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Bahrain: Commercial, Industrial Activities to Resume Under Strict Conditions

Employees sit behind their desks, as they wait for customers at a travel agency, following the outbreak of coronavirus, after the decision to ban travel to several countries, in Riyadh, Saudi Arabia March 12, 2020. REUTERS/ Ahmed Yosri
Employees sit behind their desks, as they wait for customers at a travel agency, following the outbreak of coronavirus, after the decision to ban travel to several countries, in Riyadh, Saudi Arabia March 12, 2020. REUTERS/ Ahmed Yosri
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Bahrain: Commercial, Industrial Activities to Resume Under Strict Conditions

Employees sit behind their desks, as they wait for customers at a travel agency, following the outbreak of coronavirus, after the decision to ban travel to several countries, in Riyadh, Saudi Arabia March 12, 2020. REUTERS/ Ahmed Yosri
Employees sit behind their desks, as they wait for customers at a travel agency, following the outbreak of coronavirus, after the decision to ban travel to several countries, in Riyadh, Saudi Arabia March 12, 2020. REUTERS/ Ahmed Yosri

Bahrain announced the resumption of commercial and industrial activities that provide direct services to customers as of Thursday, under strict precautions and health measures that include continuous sterilization, reducing the number of employees, working remotely as much as possible, and ensuring social distancing.

The announcement came in a press conference on Tuesday, in the presence of Fayekah Al-Saleh, Minister of Health, and Zayed al-Zayani, Minister of Trade, Industry, and Tourists, who in turn emphasized the closure of sports clubs, cinemas, buffets, cafes, and restaurants, except for food take-away and deliveries.

Zayani added that the concerned governmental committee has decided to resume commercial and industrial activities that provide services and goods directly to customers while taking the necessary health precautions and applying teleworking when possible.

The Minister of Health stressed that people in public places are required to wear masks.

For his part, Lt. Col. Manaf Al-Qahtani described as normal the increase in the number of people infected with the virus.

“But all these increases are within the pre-emptive precaution plans developed by the Kingdom of Bahrain,” he said, noting that the expectations indicate a further increase in infections next week.

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Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
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Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)

Oil prices ticked up on Thursday after Israel and Lebanon’s Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on south Lebanon.

OPEC+ also delayed by a few days a meeting likely to extend production cuts.

Brent crude futures edged up by 30 cents, or 0.4%, to $73.13 a barrel by 1741 GMT. US West Texas Intermediate crude futures were up 23 cents, 0.3%, at $68.93. Trading was thin because of the US Thanksgiving holiday, Reuters reported.
Israel's military said the ceasefire was violated after what it called suspects, some in vehicles, arrived at several areas in the southern zone.
The deal, which took effect on Wednesday, was intended to allow people in both countries to start returning to homes in border areas shattered by 14 months of fighting.
The Middle East is one of the world's major oil-producing regions, and while the ongoing conflict has not so far not impacted supply it has been reflected in a risk premium for traders.
Elsewhere, OPEC+, comprising the Organization of the Petroleum Exporting Countries and allies including Russia, delayed its next policy meeting to Dec. 5 from Dec. 1 to avoid a conflict with another event.
Also supporting prices, OPEC+ sources have said there will again be discussion over another delay to an oil output increase scheduled for January.
"It's highly unlikely they are going to announce an increase production at this meeting," said Rory Johnston, analyst at Commodity Context.
The group pumps about half the world's oil but has maintained production cuts to support prices. It hopes to unwind those cuts, but weak global demand has forced it to delay the start of gradual increases.
A further delay has mostly been factored in to oil prices already, said Suvro Sarkar at DBS Bank. "The only question is whether it's a one-month pushback, or three, or even longer."
Depressing prices slightly, US gasoline stocks rose 3.3 million barrels in the week ending Nov. 22, the US Energy Information Administration said on Wednesday, countering expectations of a small draw in fuel stocks ahead of holiday travel.
Slowing fuel demand growth in top consumers China and the US has weighed on oil prices this year.