Trump administration pressure on Tehran forces Iran to start selling discounted oil
15 August, 2018, 20:56
"Everything is weakening, but from a pretty elevated level", said Jeff Brown, president of energy consultancy FGE.
While demand is deteriorating on the back of global trade tensions, slowing economic growth as well as liquidity concerns and has led to profit booking in the energy counter; on the other hand, a strong dollar and over-supply concerns are making a further dent on prices.
Iran is the third-largest producer in the Organisation of the Petroleum Exporting Countries, behind Saudi Arabia and Iraq, pumping 3.65 million bpd in July, media data show.
Crude prices have dipped in recent weeks, reflecting less worry about supplies following increased output by Russian Federation and several OPEC nations, the International Energy Agency said in its latest monthly report about the global oil market. This was said to be due to weaker-than-expected oil demand data from Latin America and the Middle East in the second quarter.
Gasoline futures fell 0.5 percent to $2.0293 a gallon.
World trade volume growth peaked in January, and since then has almost halved to less than 3 percent by May, according to the Netherlands Bureau for Economic Policy Analysis. In Turkey, an economy that's larger than the Netherlands or Taiwan, bonds and stocks dropped along with the currency as investor confidence plunged.
Around two-thirds of USA oil producers failed to balance costs in the second quarter, despite crude oil prices rising above $70 per barrel, the Wall Street reports.
"The direct impact on global demand for oil is negligible", Fritsch said.
The overall demand for Opec's crude is now expected to be 32.9 million barrels a day this year, which is around 600,000 barrels a day lower than in 2017. "Perceptions about emerging-market demand are also going to be negative for the energy complex".
But the increases matter little when weighed against China's tanker imports, which fell from more than 8 million bpd during January and June to about 7.3 million bpd in July. There were "a lot of fears about the Iran volumes coming off and US supply, but none of those fears have played out". It's also some way off a record of more than 20 million bpd from April 2016.
Escalating trade disputes between the US, China and other countries have dimmed the outlook for economic growth and boosted the US dollar, making oil more expensive for consumers using other currencies.
Because of the conflicting factors in oil markets, McKenna said "I'm staying out of oil at the moment".
Another child drank juice, only to wake up the next morning bleeding from his rectum and unable to remember what had happened. That means more lawsuits and possibly criminal charges for bishops who might be accused of negligence and even cover-ups.
Opened in 1967, the bridge is part of the A10 motorway connecting Genoa to France and is named after designer Riccardo Morandi. Some of the wreckage landed in a dry riverbed that could flood when the rainy season resumes in a few weeks.
Omarosa told CBS that she found it "ironic" that such high-level campaign and White House staffers were reacting in such a manner. When asked if he felt betrayed by Omarosa by a New York Times reporter on Saturday, Trump called his former aide a " lowlife ".
Omarosa told CBS that she found it "ironic" that such high-level campaign and White House staffers were reacting in such a manner. Omarosa had Zero credibility with the Media (they didn't want interviews) when she worked in the White House.
NBC News aired the new audio but cautioned that the organization does not know what was said before or after the segment provided. It was unclear how Manigault Newman, if her story is true, managed to get a cell phone into the Situation Room.
Among the products are cars, rice, some alcohol and tobacco products and some cosmetic products like sun creams. Meanwhile, Turkey has also decided reject a US appeal calling for the release of an imprisoned American pastor .
Queen , Nicki's fourth studio album, was released August 10, just one week ahead of the album's original August 17 release date. Colbert then bowed down to Nicki , who asked, "Are you married?" while Colbert hid his wedding ring behind the desk.
The government is planning to turn the PIF into a $2 trillion powerhouse to help diversify the kingdom's oil-dependent economy. As a result, PIF itself chose to buy around $2 billion in Tesla shares, reportedly with the help of an investment bank.
In 1989, her brother and manager Cecil passed away from lung cancer, one year after her sister Carolyn died of breast cancer. Carey, who considers Franklin one of her biggest influences, wrote on Twitter that she is "praying for the Queen of Soul".
The response from the White House was stinging. "They were not offering me a real job", Manigault Newman said on NBC . With new prey in her talons, Manigault Newman gave voice to numerous problems that have roiled the West Wing.
Developer Certain Affinity partnered with id Software the first time around to help work on the multiplayer portion of the game. Hugo Martin, the game's creative director, promised double the enemies in the game as there were in the 2016 predecessor.
England star Ben Stokes acquitted of affray
He said his memory of the night was "incomplete" due to his head injury. "They just want to get in with their lives". Stokes went out celebrating after beating the West Indies in a match in Bristol on September 24.
Turkey to boycott U.S. electronic goods: Erdogan
Erdogan last week renewed a call for Turks to convert their dollars into the Turkish lira, to help underwite the currency's value. The state-run Anadolu Agency said the finance chief would address hundreds of foreign investors on Thursday in a teleconference.
Tesla CEO Musk accused in lawsuit of defrauding shareholders
July 1, 2018 - Tesla factory workers produce more than 5,000 Model 3 sedans during the last week of June, hitting Musk's goal. The worst affected segment appears to be the short-sellers in the market who sell high and do the repurchase later.
Pixel 3 XL Making China-Made Notch Looking Like Gems
Photos and video of what appears to be a production unit Google Pixel 3 XL have been leaked online, reports AndroidPolice . The Android 9 Pie release is the proof in the proverbial pudding that Android as an operating system has hit its stride.
Economic turmoil hits Turkey, US bank stocks react
President Donald Trump announced tariff increases on Turkish metals as tensions between Turkey and the United States escalated. Washington "must give up the misguided notion that our relationship can be asymmetrical", he said in the opinion piece.
Here's how and when to watch the Perseid meteor shower
Yet, light pollution in towns and cities can prevent optimum viewing conditions, and reduce the visibility of the shooting stars. And if your view is obscured by weather or clouds this weekend, the Perseids are visible for several nights afterward.
Tiger electrifies Bellerive with final-round 64 at PGA
Brooks Koepka celebrates with the Wanamaker Trophy after winning the PGA Championship golf tournament at Bellerive Country Club. Tiger Woods staked his claim for one of the wildcard picks by finishing second to Koepka at the US PGA Championship on Sunday.
Erdogan remains defiant despite Turkish Lira's spiral
President Donald Trump says the United States has made a decision to increase tariff rates on Turkish steel and aluminum . Erdogan on Thursday portrayed the currency drop as a "campaign" to harm Turkey and called on the people not to worry.