vegassports-odds.com
vegassports-odds.com June 18, 2018


Oil prices slip as production rises

13 June 2018, 11:17 | Melvin Schneider

Oil prices drop as supplies increase

Futures in New York dropped as much as 1.3% after the American Petroleum Institute was said to report nationwide crude inventories rose last week

Brent crude LCOc1 was up 87 cents, or over 1 percent, at $76.75 a barrel by 1:38 p.m. EDT (1938 GMT).

U.S. President Donald Trump and Iran exchanged sharp words over oil prices, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. USA light crude CLc1 was up 40 cents, or 0.6 percent, at $66.76 a barrel. United States light crude was 40 cents lower at $65.96. Crude inventories fell by 4.1 million barrels in the week to June 8, exceeding analysts' expectations for a decrease of 2.7 million barrels.

"The demand metrics here are awesome for crude oil and gasoline", said John Kilduff, a partner at Again Capital in NY.

The recent spike in oil should ease in the near term, according to the International Energy Agency's (IEA) latest monthly report, but there could be a large supply gap late next year if the Organization of Petroleum Exporting Countries (OPEC), year as oil demand will grow steadily thanks to a solid global economy.

To make up for the losses, the IEA estimated that Middle East Opec countries could increase production in fairly short order by about 1.1 million bpd.

US production rose to 10.9 million barrels a day in the week, but Kilduff said the market appeared able to absorb the increase.

Beware, your kitchen towel can give you food poisoning
Findings from the study were scheduled for presentation Saturday at the American Society for Microbiology meeting, in Atlanta. Coliform bacteria and staphylococcus were found at a "significantly higher prevalence" on towels from meat-eating households.

Resident Evil 2: the remake's trailer and details
Kennedy reports to the Raccoon City Police Department on the day a zombie outbreak has claimed nearly everyone. In the first video, the game appears to adopt Resident Evil 4's over-the-shoulder perspective as Leon S.

Trump's attacks against Trudeau unanimously condemned by Canadian lawmakers
In contrast, Trump was mostly smiles with North Korea's Kim Jong Un on Monday, and said talks between them were "top-of-the-line". President Donald Trump , left, chats with Prime Minister Justin Trudeau on June 8, 2018, during the G7 summit in Charlevoix, Que.

Although Saudi Arabia has benefited from oil's rally over the last two years, the government relies on a strong security relationship with the USA, giving Washington some influence in the debate over OPEC policy.

"Saudi Arabia and Russian Federation have already started to lift production", he said. Moscow's pledge in the deal is to shave off 300,000 bpd from the October 2016 level, which was the country's highest monthly production in nearly 30 years-11.247 million bpd.

"With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High!" After landing Wednesday morning, Trump fired off tweets on various subjects, including the summit.

For 2019, IEA's estimate of demand anticipates growth of 1.4 million barrels of oil per day, amid a boost from the petrochemicals sector, where some projects are coming on stream earlier than previously thought.

Amid today's high prices, Riyadh and Moscow have said they think the time has come to.



Other News

Trending Now

Proposal to split California into three states earns spot on ballot
A poll by Survey USA in April found that only 17 percent of voters approved of the split, while 72 percent were against. The remaining 40 counties would be part of the state of Northern California or a name chosen by its residents.

Federal judge temporarily blocks deportation of pizza worker
The suit also stated that Villavicencio is applying for legal residency, although no evidence of this has been brought forward. Pablo Villavicencio was taken into custody on June 1, 2018, at Fort Hamilton Army Base in Brooklyn and now faces deportation.

Defeat devices reportedly found in diesel Daimlers
German Transport Minister Andreas Scheuer summoned Zetsche after the KBA's discovery, even as Daimler disputes they were illegal. That said, it has pledged to remove the software and to cooperate with authorities, the ministry said.

Brazil set to put dour World Cup performances behind them
Of the 23 players that Tite has selected only five remain from the squad that was so severely dumped from the competition in 2014. Meaning that were Brazil to win the group as expected, they will probably meet Mexico in the first knockout stage.