China imported 11.8 million barrels per day (BPD) of oil in the last month, 5.5% higher than in August
Oil demand is driven primarily by China, Commerzbank’s analysts wrote
Crude oil prices moved over 2.2% higher to hit $40.50 per barrel today
Crude oil prices recovered today, fueled by strong data in China. However, the data from the rest of the world show fading demand and supply renewals in Norway, Libya and the Gulf of Mexico capped the gains.
Fundamental analysis: China helps crude
China, the number one crude oil importer in the world, imported 11.8 million barrels per day (BPD) of oil in the last month. This is 5.5% higher than in August and up 17.5% from September 2019, according to data from customs.
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“Currently, oil demand is driven primarily by China,” Commerzbank said in a note.
The International Energy Agency (IEA) said a vaccine could prompt rebound in the economy on a global level next year while energy demand could go back to its old levels by 2023.
“The era of global oil demand growth will come to an end within the next 10 years, but in the absence in a large shift in government policies, I don’t see a clear sign of a peak,” IEA Executive Director Fatih Birol.
Meanwhile, the UK and the Czech Republic have reintroduced some lockdown measures to curb the increase in the number of new coronaviruses cases, and French Prime Minister Jean Castex said he could not exclude local lockdowns.
Oil platforms in the Gulf of Mexico have welcomed back the workers following the recent Hurricane Delta, while restarted its operations at its Sharara oilfield after a force majeure.
Libya’s total oil production was projected to reach 355,000 bpd and a full return of the 300,000-bpd Sharara field would almost double that figure.
Technical analysis: Oil up 2%
Crude oil prices moved up over 2.2% to hit $40.50 per barrel. The portion of losses from the last two days have now been erased to allow oil prices to trade above the $40 mark once again.
Crude oil daily chart (TradingView)
The 200-DMA comes in at $39.93, with a daily close above this level opening a door for higher levels. In this case, oil traders are likely to aim for $42.30, which hosts horizontal resistance.
Crude oil prices recovered today on strong trade data in China but the concerns about the weak demand in other regions of the world and supply recommencement in the Gulf of Mexico, Norway and Libya limited the gains.
Use of micro ScoutCam 8.0 HD marks the customized visual solutions leader’s second in-flight achievement with the U.S. space agency
OMER, Israel, Oct. 23, 2020 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq:MDGS) (TASE:MDGS), a technology company engaged in advanced medical solutions and innovative internet technologies, today announced it was informed by ScoutCam Inc. (OTCQB: SCTC) Medigus’ subsidiary (50.1%) and a leading developer and manufacturer of customized visual solutions and supplementary technologies, about the success of its micro ScoutCam 8.0 HD in NASA’s third Robotic Refueling Mission (RRM3), which was officially used in-orbit on October 19th-22st, 2020.
The micro camera serves as the borescope camera on NASA’s Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2), a robotic, multi-capability inspection tool, which was launched to the International Space Station on December 5, 2018. Custom-developed for NASA between 2015 and 2016, micro ScoutCam 8.0 HD features one module consisting of HD camera and illumination.
NASA’s RRM3 builds on the first two phases of International Space Station technology demonstrations that tested tools, technologies, and techniques to refuel and repair satellites in orbit. The second phase of the Robotic Refueling Mission utilized micro ScoutCam 1.2, the first generation of the company’s minuscule video camera.
“We are thrilled that micro ScoutCam 8.0 HD was a success in NASA’s RRM3 mission," said Yaron Silberman, Chief Executive Officer of ScoutCam. “We strive to provide our customers with cutting-edge, custom technologies, and are pleased with our second success with NASA, as tools like micro ScoutCam 8.0 could be used to aid in the replenishment of vital supplies in space. We are especially proud that the continued collaboration is the result of an official global tender bid with the United States Government, where ScoutCam’s technology was selected over that of other companies."
“During the test phase, micro ScoutCam 8.0 HD outperformed its already successful first-generation predecessor,” said Professor Benad Goldwasser, ScoutCam’s Chairman of the Board. “The improvement showcased ScoutCam’s ability to evolve with our changing technologies and provide our customers with the solution they need to further their goals. We are extremely pleased with the outcome and the partnership overall.”
In addition to its miniature size, the versatile micro ScoutCam 8.0 HD camera features state of the art customizable optics and noteworthy image quality. The waterproof device is also able to adapt in a variety of extreme temperatures, and withstand various vibrations, radiation and vacuums.
Medigus is traded on the Nasdaq Capital Market and the TASE (Tel Aviv Stock Exchange). To learn more about the company’s advanced technology, please visit www.medigus.com.
Cautionary Note Regarding Forward Looking Statements
This press release may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates, assumptions and expectations of the company’s management and its knowledge of the relevant market. The company has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. For example, the company is using forward-looking statements when it discusses the use of tools like micro ScoutCam 8.0 to aid in replenishing vital supplies in space, and ScoutCam’s ability to evolve with its changing technologies and provide its customers with the solution they need to further their goals. These forward-looking statements represent company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, due to inter alia the spread of COVID-19 as well as the restriction deriving therefrom. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of the company’s activity to differ significantly from the content and implications of such statements. Other risk factors affecting the company are discussed in detail in the company’s filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither the company nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of company securities. Nothing in this press release should be deemed to be medical or other advice of any kind.
Novocure (NASDAQ: NVCR) announced today that William Doyle, the company’s Executive Chairman, and Dr. Uri Weinberg, the company’s Chief Science Officer, will participate in the 2020 Wells Fargo Virtual Healthcare Conference on September 9, 2020. Mr. Doyle and Dr. Weinberg will take part in a fireside chat at 8:40 a.m. EDT. Mr. Doyle and Dr. Weinberg will also participate in one-on-one meetings with investors throughout the day.
A live webcast of the presentation can be accessed from the Investor Relations page of Novocure’s website, www.novocure.com/investor-relations, and will be available for replay for at least 14 days following the event.
Novocure’s corporate presentation is updated periodically, and the current presentation can be accessed from the Investor Relations page of Novocure’s website, www.novocure.com/investor-relations. NovoCure has used, and intends to continue to use, its investor relations website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer through the development and commercialization of its innovative therapy, Tumor Treating Fields. Novocure’s commercialized products are approved in certain countries for the treatment of adult patients with glioblastoma and in the U.S. for the treatment of adult patients with malignant pleural mesothelioma. Novocure has ongoing or completed clinical trials investigating Tumor Treating Fields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer, liver cancer, gastric cancer and glioblastoma.
Headquartered in Jersey, Novocure has U.S. operations in Portsmouth, New Hampshire, Malvern, Pennsylvania and New York City. Additionally, the company has offices in Germany, Switzerland, Japan and Israel. For additional information about the company, please visit www.novocure.com or follow us at www.twitter.com/novocure.
In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. Forward-looking statements provide Novocure’s current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, clinical trial progress, development of potential products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, coverage, collections from third-party payers and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate,” "estimate,” "expect,” "project,” "intend,” "plan,” "believe” or other words and terms of similar meaning. Novocure’s performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions as well as issues arising from the COVID-19 pandemic and other more specific risks and uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 27, 2020 and its Quarterly Report on Form 10-Q filed on April 30, 2020 with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, Novocure does not intend to update publicly any forward-looking statement, except as required by law. Any forward-looking statements herein speak only as of the date hereof. The Private Securities Litigation Reform Act of 1995 permits this discussion.
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