattack. U.S. officials said that the U.S. Coast Guard seized this month an oil supertanker carrying Venezuelan oil under sanctions and attempted to intercept "two more" Venezuela-related ships on the weekend. The U.S. Coast Guard seized a supertanker carrying Venezuelan oil this month and tried to intercept?two more?Venezuela-related ships over the weekend, U.S. authorities said. Washington hasn't provided any updated information about the ships. Last week, U.S. president Donald Trump announced a ban on all oil tankers that are subject to sanctions from entering or leaving Venezuela. Trump's campaign of pressure on Venezuelan president Nicolas Maduro includes a stepped-up military presence and over two dozen military attacks on vessels that the U.S. claims are "transporting drugs" in the Pacific Ocean or Caribbean Sea near South America nation. At least 100 people were killed. OIL PRICES ARE RISING The interceptions of the vessels have been the biggest blow to PDVSA ever since the U.S. Treasury Department imposed sanctions in 2020 on two units from Rosneft that were former oil trading companies owned by PDVSA, forcing them to reduce their output and exports. Brent crude futures rose?2.17% on Monday to $61.78 per barrel, while U.S. WTI oil rose 2.2% to $57.77 in response to U.S. action and Russia's conflict with Ukraine. Both developments raised fears of supply disruptions. PDVSA delivered heavy crude of 1.9 million barrels to the Aruba flagged vessel Azure Voyager on Monday at the Jose port. However, no other supertanker bound towards Asia was scheduled to load anytime soon, according documents from the company. In recent days the number of tankers loaded with Venezuelan oil that haven't left has increased. Millions of barrels are stuck on ships while customers demand higher discounts and contract modifications to make risky trips beyond Venezuelan waters. LSEG monitoring data revealed on Monday that some tankers nearing Venezuela's coastline, whether to load oil to export or deliver imported naphtha for import, made U-turns recently or suspended navigation until owners clarified instructions to load. PDVSA slowly restores some online systems, and is resorting to paper records following a cyberattack that occurred last week. Sources said that the company was unable to re-establish its centralized administrative system and many employees have not received their salary on time. PDVSA, Venezuela's Oil Ministry and the Venezuelan Oil Ministry did not respond to requests for comments. Yvan GIL, the country's Minister of Foreign Affairs, stated on Monday that U.S. seizures violate international law and constitute "acts" of piracy. China's Foreign Ministry stated on Monday that the recent U.S. interception was a serious breach of international law. LSEG ship data revealed that PDVSA's principal joint-venture partner Chevron shipped a 500,000 barrel cargo of?Venezuelan crude oil to the U.S. Gulf Coast via one of its tankers on Sunday. The shipment was authorized by the United States. In a post on social media, Delcy Rodriguez, Venezuela's Oil Minister said that Venezuela hadn't interrupted Chevron's deliveries. The video included showed the Venezuelan maritime authority watching over the departure of the ship. Monitoring data shows that Chevron exported seven cargoes of Venezuelan oil into the U.S. in this month. Each one contained between 300,000 to 500,000 barrels. US ACTIONS PURSUED A satellite image acquired by TankerTrackers.com revealed that the Panama-flagged supertanker Bella 1 was drifting northeast of Bermuda, in the Caribbean on Monday. An official from the United States told reporters on Sunday that no one had boarded the tanker and that there were many ways to intercept vessels, including flying or sailing close. On Sunday, maritime sources reported that the loaded vessel Skipper - the first to be seized by the U.S. in this month - had reached an area near Galveston port, Texas, for the transfer of oil cargoes.
