Kuwait

A bizarre “bio warfare” storm has killed five people in Kuwait, just days after a similar storm hit Australia killing six and leaving thousands of others hospitalized.  Five expatriate workers died from “severe asthma attacks” during the freak storms, as torrential rain hit Kuwait on Friday. According to local news, two Egyptians and a 35-year-old Indian immigrant passed away at Mubarak Al-Kabir Hospital during the unusual weather. Two other people died of asthma after reporting to a hospital in the district of Al-Farwaniya.

A day after oil tumbled to the lowest level in weeks, it has once again started to climb, ignoring the changing dynamic in the oilsands region where the fire has now moved away from critical Canadian oil infrastructure, and is instead focusing on concerns about supply disruptions not just out of Canada but also a series of attacks on Nigeria's oil infrastructure which pushed the country's crude output close to a 22-year, cumulatively knocking out 2.5 million barrels of daily production.

Kuwait is about to become the first nation in the world to conduct total mandatory DNA tagging which will  apply both to their own citizens as well as tourists. All visitors to Kuwait will have to submit to a DNA test and be tagged before they’re allowed to enter the Persian Gulf state.

The biggest catalyst for overnight markets, first reported on this site, was the announcement by Kuwait that its oil workers had ended their strike which disrupted oil production in the 4th largest OPEC producer for 3 days cutting it by as much as 1.7 mmb/d, and had served to offset the negative news from the Doha debacle. Kuwait Petroleum also added that it would boost output to 3m b/d within 3 days, which in turn has pressured the price of oil overnight, and the May WTI contract was back to just over $40 at last check, sliding 2%.

The catalyst that moved oil prices higher over the past two days, and which had overriden the "bad news" from the Doha talks failure, was the Kuwait oil workers strike announced over the weekend and which resulted in up to 1.6mmb/d in production being taken offline. As of moments ago, however, according to Kuwait's Aljarida press website, the strike appears to be over.

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