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Russia, Turkey Hold Joint Patrol in Northern Syria

Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)
Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)
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Russia, Turkey Hold Joint Patrol in Northern Syria

Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)
Turkish officers talk with Russian officers near Turkish-Syrian border. (AP)

Russian Military Police held on Tuesday a joint patrol with Turkish forces in the eastern countryside of northern Syria’s city of Ain al-Arab (Kobani).

The patrol was the 92nd between the two forces in the region since both countries signed a ceasefire agreement in 2019.

It comprised eight Russian and Turkish military vehicles and set off from Ashma village, nearly 20 km west of Kobani.

The Turkish military vehicles then returned to Turkey through the gate near Gharib village, while the Russian military vehicles returned to their position near the town of Sirrin, south of Kobani.

Separately, the Turkish Defense Ministry announced the killing of 12 members of the Kurdish People’s Protection Units (YPG) that were allegedly plotting a terror attack in areas held by Turkish forces and allied Syrian factions in northern Syria.

The killed members of the YPG, the largest component of the US-backed Syrian Democratic Forces (SDF), were neutralized after they opened fire into Turkey’s Operation Euphrates Shield zone in northern Syria, said the ministry in a statement on Tuesday.

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Oil Trims Gains on Dollar Strength, Tight Supplies Provide Support

FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
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Oil Trims Gains on Dollar Strength, Tight Supplies Provide Support

FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo

Oil prices trimmed earlier gains on Wednesday as the dollar strengthened but continued to find support from a tightening of supplies from Russia and other OPEC members and a drop in US crude stocks.

Brent crude was up 21 cents, or 0.27%, at $77.26 a barrel at 1424 GMT. US West Texas Intermediate crude climbed 27 cents, or 0.36%, to $74.52.

Both benchmarks had risen more than 1% earlier in the session, but pared gains on a strengthening US dollar.

"Crude oil took a minor tumble in response to a strengthening dollar following news reports that Trump is considering declaring a national economic emergency to provide legal ground for universal tariffs," added Ole Hansen, analyst at Saxo Bank.

A stronger dollar makes oil more expensive for holders of other currencies.

"The drop (in oil prices) seems to be driven by a general shift in risk sentiment with European equity markets falling and the USD getting stronger," said UBS analyst Giovanni Staunovo.

Oil output from the Organization of the Petroleum Exporting Countries fell in December after two months of increases, a Reuters survey showed.

In Russia, oil output averaged 8.971 million barrels a day in December, below the country's target, Bloomberg reported citing the energy ministry.

US crude oil stocks fell last week while fuel inventories rose, market sources said, citing American Petroleum Institute figures on Tuesday.

Despite the unexpected draw in crude stocks, the significant rise in product inventories was putting those prices under pressure, PVM analyst Tamas Varga said.

Analysts expect oil prices to be on average down this year from 2024 due in part to production increases from non-OPEC countries.

"We are holding to our forecast for Brent crude to average $76/bbl in 2025, down from an average of $80/bbl in 2024," BMI, a division of Fitch Group, said in a client note.