Columbia, a perennial football loser, wins Ivy League title for first time since 1961Asia’s middle distillates markets remained thinly discussed, with traders awaiting January spot activity to be in full bloom the next few trading sessions. Traders held mixed views on the diesel/gasoil demand-supply balance in the next two months, with most expecting it to hinge on the weather situation in the west – though the east-west arbitrage price spread was at its narrowest in slightly more than three months. On the jet fuel/kerosene front, traders were slightly more positive given production issues at Japan-based refineries ahead of some scheduled maintenance – though spot buying remains slightly subdued. Spot January cargoes for jet fuel were still being discussed at premiums, as expectations of heating and travelling demand stayed bullish. Term cargoes for 2025 loading, from northeast Asian refiners, were being negotiated at premiums of around $1 a barrel as well, one trader said. Volumes to the U.S. market are likely to come under the market scrutiny as well, given that demand should pick up from that region, a second trader said. Refining margins GO10SGCKMc1 for 10ppm sulphur gasoil slipped for a third straight session this week, closing at nearly $14 a barrel, reflecting the weakness. Cash differentials GO10-SIN-DIF were little changed despite a higher-priced deal, given the wide buy-sell gap in the open trading window. Regrade JETREG10SGMc1 was flat and remained at premiums of slightly around 30 cents a barrel. – One gasoil deal, no jet fuel deal – U.S. crude stocks fell by more than expected last week as refiners ramped up operations, offsetting a rise in crude imports, the Energy Information Administration (EIA) said on Wednesday. – Singapore’s middle distillates stockpiles eased for the first time in six weeks even though the country turned net importer of jet fuel for the second time in two months, as net exports of diesel/gasoil rose, official data showed on Thursday. – Shell SHEL.L completed a two-month long maintenance shutdown at its 400,000 barrel per day Pernis oil refinery in Rotterdam in the Netherlands on Wednesday and is currently restarting units at the plant, the company said on X. – A single bank sold a large volume of U.S. oil futures contracts in early afternoon trading on Wednesday, a person with direct knowledge of the matter said, pushing prices down more than 1% within minutes and causing traders to scramble to decipher the reason. – OPEC+ is likely to extend its latest round of oil production cuts by at least three months from January when it meets online at 1100 GMT on Thursday, OPEC+ sources told Reuters, to provide additional support for the oil market. – Igor Sechin, the head of Russia’s largest oil producer Rosneft ROSN.MM, said on Thursday that the OPEC+ group’s decisions to reduce oil output in 2016 and 2020 helped the U.S. shale industry and made it a leading global energy exporter. – Russia’s seaborne diesel and gasoil exports rose in November on increased fuel production following a reduction in seasonal and unplanned refinery maintenance, LSEG and market sources data show. Source: Reuters (Reporting by Trixie Yap; Editing by Janane Venkatraman)
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The 26-year-old man charged in the killing of UnitedHealthcare’s CEO appeared in a Pennsylvania courtroom on Tuesday, where he was denied bail and his lawyer said he’d fight extradition to New York City, where the attack happened. Luigi Nicholas Mangione was arrested Monday in the Dec. 4 attack on Brian Thompson after they say a worker at a McDonald’s in Altoona, Pennsylvania, alerted authorities to a customer who resembled the suspected gunman. When arrested, Mangione had on him a gun that investigators believe was used in the attack and writings expressing anger at corporate America, police said. As Mangione arrived at the courthouse Tuesday, he struggled with officers and shouted something that was partly unintelligible but referred to an “insult to the intelligence of the American people.” Mangione is being held on Pennsylvania charges of possession of an unlicensed firearm, forgery and providing false identification to police. Manhattan prosecutors have charged him with five counts, including murder, criminal possession of a weapon and criminal possession of a forged instrument. Here are some of the latest developments: Wearing an orange jumpsuit, Mangione mostly stared straight ahead during the hearing, occasionally consulting papers, rocking in his chair, or looking back at the gallery. At one point, he began to speak to respond to the court discussion but was quieted by his lawyer. Judge David Consiglio denied bail to Mangione, whose attorney, Thomas Dickey, told the court that his client did not agree to extradition and wants a hearing on the matter. Blair County (Pennsylvania) District Attorney Peter Weeks said that although Mangione’s fighting extradition will create “extra hoops” for law enforcement to jump through, it won’t be a substantial barrier to sending him to New York. In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” NYPD Chief of Detectives Joseph Kenny said Monday that Mangione also had a ghost gun, a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said. Officers also found a sound suppressor, or silencer, “consistent with the weapon used in the murder,” she said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, the commissioner said. Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. Mangione likely was motivated by his anger with what he called “parasitic” health insurance companies and a disdain for corporate greed, said a law enforcement bulletin obtained by The Associated Press. He wrote that the U.S. has the most expensive health care system in the world and that the profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin, which was based on a review of the suspect’s hand-written notes and social media postings. The defendant appeared to view the targeted killing of the UnitedHealthcare CEO as a symbolic takedown and may have been inspired by “Unabomber” Ted Kaczynski, whom he called a “political revolutionary,” the document said. Police said the person who killed Thompson left a hostel on Manhattan’s Upper West Side at 5:41 a.m. on Dec. 4. Eleven minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park, according to police. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack, police said. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at about 7:30 a.m. From there, the trail of video evidence ran cold. Police did not see video of the suspect exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Get local news delivered to your inbox!
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