2026-02-01 00:48
SINGAPORE, Feb 1 (Reuters) - Two tankers suspected of illegal ship-to-ship oil transfers were detained and more than 512 million ringgit ($129.9 million) worth of crude oil seized 24 nautical miles west of Muka Head, Penang last week, the Malaysian Maritime Enforcement Agency said on Saturday. The agency did not specify the origin of the oil being transferred. Sign up here. The waters off Malaysia are known as a regular site for illegal ship-to-ship transfers, where oil is shifted between tankers at sea to obscure its origin. Malaysian authorities said in July last year they would more tightly enforce rules around the practice. The seized tankers, worth 718 million ringgit, were carrying 53 Chinese, Burmese, Iranian, Pakistani and Indian crew members. The two captains of the ships were arrested and handed over to Penang state maritime investigation officials, the agency said. Maritime Captain Muhammad Suffi Mohd Ramli said the tankers at anchor were inspected after a patrol boat received a complaint at about 1 a.m. local time on Thursday. The ships were found in a coupled position and suspected of carrying out transfer activities. The captain added that the tankers are being investigated for anchoring without permission, which carries a penalty of 100,000 ringgit, and carrying out illegal ship-to-ship transfer activities, which carries a penalty of 200,000 ringgit per vessel. ($1 = 3.94 ringgit) https://www.reuters.com/business/energy/malaysia-seizes-1299-million-crude-oil-tankers-suspected-illegally-transferring-2026-02-01/
2026-01-31 23:45
Jan 31 (Reuters) - United Steelworkers members at BP's (BP.L) , opens new tab 440,000-barrel-per-day refinery in Whiting, Indiana, rejected the company's offer to extend their contract by 28 days at the largest refinery in the U.S. Midwest, the company said in a statement on Saturday. United Steelworkers Local 7-1, which represents around 800 workers at Whiting, said on Friday in a statement to members on its website that the two sides remain apart, but workers should report to work as scheduled to ensure the facility's safe operation. Sign up here. "While there is no intent to have a work stoppage, we need to be prepared," the union said. "Our plans for strike or lockout have been initiated. We ask that you not be alarmed by this activity. We will continue to bargain with the goal of reaching an agreement that is mutually beneficial by February 1st." "BP remains committed to negotiating in good faith with the USW to improve the competitiveness of our business and create a sustainable future for all", the company said in an emailed statement to Reuters. The union has previously said BP proposed cutting more than 200 union jobs in operations, maintenance and environmental safety. It said in its statement on Friday there were differences over issues such as seniority, layoffs and wages. The collective bargaining agreement expires on Saturday. The Whiting refinery produces transportation fuels including gasoline, diesel fuel and jet fuel. The union did not immediately respond to requests for further comment. https://www.reuters.com/business/world-at-work/bps-whiting-refinery-union-workers-reject-contract-extension-2026-01-31/
2026-01-31 21:05
Jan 31 (Reuters) - Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani met with top Iranian security official Ali Larijani in Tehran and reviewed efforts to de-escalate tensions in the region, Qatar's foreign ministry said on Saturday in a statement. Sign up here. https://www.reuters.com/world/middle-east/qatari-pm-meets-irans-larijani-tehran-discusses-easing-regional-tensions-2026-01-31/
2026-01-31 18:02
Jan 31 (Reuters) - Bitcoin, the world's largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET (1748 GMT) on Saturday, continuing its decline from the previous session. On Friday, bitcoin fell to as low as $81,104, the lowest since November 21, while the U.S. dollar gained after former Federal Reserve Governor Kevin Warsh was selected as the next Fed chair. Some investors and traders are concerned he might tighten up on cash in the financial system. Sign up here. Warsh has called for regime change at the central bank and wants, among other things, a smaller Fed balance sheet. Bitcoin and other cryptocurrencies have been regarded as beneficiaries of a large balance sheet, having tended to rally while the Fed greased money markets with liquidity - a support for speculative assets. Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin, said the Fed's "bloated balance sheet combined with heavy-handed bank regulation" had kept liquidity trapped on Wall Street instead of flowing to Main Street, helping fuel bubbles in assets such as bonds, crypto, metals and meme stocks. Ether also fell 11.76% to $2,387.77 on Saturday afternoon. Cryptocurrencies have been struggling for direction since tumbling last year, having been left behind by big rallies in gold and stocks. "Sometimes these price adjustments feed on themselves," Jacobsen said, adding that Friday’s abrupt drop had reminded people of the risks. He said it was "possible, if not likely, that we see more selling over the next few days." Cryptos are having a rough time in what was once hoped to be a golden era of flows and friendly regulation under President Donald Trump. Market-leading bitcoin has lost a third of its value since striking record highs in October last year. https://www.reuters.com/business/bitcoin-falls-below-80000-continuing-decline-2026-01-31/
