Political, security cooperation on BRICS agenda in 2017: China

Singapore, May 6: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 per cent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 per cent and rose above $30 for the first time since mid-April.

US marker West Texas Intermediate slipped 1.9 per cent and was changing hands for $24.13 a barrel.

Oil markets have been battered as the virus strangled demand due to business closures and travel restrictions, with US crude falling into negative territory last month for the first time.

They started rallying strongly this week as countries from Europe to Asia ease curbs and economies start shuddering back to life.

But gains were capped Wednesday as dealers follow a brewing US-China row after Donald Trump hit out at Beijing over its handling of the outbreak, saying it began in a Wuhan lab, but so far offering no evidence.

"Traders are incredibly cautious this morning, weighing all the possible China responses," said Stephen Innes, chief global market strategist at AxiCorp.

"And the one that would hurt the most would be for China to reduce imports of US oil."

This week's rally was in part driven by a deal agreed between top producers to reduce output by almost 10 million barrels a day, which came into effect on May 1.

There have also been signs that the massive oversupply in the market is starting to ease as demand slowly comes back.

Energy data provider Genscape said earlier this week that stockpiles at the main US oil depot in Cushing, Oklahoma had increased by only 1.8 million barrels last week following weeks of major rises.

Hubei, Mar 25: As a bus departed from its terminus at Hankou Railway Station at 5:25 am Wednesday morning, Wuhan started to resume bus service after nine weeks of lockdown.

Apart from a driver, a safety supervisor was also on each bus, whose duty was to make sure all passengers are healthy.
"For those who do not use smartphones, they should bring with them a health certificate issued by the health authorities," said Zhou Jingjing, a safety supervisor aboard bus No. 511 departing from the Wuchang Railway Station complex.
The once hardest-hit city in central China's Hubei Province during the COVID-19 outbreak took unprecedented traffic restrictions on Jan 23. All of its public transport and all outbound flights and trains had been suspended in an attempt to contain the virus within the region.

Washington, Feb 22: US President Donald Trump will raise the issue of religious freedom with Prime Minister Narendra Modi during his visit to India next week, the White House said on Friday, noting that the US has great respect for India's democratic traditions and institutions.

"President Trump will talk about our shared tradition of democracy and religious freedom both in his public remarks and then certainly in private. He will raise these issues, particularly the religious freedom issue, which is extremely important to this administration," a senior official told reporters in a conference call.

The official was responding to a question on whether the president was planning to speak to Modi on the Citizenship (Amendment) Act or the National Register of Citizens.

"We do have this shared commitment to upholding our universal values, the rule of law. We have great respect for India's democratic traditions and institutions, and we will continue to encourage India to uphold those traditions," the official said, requesting anonymity.

"And we are concerned with some of the issues that you have raised," the senior administration official said, in response to the question on CAA and NRC.

"I think the President will talk about these issues in his meetings with Prime Minister Modi and note that the world is looking to India to continue to uphold its democratic traditions, respect for religious minorities," the official said.

"Of course, it's in the Indian constitution -- religious freedom, respect for religious minorities, and equal treatment of all religions. So this is something that is important to the president and I'm sure it will come up," said the official.

Pointing out that India has a strong democratic foundation, the official said India is a country rich in religious, linguistic, and cultural diversity.

"In fact, it's the birthplace of four major world religions," the official noted.