FOWPAL promotes a culture of conscience at the 25th Eurasian Economic Summit

The Bell of World Peace and Love Rings in Turkey: Seven International Leaders Pray for World Peace

Exchange Among Influential Leaders

Dr. Akkan Suver, president of the Marmara Group Foundation, left, Dr. Hong, Tao-Tze, president of FOWPAL, center, and Abdullah Gul, president of Turkey (2007-2014), exchanged their ideas during the 25th Eurasian Economic Summit in Istanbul, Turkey on June 9, 2022. Dr. Hong shared a book entitled The History of International Day of Conscience, documenting major events leading up to the United Nations’ designation of April 5 as the International Day of Conscience.

ISTANBUL, Turkey, June 10, 2022 (GLOBE NEWSWIRE) — The pain and suffering brought forth by the war between Russia and Ukraine that broke out a few months ago has allowed the people of the world to deepen their understanding about the importance of peace. The Federation of World Peace and Love (FOWPAL) was invited by Dr. Akkan Suver, president of the Marmara Group Foundation, to participate in the 25th Eurasian Economic Summit in Istanbul, Turkey on June 7-9.

Dr. Akkan Suver, who initiated the Eurasian Economic Summit, warmly welcomed all participants to the event, one of the world’s most important summits, which is held annually and brings together decision makers and experts in the fields of economics, politics, religion, energy, sociology, and security. Through dialogue, the Summit fosters active collaboration among leaders in various fields for sustainable development.

This year’s summit, under the theme of “Build Back Better,” focused on the post-pandemic era and the major impact of the conflict between Russia and Ukraine on the world, while addressing issues, such as new energy economy, global partnership, digitalization, a greener planet, dialogue among cities, food and commodity crisis, hunger, poverty, climate change, involuntary migration, and others. It was attended by hundreds of distinguished guests from over 40 countries, including heads of state and government, ambassadors, ministers, mayors, and leaders from all walks of life.

Dr. Hong, Tao-Tze, president of FOWPAL, delivered a speech, emphasizing, “We firmly believe that a culture of peace and a culture of conscience are the foundation that sustains all cultures of the world, and they are also the core of sustainable economic development. A good culture nurtures a good education while a quality education leads to a healthy economy. Through the promotion of a culture of conscience and conscience-driven education, and by integrating the strengths of other cultures and education systems, we will be able to foster national economic growth and usher in stability and prosperity.” He pointed out, “To resolve conflicts with love and conscience is the embodiment of great wisdom.”

FOWPAL has been promoting the International Day of Conscience and the importance of conscience in the past few years and has received warm responses during the Summit. FOWPAL was invited to deliver five sessions of cultural performances, including martial arts, dance, music, and singing. The fabulous performances and profound cultural meanings touched people’s hearts and electrified the audience. In the opening session of the summit, FOWPAL amazed the attendees with an elegant “Peacock Dance,” which symbolized love, peace, and warmth, brought blessings to the Summit, and conveyed FOWPAL’s best wishes for the end of the war and pandemic.

Young volunteers for FOWPAL also performed a number of inspiring songs, such as “We Can Change the World,” “A Prayer for Peace,” and “We Are One World,” conveying their voices and their vision of a united world where people treat one another as family, which was in line with the spirit of the Summit. Through these performances, FOWPAL encouraged people to work together and take action to create a peaceful and sustainable world. FOWPAL’s performances not only gave people a sense of joy and positive energy, but also spread the culture of conscience, which resonated with the audience.

