BREAKING NEWS !

Michael’s Genuine Food & Drink: A Cornerstone of Miami’s Culinary Scene

-
Image
In the world of modern dining, it is rare to find a restaurant that combines high-quality ingredients, exceptional service, and a genuine dedication to the craft of cooking. Michael’s Genuine Food & Drink, located in the heart of Miami’s Design District, does just that. Since its opening in 2007, it has become a cornerstone of Miami’s culinary landscape, known for its vibrant atmosphere, locally sourced dishes, and commitment to sustainability. This article delves into the essence of Michael’s Genuine Food & Drink, exploring its history, menu, culinary philosophy, and its impact on Miami’s food scene. A Vision Realized: The Birth of Michael’s Genuine Michael’s Genuine Food & Drink was founded by renowned chef Michael Schwartz, who, even before opening his own restaurant, had established a reputation for his dedication to fresh, local ingredients and simple, but sophisticated cooking techniques. Schwartz’s early experiences working at high-end restaurants like “The Ritz-Car...
Post a Comment

Saudi pricing cuts offset Middle East concerns as oil prices decline.

-

 Saudi pricing cuts offset Middle East concerns as oil prices decline.

By Natalie Grover at 7:44 p.m. on January 8, 2024


                                                            Source reuters.com

January 8, London (Reuters) - Sharp price cuts by Saudi Arabia, the world's largest oil exporter, and an increase in OPEC production countered supply worries brought on by the rising geopolitical unrest in the Middle East, causing oil prices to plummet by more than 2% on Monday.

By 12:37 GMT, U.S. West Texas Intermediate crude futures had down 2.7%, or $2.01, to $71.8, while Brent crude had dropped 2.5%, or $1.99, to $76.77 a barrel.

In the first week of 2024, both contracts increased by more than 2% due to growing geopolitical risk in the Middle East following attacks on ships in the Red Sea by the Yemeni Houthis.

Saudi Arabia lowered its flagship Arab Light crude's February official selling price (OSP) to Asia to its lowest level in 27 months on Sunday due to increased supply and competition from other producers.

"Oil watchers are rightly questioning that the kingdom's cut is not only aimed at quelling interference from non-OPEC supply but from its very own cartel membership," said John Evans, an oil broker with PVM.According to a poll conducted by Reuters on Friday, OPEC's oil output increased in December due to increases in Nigeria, Iraq, and Angola, which countered ongoing reductions by Saudi Arabia and other OPEC+ members.

The increase occurred ahead of Angola's departure from OPEC and additional OPEC+ cuts in 2024, which are expected to reduce January output and market share.

"If we were just to focus on the fundamentals, including higher inventories, higher OPEC/non-OPEC production and a lower than expected Saudi OSP, it would be impossible to be anything other than bearish on crude oil," Tony Sycamore, an analyst with IG, said."However, that doesn't take into account the fact that geopolitical tensions in the Middle East are undeniably rising again, which will mean limited downside."

On Monday, U.S. Secretary of State Antony Blinken continued his diplomatic efforts to prevent the Gaza War from getting worse by meeting with leaders of the Arab world.

Houthi attacks on Red Sea trade lines have resulted from the conflict, which has already caused carnage in Lebanon, Syria, Iraq, and the Israeli-occupied West Bank.

According to Vandana Hari, the founder of oil market analysis company Vanda Insights, "the only counterweight, albeit a relatively weak and intermittent one, to crude prices succumbing to bearishness over expectations of softening global demand and rising inventories" is the Red Sea conflicts.

At its Sharara oilfield, which has a daily production capacity of up to 300,000 barrels, Libya's National Oil Corporation on Sunday declared a force majeure, which somewhat mitigated the decline in oil prices.

Reports from Mohi Narayan in New Delhi, Florence Tan in Singapore, and Natalie Grover in London David Goodman handled the editing.

Source reuters.com

Comments

Post a Comment

Popular posts from this blog

President Jokowi: Indonesia Is About to Become a New Economic Superpower

-
Image
Along with China and India, President Joko "Jokowi" Widodo has voiced optimism that Indonesia will emerge as one of the new economic superpowers. With the transition from the West to Asia, we have entered "the Asian century." Another change in the economy's growth pattern is Asia. In his opening remarks at the BNI Investor Daily Summit 2024, held on Tuesday, October 8, at the Jakarta Convention Center (JCC), Senayan, Jakarta, President Jokowi stated that three new economic powers—India, China, and Indonesia—are expected to emerge in Asia. But he also cautioned that Indonesia would have to overcome many obstacles and fulfill a number of standards in order to accomplish that aim. Thus, the President continued, maintaining optimism is essential while dealing with a variety of global issues, including as the effects of climate change, economic downturns, and heightened geopolitical tensions. He said that all of these have an impact on the world economy, which includ...
Read more

In Jordan's Petra, a highly precious secret tomb was discovered.

-
Image
LONDON: According to The Times, archaeologists have discovered hundreds of artifacts and human remains in a secret tomb in Petra, Jordan. Researchers may be able to answer long-standing doubts about the ancient city's origins and its builders thanks to the discovery of the 2,000-year-old underground location. The tomb, which was beneath Petra's Treasury, had hundreds of bronze, iron, and ceramic objects in addition to twelve well-preserved skeletons. The renowned structure, which has been portrayed in movies like "Indiana Jones and the Last Crusade," was excavated beneath it by the combined US-Jordanian archaeological team that discovered the discovery. The tomb is thought to have been commissioned by residents of high social status based on its central location inside the UNESCO World Heritage Site. Lead archaeologist Dr. Pearce Paul Creasman, executive director of the American Center of Research, anticipates hundreds more items to be found as excavation proceeds. Th...
Read more

In the first half of2024, visitors to the Kingdom spent more than $24 billion.

-
Image
RIYADH: According to the Saudi Ministry of Tourism, the Kingdom had an 8.2 percent increase in international tourist expenditure in the first half of 2024 as compared to the same period in 2023. Approximately SR92.6 billion ($24.5 billion) was spent in all. According to the Saudi Press Agency, the Kingdom also declared a surplus in the travel account, estimated to be worth SR41.6 billion. The Kingdom has seen a rise in visitor expenditure, which is one of the major trends in the tourism industry. According to the UN World Tourism Organization, during the first seven months of 2024, compared with the same period in 2019, the Kingdom led the list of G20 countries in terms of growth in the number of foreign visitors and growth in international tourism income. The data released validates the efficacy of the measures implemented by the tourism system to attain worldwide leadership in the industry. These measures include the utilization of optimal tourism development practices, enhancement o...
Read more