API Reports Seventh Large Crude Draw In Seven Weeks
18 January, 2018, 14:21 | Author: Sheri Evans
The high prices have been accompanied by money managers raising bullish positions in crude futures and options by record amounts, and this prompted Norbert Ruecker, head of commodity research at Julius Baer, to worry that "hedge fund expectations for further rising prices have reached excessive levels". As at yesterday evening, Brent crude oil price settled at N69.87 per barrel while the West Texas Intermediate (WTI) sold at N64.30 per barrel.The Secretary General, Organisation of the Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, also identified other factors contributing to the recently gathered pace of rebalancing.
But Rashidi believes that demand is still too high to suggest that more USA exports could hurt OPEC members' share of the market.
By 4:37pm EST, the WTI benchmark was trading up 0.27% on the day to $63.90 while Brent was trading up 0.19% on the day at $69.28.
Google unveils $30bn infrastructure investment plans
The HK-G, an acronym for Hong Kong-Guam, is another consortium cable interconnecting major subsea communication hubs in Asia. The Google Cloud Platform (GCP) region, which is now live in the country, will encourage more local firms to adopt Cloud.
After long years of punishingly low oil prices, the global oil market is moving closer to reaching a healthy balance between supply and demand, OPEC said on Thursday.
Prices. rallied on the back of noticeable de-stocking of crude inventories, said Fawad Razaqzada, market analyst at future brokerage Forex.com. The rise in Brent crude oil futures prices likely reflected global oil inventory draws that were estimated to be 0.3 million barrels per day (bpd) during the fourth quarter of 2017.Crude oil price is gradually moving to N70 a barrel.
The tighter supplies come on the back of supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and Russian Federation, who started to withhold production in January a year ago.
The upside is now limited for oil prices. The output cuts that began a year ago in a bid to remove a global oil glut have pushed up the price of benchmark Brent crude by more than 50 percent since mid-2017 to hit United States dollars 70 a barrel last week for the first time since December 2014.
Goldman Sachs is not ready to raise its $62 target on Brent and $57.50 forecast for USA crude in 2018, but says there's a growing risk that global inventories will fall too quickly and push up prices.
Gasoline stocks rose by 1.8 million barrels while distillate fuels stockpiles, which include diesel and heating oil, climbed by 609,000 barrels, the API data showed. The U.S. government's weekly supply data is due on Thursday.
Police Provide Update in Greyhound Bus Incident
Sheriff Schmaling says Vargas-Rosas continued to make threats to kill law enforcement during his transport to jail. The situation led police to chase the bus, and then stop it with spike strips on the IL side of the state line.
Interior elbow room is up by 68mm in the front - handy if the Christmas period has left you feeling a little wider than you did. Mercedes also incorporated the new 12.3-inch Comand display that serves as both the gauge cluster and the infotainment display.
Veteran Israeli Ambassador Yoram Ettinger has been a regular supporter of Trump's Middle East policies. In effect, he is asking them to act as mediators to accomplish changes that Iran is refusing to make.
Don't blindly invest in something without doing proper and thorough research, and never invest what you can't afford to lose. Other currencies like Ripple , Ethereum , BitcoinCash and Litecoin have experienced steep falls.
The company is also reviving Steven Spielberg's anthology series " Amazing Stories ", with Bryan Fuller serving as showrunner. BRINGING Big Little Lies back to the small screen has an eye-watering price-tag attached to it.
The program, also known as DACA, provides protections and work permits to individuals who entered the USA illegally as children. The DOJ has appealed a lower court's decision in The Regents of the University of California and Janet Napolitano v.
Ivanovic's death raises questions over global peacekeeping in the region, an area critics say is unable to govern organized crime. Prominent Kosovo Serb politician Oliver Ivanović was killed in a drive-by shooting outside his party headquarters Tuesday.
This will be a huge increase from the $4.5 billion the automaker announced it would invest by 2020 in December 2015. Ford is to bring a high-performance electric utility vehicle to market by 2020. "For us, it's not just compliance".
Edmund Allenby in the 1918 Battle of Haifa; as well as a the monument where Mahatma Gandhi's remains are located. He is expected to visit the Teen Murti Memorial honoring Indian soldiers who fought under British Gen.
Four Officers Shot Overnight in SC
Authorities did not release the names of the injured police officer and sheriff's deputies, nor their injuries or conditions. Multiple agencies then began "actively looking for the suspect" and issued emergency alerts to area residents, Faris said.
Australian Open- Day 1 Highlights
It was her eighth successive defeat since her maiden grand slam triumph. "I didn't play so bad, I wasn't missing every shot". Stephens was also forced to withdraw from the Brisbane International because of a right knee injury.
Chelsea FC draw 0-0 at home vs Leicester City
Given the speculation surrounding their manager, it was intriguing to note the response of Chelsea fans. As for Fabregas, the Spaniard makes Chelsea tick and without him they lacked creativity in midfield.
Honda Accord named vehicle of the Year
The brand sold only 10,523 Navigators a year ago , far behind competitors in the segment such as the Cadillac Escalade. Today the highly coveted North American Car, Utility and Truck of the year awards were announced .
Treasury releases withholding tables for new tax law
Notice 1036 also said that employers could withhold on supplemental wages of up to $1 million at a flat rate of 22 percent. There are also new limits on the mortgage interest deduction, and the child tax credit was expanded.