Oil slips from four-month highs on economic concerns
Oil slips from four-month highs on economic concerns
Oil prices near $80 a barrel - but could $100 oil be on the cards?
14 September, 2018, 01:48
USA crude stocks fell by 8.6 million barrels in the week to September 7 to 395.9 million, the American Petroleum Institute (API) said on Tuesday. Yesterday's close above the key resistance line paves the way for a test of the $80 barrel mark, before a retest of the YTD high.
This afternoon the price of Brent was $78.07.
"Markets. are expecting substantial price pressure as Iran sanctions loom", said Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore.
USA sanctions on Iran's energy industry, which come into force in November, have already cut supply back to two-year lows, while falling Venezuelan output and unplanned outages elsewhere will also keep the balance between supply and demand tight, the IEA said.
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South Korea has chose to comply with US demands to cut oil imports from Iran to zero, becoming the first to do so out of the top three buyers. South Korea says that it continues talks with the United States to see if it can obtain waiver.
The Economic Times (ET), an Indian daily said Iran now exports about 2 million barrels a day which is already 28% less than what they used to export in April.
Two supertankers left Iran's oil terminal Kharg Island en route to China late on Wednesday-the first Iranian oil shipment to its single biggest oil customer in 18 days, which was the longest gap between crude-laden tankers departing for China in three years, according to tanker-tracking data compiled by Bloomberg.
Traders said this pulled wide open the discount of U.S. WTI crude versus Brent to around $10 per barrel, the biggest since June.
US fighter jets intercept two Russian bombers near Alaska
The Russian military formation included two Tu-95 "Bear" bombers and a pair of Su-35 "Flanker" fighter jets, officials said. A group of Russian nuclear-capable aircraft ventured near Alaska on september 11 before being intercepted by U.S.
The Wall Street Journal said OPEC's total oil production climbed last month, in a sign the oil cartel is sticking with a decision to begin pumping out more barrels of crude this summer after more than a year of holding back output.
The International Energy Agency said on Thursday that although the oil market was tightening at the moment and world oil demand would soon reach 100 million barrels per day (bpd), global economic risks were mounting.
"Iran is increasingly becoming the preoccupation of the crude market", said consultants JBC Energy. The IEA said crude output fell in August by 150,000 bpd from July to a 25-month low of 3.63 million bpd, while exports fell by 280,000 bpd to 1.9 million bpd, from a peak of around 2.5 million bpd in May.
That month Russian Federation produced 11.247 million bpd, a post-Soviet Union record-high.
The vehicle will be built in both Chongqing, China, and Saarlouis, Germany, a Ford spokesman said in an interview on Monday. Exports to the United States in August rose 13.4 per cent to $44.4 billion, ticking up from July's 13.3 per cent growth.
He has also scored more worldwide goals than both Messi and Ronaldo with nine strikes for Les Bleus in 24 games. He is closely followed by Bayern Munich star Robert Lewandowski on 90, before the list jumps down into the 80s.
He said that the EU's relations with Africa must no longer be seen "from the sole perspective of development aid". Juncker expressed his disapproval of those who pursued unilateral actions, waging trade and currency wars.
Theresa May told the Commons last week that they were officers from Russia's military intelligence service, known as the GRU. The pair said they had travelled to Europe quite a lot for holidays and for business.
Modern man, known as homo sapiens , is first known to have appeared more than 315,000 years ago in what is now Africa. Blombos Cave is situated 50 m from the Indian Ocean, elevated at 35 m above sea level and 300 km east of Cape Town.
One trusted computer model, the European simulation, predicted more than 45 inches (115 centimeters) in parts of North Carolina. Typically, local governments in North Carolina make the call on evacuations.
Several million people could lose power by the time Florence sloshes its way through the state. "If it's my time to go, I'll go". If the storm makes landfall as a Category 2 , these winds will be damaging, sustained at up to 160km/h or so with higher gusts.
Kelly Ormerod, John and Susan Cooper's daughter, told Sky News on Wednesday she doesn't believe her parents died from E. coli . Dr Rania Al-Mashat, Egypt's minister of tourism, said the health and safety of tourists to Egypt was "paramount".
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How to sign up for Verizon’s 5G home internet service
Verizon is launching what is says is the world's first and only commercial 5G Ultra Wideband Network from October 1. Taxes and fees are included in that rate, and there's no annual contract. "There are no additional hardware costs".
Hurricane Florence: Residents told to 'heed the warnings'
Rather than pushing up toward western Virginia, the storm's center is now predicted to move across the middle of SC . Almost 1000 prisoners in SC will not be moved from their cells, despite a mandatory evacuation order in the area.
Lexus rearview mirror cameras will debut in October
The Digital Outer Mirror will make its debut on the new Lexus ES in Japan, where it will go on sale in late October. Lexus claims that the system results not only in improved visibility, but also in reduced wind noise.
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We want to make sure everybody knows that we are out. "It's going to be bad", said Woody White, a county commissioner. More than 1 million people have been ordered to evacuate the coastlines of the Carolinas and Virginia.
In Australia found a unique gold nuggets
That's more than 560 pounds (255kg), or $10 million of gold in just four days, if you were to just cash it in today. The gold was discovered by miner Henry Dole , who told the ABC it was like hitting the " mother lode ".
House GOP moves to lock in tax cuts
Similarly, 85% of Republicans, 55% of independents and 43% of Democrats say the writer of the op-ed ought to identify themselves. Carter also praised Trump for meeting with North Korean leader Kim Jong Un.