Latest news with #supply
News.com.au
a day ago
- Business
- News.com.au
Fire breaks out at Smiths Snackfood Co Limited warehouse in Adelaide
Australians have avoided some of their favourite snacks going into short supply after a fire broke out at the Smiths Snackfood Co Limited warehouse in Adelaide. Seven fire trucks were dispatched to the fire at the warehouse in Regency Park late on Monday night. Four firefighters donning respirators and wielding high-pressure hose lines were able to contain the blaze. The warehouse is responsible for the manufacturing of several iconic Aussie and American snackfoods including Smith's chips, Doritos, Twisties, Red Rock Deli chips, Burger Rings and Nobby's pub food snacks. A spokesperson from Pepsico said the small fire was 'quickly contained'. 'All team members are safe and the site is now operational,' they said. 'We thank local emergency services for their fast and effective response. 'Supply will not be impacted.'
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Oil Edges Higher, Aided by Renewed Supply Concerns
0005 GMT — Oil edges higher in early Asian trade, aided by renewed supply concerns. President Trump said that he would give Russian President Putin 10 or 12 days to reach a cease-fire with Ukraine or face more economic pressure from the U.S. Previously, Trump had threatened Moscow with 100% secondary tariffs to create pressure toward a peace deal, ANZ Research analysts say in a research report. Trump's remarks have reignited fears that Russia's oil flows would be impacted, the analysts add. Front-month WTI crude oil futures are 0.2% higher at $66.85/bbl; front-month Brent crude oil futures are 0.2% higher at $70.21/bbl. (
Argaam
2 days ago
- Business
- Argaam
OPEC+ panel reiterates call for adherence to production quotas
The OPEC+ Joint Ministerial Monitoring Committee (JMMC) reiterated its call for member states to adhere to agreed production quotas in preparation for considering a further increase in supply. In a statement released Monday, the committee emphasized the importance of meeting output targets and requested that noncompliant nations provide the OPEC Secretariat with updated compensation plans by August 18. During its 61st meeting, which took place via videoconference, the JMMC reviewed the crude oil production data for the months of May and June 2025 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC), also known as OPEC+. The committee's meeting comes ahead of a separate meeting of eight members of the alliance next Sunday to decide on a potential increase in oil production in September.
Yahoo
3 days ago
- Business
- Yahoo
Oil Prices Caught Between a $70 Summer and Growing Surplus Fears
(Bloomberg) -- Oil traders are grappling with a tension — there's a growing chorus of warnings about the market weakening later this year and into 2026, but for now prices are holding strong near $70 a barrel. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy France's TotalEnergies SE last week warned the market is facing abundant supply as the OPEC+ group unwinds output curbs, even as slowing global growth weighs on demand. Norway's Equinor ASA said its new Johan Castberg field is operating at full pelt, with a Brazilian offshore asset starting soon, a reminder of additional barrels expected from outside the producer group. Both the International Energy Agency and the US Energy Information Administration earlier this month bolstered their estimates for the surplus they see next year. The two widely-followed forecasters expect supply to eclipse demand by the most since the pandemic, with the IEA's projection at 2 million barrels a day. A surplus that pushes prices lower will help tame inflation, hurt high-cost producers and likely please US President Donald Trump who has called for lower prices since taking office. It's a stark contrast with the here and now, where inventories at key storage hubs remain low, reflected in a bullish market structure that indicates tight supplies. Profits from turning crude into fuels are also far above seasonal norms, underpinning demand for crude. 'One of the issues that has been supporting oil has been the seasonal strength of the summer months,' Francisco Blanch, head of commodities and derivatives research at Bank of America Corp. said in a Bloomberg TV interview. 'Second half of the year the surplus is going to be close to 200 million barrels,' which will ultimately weigh on prices, he added. While most of the IEA's revision of next year's outlook centered on output additions by the Organization of the Petroleum Exporting Countries and its allies, who will meet to discuss output levels in early August, there were also some less obvious drivers. Forecasts for the supply of biofuels, which compete with conventional oil, are about 200,000 barrels a day higher than two months ago in the agency's estimates. The US government now sees global oil supplies about 2.1 million barrels a day higher in the fourth quarter of this year than the first, the biggest increase it has seen over the period since February. The two bodies' forecasts constitute an important element in traders' evaluations of how the market will unfold. For now, signs of robust demand remain. Leading oil trader Vitol Group said last week that jet fuel demand has been steadily climbing, with flight numbers reaching all-time highs. US weekly oil-demand figures are the highest this year. That data has been revised higher in final monthly readings for four of the last five periods where complete figures are available. And while the global trade war offers reason to be concerned about consumption, historically demand estimates have tended to be revised higher too, suggesting that the currently-expected surplus could narrow. From 2012 to 2024, the IEA's demand forecasts have ended up being on average close to 500,000 barrels a day higher than when the estimate was first issued, as more data became available. That excludes 2020, when the global pandemic transformed consumption patterns. Still, once the summer's strength wanes, a global surplus is likely to emerge, according to Natasha Kaneva, JPMorgan Chase & Co.'s head of global commodities strategy. 'Supply is increasing,' Kaneva said in a Bloomberg TV interview. 'At some point this inventory build will start showing up in visible inventories in OECD countries like the United States. At the moment it's not priced in.' --With assistance from Julian Lee, Grant Smith, Kari Lundgren, Lisa Abramowicz, Scarlet Fu and Romaine Bostick. Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P.