Another highlight of the summit was the ceremonies of ringing the Bell of World Peace and Love. The Bell of World Peace and Love, which weighs 240 kg and has consolidated the wishes for peace of over 400 leaders, rang in Turkey for the first time. On the closing day of the conference on June 9, the organizer invited FOWPAL to specially host the solemn ceremony of ringing the “Bell of World Peace and Love.” Seven influential leaders rang the Bell, including President Emil Constantinescu of Romania (1996-2000), President Filip Vujanović of Montenegro (2003-2018), President Moncef Marzouki of Tunisia (2011-2014), President Petru Lucinschi of Moldova (1997-2001), President Fatmir Sejdiu of Kosovo (2006-2010), Dr. Akkan Suver, and Djabir Doko, Deputy Minister of Political System and Inter-Community Relations of North Macedonia. President of Croatia Stjepan Mesic (2000-2010), who rang the Bell in 2016 in India, also attended the summit.

Dr. Akkan Suver rang the Bell and stated, “For peace! For peace! For peace!” He said in the name of peace, stability, love, and world peace, the bell ringing ceremony was conducted. This was the first time that Dr. Suver participated in such a ceremony. He emphasized that it is important for everyone to work together and have dialogue to promote stability and conscience. “We need a dialogue, and if we have a dialogue, we can find any solution to any problem.” He congratulated the FOWPAL delegation and expressed his gratitude to FOWPAL for organizing the bell ringing ceremony.

Filip Vujanovic, president of Montenegro (2003-2018), rang the Bell of World Peace and Love and wished for peace, unity, and love. Emil Constantinescu, president of Romania (1996-2000) wished for peace and understanding.

Moncef Marzouki, president of Tunisia (2011-2014), when interviewed by FOWPAL during the summit, stated, “We need peace. What’s happening between Ukraine and Russia is danger not only for this region, but the whole world because it could lead to the Third World War, so we badly need initiatives like yours. And I do support what you’re doing because once again, peace is the most important thing for everybody. We cannot talk about human rights unless we have peace.” “What you are doing is extremely important. I would like to congratulate you. Please go ahead. We need every initiative, everybody supporting peace.”

Dr. Hong, Tao-Tze, president of FOWPAL, presented to bell ringers special gifts created by FOWPAL, including the Compass Clock of Conscience, An Anthology of Conscience by Dr. Hong, the “Key to the Heart,” and a book entitled The History of International Day of Conscience. The clock represents time, direction, and goal, guides people toward the right path of life, and reminds them to seize every moment to apply conscience and do good deeds. The anthology is a collection of the excerpts on conscience from Dr. Hong’s speeches presented on various occasions around the globe, which serves as a wellspring of wisdom for the recipients in the promotion of a culture of conscience. The key symbolizes that conscience is the key to unlocking a brighter future for the world. The book entitled The History of International Day of Conscience documents major events leading up to the United Nations’ designation of April 5 as the International Day of Conscience.

Dr. Werner Fasslabend, who is former defense minister of Austria and rang the Bell in 2018, stated that conscience is “a personal regulator, a personal principle that makes you go the right way. And if everybody does it, it will lead into a world of love and peace. Only when there is love in the world, when people try to understand each other, when we try to cooperate, not be against the other side, but to do something in common, then you can reach peace and stability. This is also the basis for freedom.”

The top of the Bell of World Peace and Love is engraved with “Love of the World, A Declaration of Peace.” FOWPAL hopes that people can return to a peaceful world in which there is no pain, no fear, no war, and no suffering. To date, 417 important leaders from 128 countries have rung the Bell, including 49 heads of state and government, seven Nobel Peace Prize laureates, United Nations ambassadors, and leaders from all walks of life. FOWPAL just finished its trip to Stockholm, where it hosted ceremonies of ringing the Bell of World Peace and Love on June 1-3, 2022, during Stockholm+50, and eleven leaders, including environment ministers, UNEP officers, and environmental activists, rang the Bell to pray for the sustainable development of all humanity.

FOWPAL has been actively involved in environmental protection. It participated in the World Summit on Sustainable Development (WSSD) in Johannesburg, South Africa in 2002 and hosted ceremonies of ringing the Bell of World Peace and Love, where six visionary leaders, including the then President of Ethiopia Girma Wolde-Giorgis, rang the Bell.

