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05.11.26 - 09:27
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Germany Pledges More Winter Aid To Ukraine As Kremlin Says Europe Has No Seat At Abu Dhabi Talks (ZeroHedge)
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Germany Pledges More Winter Aid To Ukraine As Kremlin Says Europe Has No Seat At Abu Dhabi Talks
German Chancellor Friedrich Merz promised Ukraine more air defense and energy support before winter at a Berlin press conference with President Volodymyr Zelenskyy this week, but announced no new weapons package. Merz said "two things are important before the coming winter: air defense and the energy sector," in the Chancellery's transcript (translated from the German).As Ukraine's largest supporter, Germany bears a responsibility, because the outcome of the war will also shape the security of Europe. "Our support for Ukraine is therefore in the German and European interest," Merz emphasized. The message to Russia is: " It is time to end this war."Zelenskyy named what Kyiv is short of: PAC-2 and PAC-3 missiles for the Patriot system, IRIS-T systems, and a new support package for Ukraine's F-16 fleet. He described a major shortage in air defense.Merz put the weight on partners paying what they ha...
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04.11.26 - 20:33
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UAE Planning Third Oil Pipeline To Bypass Hormuz Chokepoint Mess (ZeroHedge)
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UAE Planning Third Oil Pipeline To Bypass Hormuz Chokepoint Mess
The United Arab Emirates currently operates one crude export pipeline that bypasses the Strait of Hormuz and announced earlier this year that it was building a second. A third pipeline is reportedly being planned to further expand crude capacity and reroute energy flows around Hormuz, reducing exposure to Iranian disruption and weakening Tehran's leverage over the critical maritime chokepoint.Bloomberg reported Wednesday morning that Abu Dhabi's state-owned energy giant, Abu Dhabi National Oil Co., is weighing plans for a third pipeline from the UAE's western coast to Fujairah on its eastern coast that could supply Asian customers and bypass Hormuz."Adnoc has been telling some customers in Asia about the pipeline, other people familiar with the matter said. The plans haven't been finalized and could still change, including the route, a number of the people said," the outlet reported.The new pipeline would build on t...
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03.11.26 - 20:48
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Dubai Benchmark Slips Into Contango For The First Time Since July (ZeroHedge)
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Dubai Benchmark Slips Into Contango For The First Time Since July
The curve of the Dubai benchmark is showing signs that rising oil flows from the Middle East are exceeding demand for the first time since early July, when the three-week U.S.-Iran ceasefire allowed millions of barrels to leave unhindered the Strait of Hormuz.Physical flows have been gradually rising for the past two months as Gulf producers accelerated shuttle-shipping through Hormuz with ship-to-ship (STS) transfers in the Gulf of Oman, once tankers have cleared the chokepoint.As a result, the November contract of the Dubai benchmark traded at the start of this week at a discount of about $2 per barrel to the December contract, traders and brokers told Bloomberg on Tuesday.This price curve, known as contango, is the first sign since July that current supply is abundant in the Middle East.The contango structure, in which prices for contracts dated further out in time are higher than the prompt contracts, suggests that concerns ...
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