Oil rises on tightening supplies, Middle East tensions

June 5, 2017

Singapore, Jun 5: Oil markets edged higher on Monday as rising Saudi physical prices and signs of falling OPEC supplies slightly outweighed a persistent rise in US production.

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Tensions in the Middle East, where top oil exporter Saudi Arabia cut ties with top liquefied natural gas (LNG) shipper Qatar over concerns about terrorism and extremism, also pushed up crude futures, traders said.

Brent crude oil futures were at $50.21 per barrel at 0308 GMT, up 26 cents, or 0.5 percent.

U.S. West Texas Intermediate futures were at $47.90 a barrel, up 24 cents, or 0.5 percent.

Traders said that prices had received support from a tightening physical crude market.

Saudi Aramco raised July prices for its Arab Light grade to all major regions of Asia, Northwest Europe, and the United States on Sunday.

The price signal reflected other signs that an effort led by the Organization of the Petroleum Exporting Countries (OPEC) to curb production by almost 1.8 million barrels per day (bpd) was starting to impact actual supplies.

Shipping data in Thomson Reuters Eikon shows that OPEC tanker supplies to customers around the world were at 24.3 million bpd in May, down from 24.8 million bpd in April and compared with an average of 25.1 million bpd in the first five months of the year.

OPEC shipped an average of 26.4 million bpd in the last three months of 2016.

Despite this, Brent futures are still more than 8 percent below their level on May 25, when OPEC announced it would extend its production cut into 2018.

That's because crude production in the United States , which is not participating in the cuts, has jumped by over 10 percent since mid-2016 to 9.34 million bpd, close to levels by top producers Saudi Arabia and Russia.

"Investors continue to doubt the ability of OPEC to rebalance the oil market, with crude oil prices remaining under pressure amid further signs of rising U.S. oil production," ANZ bank said on Monday.

The rise in U.S. production has been driven by a record 20th straight rise in oil drilling for new production, with the rig count rising by 11 in the week to June 2, to 733, the most since April 2015.

Also Read: Ramadan shocker: Saudi, UAE, Bahrain, Egypt cut ties with Qatar

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December 15,2025

Udupi, Dec 15: What was meant to be a post-pilgrimage gathering turned tragic in Padukere village of Brahmavar taluk, Udupi district, late Sunday night, when a clash among youths escalated into a fatal assault, leaving one man dead.

The victim has been identified as 30-year-old Santosh Mogaveera, a resident of Padukere.

According to preliminary information, the incident took place during a late-night drinking party involving a group of local youths who had recently returned after completing their pilgrimage to the Sabarimala shrine. An argument reportedly broke out among the group and soon escalated into a violent confrontation.

During the ensuing brawl, Santosh Mogaveera was allegedly assaulted and collapsed at the spot after sustaining serious injuries. He was rushed by local residents to a private hospital in Brahmavar, where doctors declared him dead.

On receiving information, senior police officials, including Brahmavar Circle Inspector Gopikrishna, Kota Police Sub-Inspector Praveen Kumar T, Station ASI Manthesh Jabagoudar, and head constables Pradeep and Ashok, visited the spot and conducted an inspection.

Police have taken four youths into custody in connection with the incident. A case has been registered at the Kota police station, and further investigation is underway to ascertain the exact sequence of events leading to the death.

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News Network
December 15,2025

Mangaluru, Dec 15: Educational institutions in Mangaluru that rely on the popular Mangala Stadium for their annual sports events are bracing for an inconvenience as the city's key sporting venue is set to close its gates for a significant upgrade. The stadium is expected to be unavailable for approximately two months starting from January 15, 2026.

The closure is necessitated by a proposed overhaul of the stadium's facilities, with a special focus on upgrading the synthetic track. Pradeep Dsouza, Assistant Director of the District of Youth Empowerment and Sports (DYES), Dakshina Kannada, confirmed the development.

"Experts have visited the stadium, conducted a thorough inspection, and have given the go-ahead for a complete makeover," Dsouza stated. "Funds have been allocated for the project, and we are currently awaiting the final green signal from state officials to commence the work. We anticipate that the work will likely begin in the second week of January. Consequently, we have stopped renting out the stadium to colleges and other organizations in preparation for the upgrade."

The timing presents a logistical challenge for colleges, as many schools have already concluded their sports meets.

"Colleges will now be organizing their events and will need to find alternative locations to host their sports meets," Dsouza added. He suggested a few potential venues, including the Dakshina Kannada police ground, University College grounds, Panambur grounds, Swaraj Maidan in Moodbidri, and the Mangalore University sports grounds in Konaje.

However, many institutions note that finding a comparable venue will be difficult. While the DK police ground and University College grounds are closer to the city center, they do not possess the extensive facilities and infrastructure offered by Mangala Stadium.

Dr. P Dayananda Pai - P Satisha Govt First Grade College, Carstreet, is one such institution dependent on the stadium. Principal Jayakar Bhandary expressed hope for a swift completion of the work. "We expect the work to be completed at the earliest. If not, we will be forced to look for other venues to host the sports day for our students," Bhandary said, highlighting the pressing need for the city's main sporting facility.

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December 7,2025

SHRIMP.jpg

Mangaluru, Dec 7: A rare bamboo shrimp has been rediscovered on mainland India more than 70 years after it was last reported, confirming for the first time the presence of Atyopsis spinipes in the country. The find was made by researchers from the Centre for Climate Change Studies at Sathyabama Institute of Science and Technology, Chennai, during surveys in Karnataka and Odisha.

The team — shrimp expert Dr S Prakash, PhD scholar K Kunjulakshmi, and Mangaluru-based researcher Maclean Antony Santos — combined field surveys, ecological assessments and DNA analysis to identify the elusive species. Their findings, published in Zootaxa, resolve decades of taxonomic confusion stemming from a 1951 report that misidentified the species as Atyopsis moluccensis without strong evidence.

The shrimp has now been confirmed at two locations: the Mulki–Pavanje estuary near Mangaluru and the Kuakhai River in Bhubaneswar. Historical specimens from the Andaman Islands, previously labelled as A. moluccensis, were also found to be misidentified and actually belong to A. spinipes.

The rediscovery began after an aquarium hobbyist in Odisha spotted a shrimp in 2022, prompting systematic surveys across Udupi, Karwar and Mangaluru. Four female specimens were collected in Mulki and one in Odisha, all genetically matching.

Researchers warn the species may exist in very small, vulnerable populations as freshwater habitats face increasing pressure from pollution, sand mining and infrastructure development. All verified specimens have been deposited with the Zoological Survey of India for future reference.

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