The 2012 United Nations Conference on Sustainable Development (Rio+20) was held in Rio, Brazil to discuss the challenges and opportunities of sustainable development. During the conference, FOWPAL hosted the ceremony of ringing the Bell of World Peace and Love, and 25 visionary leaders rang the Bell, including the then President of Costa Rica Laura Chinchilla Miranda; President of East Timor and 1996 Nobel Peace Prize laureate José Ramos-Horta; the then Prime Minister of Bhutan Jigme Thinley; Pedro Passos Coelho, the then Prime Minister of Portuguese Republic; and Angel Gurria, the then Secretary General of Organization for Economic Co-operation and Development (OECD), consolidating more positive energy and hope for a sustainable future of love and peace on Earth.

FOWPAL urges everyone to take action to support love, peace, conscience, and human rights. To date, the Declarations for Human Rights of World Citizens and Peace have been endorsed by over 3.7 million people in 179 nations, and the Declaration for the Movement of An Era of Conscience and Declaration of International Day of Conscience have been endorsed by 330,000 people in 196 nations. FOWPAL hopes that everyone will act with conscience so that the world will be peaceful, and that everyone will be joyful so that every family will be happy.

About the Federation of World Peace and Love (FOWPAL): Established in 2000 in the United States by Dr. Hong, Tao-Tze, FOWPAL is an international love and peace organization, with members from around the world. It is guided by the principle that changing the world for the better starts with one good thought. Over the past two decades, FOWPAL has promoted conscience, love, and peace globally and attended Earth Summits to promote SDGs. It had worked with various Permanent Missions to the UN through conferences, bell ringing ceremonies, and declaration signing, making the UN’s adoption of the International Day of Conscience in July 2019 possible. They have held over 55 webinars in the past two years, fostering conscience-based sustainability.

Media Contact:
Lily Chen
Representative
info@fowpal.org
626-202-5268
www.fowpal.org

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2a1472e-0731-4de7-bd49-6f5663e62163

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress

Mark Simon ได้รับการแต่งตั้งให้เป็นรองประธานฝ่ายปฏิบัติการและการผลิตสำหรับหน่วยการทำงานด้านปั้มของกลุ่มบริษัท Nikkiso Clean Energy and Industrial Gases Group

เมืองเทเมคูลา รัฐแคลิฟอร์เนีย, June 11, 2022 (GLOBE NEWSWIRE) — กลุ่มบริษัท Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group (“กลุ่มบริษัทฯ”) ซึ่งเป็นบริษัทในเครือของกลุ่มบริษัท Nikkiso Co., Ltd (ญี่ปุ่น) มีความยินดีที่จะประกาศว่า Mark Simon ได้รับการแต่งตั้งให้เป็นรองประธานฝ่ายปฏิบัติการและการผลิตสำหรับหน่วยการทำงานของปั้ม

Mark มีประสบการณ์ระดับโลกและประสบการณ์ด้านการปฏิบัติการที่มีนัยสำคัญ โดยล่าสุดได้ร่วมงานกับบริษัท Ebara ในเมืองรีโนในช่วงเก้าปีที่ผ่านมา ซึ่งให้ความเป็นผู้นำในฐานะรองประธานฝ่ายการปฏิบัติการ/ผู้จัดการทั่วไปสำหรับแผนก Cryodynamics เขาได้รับการศึกษาและประกาศนียบัตรมากมายที่รวมถึงวุฒิการศึกษาด้านวิทยาศาสตร์บัณฑิตสาขาการบริหารธุรกิจ, ประกาศนียบัตร Greenbelt Lean/Six Sigma Certification และ ใบรับรอง ISO/QS 9000

