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The Biden administration on Tuesday formally accused Russia of violating the New START arms treaty over what it said was Moscow‘s failure to allow inspections of weapons sites or agree to meetings on treaty disputes. President Biden agreed to extend the New START treaty — one of the last major arms control treaties still in force — for five years shortly after taking office in January 2021 — without seeking changes or concessions from the Kremlin related to its strategic forces buildup. Russian President Vladimir Putin’s decision to invade Ukraine barely a year later has put bilateral relations in a...

On the 27th, Vice Minister of the Workers' Party of Korea, Kim Yeo-jeong, announced a strong condemnation of the US support for tanks in Ukraine. In a talk that day, Vice Minister Kim argued, “The United States has made its stand against Russia (Russia) more clear by officially announcing that they will even provide tanks.” “We express serious concern over the actions of the United States, which is escalating the war situation in a cascading fashion by pushing combat equipment for ground attack into Ukraine, and strongly condemn it,” he stressed. Vice Minister Kim said, "I have no doubt that...

SINGAPORE (Reuters) - Oil traded lower on Wednesday ahead of key U.S. stocks data, which was expected to show a rise in heating fuel supplies as mild winter temperatures suppressed demand in the United States. U.S. light crude (CLc1: Quote, Profile, Research) fell 26 cents to $43.65 a barrel. Prices are broadly on par with levels at the end of 2004 following sharp swings in the first two trading days this year. London's Brent crude (LCOc1: Quote, Profile, Research) slipped 31 cents to $40.73 a barrel. The U.S. government Energy Information Administration (EIA) will release its weekly report at 10:30...

SINGAPORE (Reuters) - Oil prices slid on Monday on expectations that more mild U.S. weather at the start of the New Year will limit heating oil demand. U.S. oil prices (CLc1: Quote, Profile, Research) dropped 79 cents to $42.66 a barrel by midday trading in Asia. London's International Petroleum Exchange (IPE) was shut for a holiday and will reopen on Tuesday. The winter has been unusually warm thus far in the U.S. Northeast, the world's biggest heating oil market, and normal to above-normal temperatures are expected to prevail over the next few days, forecasters Meteorlogix said. "Weather has been the...

LONDON (Reuters) - Oil prices fell on Thursday, after rising nearly $2 the previous session as two car bombs in Saudi Arabia rekindled fears over Middle East supply security, one of the factors behind this year's 32 percent rally. In the last trading day of 2004 for U.S. oil (CLc1: Quote, Profile, Research) , prices were down 69 cents at $42.95 a barrel -- more than $10 higher than the beginning of the year, but $12 below the contract's all-time high of $55.67 a barrel on Oct. 25. A 4.5 percent rally on Wednesday was also driven by a draw...

LONDON (Reuters) - Oil prices edged higher for the second day on Wednesday ahead of U.S. government data expected to show a slight decline in winter heating fuel stocks. Lower-than-usual temperatures probably caused distillate fuel stockpiles to fall last week, a Reuters survey found, and they would still be in a double-digit deficit versus last year. U.S. light crude oil futures were up 15 cents at $41.92 a barrel by 5:28 a.m. EST, building on Tuesday's 45 cent rise. London's Brent crude fell by $1.47 a barrel to $38.60, catching with heavy U.S. losses earlier this week when the London...

SINGAPORE (Reuters) - Oil prices edged cautiously higher on Tuesday, attempting to stem a fall of more than 10 percent in the last five sessions amid rising U.S. stockpiles and warmer-than-expected weather. U.S. light crude oil futures were up 39 cents at $41.71 a barrel by 2:53 a.m. EST, taking a breather after Monday's more than 6 percent slump in holiday-thinned trade. London's International Petroleum Exchange (IPE) was shut for a bank holiday on Tuesday. Prices fell nearly $5 a barrel in as many days as an increase in U.S. distillate inventories and revised weather forecasts calling for above-average temperatures...