Oil falls on trade fears after Trump tariff threat
Oil falls on trade fears after Trump tariff threat
Oil falls after Libya ports reopen, Trump tariff threat
12 July, 2018, 04:52
Paris: The OPEC cartel today warned that global trade tensions could have a negative impact on the oil market by pushing down demand for crude.
US crude inventories fell last week by 6.8 million barrels, according to the American Petroleum Institute, an industry group. US crude was down 43 cents, or 0.6 percent, at $73.68.
The market shrugged off bullish government data showing USA crude stockpiles slumped by almost 13 million barrels last week, the biggest slide in almost two years.
Brent crude fell $2.10, or 2.7 percent, to a low of $76.76 before recovering slightly to $77.20, down $1.66, by 1208 GMT. Hedge funds and other money managers with bullish wagers appeared to pare long positions, pulling back from long positions added as crude approached three and a half year highs last month, Saucer said.
Washington yesterday threatened to impose new tariffs on another Dollars 200 billion in Chinese goods and Beijing vowed to retaliate.
Oil's price fall was aided by news Tripoli-based National Oil Corp (NOC) had lifted a force majeure on four Libyan oil ports, saying production and exports from the terminals would "return to normal levels in the next few hours".
In addition, overall crude imports declined on the week, falling to 7.4 million barrels per day, off by 1.3 million bpd from the week-earlier period.
Croatia were lions, says scorer Mandzukic Russia's Denis Cheryshev opened the scoring in the 31st minute, before Andrej Kramaric equalised for Croatia. England are on the cusp of a World Cup final - and Charlie Nicholas is back with his semi-final predictions.
Gazza's message for Southgate and his England squad So, we lost the game and then on the Tuesday we were playing again, so I thought, 'Well, I'd better put the socks on". England looked drained of all inspiration and confidence and their manager Roy Hodgson quit on the spot.
Crude oil prices also fell as the USA dollar rose on Wednesday's surprisingly strong US inflation report, which increased prospects that the Federal Reserve will raise interest rates twice more this year.
With the sanctions on Iran's oil exports and its central bank about to take effect on November 4, US Secretary of State Mike Pompeo said on Tuesday that his country may grant oil sanctions waivers to countries seeking relief from the measures.
Among Iran's major oil clients, South Korea and Japan have sought waivers but China, India and Turkey have indicated they may not heed U.S. measures.
US oil prices jumped on the news, but later retreated, though were still above the day's lows.
Analysts polled by Reuters forecast on average that crude stocks fell by 4.5 million barrels, ahead of government data at 10:30 a.m. EDT on Wednesday.
"In spite of the extraordinary draw in crude oil inventories, the market is under pressure after refiners produced a record amount of gasoline this week and in conjunction with a greater than expected build in distillate inventories", said Andrew Lipow, president at Lipow Oil Associates in Houston.
The UK government has already said it's likely to approve Fox's bid for Sky after Fox satisfied concerns over media plurality. Even as 21st Century Fox shareholders prepare to look at Disney's latest bid, Comcast is getting ready to increase its offer.
For now, Kepler's team is concentrating on the downloading of data gathered during the spacecraft's most recent observation. The team will start its 19th observation campaign on August 6 if the download is successful.
The student conceded that she had been advised against going to the water alongside the marine predators prior to the incident. But while posing for the pictures a shark bit into the model's wrist and held her underwater for several seconds.
Assistant Federal Defender Tamara Crepet, listed in court records as Zhang's attorney, declined to comment on the case. Authorities arrested Zhang at the San Jose airport on Saturday after he purchased a last-minute plane ticket to China.
Recession risks have also been rising simply because of the length of time the USA economy has experienced economic expansion. The Chinese government had not officially confirmed on Friday afternoon that the retaliatory tariffs had taken effect.
Van Avermaet's teammate Tejay van Garderen finished on the same time to take second place overall with Sky's Geraint Thomas third. If they could just go as long as they could and if they didn't feel great then just commit anyway, and that's what they did".
The commissioner's office identified one of the companies, Emma's Diary, as being used by the British Labour Party, BBC said. Mail.Ru told CNN it had not been contacted by Facebook about its investigation into the misuse of user data.
In the other group, the children were breastfed AND given some solid foods such as peanuts, eggs, and wheat from 16 weeks of age. However, there was no difference in the amount of daytime sleep between the two groups, the authors noted.
But Francona hopes the other pitchers - and Miller - will benefit from his time away. "I don't care about these runs". Indians manager Terry Francona expected to see Oliver Perez run out of the bullpen. "I made the mistake".
As in April, the projection incorporates an estimate of the impact of trade uncertainty on Canadian investment and exports. In a statement, the BOC said it expects the global economy to grow by about 3.75% this year, and by and 3.5% next year.
Miami man with no arms charged with stabbing Chicago tourist
Jonathan Crenshaw, 46, was charged with aggravated battery after allegedly using his feet to stab a Chicago tourist with scissors. According to an arrest report, officers arrived at the scene to find a man lying on the ground and bleeding from his left arm.
Astros send reliever Ken Giles down to Triple-A Fresno
The right-hander allowed three runs without recording an out in Houston's 6-5, extra-inning victory against Oakland on Tuesday. After serving as the closer on the Astros' World Series-winning team a year ago, Giles has struggled mightily in 2018.
Jones snatches dramatic win in crash-filled Daytona race
That Jones Boy got it done tonight at ol' Daytona! "It's our first win and not much has felt better than this one". The wreck occurred on lap 54 after contact between Brad Keselowski and Stenhouse near the front of the pack.
England V. Croatia, Winner Will Play France
Croatia opened at 60-1 World Cup odds to win the entire tournament; entering the semis, it was still the underdog at 4-1. Look at the other teams they'll be up against. "We haven't said our last word, there is still one more game to go".
Croatia into the World Cup Final!
The victory is historic for Croatia , the second smallest nation to make the World Cup final after Uruguay, but it's no fluke. However, unlike England at the 1990 tournament, it was again third-time lucky thanks to Mario Mandzukic's 109th-minute goal .
Henderson hopes to be fit for semi-finals
The Everton keeper made a string of saves mostly against Sweden in the quarter-finals and is in contention to continue with goalkeeping duties against Croatia in the semis.