ในบทบาทการทำงานของเขา Mark จะปฏิบัติหน้าที่เป็นผู้นำฝ่ายปฏิบัติการระดับสากลให้กับหน่วยการทำงาน Cryogenic Pumps Business Unit และทำงานเพื่อปรับสถานที่ปฏิบัติงานของกลุ่มบริษัทแห่งนี้ให้สอดคล้องเพื่อให้บริษัทมีการเติบโต มาตรฐานด้านคุณภาพ ความปลอดภัย และการรายงาน เขาจะพัฒนาและปรับใช้กลยุทธ์การผลิตระดับโลกและระบบการบริหารจัดการที่เป็นเลิศด้านการปฏิบัติการ

Daryl Lamy ประธานแผนก Cryogenic Pumps Unit ได้กล่าวไว้ว่า “ภูมิหลังและประสบการณ์ที่น่าประทับใจของ Mark ในอุตสาหกรรมด้านพลังงานและเครื่องจักรอุตสาหกรรมจะเป็นประโยชน์ต่อหน่วยการทำงานแผนก Pump Unit ของบริษัท NCEIG และเขาจะเข้ามาเป็นสมาชิกใหม่ในทีมงานผู้นำอาวุโสของเรา”

Mark จะประจำอยู่ที่สำนักงานในเมืองริโน รัฐเนวาดาและจะเดินทางไปยังสถานที่ตั้งของปั้มแห่งต่าง ๆ ของกลุ่มบริษัททั้งภายในประเทศและต่างประเทศ นอกจากนี้ Nikkiso ยังคงมุ่งมั่นที่จะแสดงตัวตนให้เป็นที่ประจักษ์แก่ลูกค้า ทั้งในระดับสากลและระดับท้องถิ่

เกี่ยวกับบริษัท CRYOGENIC INDUSTRIES
กลุ่มบริษัท Cryogenic Industries, Inc. (ปัจจุบันเป็นบริษัทในเครือของบริษัท Nikkiso Co., Ltd.) ผลิตและให้บริการอุปกรณ์เชิงวิศวกรรมสำหรับการแยกก๊าซด้วยความเย็นยิ่งยวด (เช่น ปั๊ม เทอร์โบเอกซ์เพนเดอร์ เครื่องแลกเปลี่ยนความร้อน เป็นต้น) และโรงแปรรูปสำหรับก๊าซอุตสาหกรรม (Industrial Gases), ก๊าซธรรมชาติเหลว (Natural Gas Liquefaction) (LNG), กระบวนการผลิตไฮโดรเจนเหลว (Hydrogen Liquefaction) (LH2) และ วัฎจักรแร็งคินสารอินทรีย์เพื่อการนำความร้อนทิ้งกลับมาใช้ใหม่ (Organic Rankine Cycle for Waste Heat Recovery) บริษัท Cryogenic Industries ซึ่งได้ก่อตั้งขึ้นมากว่า 50 ปีนั้นเป็นบริษัทแม่ของบริษัท ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne และ Cryoquip พร้อมทั้งกิจการธุรกิจที่อยู่ภายใต้การดูแลควบคุมจำนวนประมาณ 20 กิจการ

สำหรับข้อมูลเพิ่มเติม โปรดไปยังเว็บไซต์ www.nikkisoCEIG.com และ www.nikkiso.com.

สำหรับการติดต่อด้านสื่อ:
Anna Quigley
+1.951.383.3314
aquigley@cryoind.com

Drugs, underage patrons found in police raid on illegal pub in Bangkok

Officials from the Provincial Administration Department (PAD) and Pathumwan district police raided a pub in Bangkok’s Rong Muang area early this morning (Saturday), after they received information that the nightspot was allegedly admitting underage customers and staying open until 4am.

About 500 Thai and foreign customers were in the pub at the time of the raid. All of them, as well as the staff, were tested for drugs and 18 of them, including a 19-year-old pregnant woman, tested positive. Five were found to be under 20 and twenty six were not carrying identification.

