Thursday, 24 May, 2018

Rhetoric over U.S. exit from Iran deal rises amid threat of sanctions

A view of the back of Donald Trump standing with his arms outstretched facing dozens of reporters Trump Taking Opposite Approaches to Iran, North Korea: Analysis
Russell Knight | 15 May, 2018, 14:09

It follows a decision by US President Donald Trump to dump a nuclear agreement with Iran and reinstate "the highest level of economic sanctions" on Iranian oil, potentially pulling nearly 1 million barrels of oil a day from the global market.

The analysts said their target price for Brent, the global benchmark, was $90 for the second quarter of next year.

"There is a good chance the current OPEC deal will end by end-2018, if not before", said Ed Morse, head of commodities research at Citigroup Inc.in NY.

Investors are anxious that renewed sanctions on Iran, a major oil producer, could lead to supply disruptions.

Three OPEC-connected sources told Reuters that the Organization of the Petroleum Exporting Countries member states are in no rush to lay out the decision addressing the need to pump additional oil to compensate for the expected decline in Iranian exports following the USA re-imposition of harsh economic sanctions.

The Organisation of Petroleum Exporting Countries, as well as Russian Federation, have already slashed their oil production over the past 12 months to revive the commodity's futures after Brent crude prices slumped to about $US45 a barrel in June a year ago.

West Texas Intermediate crude rose 26 cents to settle at $70.96.

Sonam Kapoor is a green fairy at Cannes 2018 second appearance
Like every year, the actress arrived at the French Riviera as a brand ambassador of cosmetic brand L'Oréal. She kept her look with minimal makeup, red lips and accessorised it with a neckpiece.

Tim Chung Latest News, Photos, and Videos
Jenner later deleted the Instagram post after fans began to question why Kourtney and Khloe were left out. Caitlyn additionally included sons Burt and Brandon Jenner in her sequence of household images.

Oregon's Primary Election Is Tuesday
Andre Jacque of De Pere is running against Green Bay businessman Alex Renard for the Republican nomination to the Senate seat. Governor: There are three Republicans running for governor: Paul Mango , Scott Wagner , and Laura Ellsworth .

"OPEC, as always, stands ready to support oil market stability, together with non-OPEC oil producing nations participating in the Declaration of Cooperation", OPEC said, using its name for the pact on supply curbs. They were still at $76.62 per barrel at 0653 GMT, up $1.77, or 2.4 percent, from their last close. In addition, there are downside risks to Iranian crude oil exports.

The rally was driven by looming US sanctions against major oil producer and OPEC-member Iran which threaten to drive prices even higher over the near-term as traders prepare for an even tighter supply situation.

The main goal of the supply deal was to reduce excess oil stocks to the five-year average.

The US plans to reintroduce sanctions against Iran, which produces about 4% of world oil supplies after abandoning the agreement reached in 2015. This would essentially end the OPEC-led deal to trim production.

USA light crude CLc1 was down 66 cents at $70.70, off a 3-1/2 year high of $71.89 it hit on Thursday.

After sanctions were eased as part of the nuclear agreement, Iran ramped up production to about 3.8 million barrels a day.

Recommended

  • Will Trump turn out to be right about Iran?

    Will Trump turn out to be right about Iran?

    Trump, who said he will restore US sanctions on Iran , has now fulfilled another of his election promises on foreign relations. Russian Foreign Minister Sergei Lavrov (left) and his Iranian counterpart Mohammad Javad Zarif met last month in Moscow .
    CBI names ex-PNB CEO Usha Ananthasubramanian in Nirav Modi case

    CBI names ex-PNB CEO Usha Ananthasubramanian in Nirav Modi case

    It has been revealed that these officials did not follow circulars issued by the central bank on the SWIFT control system in 2016. He said the whole system at PNB has failed and the top management has to take responsibility given the magnitude of the fraud.
    Al-Azhar condemns deadly churches attack in Indonesia