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Brazil Senator Bolsonaro pledges to moderate father’s legacy in Presidential run
Senator Flavio Blsonaro is the son of former Brazilian President Jair Bolsonaro. He plans to run for president next year in order to moderate his family's legacy and deliver?smaller government?, tax cuts, and privatizations. In his first international interview since announcing his presidential ambitions earlier this month, the Senator said that he planned to travel abroad next January. The senator may visit the United States as well as Argentina, Chile and Israel. He could also travel to Europe, the Middle East, Europe, and the Middle East. He was elected to Brazil's Senate on the conservative wave which brought his father Bolsonaro to the presidency. He vowed to continue the reforms of the older Bolsonaro while distancing him from the right-wing cultural wars. "I think of myself as a more moderate Bolsonaro," Bolsonaro said in an interview on Friday afternoon from his Brasilia offices, which were decorated with miniaturized versions of his father, Donald Trump, and the U.S. president. "I have always been more moderate and measured." A?VACCINATED BOLSONARO After winning the endorsement of father, who is now serving a sentence of 27 years for a failed plot to overthrow the government, Senator Bolsonaro has been pitching himself as a conservative without baggage when it comes to topics like COVID-19 vaccinations. "I'm a Bolsonaro that got vaccinated." "I took two doses AstraZeneca and my father did not want to," he said. The news of Bolsonaro Junior's candidacy in the financial markets this month was a shock. Investors bet that the former president would support a more experienced candidate, such as his former Infrastructure Minister, Tarcisio de Freitas of Sao Paulo, in order to prevent a fourth term for leftist President Luiz nacio Lula da Silva. The Evangelical Firebrand Pastor Silas Malafaia has cast doubts on his father's "political muscles." The senator, who acknowledged the skepticism of some political allies but insisted that he could unite the right to deliver a bold, pro-market agenda by prioritizing fiscal balance, reduced spending on the public sector, modernization and the State, and an obsession for lower taxes. Recent polls have him in the lead among a large group of right-wing candidates for president, but he trails Lula by a significant margin in a possible runoff. LEANER STATES AND PRIVATIZATIONS Bolsonaro's economic vision includes cutting taxes, modernizing state and privatizations in order to energize Latin America’s largest economy. This could include the debt laden Brazilian Postal Service. He also suggested that Petrobras, the state-run oil firm, should be examined more closely to see if it could divest assets or streamline its operations as his father did. He said that the oil company was a conglomerate. "We have to find out what works, what should be continued and what does not work." Senator said that he saw also room to shake up Brazil's aviation market by introducing new competition and improving services and prices. "Today, you have only a few airlines in Brazil," he said. He said that his brother Eduardo Bolsonaro is organizing his travels abroad next month. Eduardo Bolsonaro lost his position as a federal legislator after moving to the United States in order to push for a response to his father’s trial. It was unclear to the senator if he will meet with senior U.S. government officials during his trip. He would still like to meet Trump and invite him to January 2027's inauguration, if Trump wins the election in October. Reporting by Luciana Magnhaes Editing and reporting by Manuela Andreoni Brad Haynes, Franklin Paul
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Honeywell to charge $470 Million for Flexjet Settlement
Honeywell said Monday that it expected to "record a one time charge of about $470 million" in the fourth quarter related to a possible settlement of Flexjet litigation. This sent its shares down by 1.3% during premarket trading. Flexjet, a private aviation company, sued Honeywell on?March 20, 2023 for allegedly breaching an agreement regarding aircraft engine maintenance services. Flexjet demanded liquidated damages for?delayed repairs of engines and said the damages continue to accrue each month. Honeywell updated its full year outlook, as it plans on reporting its 'Advanced Materials Unit' as discontinued operations beginning in the 'fourth quarter 2025. This follows the successful spin-off of Solstice Advanced Materials. The industrial conglomerate's profit forecast for this year is now between $9.70 to $9.80 per share, down from the previous estimate of $10.60 - $10.70.
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Telecom Italia ditches costly savings shares
Telecom Italia has announced a 'long-awaited' plan to convert expensive savings shares into ordinary stocks after a windfall compensation that will help the company resume dividend payments which were halted by 2022. TIM won a case involving concession fees worth 1 billion euros ($1.2 billion). The company can now proceed with a conversion that, according to the company, will simplify its capital structure and governance. It will also reduce costs associated with multiple share classes. TIM's shares of savings rose by 9% on Monday morning after the company announced the terms of conversion late Sunday. By 1040 GMT, the gains had fallen to just 4.5%. The ordinary shares of the?company were down by 2.2%. Intermonte analysts, who advised TIM together with Goldman Sachs on the 'plan,' said the move could cost TIM around 630 million euro. Intermonte stated that if TIM reinstates dividend payments from next year onwards, the savings resulting from the cancellation of the privileged class of shares, which pays higher dividends, are estimated at around 1 billion euros. Davide Leone's London-based investment company is the largest holder of TIM saving shares. He welcomed the?proposed term as "market-friendly", and said that it was good for both types shareholders. TIM called meetings for ordinary shareholders and savings investors on January 28, to?vote about the proposal. Poste Italiane is TIM's biggest shareholder, with a holding of 27.3%, and supports the conversion despite its dilutive effects on its stake. Poste Italiane would lose 19.6% of its stake if the conversion were to take place. Sources said that the Italian Post Office is examining options to rebuild a stake in TIM, including transferring PosteMobile, its phone service business, to TIM as an exchange for shares. For voluntary conversion, savings shareholders will be offered a new ordinary share in exchange for each saved share. They will also receive 0.12 euros cash. Savings shares that remain after the conversion period will be converted in the same ratio, but with a cash adjustment of 0.04 euros.
