Oil climbs as Venezuela sees output deal

first_imgBy Dmitry ZhdannikovLONDON (Reuters) –Oil prices rose on Monday from multi-week lows after Venezuela said OPEC and non-OPEC producers were close to a deal to stabilise the market and as clashes in Libya disrupted attempts to boost crude exports.Brent crude futures were at $46.32 per barrel at 1043 GMT (11.43 a.m. BST), up 55 cents from their previous settlement and off an earlier peak of 46.62. U.S. crude was up 61 cents, or 1.4 percent, at $43.64 a barrel.Venezuelan President Nicolas Maduro has said a deal could be announced this month to stabilise oil markets, which have come under pressure due to persistent oversupply.“We think there is a great window of opportunity for a freeze here,” Natixis analyst Deshpande Abhishek said. “It will not just help balance the markets, but it is also a win-win for OPEC and Russia, as Iran is unlikely to add extra production anyway for the next 6-12 months.”Crude exports from OPEC’s third biggest producer Iran jumped 15 percent in August from a month ago to more than 2 million barrels per day, according to a source with knowledge of its tanker loading schedule, closing in on shipment levels seen five years ago before Western sanctions.Last week, Brent hit a two-week low and U.S. crude fell to a five-week low on concerns about oversupply with more deliveries from Libya and Nigeria.On Monday, prices were also supported by a weaker dollar and as the expected boost to Libyan exports was delayed.Clashes in Libya have halted the loading of the first oil cargo from the port of Ras Lanuf in close to two years and raised fears of a new conflict over Libya’s oil resources.However, concerns about rising supplies remain a bugbear. A preliminary Angolan November loading plan showed supplies were set to bounce back from a 10-year low.In the United States, drillers have added oil rigs for 11 out of the past 12 weeks.(Additional reporting by Mark Tay in Singapore; editing by Himani Sarkar and David Clarke)last_img read more

Fukushima tops in Tokai Classic

first_img GET THE BEST OF THE JAPAN TIMES INABE, Mie Pref. – Veteran Akiko Fukushima rolled back the years with a vintage final-round performance to win the Munsingwear Ladies Tokai Classic on Sunday.After two runner-up finishes this season, Fukushima finally ended her two-year title drought after a flawless 6-under-par 66 gave her a two-shot victory over joint overnight leader Lee Ji Hee and an 18th career win on the Japan tour. IN FIVE EASY PIECES WITH TAKE 5center_img Fukushima knocked down back-to-back birdies from the fifth hole and continued her assault on the back nine of Ryosen Golf Club.The 33-year-old birdied the 10th and held off Lee by picking up three more shots through her last five holes. last_img

Meet the team that touts Zwift as the next big esports title

first_imgIf you go to any public gym, you’ll see an indoor cycle. What online platform Zwift has done to not only reinvent indoor cycling, but turn it into a game in its own right, is nothing short of impressive.Image credit: ZwiftAllowing users to train and compete in a virtual world, much of the gameplay is reliant on physical prowess and fitness – something rather unusual to esports on a wide scale. What was once an innocent attempt at livening up the activity of indoor cycling may have introduced a whole new genre to the burgeoning industry of competitive gaming.Once you get past the somewhat-costly fee required to acquire a solid setup, it’s as easy as inputting your information and getting going. The harder you pedal, the faster your in-game avatar rides – it’s that simple.OK, but how is it an esport?It’s undeniable that the online platform incorporates elements of gaming into its offering – just take one look at what’s happening in-game – though, perhaps most interestingly, it provides the most true blend of both physical and virtual competition we’ve seen yet.We’ve seen transferable skills in simulation racing – with the Formula 1 launching its own esports initiative, for example – and Zwift seems to fall into a similar, if not more intense, category. Physical fitness and endurance is needed to compete among the best, but strategy and mental smarts is what separates the winners from the losers.In September last year, the International Cycling Union announced a partnership with Zwift to launch its very first esports world championship in 2020.At the time, David Lappartient, President of Union Cycliste Internationale explained the decision: “Zwift is a platform that is enjoyed by people of all ages and abilities. However, there is a particularly exciting opportunity through esports as we look to attract a younger audience to cycling. Together we have an opportunity to support a fitter youth, through the creation of a new sustainable sport.”The definition of esports is somewhat loose and changes depending on who’s asked about it, but most would agree that it simply boils down to fair competition taking place on video games. Zwift has evolved indoor biking into its very own video game, retaining the physical aspects while incorporating elements of the ever-popular gaming industry to appeal to a whole new audience.Some will say it’s an esport, others will flat-out deny it. Either way, teams are forming and taking it as seriously as rosters do in any esports title you can think of. There’s even the likes of Zwift Community Live, the leading broadcast initiative for the competitive community, led by Nathan Guerra – who many consider to be the voice of the esport. Covering competitions with expert, professional commentary and insight, Zwift Community Live is doing a good job at highlighting the esport, its riders, and its teams.Meet EVOQ.BIKE p/b EnshoredThough Zwift is undoubtedly still in its infancy when it comes to its status as an esport, teams are forming with real athletic prowess and the smarts to match: meet EVOQ.BIKE p/b Enshored, a professional team co-founded by Patrick Mahoney, CEO of We Are Nations. Incredibly well-versed in esports through running We Are Nations, Mahoney and his teammates formed the side in late 2019.There isn’t a $30 million Zwift World Cup that attracts millions of viewers just yet, but EVOQ.BIKE p/b Enshored is still showing other teams how it’s done while the esport develops and grows. Crafting a professional appearance, infrastructure, and approach to competing, this team in particular is simply setting itself up for when Zwift – in their minds, at the very least – inevitably blows up.Image credit: EVOQ.BIKE p/b EnshoredWith both an in-game and real life kit already designed and ready to go, the team practices daily with each rider having their own speciality and preference when it comes to the types of races available. Take Adam Zimmerman, the 2018 USA National Zwift champion, for example. Before he even took to Zwift, he was an accomplished, elite rider in the traditional sense. While taking care of a new-born baby, Zimmerman practices for hours each day from the comfort of his own home – preparing for the next time that he’ll be competing.Zimmerman isn’t the only example of racers jumping ship, either. There’s a whole host of riders that train and race on Zwift that currently compete in the UCI World Tour, the top flight of competition for professional riders on the world stage. Much like sim racing can help drivers get into shape for a race, Zwift offers that opportunity for real-life riders too.Speaking of competitions, one look at Zwift Power will show you the breadth of races available for budding and professional riders alike. Zimmerman, according to the database, has competed in 265 races – the highest among his teammates – and has covered almost 22,000 kilometers at the time of writing. That’s some undeniable dedication.There are a growing number of competitors for EVOQ.BIKE p/b Enshored showing up on Zwift, but it’s fair to say that it’s setting the standard. The future of Zwift esports isn’t as clearly defined as other titles but whatever direction it takes will break new ground, an occurrence that’s all too familiar in the trailblazing esports industry.Subscribe to ESI on YouTubelast_img read more