    Al-Azhar condemns deadly churches attack in Indonesia

    Television footage appeared to show a person on a motorcycle driving into the grounds of a church before a bomb was detonated. This bombing comes just a day after a deadly wave of attacks on churches in the city which was staged by another family.
  • MoH assures Rwandans following Ebola outbreak

    MoH assures Rwandans following Ebola outbreak

    The organisation will administer the vaccination to healthcare workers and anyone else who has been potentially exposed to Ebola. He said World Health Organization has an agreement with DRC including all the necessary registration and import permits.
    Ohtani dominant in 6th start as Angels beat Twins 2-1

    Ohtani dominant in 6th start as Angels beat Twins 2-1

    Cozart went to third on a wild pitch, and after a walk to Mike Trout , scored when Justin Upton grounded into a force play. One out later, Garver scored on a single by Gregorio Petit, who played for the Angels two seasons ago, to make it 5-3.
    Cliff Bleszinski Shuts Down Boss Key, Maker of LawBreakers, Radical Heights

    Cliff Bleszinski Shuts Down Boss Key, Maker of LawBreakers, Radical Heights

    He also thanks those who supported himself and Bosskey Productions as well as everyone who worked with him in recent years. For now, Radical Heights servers will stay online, although they will undoubtedly close down before too long.
  • Navjot Singh Sidhu acquitted in decades-old road rage case

    Navjot Singh Sidhu acquitted in decades-old road rage case

    Sidhu, who joined the Indian National Congress in 2017, was convicted under Section 323 (causing hurt) of the India Penal Code. Reversing the High Court ruling, the apex court acquitted him of the serious charge of culpable homicide in the 1988 case.
    BTG (BTG) Stock Rating Reaffirmed by Peel Hunt

    BTG (BTG) Stock Rating Reaffirmed by Peel Hunt

    Narrowing in a bit closer, the 5 month price index is 0.99527, the 3 month is 1.09221, and the 1 month is now 1.07407. RDI is a FTSE 250 UK Real Estate Investment Trust committed to becoming the UK's leading income focused REIT.
    YouTube TV app gaining voice remote feature

    YouTube TV app gaining voice remote feature

    Search giant Google has started rolling out a new feature for users who use YouTube TV on their Android devices. You don't need an app update, but you also can't access voice remote yet unless you are chosen by the Google.
  • Gov. Rauner seeks to reinstate death penalty

    Gov. Rauner seeks to reinstate death penalty

    Death penalty murder suspects would have to be convicted by juries "beyond all doubt" - not just 'beyond a reasonable doubt'. Bruce Rauner proposed Monday, it might not have much of an effect on the strategy of criminal defense attorneys.
    New US drug laws might raise Indian medicines prices

    New US drug laws might raise Indian medicines prices

    The proposal, a 44-page plan titled, American Patients First , promises to make generic drugs and biosimilars more accessible. He noted that he'll work with Congress in the coming weeks to pass legislation to address the high prices of medicines.
    Tiger Woods shoots 65, his lowest score ever at Players

    Tiger Woods shoots 65, his lowest score ever at Players

    Woods' playing partner on Sunday, Jordan Spieth , certainly expects to see the 42-year-old add to his haul of 79 PGA Tour titles. There was a moment Sunday when Simpson bogeyed and Woods was staring down a makeable birdie putt.

Netanyahu praises Trump after United States opens embassy in Jerusalem Netanyahu praises Trump after United States  opens embassy in Jerusalem The United Nations General Assembly rejected by a huge majority the U.S. recognition of Jerusalem as Israel's capital. In a video, the president called moving the USA embassy out of Tel Aviv "a long time coming".

10 children taken from Fairfield home, dad charged with torture 10 children taken from Fairfield home, dad charged with torture Meanwhile, the children's mother, Ina Rogers, a 30-year-old Fairfield resident, has been booked on child neglect charges. All 10 children were initially taken into protective custody by Solano County Child Welfare Services.