The Review Geek
4 days ago
- Entertainment
- The Review Geek
Trigger – K-Drama Episode 9 Recap & Review
Hyun-sik Episode 9 of Trigger starts where we left off with Hyun-sik confronting the scammers. One of them manages to escape from the karaoke room with a gunshot to the leg, and Hyun-sik follows him. He leads Hyun-sik outside, where Reporter Wang is ready to shoot a live video of the confrontation. The police arrive, and Lee Do asks them not to shoot but to give him time to convince Hyun-sik. Hyun-sik is overcome with grief and thinks back to when he stopped Lee Do from killing the man responsible for killing his family. Lee Do reminds Hyun-sik of what he told him. He begged Lee Do not to shoot and to think about his future. Similarly, Lee Do convinces Hyun-sik that he still needs him and manages to calm him down. Moon-baek watches everything from his car. When Hyun-sik fails to shoot, Moon-baek does not get the outcome he wants. Therefore, Moon-baek storms the scene with his men, shooting the police officers, Hyun-sik, and Lee Do. He then calls down Reporter Wang and speaks directly to the citizens. Moon-baek promises to give guns in the country, whether to locals or foreigners, for free and without strings attached. After the incident, Lee Do is rushed to the hospital in a critical condition. Moon-baek starts a countrywide supply of guns. Everyone, including influencers, started sharing videos of unboxing guns and testing them. A woman storms a courtroom where a suspect is about to be sentenced to three years for something he did that affected the woman. The woman objects to the ruling, pulls a gun and shoots the suspect. On the subway, passengers are no longer afraid when a seller pulls out a gun, but they are all eager to purchase one. In another household, a father arrives home for his daughter's birthday and sees her playing with a gun. As a result, the president decides to declare a state of emergency. The citizens start holding rallies on gun legalisation, with one group in support and the other strictly opposed. The country plunges into chaos, all the shipments of Moon-baek's guns are delivered successfully, and he tells his men to prepare for the next step in his master plan. The nurse, being bullied by colleagues, still works diligently to take care of the patients. One of her bullies hands her a paper stuck with forms. She has to get all the forms done by the end of the night since they need them for the evaluation next week. The nurse has to work tonight, which she has to tell her bully. However, the bully insists that the forms given are easy and can be finished quickly. If the nurse cannot finish them, it just shows that she is too stupid. The nurse agrees to handle the forms. Back in her locker room, the nurse takes out a package with a gun inside. Elsewhere, Moon-baek gathers the gang leaders for a meeting. He hands them a gun and says that whoever takes it and shoots him will become his partner. One of them picks up the gun and shoots. Moon-baek's men kill all the other gang leaders, leaving only the one with the gun alive. Moon-baek gives the man a phone and tells him to make sure that he picks up his calls. At the hospital, Lee Do regains consciousness. He immediately starts looking for Hyun-sik, only to learn that Hyun-sik is dead. At the end of Trigger Episode 9, he attends Hyun-sik and his daughter's funeral. The Episode Review Trigger Episode 9 tugged at our hearts and made Lee Do experience loss all over again. Lee Do lost his family to gun violence when he was a child, but the experience gave him a secondary family. In this penultimate episode, he now loses his second family in the same way, amplifying his anger and resentment. By the end of the episode, Moon-baek has the upper hand while Lee Do yearns for revenge. The country is in chaos, and Lee Do's moral ground will be shaken in the final episode. Will he prioritise getting justice for his family or retrieving the guns from the people? What is Moon-baek's final plan? Previous Episode Next Episode Expect A Full Season Write-Up When This Season Concludes!
