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Russia’s Oil Exports Hit by Drone Strikes and Trump’s Tariff Tactics

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Ukrainian drone strikes on Russia’s oil export pipelines and a doubling of US tariffs on goods imported from India appear to be hitting Moscow’s crude flows.

Weekly crude shipments from Russian ports fell by 320,000 barrels a day in the week to Aug. 24, tanker-tracking data compiled by Bloomberg show. Flows dropped to a four-week low of 2.72 million barrels a day, pushed down by reduced loadings at the Baltic port of Ust-Luga. The drop left four-week average crude shipments little changed, with seaborne cargoes averaging 3.06 million barrels a day.



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Indonesia Protests: Prabowo Calls for Firm Action as Unrest Escalates

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Indonesian President Prabowo Subianto ordered the police and military to take firm action against unlawful acts, following days of violent protests over rising living costs and inequality that have left at least three people dead, buildings torched, and officials’ homes looted.

In a televised address on Sunday, Prabowo instructed security forces to crack down on the unrest, which has escalated into some of the worst street protests since he took office 10 months ago.



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German Gas Reserves Reach Key 70% Threshold, Easing Winter Risks

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Germany has filled its gas reserves to a critical storage level two months ahead of schedule, easing fears about winter heating shortages that only recently fueled talk of potential government intervention.

As of Friday, Germany’s gas storage sites were 70% full — a threshold the government aimed to reach by Nov. 1. Earlier this year, slow injections rattled Europe’s gas market as traders saw little incentive to stockpile. But falling summer gas prices have since spurred a rapid build-up.



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China Factory Activity Slump Continues Despite US Tariff Relief

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China’s factory activity remained stuck in contraction in August, as a government crackdown on price wars holds back production offset the boost for manufacturers of the US’ extended trade truce.



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