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Azerbaijan wants to increase food wheat production and reduce Russian import dependence
Azerbaijan imports the majority of its food grade wheat from Russia and plans to increase local production in the coming years to 50% of needs from 20% currently, according to a senior official at the agriculture ministry. Azerbaijan wants to reduce its dependence upon imports from Russia, which is the largest exporter of wheat in the world. Azerbaijan imported 1.292 millions metric tons of wheat from Russia in 2024. Seymur afarli is the head of the Crop Production Organisation and Monitoring Department in the Ministry of Agriculture. He said that the annual demand for Azerbaijan's food-grade grain?stands around 1.8 million tons. Azerbaijan is increasing its wheat imports from Kazakhstan. This country currently accounts for 9% Azerbaijan’s total imports. Safarli stated that the ministry plans to gradually increase output by rolling out new irrigation systems, improving farming techniques and encouraging consolidation in the sector. He also said that imports will likely remain the same in 2026. Azerbaijan has launched a programme with the support of the state to boost production of high-quality grains by 2022. In 2025, the program will see around 23,000 hectares of food-grade wheat planted. Safarli stated that the average yields in these areas are 5.6 metric tonnes per hectare. This is nearly twice as much as the national level. Azerbaijan’s total wheat production fell this year, from 1.69 to 1.58 millions tons. This was largely because of a decrease in the planted area. (Reporting and editing by Gleb Brianski, Kirsten Doovan).
Global robotaxi deployments gain momentum as the driverless future grows.
Uber and Lyft have teamed up with Chinese technology company Baidu in order to test self driving taxis in the UK by 2026. They are the latest ride hailing platforms to team up with self-driving car firms.
Robotaxis is expected to become a safer form of transportation that reduces operational costs through reducing the reliance on drivers, and by optimizing routes using real-time data.
Robotaxi services are being tested in several cities and countries, including robotic food delivery, daily travel and last-mile logistics.
Here are some of the most significant robotaxi trials, tests and operations worldwide:
UBER, LYFT, AND BAIDU Uber partnered with Chinese technology company Baidu to test Apollo Go RT6 self-driving vehicles in the UK next year.
MOMENTA AND GRAB Momenta and Singapore's ride-hailing service Grab partnered in December in a deal which included an investment by Grab.
MOMENTA, LUMO AND MERCEDES-BENZ In December, Mercedes-Benz launched a robotaxi service with UAE taxi operator Lumo and autonomous driving company Momenta. The Mercedes S-Class-based fleet is expected to start operations in 2026 and expand to other markets.
WERIDE AND GRAB Chinese roboticaxi company WeRide, and ride-hailing firm Grab announced that Singapore's Land Transport Authority had approved autonomous vehicle tests for their Ai.R Ai.R in Punggol District in November. The partners plan to quadruple the number of robotaxi tests on shuttle routes in 2025. They began their trials mid-October.
WERIDE AND Uber WeRide and Uber began public rides in Abu Dhabi on Yas Island in November under a permit-backed launch. Uber Comfort, UberX or the new category "Autonomous", Uber's first self-driving option, are available to passengers.
WERIDE IN ZURICH
WeRide has received a driverless roboticaxi permit in November from the Swiss regulator for operation on public roads in Zurich’s Furttal Region. Safety-driver tests are underway, and the company expects to launch a fully driverless service in the first half of 2026.
ZOOX IN SAN FRANCISCO Amazon’s self-driving subsidiary Zoox started offering free rides in certain parts of San Francisco to selected early users, the company announced in November. Zoox invites people on its waiting list to test its point-topoint service in South of Market and the Mission District to improve it before a wider rollout.
BAIDU IN SWITZERLAND Baidu’s Apollo Go launched the AmiGo Robotaxi service in Eastern Switzerland in October, partnering with Swiss Post’s PostBus. Testing will begin in December, with a fleet of pilot vehicles mapping routes with safety drivers. Pilot rides will begin in early 2026 with safety drivers. Later, driverless tests are planned for late 2026. Early 2027 is the target date for full operations.
In October, PONY.AI and THE XIHU Group received Shenzhen’s first citywide permit for driverless robotaxi commercial services. The approval was granted jointly by the city's biggest taxi operator Xihu Group and will allow services to begin in Nanshan Qianhai Baoan, before spreading across the entire city.
