NEW YORK: Oil prices settled higher on Wednesday after U.S. crude stocks fell to their lowest levels in three years as refining activity recovered from recent storms. Despite recent wobbles from U.S. economic figures, overall demand for fuel has rebounded to pre-pandemic levels. Product supplied over the last four weeks has come in at nearly 21 million barrels per day, not far from 2019's peak. U.S. crude inventories last week fell by 3.5 million barrels to 414 million barrels, the lowest since October 2018, the U.S. Energy Information Administration said on Wednesday. "Crude oil prices remain supported as demand recovers around the world and inventories continue to draw," said Andrew Lipow, president of Lipow Oil Associates in Houston. U.S. West Texas Intermediate (WTI) crude futures rose US$1.74, or 2.5%, to $72.23, while Brent crude futures settled up $1.83, or 2.5%, to $76.19 a barrel. Oil facilities in the Gulf of Mexico continue to return to production, with ... » Learn More about Oil prices up on US stocks draw, rising fuel demand
Artificial intelligence experts are in high demand
Since the arrival of Covid-19 vaccines , a crucial but largely unspoken question has loomed large for countries looking towards returning to pre-pandemic life: How much sickness and death will occur even after nearly everybody has been jabbed? Possible answers to that question are coming into view as a growing number of territories get close to their maximum vaccination rates. Although varying considerably, the emerging picture points to a post-vaccinated future in which societies may have to accept significantly more Covid-19 deaths than those caused by the flu to move beyond restrictions such as lockdowns and border closures. While European countries with high vaccination rates have largely returned to normal life, living with Covid-19 could prove more difficult to accept for Asia-Pacific economies that avoided even flu-level death rates by sealing their borders. “My personal feeling is that, after brainwashing people in many places with this fight against the virus and ... » Learn More about From Singapore to Hong Kong, how many will die even after most are jabbed?
The market was also supported by a return of appetite for risk assets as concerns eased over a potential default by property developer China Evergrande and its possible fallout on the world's second-largest economy. U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.2%, to $72.40 a barrel by 0645 GMT, while Brent crude rose 18 cents, or 0.2%, to $76.37 a barrel. Both contracts jumped 2.5% on Wednesday after data from the U.S. Energy Information Administration showed U.S. crude stocks fell by 3.5 million barrels to 414 million barrels in the week to Sept. 17 - the lowest total since October 2018 - in a bigger drawdown than analysts had expected. "With Gulf of Mexico production returning slowly, and natural gas prices remaining sky high, the structural outlook for oil remains promising as OPEC+ struggles to meet even its current production quotas," said Jeffrey Halley, analyst at brokerage OANDA. Several OPEC+ countries - including Nigeria, Angola and Kazakhstan - have ... » Learn More about Oil prices rise on tight supply, renewed risk appetite
In simple terms, fastbacks are cars that look like sedans, except that the entire rear of the car lifts like a hatchback’s come loading time. Yes, that means the rear windscreen goes up, too, thereby presenting you with a giant aperture ready to swallow your stuff whole. Alligator-style, baby. Yet, because they’re fastbacks, not hatchbacks nor estates, you get a comely sloping posterior, often with a short little boot-like deck for extra seductive points. Cars of this ilk, thus, tend to be of the design-led variety. Mamma Mia! Audi A5 Sportback (from $222,062) The current-generation A5 Sportback is so appealing that it is actually outselling the A4 Sedan, despite being costlier. That proves that drivers are willing to pay a premium for design. This fastback is available two variants – a 148hp front-wheel-drive and a 245hp quattro (all-wheel-drive). Our choice, of course, would be the latter, for its performance hits the sweet spot. If you want something stronger, there ... » Learn More about Fastbacks are bringing sexy back – here are our top picks