China Gasoline Exports to N.Korea Nosedive as Tillerson Hails Pyongyang’s Recent Restraint

A car drives past residential buildings in Pyongyang, North Korea on April 11, 2012. (Reuters)
A car drives past residential buildings in Pyongyang, North Korea on April 11, 2012. (Reuters)
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China Gasoline Exports to N.Korea Nosedive as Tillerson Hails Pyongyang’s Recent Restraint

A car drives past residential buildings in Pyongyang, North Korea on April 11, 2012. (Reuters)
A car drives past residential buildings in Pyongyang, North Korea on April 11, 2012. (Reuters)

Gasoline exports from China to North Korea took a sharp dip in July, which would threaten critical supplies of fuel and force the isolated country to seek alternatives to its main supplier.

The decline, revealed by customs data, is the strongest sign yet that the suspension of sales of the fuel by China’s state oil major CNPC has cut critical supplies to its southern neighbor.

Beijing's General Administration of Customs said on Wednesday Chinese shipments of gasoline dropped 97 percent from a year ago to just 120 tons of the fuel - worth little more than $100,000. The number was down from 8,262 tons in June.

Monthly fluctuations in the data are not unusual, but this was the fourth-lowest volume on Reuters' records of customs data going back to January 2010.

Customs data also showed China's trade with North Korea fell last month as a ban on coal purchases from its isolated neighbor slowed imports amid growing pressure from the United States to rein in Pyongyang's missile program.

At the end of June, Reuters reported China National Petroleum Corp (CNPC) suspended sales of gasoline and fuel to North Korea over concerns CNPC would not get paid for its goods.

Fuel prices in the country surged following the cut and the measure is still in place, people familiar with the matter say.

Gasoline typically accounts for the bulk of fuel exports to North Korea, but July data showed the biofuel, ethanol, took the top spot with shipments of 4,137 cubic meters, worth $1.9 million.

On Tuesday, US Secretary of State Rex Tillerson commended North Korea for recent restraint in its provocations and said it could point the way to a possible dialogue with the US.

It was rare positive expression from the US toward the authoritarian government in Pyongyang and comes amid a slight easing in recent tensions between the adversaries that had flared after President Donald Trump pledged to answer North Korean aggression with "fire and fury." North Korea, for its part, had threatened to launch missiles toward the American territory of Guam.

Addressing reporters at the State Department, Tillerson said that North Korea had "demonstrated some level of restraint that we have not seen in the past" by not conducting missile launches or provocative acts since the UN Security Council adopted tough sanctions on August 5.

"We hope that this is the beginning of this signal that we have been looking for, that they are ready to restrain their level of tensions, they're ready to restrain their provocative acts," Tillerson said, "and that perhaps we are seeing our pathway to sometime in the near future having some dialogue."

Tillerson added a caveat.

"We need to see more on their part," he said, without elaborating.

The UN sanctions were a response to twin tests last month of an intercontinental ballistic missile that may be able to reach parts of the US, heightening concern in Washington that North Korea could soon be able to threaten it with nuclear weapons. It was the latest salvo in the Trump administration's push to increase economic and diplomatic pressure on Kim Jong Un's government.

However, the US administration has left the door open to engagement with the North, with Tillerson recently urging it to stop missile tests to show its sincerity. While the two sides have maintained quiet diplomatic contacts in recent months, there has been scant sign that Pyongyang will oblige.

Kim has held off on the North's supposed plans to fire missiles into waters near Guam that were advertised in state media earlier this month, but his government this week has kept up its harsh criticism of the US over annual military drills conducted with close ally South Korea.

The North regards the drills as preparation for invasion and on Tuesday its military vowed, with customarily tough rhetoric, a "merciless retaliation" against the US Senior US military commanders dismissed calls to pause or downsize the exercises that they view as crucial to countering a clear threat from Pyongyang.



Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.


Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 


Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.