Oil dips in nervous markets with U.S., China on brink…
Oil dips in nervous markets with U.S., China on brink…
Iran's oil minister has hit back at Trump over production demands
09 July, 2018, 21:15
"Stringent sanctions on Iran will take both Saudi Arabia and the oilmarket into the unknown".
As part of the retaliatory response, Beijing has threatened a 25 percent tariff on US crude imports, although it has not specified an introduction date. US crude CLc1 was down 25 cents at $73.55.
Trump's trade war with China - which like the Iran conflict was predicated on the not entirely inaccurate argument that the US was getting the short end of the stick with regards to business relations - is another example in which pundits are predicting rough road ahead, despite compelling arguments from minority voices that the dispute will eventually resolve in the Americans' favour.
Global benchmark Brent was up 14 cents, or 0.2 per cent, at 77.25 a barrel by 0113 GMT.
Weighing on prices was a rise in U.S. crude inventories C-STK-T-EIA of 1.2 million barrels in the week to June 29, to 417.88 million barrels, the U.S. Energy Administration (EIA) said on Thursday.
The analysts estimate that every million barrel per day shift in supply and demand balances would push oil prices by $17 a barrel on average.
Additionally, gasoline stockpiles fell by 1.5 million barrels for the week, but distillate stockpiles were up by 100,000 barrels for the week, according to the EIA. The stoppage at the 360,000 barrels per day (bpd) Syncrude facility in Canada has contributed to a sharp reduction in the discount for USA crude versus Brent crude over the past month.
Things to look out for at the royal christening
Prince William and Kate Middleton have opted for friends, rather than immediate family members, as is custom for royal children. The Lily Font is a silver baptismal font which was made in 1840 and has been a fixture at royal christenings since then.
Crude oil inventories at Cushing, Oklahoma, the delivery point for USA crude futures, have fallen to their lowest in 3-1/2 years, data showed last week. This means China would begin buying more oil from the Middle East or West Africa. While OPEC is facing mounting pressure from Trump to do more, America's sanctions on group members Iran and Venezuela are adding uncertainties, just as USA tariffs on Chinese goods kick in on Friday.
USA energy companies last week increased the number of rigs drilling for oil by five to 863, up 100 year-on-year, General Electric Co's (GE.N) Baker Hughes energy services firm said in its closely followed report late on Friday.
He said his refinery had cancelled USA crude orders and would switch to Middle East or West African supplies instead.
In other news, potential supply shortages continue to be the hot topic.
"Looming U.S. sanctions on Iran, however, are causing serious concerns amongst market players".
"Iran's exports are some 2.7-million barrels a day, including condensate", it noted.
The United States says it wants to reduce oil exports from Iran, the world's fifth biggest oil producer, to zero by November, in a move that will oblige other big producers such as Saudi Arabia to pump more. At this time, there may not be enough spare capacity to cover the losses from Venezuela and Libya.
The breach also led to a loss of access tokens that the service uses to access users' posts on other social networks. Another thing the hackers got were the "keys" that allow the app to show you posts from the sources you've chosen.
The diminutive winger is among the most-fouled players in the Premier League and the same has been true at the World Cup as well. Romelu Lukaku has been directly involved in 20 goals in his last 13 games for Belgium in all competitions (17 goals, 3 assists).
Joaquin Phoenix tried to do something similar all the way back in 2010 with I'm Still Here and got called on it in record time. Now, the first teaser for his new series for United States network Showtime has dropped, and it looks very promising, indeed.
A plastic-straw ban in Seattle , Starbucks' hometown, took effect on July 1 , making it the first major city to take action. A number of local governments have recently passed legislation restricting the use and distribution of plastic straws.
Residents should also make sure that their window and door screens are in good fix to prevent mosquitoes from getting inside. Empty buckets, flower pots, old tires from holding water. "That includes any place where there is standing water".
Pastrana ended the event by jumping into the fountain as hundreds of fans on the streets of Las Vegas cheered him on. After finishing with a few burnouts, Pastrana celebrated his triplicating feat by diving into the fountain.
In the years since, Prime Day has grown into a shopping extravaganza in its own right, with deep discounts on all kinds of items. Amazon is offering Prime subscriptions in the Netherlands for €3.99 for the first month rising to €5.99 in September.
Fans had descended at Clapham Junction and were clapping and cheering when the man chose to climb on top of the bus. Police have now confirmed that a woman suspected of having taken part in the vandalism has now been identified.
The verdict has been recieved unanimously with approval by the general public who feel Nirbhaya has recieved justice atlast. The sixth, a minor, was sent to a correction home and has been released after serving his probation period.
EPA Head Scott Pruitt Resigns
According to The Washington Post , Pruitt pushed to find his wife a well-paying job with a politically connected group. In fact, he was the subject of multiple congressional and oversight inquiries; he denied wrongdoing in all cases.
Police arrest principal, 5 others in rape of student
The accused threatened to make the video viral if she reported the matter to anyone in the school or at her hom, she said. According to government records, 127 minors and women were subjected to rape in the first three months of 2018.
Michael Appleton on success of England's Harry Maguire
The Leicester centre-half has impressed in Russian Federation this summer, helping England reach the World Cup quarter-finals. England's quarter-final triumph over Sweden will have at least doubled Harry Maguire's value.
UK's Brexit Secretary David Davis has resigned
Other Brexit-supporting Conservative MPs have criticized the Chequers deal, saying May's plans offered Brexit in name only . Davis' resignation was followed by that of Exiting the EU Minister Steve Baker.
Federer, Serena aim to advance on Wimbledons Manic Monday
Below is a breakdown of each draw and a look at the four players with the best chances to advance to the men's and women's finals. Thirteen Wimbledon championships between them and 49 grand slam titles overall, it was quite the historic training run.