Sunday, 20 May, 2018

Oil extends gains as United States stockpiles decline

Brent Crude Oil Weekly April Brent Crude Oil
Russell Knight | 13 January, 2018, 08:37

Oil prices have hit a three-year high, reaching almost US$70 a barrel, signaling a strengthening outlook for the sector in 2018. Earlier this week, West Texas Intermediate (WTI) reached US$63.7 per barrel, its highest level since December 2014.

The and allies including Russian Federation are keeping supply limits in place in 2018, a second year of restraint, to reduce a price-denting glut of oil held in inventories.

That follows the global benchmark's rally to $70/bbl on Thursday amid a steady run of diminishing USA crude stockpiles and healthy demand.

"Oil prices have been undeniably bullish this week despite the lingering concerns over the current bull rally running out of steam", said Lukman Otunuga, research analyst at FXTM. The economic analysts are looking for import prices to rise 0.4% compared to 0.7% in November. "It is premature to expect further upside to be sustainable, at least until the market gains a better grasp of the pace of US production growth".

According to online source Finanz, the USA crude oil inventories shrank over the past week, which pushed oil prices higher.

Crude oil production from the United States is expected to increase more than in any other country.

The market has also been buoyed by production curbs led by the Organisation of Petroleum Exporting Countries (Opec) and Russian Federation, which are set to last until the end of 2018.

Oil prices have risen above Dollars 70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year.

FDA putting new limits on cold medicine for children
Some codeine cough medicines are available OTC in a few states, and FDA is also considering regulatory action for these products. For those children in whom cough treatment is necessary, alternative medicines are available.

Stung by Wolff book, Trump calls for stronger US libel laws
And as the 45th President celebrates his first year in office, we take at his funniest pics from the past 365 days. Now we have Michael Wolff's book, " Fire and Fury ", in which the president's own staff members question Mr.

Trump says beating Oprah will be 'lots of fun'
Oprah Winfrey must have been pleased with the talk after her speech at the Golden Globes awards ceremony the other night.

If prices rise to the lower $50 a barrel range, the number of profitable well sites will grow, causing shale oil production to accelerate.

Brent crude futures were at $69.15 a barrel, 33 cents, or 0.5 per cent, above their last close.

OPEC's aim is to ensure the stabilisation of oil markets.

Data from RAC Fuel Watch shows that the cost of a barrel was last over $70 on 3 December 2014 when a price of $70.22 was recorded.

If US shale oil producers do fill the void and bring some balance to the market, this would be good news for consumers. The organization reported that oil reserves in the US for the week ended on January 5, decreased by 11.19 million barrels, which is the strongest decline since September 2016.

The OPEC doesn't seem to be interested in oil prices above $60/b.

In a 10 January report the bank said "Oil prices are become increasingly detached from the fundamental data and risk overshooting". U.S. distillate stocks jumped 8.899 million barrels the week ending December 29 to 138.8 million barrels.

What's the Fair Price of Crude Oil Today?

Recommended

This Dark Souls Trilogy box for PS4 will make your wallet weep This Dark Souls Trilogy box for PS4 will make your wallet weep It seems that despite listings saying quite the opposite, Dark Souls Remastered will not feature HDR on PS4 Pro after all. According to Forbes , Dark Souls: Remastered will have a similar password matchmaking system that Dark Souls III had.

CDC: Reported flu cases are rising CDC: Reported flu cases are rising For people who get the flu, he said, the best thing to do is to go see a health professional who can prescribe medication to help. Lara Anton, Press Officer, Texas Department of State Health Services provided information on the incident of flu statewide.

Trump Private Lawyer Sues Buzzfeed Over Russian Dossier Trump Private Lawyer Sues Buzzfeed Over Russian Dossier Buzzfeed published the dossier in its entirety almost a year ago, which it said it obtained from a source it didn't identify. Fusion GPS similarly faces several lawsuits related to its work on the dossier.

Salman Yusuf Khan choreographs 'Bigg Boss 11' finale acts Salman Yusuf Khan choreographs 'Bigg Boss 11' finale acts But, when Puneesh sees the argument, he tells Vikas that he shouldn't have brought something like this in the game at all. Shilpa, on the other hand, talks matter of factly about Hina and says that Hina does't know how to what about people.

'The Commuter' - Liam Neeson continues to use his 'special set of skills' 'The Commuter' - Liam Neeson continues to use his 'special set of skills' Long before the train at the center of " The Commuter " physically derails, its storyline and plausibility sputter out of control. Liam Neeson has built his late career around being your dad, or rather, the power fantasy that your dad wishes he were.

Nisa Investment Advisors LLC Increases Stake in NVIDIA Corporation (NVDA) Nisa Investment Advisors LLC Increases Stake in NVIDIA Corporation (NVDA) In related news, CFO Colette Kress sold 171 shares of the stock in a transaction that occurred on Thursday, December 14th. It dived, as 19 investors sold MHO shares while 46 reduced holdings. 77 funds opened positions while 141 raised stakes.

Bayer Leverkusen v Bayern Munich: Watch Stream Of Leon Bailey Bayer Leverkusen v Bayern Munich: Watch Stream Of Leon Bailey With Mats Hummels out with a groin injury, Niklas Suele partnered Jerome Boateng at centre-back. This time Vidal saw a header blocked after Arjen Robben's corner from the right.

Saudi Arabia allows women to attend soccer match Saudi Arabia allows women to attend soccer match Saudi Arabia, which was the only country in the world to forbid female drivers, a year ago also allowed women to drive in the country.

Edgar Ray Killen, convicted in 'Mississippi Burning' killings, dead at 92 Edgar Ray Killen, convicted in 'Mississippi Burning' killings, dead at 92 The slayings were among the most notorious of the civil rights era and were the subject of the 1988 movie " Mississippi Burning ". A MS judge attempted to dismiss the charges against most of the defendants, but the Supreme Court later reversed the decision.

Predictions for Every NFL Divisional Playoff Game Predictions for Every NFL Divisional Playoff Game Two turnovers, a pair of sacks, six tackles for loss and seven quarterback hurries is plenty of disruption to win a messy game. The Wentz-less Birds will have a tough task this Saturday, as the Falcons are one of the hottest teams around the league.

Carrie Underwood is a 'Champion' in new Ludacris collab for Super Bowl Carrie Underwood is a 'Champion' in new Ludacris collab for Super Bowl In addition to the Super Bowl, the song will also be used during the Winter Olympic Games telecast, beginning in February.

Sales tax collection case headed to Supreme Court Sales tax collection case headed to Supreme Court The high court in September put both lower court rulings that had invalidated the Republican-drawn districts on hold in September. And they contend that it should be up to Congress, not the courts, to remedy any problems that local governments say they have.

Parents sue for girl, 11, to use medical marijuana at… Parents sue for girl, 11, to use medical marijuana at… They said the state's current medical marijuana laws do not meet reality. "And now she can think clearer and she's more alert". District Judge John Blakey granted the school district an exemption to administer medical marijuana to her if necessary.

Anti-CVS Caremark Corp Institutional Investors Sentiment Runs Low in Q3 2017 It turned negative, as 48 investors sold V shares while 617 reduced holdings. 73 funds opened positions while 223 raised stakes. It is negative, as 60 investors sold CVS shares while 571 reduced holdings. 88 funds opened positions while 466 raised stakes.

Trump Says Won't Sign Immigration Bill Without Funding for Border Wall We're going to do DACA, and then we can start immediately on the phase two, which would be comprehensive, ' the president said. Kevin McCarthy then reminded the president: 'Mr. "So we're plowing ahead like we discussed yesterday at the White House".