WAYMO IN LONDON Waymo's autonomous unit Alphabet announced in October that it would launch a?autonomous ride-hailing service for London in 2026. The company has partnered with mobility fintech firm Moove in order to manage fleet operations and facilities as well as charging infrastructure before the roll-out.
ZOOX IN VEGAS In September 2025, Zoox began its autonomous ride-hailing services on and around Las Vegas Strip. The company offered?ride to the public free of charge while waiting for the state to approve the collection of fares. The vehicles will be able to run independently, and remote assistance is only available when they request it.
WeRide in Guangzhou has launched a fully driverless, 24-hour commercial operation in the Huangpu district of Guangzhou in September 2025.
WERIDE IS IN SINGAPORE WeRide announced in September that it had begun testing its GXR roboticaxis in Singapore's Centre of Excellence for Testing & Research of Autonomous Vehicles. The Centre was opened by Nanyang Technological University in 2017. The company hopes to launch the service on public roads designated by the government before the end of 2025.
PONY.AI IS IN SHANGHAI In August, Pony.ai launched a driverless ride hailing service in Shanghai, in partnership Shanghai Jinjiang Taxi. The launch followed the issuance eight demonstration permits during the World Artificial Intelligence Conference. Currently, the company operates robotaxis at designated areas in Pudong’s Jinqiao & Huamu.
PONY.AI IS BEIJING In July, Pony.ai announced that its robotaxi, the seventh generation from Beijing Automotive Industry Corporation, had begun road tests in Beijing. Multiple vehicles are now operating within Beijing's High-Level Demonstration Area for Autonomous Driving, which covers 225 square kilometers. The company stated that the trials are a step towards large-scale production, and commercial launch.
TESLA IN AUSTIN In June, Tesla launched a paid robotaxi service in Austin, Texas. Model Y SUVs were used in a city-restricted area and required a safety monitor to be onboard. Elon Musk's company tests its vehicles without safety monitoring onboard.
WAYMO IN TOKYO Waymo partnered in April 2025 with Japanese taxi and limousine company Nihon Kotsu to test autonomous cars in Tokyo. Nihon Kotsu's drivers operated the vehicles manually during the initial testing phase, which took place in seven Tokyo wards including Minato, Shibuya, and Minato.
BAIDU AND AUTOGO Baidu’s Apollo Go partnered in March with UAE-based autonomous vehicle company Autogo to test self driving vehicles at Abu Dhabi’s Integrated Transport Centre. The plan is to gradually expand the testing, and eventually launch commercial operations.
In February 2025, Pony.ai will launch paid robotaxi services at Guangzhou Baiyun International Airport as well as Guangzhou 'South Railway Station. The company was approved as the first to operate these routes.
PONY.AI IN HONG KING PONY.ai announced in January that it would be providing robotaxi services in Hong Kong. Initially, the service will serve airport staff at Hong Kong International Airport, before expanding to other areas of the city.
BAIDU HONG KONG Baidu has been granted a permit for its Apollo Go robotaxi to be tested in Hong Kong by November 2024. The approval will allow the company to test 10 autonomous vehicles on North Lantau according to a recent statement from Hong Kong's Transport Department.
WAYMO IN LOS ANGELES Waymo will be fully rolled out across an 80-square mile area, including Santa Monica Boulevard, Hollywood Boulevard and the University of Southern California in Los Angeles, in November 2024.
UBER AND WAYVE Wayve is a British company that specializes in self-driving technology. It was backed by SoftBank, Nvidia and other investors. They partnered with Uber to launch advanced trials of AI in the UK in August 2024, with plans to conduct driverless tests as early as 2026.
WAYMO IN SAN FRANCISCO Waymo launched a commercial fleet of Jaguar I?PACE??SUVs in the city on June 20, 2024. The service is available throughout the San Francisco Peninsula in vehicles with cameras and sensors. According to third-party data, Waymo now has more than doubled Lyft's share of the San Francisco Bay Area ride hailing market.
BAIDU IN SHENZHEN Baidu has obtained a license for the operation of fully driverless ride hailing services in Shenzhen by June 2023. Shenzhen will be the fourth Chinese city to permit such services after Wuhan Chongqing and Beijing. Baidu's robotaxis can now operate without safety operators.
BAIDU IN CHONGQING & WUHAN
Baidu has secured the first permit in China to provide commercially driverless robotaxi service to the public by August 2022. Apollo Go can now operate in Chongqing, Wuhan and Chongqing without safety drivers.
WAYMO IN PHOENIX In October 2020, Waymo will launch its driverless robotaxi in Phoenix. The company started offering rides in minivans without a human on board as part of a gradual rollout.
(source: Reuters)