Much of this production will be exported as US refiners along the Gulf Coast aren't capable of processing more light crude, having been set up to deal more with heavier and sour grades from offshore Gulf of Mexico platforms and imports from the Middle East.
The spread "could stretch a bit further" but USA refinery restarts and growing US exports should eventually lift WTI prices and narrow the spread, Ritterbusch said.
Iran expects to maintain overall crude and condensate exports at around 2.6 million bpd for the rest of 2017 while the UAE's Energy Minister Suhail al-Mazroui said its compliance with supply cuts was 100%.
He also said oil in floating storage was falling and cited a shift of benchmark Brent prices into backwardation, a market condition in which it is more attractive to sell oil immediately rather than storing it for later sale, indicating tighter supplies.
West Texas Intermediate (WTI) rose 3.1% to $52.2 a barrel, its highest level since April, and 0.11% to $52.3 a barrel in early morning trading. United States oil inventories are back within the five-year range and are at their lowest since January 2016.
Platts is seeking feedback from the market by October 13. "Now that prices are higher, the US producer should continue to press production higher".
New Obamacare Repeal Plan Offered
Sen. 12 other senators have signed onto Sanders' bill. "The insurance companies get their money either way", Johnson told Reuters. Absent any changes, he said, the federal government will spend $650 billon on the health insurance program for the poor by 2027.
Pilots ground Air Berlin flights as bid deadline nears
The airline has been struggling for some time and over the past two years has announced losses amounting to 1.2bn euros (£1.1bn). Flights from Air Berlin's key hubs in Berlin and Dusseldorf were especially badly hit by cancellations, the airline said.
Argus publishes prices for WTI Houston, WTI Midland, Mars and LLS in Asia.
Brent and WTI explode higher as global tensions uncap Brent's long-term resistance. Taiwan (中油) will increase domestic gasoline and diesel prices on Monday by NT$0.3 (US$0.009) and NT$0.4 per liter respectively, pushing prices at the pump to a near seven-month high.
OPEC and other oil exporters declined on Friday to extend their agreement to limit production in a bid to drain a global glut that has weighed on prices for three years.
"In spite of increases from US shale production, that kind of increase is enough to sop up" excess oil supply, Lipow said. The jury is out, and speculation's rising about what OPEC would or should do after the production cut deal expires after its current deadline in March 2018. But the storm had a much smaller and shorter impact on crude oil production, which fell by 750,000 barrels a day the week the storm made landfall but recovered most of that over the two following weeks.
While in conversation with an energy trader, a polymerupdate team member was informed, "crude oil prices gained on the back of improved global crude oil demand".
Recep Tayyip Erdogan, the president of Turkey, threatened to cut off the pipeline that carries crude from northern Iraq to foreign markets as part of his opposition to an independence referendum in Kurdistan. Also Janet Yellen will be speaking in Cleveland, Ohio and the API Energy Stocks at 3:30 P.M. could be a game changer to the overbought technical reading.
The transport body also queried Uber's use of Greyball software , which could be used to block regulators' access to the app. Earlier this year, Transport for London renewed its license on a limited basis, giving it six months to address concerns.
Air traffic control's systems went down at 5.20am, grounding thousands of passengers at the start of school holidays. A power outage at Sydney Airport air traffic control has delayed or diverted 34 domestic flights this morning .
She could be seen trying to dry her face with both hands as tears streamed down her cheeks towards the end of the program. I know America loves singers , so I fully expect some of them to rise up and take slots from my variety selection.
Lucrative TV contracts for rising franchise values and labor deals with players help ensure team profitability, Forbes said. According to Forbes magazine, their worth increased 14 per cent in the a year ago , reaching US$4.8 billion (NZ$6.6b).
The spacecraft's final transmissions will reach Earth approximately 86 minutes later with the last expected by 4:55 a.m. Still, "this mission has been going for so long, it's a little hard to believe that it's over", he says.
However, hurricanes are still possible as the Atlantic Hurricane Season technically runs through November 30th. A new front moving in after Thursday could kick Maria quickly out to sea, minimizing any impacts.
President Donald Trump's "ignorant, absurd and hateful rhetoric" about Iran unfit to be heard at the United Nations. North Korea has been subject to global condemnation for its development of nuclear weapons and ballistic missiles.
An officer from the La Verne Police Department shot and wounded a man who refused to drop what he thought was a weapon. No weapon has been recovered at the scene, and officials did not say that the man had committed any crime.
Apache Struts software is especially time-consuming to update because each application needs to be fixed individually. While firms usually act within hours or days after an announcement, some companies don't patch for years, he said.
Apple's iPhone X event was a blast as new iPhone models were released, marking them as the top contenders of the market. The new Apple TV 4K provides "stunning visuals" and will deliver "cinematic quality to virtually everything you watch".
Hawkeyes react to last-second fall to Penn State
Catch it, will ya: Brandon Polk dropped a completion that would have sustained a Penn State possession in the second quarter. By comparison, Penn State had 13 turnovers gained - 10 picks, three fumble recoveries - in 14 games last season.
Abenomics, snap elections in Japan
The main opposition Democratic Party has been suffering in the polls, with only eight percent of voters planning to vote for them. Mr Abe said: "I expect opposition criticism is going to focus on (the scandals), and it's going to be a very hard election".
Federal government: CT a target of election hacking
A scan is similar to burglars jiggling the doors of a house and moving on when they realize the doors are locked. DHS confirmed to my office that there was no breach and no attempt to breach Minnesota's election system.
'Veep' wins Emmy for best comedy series
Though it has a tight murderer's row of actors in its cast (including perpetual nominee Anna Chlumsky and Emmy victor Tony Hale ), it's Louis-Dreyfus who has anchored the series and carried it to prominence.
Irresponsible to pass Graham-Cassidy ACA repeal bill
Due to a ruling by the Senate parliamentarian, Senate Republicans have only until September 30 to use the procedure. On Tuesday, asked by The Intercept about the status of his legislation, he said that the bill's cosponsors, Sens.
How to watch Carabao Cup online
He made a determined run early on but took on a shot from too far out and his meek effort was easily collected by Danny Ward . It would be a huge surprise were Liverpool not to heavily rotate for the Carabao Cup fixture tomorrow night.
Hosts win third T20I by 34 runs to lift Independence Cup
His and Pakistan's only hundred in a Twenty20 worldwide had come against Bangladesh during the World Twenty20 tournament in 2014. Pakistan will now play the series-decider third and final T-20 clash against World XI at the same venue tomorrow.
Samsung Commits More Funds To Autonomous Driving Tech
Samsung has previously invested in a range of startups involved in autonomous driving and sensors through other investment funds. The announcement comes shortly after Samsung completed its acquisition of American audio and in-car technology firm Harman .
Weakened Irma lashes Tampa Bay region; full impact unknown
Update 1 a.m.: Hurricane Irma sustains Category 2 hurricane winds of 100 mph as its center moves 15 miles southwest of Lakeland. Another hurricane, Jose , strengthened to an "extremely risky category 4" storm, the National Hurricane Center said on Friday.