2026-01-31 17:44
RABAT, Jan 31 (Reuters) - Morocco has deployed army rescue units to help with the evacuation of thousands of people after floods triggered by torrential rains and rising river levels hit parts of the country's northwest, state TV reported on Saturday. Weeks of heavy rainfall, combined with water releases from a nearly full dam nearby, increased water levels in the Loukous River and flooded several neighbourhoods in the city of Ksar Kbir, about 190 km (118 miles) north of the capital Rabat, a national flood follow-up committee said. Sign up here. More than 20,000 people had been moved to shelter and camps by Saturday, official media reported. Authorities set up sandbags and temporary barriers in flood-prone districts as waters began to recede. Schools in Ksar Kbir have been ordered to remain closed until February 7 as a precaution. In the nearby province of Sidi Kacem, the Sebou River's rising levels prompted evacuations from several villages as authorities raised vigilance levels. The abundant rainfall ended a seven-year drought that drove the country to invest heavily in desalination plants. The average dam-filling rate has risen to 60%, with several major reservoirs reaching full capacity, according to official data. Last month, 37 people were killed in flash floods in the Atlantic coastal city of Safi, south of Rabat. https://www.reuters.com/sustainability/climate-energy/morocco-deploys-army-help-evacuate-thousands-after-floods-2026-01-31/
2026-01-31 12:10
Two people killed, 14 hurt in blast in southern Iranian port Four people killed in second explosion in city of Ahvaz, Iranian media reports Both blasts caused by gas leaks, according to local media Iran on high alert after Trump says he is sending warships to Gulf Jan 31 (Reuters) - An explosion that hit a building in the southern Iranian port city of Bandar Abbas on Saturday was caused by a gas leak, according to a preliminary assessment, the local head of the fire department said. Iranian state media reported that at least two people have been killed and 14 injured in the blast, which comes amid heightened tensions between Tehran and Washington over Iran's crackdown earlier this month on nationwide protests and over the country's nuclear programme. Sign up here. "This (gas leak) is the preliminary assessment. My colleagues will give more details in the next few hours," Mohammad Amin Liaqat, the fire department chief, said in a video published by Iran's semi-official Mehr news agency. A video published on social media showed people standing among debris and wrecked cars in front of a damaged building following the explosion. Reuters was able to verify the location by analysing buildings, trees, and road layout, which matched satellite and file imagery. Reuters could not independently verify the date the video was filmed. Separately, four people were killed after another gas explosion in the city of Ahvaz near the Iraqi border, according to state-run Tehran Times. No further information was immediately available. NERVES STRAINED AS TRUMP PILES PRESSURE ON IRAN The explosions highlighted the jittery mood prevailing in Iran amid its clerical rulers' standoff with the Trump administration. U.S. President Donald Trump said on January 22 an "armada" was heading toward Iran. Multiple sources said on Friday that Trump was weighing options against Iran that include targeted strikes on security forces. Ali Larijani, a senior Iranian security official, said on X on Saturday that work on a framework for negotiations with the United States was progressing, downplaying what he described as an "atmosphere created by artificial media warfare." Trump told Fox News correspondent Jacqui Heinrich that Iran was "negotiating, so we'll see what happens," Heinrich wrote on X. "You know, the last time they negotiated, we had to take out their nuclear, didn't work, you know. Then we took it out a different way, and we'll see what happens," Heinrich quoted Trump as saying. Before the reports of the two blasts on Saturday, Iranian President Masoud Pezeshkian accused U.S., Israeli and European leaders of exploiting Iran's economic problems, inciting unrest and providing people with the means to "tear the nation apart.” The semi-official Tasnim news agency said social media reports alleging that a Revolutionary Guard navy commander had been targeted in the Bandar Abbas explosion were "completely false." Two Israeli officials told Reuters that Israel was not involved in Saturday's blasts. The Pentagon did not immediately respond to a request for comment. Bandar Abbas, home to Iran's most important container port, lies on the Strait of Hormuz, a vital waterway between Iran and Oman which handles about a fifth of the world's seaborne oil. The port suffered a major explosion last April that killed dozens and injured over 1,000 people. An investigative committee at the time blamed the blast on shortcomings in adherence to principles of civil defence and security. Iran has been rocked by nationwide protests that erupted in December over economic hardship and have posed one of the toughest challenges to the country's clerical rulers. U.S.-based rights group HRANA has said at least 6,500 people were killed in the protests, including hundreds of security personnel. https://www.reuters.com/world/middle-east/explosion-occurs-irans-southern-port-bandar-abbas-iranian-media-reports-2026-01-31/
