renegadebusdallas.com
renegadebusdallas.com April 20, 2018


Oil steady as easing US-China tension, US stock draw support

06 April 2018, 03:31 | Lionel James

Crude oil prices higher as drilling falls and Iran-related tensions escalate

Oil Prices Rise as US Drilling Slows

At 9:26 a.m. EDT on Wednesday and before the EIA's weekly inventory report, WTI Crude was down 2.14% to $62.15 and Brent Crude was down 1.97% at $66.78.

Brent crude futures LCOc1 were fetching $69.71 per barrel, up 37 cents, or 0.55 percent.

Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA in Singapore, said oil markets remained nervous about "whether or not the US administration will scrap or maintain the fragile nuclear deal with Iran".

USA crude inventories fell by 4.6 million barrels last week, compared with analysts' expectations for an increase of 246,000 barrels, EIA data showed on Wednesday.

Oil prices headed higher on Thursday after reports out of the United States showed a drawdown in USA crude stockpiles that analysts did not expect. Last week, reserves fell by 4.6 million barrels, while analysts expected a 246,000-barrel growth. Refinery utilization rates rose by 0.7 percentage points.

US production hit a new high last week.

Fortnite Vending Machine Locations - Map To Find Them All
Thank goodness Battle Royale's latest update welcomes vending machines. "There is no purchase limit to the items available". Today's patch is all about content, and it adds an interesting new feature to Battle Royale: vending machines.

Oil prices have moved in tandem with the US stock market throughout the year, though that relationship has broken down somewhat in the last few weeks.

Oil prices have recently closely tracked equities.

Oil prices have generally been supported by supply restraint led by the Organization of the Petroleum Exporting Countries (OPEC) and Russian Federation, which started in 2017 in order to rein in oversupply and prop up prices.

The gasoline stocks fell by 1.1 million barrels, compared with analysts' expectations for a 1.3 million barrels drop.

Consultancy JBC Energy estimates OPEC crude production rose 65,000 barrels a day in March to just under 32 million barrels a day, below its self-imposed ceiling of 32.5 million barrels a day.

OPEC and its allies are collectively curbing 1.8 million barrels per day of crude output to help eliminate a global oil glut. OPEC oil output fell in March to an 11-month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, a Reuters survey found, sending compliance with a supply-cutting deal to another record.



Other News

Trending Now

Conor McGregor attacked a UFC bus and injured a fighter
Several fighters sustained injuries during Thursday's melee, with Michael Chiesa receiving cuts to the face due to broken glass. McGregor promptly threw a fit on Twitter, calling what seems to be the entire UFC a pretty lewd word.

South Africa win fourth Test after explosive spell of bowling by Philander
The South African pacers averaged 18.59 runs per wicket, while Australia's pacers conceded 32.13 runs per wicket. South Africa's bowlers picked up four five-wicket hauls and a ten-for compared to two five-fors by Australia .

Slowdown in Eurozone manufacturing growth continues in March
Earlier sister surveys showed although growth slowed in the currency union's four biggest economies it still stayed strong. Weaker conditions remain evident in the small but diverse textile, clothing & other manufacturing sub-sector.

WWE WrestleMania 34 tickets: Prices skyrocket from last visit to New Orleans
Since he defeated Big Show for the United States Championship at WrestleMania 20 in 2004, Cena has never missed the show. Finally, the holding pattern is at an end and this story can move towards its conclusion - a big WrestleMania moment.

Trump says he did not know about $130000 payment to Stormy Daniels
Nearly immediately after the president's statements were reported, Daniels' attorney challenged him to make them under oath. Her attorney, Michael Avenatti , tweeted in response that, "We very much look forward to testing the truthfulness of Mr.

21st Century Fox could sell Sky News to Disney
Fox, which now owns just 39 per cent of Sky , expressed confidence either option would address the CMA's outstanding concerns. Analysts Liberum Capital said the Fox remedies "should be adequate" to overcome the regulator's media plurality concerns .

US plans to sanction Russian oligarchs this week
Russian Federation may be forcing the oligarchs to return to Russian Federation and return any stolen wealth as well. The targets for the sanctions will be taken from a classified annex to the report , the official said.

Keep quiet: Trump's lawyer asks judge to 'force' porn star into arbitration
Other than Defense Secretary Jim Mattis, the lone remaining enforcer is Kelly. DeGeneres wondered why Daniels was featured in two of Rogen's movies.

Manchester United Announces 2018 Summer Preseason Tour in USA
Manchester United have announced the dates for their pre-season tour of the U.S. in the summer via their official website . Pogba returned to United from Juventus for £89million in 2016 and won the Europa League and League Cup last season.

Spotify debuts on Wall Street with a $30 billion valuation
Spotify ( SPOT ) opened at $165.90 a share on the New York Stock Exchange Tuesday bringing the companies value to $30 billion. The direct listing allows Spotify to avoid some of the frustrations that companies have when listing publicly.