Police said that they found several small packs, thought to be crystal methamphetamine and ecstasy, on the floor, and few wrapped in banknotes. The suspected drugs were seized to be used as an evidence against the pub operator and owner.

Police suspect that the drugs were sold to customers for use in the restrooms, as guards were posted in front of them.

Ronnarong Thipsiri, chief of the PAD’s law enforcement operations centre, said that this pub used to be a car maintenance garage, which was subsequently converted into pub, catering to foreign tourists, but it was closed down about four years ago.

He said the pub resumed allegedly illegal operation in February this year.

According to the police, the nightspot does not have any signage. Customers must enter through a shop house and a steel door, then pass another secret door on the second floor before reaching the pub.

Ronnarong said the pub owner and operators will face multiple charges, including operating a pub without a license, selling alcohol after hours, selling liquor to underage people and allowing drug abuses on the premises.

Meanwhile, the superintendent of Pathumwan police station, his two deputies, the chief inspector and an inspector have been transferred out of the station to the 6th division of Metropolitan Police Bureau pending a fact-finding investigation.

Deputy spokesman for the Royal Thai Police, Pol Col Krisana Pattanacharoen, confirmed today that the immediate transfers of the five officers are connected with the raid on the pub.

Source: Thai Public Broadcasting Service

PM Shows Concern and Instructs Labour Minister to Assign Inspector-General to Transport Body of Deceased Thai Worker from Oman to Their Home in Sakon Nakhon

Labour Minister Mr. Suchart Chomklin assigned the Ministry of Labour’s Inspector-Generals, Mr. Somchai Morakotsriwan, to travel to Suvarnabhumi Airport in Samut Prakan Province to receive the body of Ms. Suparat Nganlasam, a Thai woman who died in an accident after falling from a four-story building in Oman on May 27. According to Ms. Palida Ruamkham, Minister Counselor on Labour at the Royal Thai Embassy in Abu Dhabi said that the Labour Office has informed the Royal Thai Embassy in Muscat that the body of the deceased would be delivered yesterday (June 7, 2022) by Oman Air flight WY 817, departing from Muscat at 21.10 hour and arrive in Thailand at Suvarnabhumi Airport today (June 8, 2022) at 06.20 hours. Ms. Suparat had traveled on a tourist visa to work as a massage therapist in Oman. Her husband was from Oman.

Mr. Somchai said that the Prime Minister and Minister of Defense General Prayuth Chan-ocha, the Deputy Prime Minister General Prawit Wongsuwan, who oversees the Ministry of Labour, and Labour Minister Mr. Suchart Chomklin are concerned about all Thai workers working abroad and expressed condolences to Ms. Suparat’s family. Therefore, Mr. Somchai was assigned to lead the delegation, traveling with staff from the International Cooperation Bureau, the Suvarnabhumi Immigration Point, Suvarnabhumi Airport staff, and the Petchkasem Foundation. They provided convenience for the staff and arranged for the deceased’s body to be returned to their hometown.

Mr. Somchai spoke about the Ministry of Labour’s support. Since the incident, the Labour Minister has instructed the Labour Ambassador from all Labour Offices to enhance the supervision of Thai people working abroad. In this case, the Labour Office in Abu Dhabi, United Arab Emirates, responsible for workers in Oman, has coordinated with the Ministry of Foreign Affairs to assist in facilitating the repatriation of the remains to Thailand, following the relative’s wishes. Agencies under the Ministry of Labour in Sakon Nakhon Province, which is the domicile of the deceased Thai woman, visited the family to support and provide information on the process of assistance and to explain the benefits of Thai workers traveling to work abroad.

Permanent Secretary of Labour, Mr. Boonchob Suttamanaswong, assigned the Sakon Nakhon Provincial Labour Office to coordinate with the Petchkasem Foundation to arrange transportation for the deceased to their domicile in Sakon Nakhon Province, free of charge. They also sent wreaths on behalf of the Ministry of Labour’s executives to the deceased’s home.