"This Is America" Debuts at Number On on Billboard Hot 100 He also stars as Lando Calrissian in the upcoming " Star Wars " film, " Solo: A Star Wars Story". The song, fueled by its socially-conscious video, could dethrone Drake's "Nice for What".

Mother Pulls Gun from Handbag And Kills Armed Robber Outside School Mother Pulls Gun from Handbag And Kills Armed Robber Outside School As he was lying on the ground, she walked over and kicked the gun away before using her foot to place him in a face-down stance. A spokesman for the force she works for said: "These criminals lose control easily".

Schools increasingly seek mental health support for pupils Schools increasingly seek mental health support for pupils The Minding Your Head website also includes a directory of mental health services in Northern Ireland. PAPYRUS : Children and parents can contact HOPELineUK for advice and support.

Google announces Google One - premium cloud storage with benefits Google announces Google One - premium cloud storage with benefits The consumer version of Google Drive is getting a makeover, with a new name, new benefits and cheaper prices for data storage. On Monday, the company said its moving paid customers of Google Drive over to an upcoming platform called Google One .

April retail inflation quickens to 4.58% April retail inflation quickens to 4.58% ICRA's principal economist Aditi Nayar said WPI inflation is expected to continue to rise over the remainder of this quarter. Petrol prices increased by 9.45% over April previous year , while liquefied petroleum gas became cheaper by 11.73%.

WWE Announces Ronda Rousey's Opponent For Money In The Bank PPV WWE Announces Ronda Rousey's Opponent For Money In The Bank PPV Powell's POV: I guess this also means that Rousey and Jax won't be appearing in person at today's Raw television taping in London. She's one of a kind, so there definitely has to be an alternation to my regimen and I'm looking forward to it.

NY killer nanny sentenced to life in prison NY  killer nanny sentenced to life in prison Prosecutors argued that Ortega was jealous of Marina Krim's life and lashed out in the worst way possible - at her children. At trial, Ortega's lawyers argued that the woman had been living in a state of depression and had disorders in the psyche.

Hawaii volcano warning as poisonous gas spews from lava Hawaii volcano warning as poisonous gas spews from lava Overall, almost 2,000 people have been told to evacuate since May 3, and lava has destroyed more than two dozen homes. For those who want to see a volcano in action, the lure of Hawaii's Big Island may be getting too much to resist.

Cauvery row: Centre submits draft scheme in Supreme Court Cauvery row: Centre submits draft scheme in Supreme Court The scheme was the only relief in the judgment for the state, which reduced its water share from to 177.25 tmc ft from 192 tmc ft. The bench, while asking the states to respond to the scheme, posted the matter for further hearing on May 16.

IPhone explodes in Los Vegas store next to employee IPhone explodes in Los Vegas store next to employee The incident didn't happen at his shop, but Tartaglio says while iPhone battery explosions are rare they aren't unheard of. Due to the fact that the phone was at a fix shop, there is a strong chance, its batteries were already damaged.

Arsenal boss Arsene Wenger forecasts European League and 16 team Premier League Arsenal boss Arsene Wenger forecasts European League and 16 team Premier League "I would say it is a county with a special culture", Wenger responded when asked what it was that draws him to the Asian nation. That's what you want and after that you want the style of play, as the manager has an influence on the way you play football.

Watch a trailer for Spike Lee's BlacKkKlansman, produced by Jordan Peele Watch a trailer for Spike Lee's BlacKkKlansman, produced by Jordan Peele The first trailer for Spike Lee's provocative drama BlacKkKlansman has arrived. And based on some early reactions from Cannes , it just might be.

WHO urges global ban on trans fats WHO urges global ban on trans fats The initiative, called REPLACE , offers a "step-by-step" guide for nations to follow to remove trans fat from their diets. It estimated that every year, trans-fat intake leads to more than 500,000 deaths of people from cardiovascular diseases.