Tremors Felt In Indonesia Capital After Earthquake In West Java - Doo Prime News
Doo Prime News > Industry Dynamics > Tremors Felt In Indonesia Capital After Earthquake In West Java

JAKARTA, Nov 21 (Reuters) – A magnitude 5.6 earthquake rattled the Indonesian capital Jakarta for several seconds on Monday, the weather and geophysics agency (BMKG) said.

The epicentre was on land in Cianjur in West Java, about 75 km southeast of Jakarta, and at a depth of 10 km (6.2 miles), BMKG said, adding there was no potential for a tsunami.

Some people evacuated offices in the central business district of Jakarta, while others reported feeling buildings shake and seeing furniture move, Reuters witnesses said.

Full coverage: REUTERS

Europe Rushes To Fill Up On Russian Diesel Before Ban Begins

LONDON, Nov 21 (Reuters) – European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited.

The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by Feb. 5. That will follow a ban on Russian crude taking effect in December.

Russian diesel loadings destined for the Amsterdam-Rotterdam-Antwerp (ARA) storage region rose to 215,000 bpd from Nov. 1 to Nov. 12, up by 126% from October, Pamela Munger, senior market analyst at energy analytics firm Vortexa, said.

Full coverage: REUTERS

Buffett’s Berkshire Boosts Stakes In Japan’s Five Biggest Trading Houses

TOKYO, Nov 21 (Reuters) – Berkshire Hathaway Inc (BRKa.N), run by billionaire Warren Buffett, has raised its stakes in each of Japan’s five biggest trading houses by at least 1 percentage point to more than 6%, regulatory filings showed on Monday, sending shares higher.

The move is line with Berkshire’s statement in 2020 that its investments in the Japanese trading houses were for the long term and the stakes could rise to 9.9%.

Full coverage: REUTERS

Oil Prices Ease To Trade Near 2-Month Lows On China Demand Fears, Dollar Strength

SINGAPORE, Nov 21 (Reuters) – Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices.

Brent crude futures for January had slipped 74 cents, or 0.8%, to $86.88 a barrel by 0715 GMT.

U.S. West Texas Intermediate (WTI) crude futures for December were at $79.40 a barrel, down 68 cents or 0.9%, ahead of the contract’s expiry later on Monday. The more active January contract last fell 59 cents or 0.7% to $79.52 a barrel.

Full coverage: REUTERS

Morning Bid: Bulls Take Cover

A look at the day ahead in European and global markets from Anshuman Daga:

Enthusiasm over recent moves by Chinese authorities to adjust the country’s zero-COVID policy is giving way to renewed caution as COVID cases ticked up in Beijing, stoking a risk-off mood in stocks and currencies, while oil prices hit two-month lows.

We have seen this story before of markets getting ahead of themselves, but the latest China worries are resurfacing just as global investors dial back hopes of an imminent Fed pivot on interest rates.

Full coverage: REUTERS

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