Tag Archives: Later Wednesday

Oil prices rise as US housing improves

The price of oil rose Tuesday as energy markets set aside worries about a financial crisis in Cyprus after the release of strong U.S. housing data.

Benchmark oil for April delivery was up 20 cents to $92.36 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.58 to finish at $92.16 on Tuesday.

Brent crude, used to price many kinds of oil imported by U.S. refineries, rose 52 cents to $107.97 per barrel on the ICE Futures exchange in London.

Later Wednesday, the Energy Department is expected to report an increase of 2 million barrels in U.S. crude oil supplies, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. U.S. oil production, at more than 7 million barrels a day, is at the highest level in 20 years.

Oil prices fell Tuesday after lawmakers in Cyprus rejected a plan to tax bank accounts to stabilize the country’s banks and clear the way for an international bailout.

But data pointing toward a steadily improving U.S. housing market provided further proof that an economic recovery is was taking hold in the world’s biggest economy. The Commerce Department said U.S. builders started more houses and apartments in February and received building permits for future construction at the fastest pace in 4 ½ years.

In other energy futures trading on the Nymex:

— Wholesale gasoline rose 0.5 cent to $3.045 a gallon.

— Heating oil was steady at $2.969 a gallon.

— Natural gas fell 2.5 cents to $3.944 per 1,000 cubic feet.

…read more
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Curfew in Indian Kashmir after militant attack

A curfew has been imposed in most of Indian-controlled Kashmir after a militant attack left five paramilitary troops dead and a civilian was killed by government troops.

Thousands of armed government troops patrolled the streets of the curfew-bound towns Thursday.

On Wednesday, two militants fired on a group of paramilitary soldiers in Srinagar, the region’s main city, killing five troops. Soldiers shot dead both militants.

Later Wednesday, paramilitary soldiers fatally shot a civilian who they said was part of a group of protesters throwing stones at vehicles taking the injured to a hospital. Locals said the man was not a protester.

No one has claimed responsibility for Wednesday’s attack, though suspicion immediately fell on Muslim separatists. India‘s government said the militants appeared to be from Pakistan, a charge Pakistan denied.

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Serbia withdraws suspected toxic milk

Serbian officials ordered some brands of milk taken off store shelves on Wednesday despite earlier claims that they were safe and not dangerously contaminated with a potentially cancer-causing toxin.

The order came after widespread public outrage over allegations that health authorities have for weeks been hiding the results of lab tests which reportedly show that much of the milk sold in Serbia contains high levels of aflatoxins, a fungus linked to mildewed cattle feed that can cause cancer if consumed in high doses.

Authorities initially refused to reveal the brands that have been ordered out of shops, saying they were waiting for results of tests being conducted in the Netherlands.

“That’s really outrageous,” said Jelena Matic, 45-year-old anthropology researcher from Belgrade. “How are we supposed to know which milk we can buy?”

Later Wednesday, head of the veterinary inspection Sanja Celabicanin said authorities have ordered the withdrawal of 50 types of milk, from almost all diaries in Serbia.

There were no immediate shortages of milk in the shops, but some people are saying they will do without for a while.

Suspicions of the government cover-up are fed by the region’s widespread corruption and the cozy ties between politicians and industry.

An extremely dry summer last year provided conditions for the poisonous mold to grow, mostly in corn that is used as animal feed.

Very high doses are linked to cancer, especially of the liver, but experts say a person would have to drink a gallon a day for years to see any health effects.

Health Minister Slavica Djukic Dejanovic said there is no reason for panic and advised citizens to decide themselves whether they will drink the milk or not.

“I drink milk, obviously the citizens must decide on their own whether they will drink it or not,” she said.

Goran Jesic, an agriculture official who broke the silence and published the results of the aflatoxin tests on Tuesday, demanded on Wednesday that the government also withdraw the cattle feed and instruct the farmers how to neutralize the presence of aflatoxins.

Agriculture Minister Goran …read more
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US wants more from Egypt on anti-Israel rhetoric

The Obama administration said Thursday that a statement issued by the Egyptian presidency is welcome but not enough to ease concerns about anti-Jewish and anti-Israel comments that the Islamist president made before he took office.

The statement by President Mohammed Morsi‘s office rejects discrimination and incitement to violence based on religion. The State Department called it “an important first step” but said the U.S. continues to look for Morsi and other Egyptian leaders to demonstrate a commitment to religious tolerance and Egypt‘s peace treaty with Israel.

The U.S. has said Morsi’s 2010 remarks — in which he urged hatred of Jews and called Zionists “pigs” and “bloodsuckers” while he was a leader of Egypt‘s Muslim Brotherhood — are “deeply offensive” and need to be repudiated.

State Department spokeswoman Victoria Nuland would not say if Washington is demanding that Morsi personally repudiate the remarks, but she made clear the U.S. needs to see more than the statement from his office to be convinced he no longer holds to the earlier views.

“From our perspective, that statement was an important first step to make clear that the type of offensive rhetoric that we saw in 2010 is not acceptable, not productive and shouldn’t be part of a democratic Egypt,” she told reporters. “That said, we look to President Morsi and Egyptian leaders to demonstrate in both word and in deed their commitment to religious tolerance and to upholding all of Egypt‘s international obligations.”

On Wednesday, Morsi, Egypt‘s Islamist president, sought Wednesday to defuse Washington’s anger over his past remarks, telling a group of visiting U.S. senators that his comments were taken out of context and were a denunciation of Israeli policies and not Israel itself or the Jewish people, according to a spokesman. The spokesman said Morsi told the lawmakers that a distinction must be made between the two.

Later Wednesday, after the State Department declined to comment on the spokesman’s explanation, Morsi’s office went further by releasing an English-language statement that said “the president strongly believes that we must respect and indeed celebrate our common humanity and does not accept or condone derogatory statements regarding any religious or ethnic group.”

Nuland said Thursday that her comments applied to that statement and not the spokesman’s remarks.

The flap is a new twist in Morsi’s attempts to reconcile his background as a veteran of the Muslim Brotherhood — a vehemently anti-Israeli and anti-U.S. group — and the requirements of his role as head of state, which include keeping the strategic relationship with Washington, which wants Egypt to continue to honor its 1979 peace deal with Israel.

Morsi’s criticized remarks came from a mix of speeches he made in 2010 when he was a leading Brotherhood figure. The remarks were revived when an Egyptian TV show aired them last week to highlight and mock Morsi’s current policies.

In the video, Morsi refers to “Zionists” as “bloodsuckers who attack Palestinians” as well as “the descendants of apes and pigs.” He says Egyptians should nurse their children on “hatred for them: for Zionists, for Jews. They must be breast-fed hatred.” He also calls President Barack Obama a liar.

Morsi has promised to abide by Egypt‘s 1979 peace treaty with Israel and has continued security cooperation with Israel over the volatile Sinai Peninsula and their border. In November, Morsi brokered a truce between the Jewish state and Gaza’s Hamas rulers in November, a feat that won him warm praise from the Americans.

Source: FULL ARTICLE at Fox US News