Source: Ministry of Labour

Labour Minister Visits Geneva in Switzerland with Tripartite Representatives to Join the 110th ILC

Labour Minister Mr. Suchart Chomklin, Assistant to the Labour Minister Mr. Surachai Chaitrakulthong, Assistant Minister from the Prime Minister’s Office, performing duties for the Ministry of Labour Police Major General Nantachat Supamongkol, Permanent Secretary of Labour, Mr. Boonchob Suttamanaswong, the Ministry of Labour’s executives, government representatives, employer, and employee representatives traveled to Geneva in Switzerland between June 7 to 13, 2022, to join the 110th International Labour Conference (ILC) which took place in a hybrid form, following Thailand’s membership since its establishment in 1919. In the meeting, the Labour Minister had an agenda to meet Mr. Guy Rider, Director-General of the International Labour Organization, to discuss labour affairs and give a statement to the general meeting on June 9.

Mr. Suchart said that the essence of the 100th ILC included regular agendas, consisting of the ILO Director-General’s reporting and reports from the Chairperson of the Governing Body, plans, budgets, and reports on the implementation of conventions and recommendations. The meeting also included road agendas, consisting of setting standards for internships, revolving discussions on Strategic Employment Goals, and general discussions on decent work and socio-economic reconciliation. It also covered issues of safe working conditions and good hygiene in the framework of principles and fundamental rights at work and amendments to the code of conduct of the MLC Convention.

In addition, there were statements by tripartite representatives, World of Work Summit events, adoption of committee meeting resolutions and conclusions, and voting. All of the activities from his meeting will lead to setting international labor standards. It consists of conventions, recommendations, and protocols. There are currently 190 conventions, six protocols, and 206 recommendations.

In the 110th session of the International Labour Considered (ILC) meeting, the Labour Minister and team will discuss labour matters with Ambassadors and the Permanent Representative of Thailand to the United Nations in Geneva. They also paid a visit to support Thai workers working in Switzerland, which will benefit labour cooperation for workers to receive benefits and protection according to human rights principles and follow the International Labor Organization’s standards.

Source: Ministry of Labour

Labour Minister Assigns MOL Spokespersonto the South to Attend the SDSBP Committee Meeting on Resolving the People’s Issues and Recovering the Economy and Tourism in Hat Yai

Labour Minister Mr. Suchart Chomklin assigned the Deputy Permanent Secretary of Labour as the Ministry of Labour’s Spokesperson, Mr. Wannarat Srisuksai, to attend the meeting of the Strategic Development of the Southern Border Provinces (SDSBP) Committee No. 3/2022. Deputy Prime Minister General Prawit Wongsuwan, as the Chairman of the Strategic Development of the Southern Border Provinces Committee, chaired the meeting and followed up on economic promotion and resolution of problems and inequality in the southern border provinces. The meeting also discussed economic recovery and Hat Yai tourism, which took place at the Crystal Hotel, Hat Yai District, Songkhla Province. The meeting was attended by executives, civil servants, government officials, community leaders, and people in the area who joined the welcome.

Before the meeting, Mr. Wannarat joined General Prawit’s delegation in observing the exhibition on promoting the economy in the area, an exhibition on resolving poverty, inequality, and people development of all ages, and an exhibition promoting good people following religious principles to preserve and maintain a good multicultural society in the southern border provinces. The meeting acknowledged the results of the drive for the Betong Airport, which has been in operation since April 29, 2022, the Southern Border Provinces Security Index report, the report on the results of the project to enhance the development of the model town of Betong, Yala Province, and the report on the progress of the Sustainable, Prosperous and Sustainable Subdistrict project to eliminate poverty and develop people of all ages sustainably in the southern border provinces, following the sufficiency economy philosophy, under the one civil servant, one low-income household system. It also considered the report on the progress of fishing boats out of the system for sustainable marine fisheries resource management in the southern border provinces as an urgent agenda and the results of the activities of the National Reading Expo. The meeting approved the 6-year framework for economic recovery and tourism in Hat Yai – Songkhla (2022-2027), the southern border cattleman activities, and the project to upgrade the development of southern border provinces into a Smart City.

