Gulf of Mexico operators have shut 602,715 barrels a day of oil production ahead of the storm, the Bureau of Safety and Environmental Enforcement said in a notice.
Meanwhile, Iran's alleged attempt to block a British-owned tanker heightened tensions in West Asia in the wake of attacks on tankers and the downing of a USA drone by Iran in June.
U.S. crude oil inventories decreased during the week ending July 5, the U.S. Energy Information Administration said in a report on Wednesday. A fourth weekly draw in American stockpiles and signs that the Federal Reserve is prepared to cut interest rates also supported prices.
USA output is rising again after a brief drop from record levels, according to the EIA.
U.S. West Texas Intermediate crude futures were up 25 cents at $60.68 a barrel, having touched their highest since May 23 at $60.94.
Oil's latest spike came after the Organization of Petroleum Exporting Countries, which pumps 40% of the world's oil, estimated in its July report released on Thursday that it will be producing about 560,000 barrels per day more than needed by next year, no thanks to the continued surge in US shale oil output. The contract closed at the highest level since May 22 on Wednesday. "The overall situation points to further rising oil prices in the short term", a report by Commerzbank AG said.
Brent crude futures were up $1.82 at $65.98, but below a session high of $66.00. The global benchmark crude traded at a US$6.58 premium to WTI for the same month.
"The break above US$60 is likely to attract some additional short-term momentum, but if the storm passes in the Gulf of Mexico we could see that fade away as the focus returns to demand worries", said Ole Sloth Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. Royal Dutch Shell Plc and BP have also evacuated workers. A day after Iran warned Britain would face "consequences" over the seizure of an Iranian oil tanker, three Iranian vessels tried to block passage of a British ship run by BP through the Strait of Hormuz, the British government said.
The Energy Info Administration reported Wednesday that US indecent stockpiles fell by 9.5 million barrels closing week to the bottom in almost three months.
At current OPEC output levels of 30 million bpd, the IEA predicted that global oil stocks could rise by 136 million barrels by the end of the first quarter of 2020.
Area 51 is a mysterious place which is surrounded by numerous theories and myths related to aliens and UFOs, reports CNN . I just thought it would be amusing and get me some thumbsy uppies on the internet.
Patrick High School in Elizabeth, and Duke University. "35 was chosen in honor of someone very near and dear to me". Durant wrote in the statement that: "35 took my family and me from Seat Pleasant, MD and showed us the world".
Mueller's offer to delay comes as House Democrats on the Judiciary panel pressed their leaders for more time to question Mueller . Under the current agreement, Mueller would appear for two hours each before the Judiciary and Intelligence Committees.
The president said that Acosta's deputy, Patrick Pizzella , will take the reins at the department's acting secretary. Announcing Acosta's resignation, he said: "Yes, I did have a falling out a long time ago".
Said House majority leader Steny Hoyer, Democrat of Maryland, "I think all staffers ought to allow their members to speak". I'm not anxious about me", said Pressley to the NY Post . "We respect the value of every member of our caucus", she said.
The licensed crypto exchange platform has been hacked 32 million United States dollars worth of crypto assets. When Coincheck was hacked in January 2018, more than $530 million worth of cryptocurrencies were stolen.
Also, the album features a new version of " Hakuna Matata " which has been crooned by Billy Eichner , Seth Rogen , and JD McCrary. American actor Donald Glover knows what it is like to work with "powerhouse" pop-singer Beyonce and called it a "big deal".
New Orleans Braces as Storm Barry Nears
It was expected to make landfall along the Louisiana coast - near Morgan City - on Friday night or early Saturday. New Orleans' network of drainage pumps, underground pipes and canals were overwhelmed earlier this week by rain.
Trump Confirms Immigration Raids Set For The Weekend
Pelosi said at her weekly press conference . "These families are hardworking members of our communities and our country". Plans for the raids in June drew widespread scorn among immigration rights advocates and mayors in the impacted cities.
China imports from U.S. plunge in June amid tariff war
China's trade with the United States plunged last month as a tariff war battered exporters on both sides of the Pacific Ocean. That left China with a trade surplus of $50.98bn last month, compared with a $41.66bn surplus in May.
Listen to Ed Sheeran collaborate with Amazon's Alexa
The song comes from Sheeran's new album No.6 Collaborations Project, which he released in the early hours of this morning. The Sun reported the pair Wednesday before Christmas in front of about 40 friends and family in Suffolk, England.
Executive Order on Advancing American Kidney Health
Amit Tevar, a transplant surgeon at the University of Pittsburgh Medical Center, who praised the administration's initiatives. The changes won't happen overnight - some of the initiatives will require new government regulations.
SAfrica World Cup winner James Small dies
He scored 20 tries, the last of which at the time broke South Africa's Test record previously set by Danie Gerber. Small, the so-called bad boy of rugby, made his Test debut for the Springboks in 1992 against New Zealand.