Urals crude oil prices hit a low of $36.6 per barrel last week, the lowest since early 2023, due to the impact of U.S. sanctions on Russian energy giants. The price drop caused discounts relative to Brent to widen significantly, approaching record levels. This decline is largely due to major buyers in India and China halting purchases from sanctioned companies like Rosneft and Lukoil. Consequently, Russia’s seaborne exports have dropped, and an increasing number of oil cargoes are being stored on tankers.
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During a Senate confirmation hearing, President Trump’s nominee for Ambassador to South Africa, Brent Bozell, repeatedly refused to state his personal views on whether he supported or opposed policies that would prevent Black Americans from voting. Senator Chris Murphy pressed Bozell on his stance regarding discriminatory refugee policies as well as re-implementing racially biased voting laws. Bozell insisted his personal views were irrelevant, intending to focus on his role as ambassador and following the President’s directives. Murphy criticized Bozell’s lack of transparency, emphasizing that his views were crucial for assessing his qualifications for the position.
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John Q. Hosedrinker