Mr. Wannarat said that the government under the leadership of the Prime Minister and the Minister of Defense General Prayuth Chan-ocha, and the Ministry of Labour under the supervision of Deputy Prime Minister General Prawit Wongsuwan, has an important policy to open the country in full of welcoming tourists to Thailand. The Hat Yai area is an especially important and potential center of trade, economy, and tourism in the southern region. When the COVID-19 situation has eased, it will be a good opportunity to restore confidence in the area’s tourism, trade, and investment sectors to be active as before. The Ministry of Labour by the Labour Minister Mr. Suchart Chomklin gives importance to driving such government policies by promoting employment for all ages, especially in the area. The focus is on developing skilled workers to be high-quality, ethical workers preferred by employers and businesses to provide them with careers, income, and social security.

In the afternoon, Mr. Wannarat joined General Prawit’s delegation to meet employers and business people in Hat Yai District, Songkhla Province, to discuss ways to restore the economy. He also met with religious leaders and low-income households participating in poverty alleviation assistance programs to reduce inequality and develop people of all ages.

Source: Ministry of Labour

Oil Falls as U.S. Inflation Data Surges, China Imposes Lockdowns

NEW YORK (Reuters) -Oil prices fell on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures.

Brent crude fell $1.06 to settle at $122.01 a barrel. U.S. West Texas Intermediate crude fell 84 cents to settle at $120.67 a barrel.

Both benchmarks still posted weekly gains, 1.9% for Brent and 1.5% for WTI.

For the day, oil prices sank along with Wall Street stocks after news that U.S. consumer prices accelerated in May. Gasoline prices have hit a record high and the cost of food has soared, leading to the largest annual increase in about 40 years. That raises expectations that the Federal Reserve will tighten policy more aggressively.

“The concern is that could be a forward indicator of consumer habits and even though gasoline demand is strong now, it’s a sign in the future that if gasoline prices don’t stabilize then consumers will be cutting back,” said Phil Flynn, analyst at Price Futures.

In another red flag for demand, Shanghai and Beijing went back on COVID alert on Thursday. Parts of Shanghai imposed new lockdown restrictions and the city announced a round of mass testing for millions of residents.

China’s crude oil imports in May were up nearly 12% from a year earlier, when they were low.

“This does not indicate that oil demand is picking up. Instead, China is likely to have acted opportunistically, buying crude oil from Russia at a significantly lower price than the global market level in order to replenish its stocks,” Commerzbank analyst Carsten Fritsch said.

Oil had risen more than $1 earlier in the session from fears of a potential disruption in supplies in Europe and Africa.

Norway’s oil output could be reduced if workers go on strike on Sunday, the Norwegian Oil and Gas Association (NOG) said.

Some 845 of roughly 7,500 employees on offshore platforms plan to strike from June 12 if annual pay negotiations fail.

Oil output at Libya’s Sarir field has been reduced after the ports of Ras Lanuf and Es Sider were closed and as a group threatened to close Hariga port, two oil engineers at the field said.

In U.S. supply, the U.S. oil rig count, an indication of future supply, rose six to 580 this week, their highest since March 2020.

Prospects are receding for reaching a nuclear deal with Iran and lifting U.S. sanctions on the Iranian energy sector.

Iran on Thursday dealt a near-fatal blow to chances of reviving the nuclear deal as it began removing essentially all the International Atomic Energy Agency monitoring equipment installed under the deal, IAEA chief Rafael Grossi said.

Money managers cut their net long U.S. crude futures and options positions by 1,674 contracts to 284,171 in the week to June 7, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

Source: Thai Public Broadcasting Service