Crude oil prices still under pressure amid concerns over United States production levels
Mar 04, 2018, 03:55
Oil prices were pressured lower along with the equity market in the morning session on Friday after U.S. President Donald Trump announced steep tariffs on steel and aluminum imports. The price for Brent crude oil, the global benchmark, was up 0.18 percent as of 9:17 a.m. EST to $66.64 per barrel.
It noted the impact of growth of American production, saying, "Increasing U.S. production, driven by growth in the shale oil sector, has put a limit on price increases".
Crude oil prices slipped into negative territory during the previous session on anticipation of swelling USA crude oil inventories.
The Organization of the Petroleum Exporting Countries and non-OPEC producers led by Russian Federation have agreed to cap output by about 1.8 million bpd in a deal running from January a year ago until the end of 2018.
US crude inventories have fallen more than 100 million barrels in 12 months to their lowest in three years.
United States crude output slipped in the last month of 2017, but in November hit an all-time high of 10.057 million barrels per day (bpd).
OPEC officials are expected to meet US shale executives next week in Houston, at the annual CERAWeek conference, presented by IHS Markit.
JC Penney (JCP) Issues FY19 Earnings Guidance
Baird set a $4.00 price target on shares of J C Penney and gave the company a hold rating in a report on Thursday, January 4th. Its up 0.81, from 1.45 in 2017Q2. 222.21 million shares or 0.72% more from 220.63 million shares in 2017Q2 were reported.
"One of the things that contributed to the strength of the (oil) market was the weakness of the U.S. dollar over the past couple months", said Gene McGillian, manager of market research at Tradition Energy in Stamford.
The (), which measures the greenback against six major currencies, increased for a second day on Wednesday and was slightly higher on Thursday.
Fawad said the market has been ignoring "good compliance with the production cuts by OPEC and non-OPEC countries".
"The standoff "shale versus sheikh" continues to frame the oil market, with the former again gaining the upper hand", said Norbert Ruecker, head of macro and commodity research at Julius Baer.
The OPEC/non-OPEC cuts totaling roughly 1.8 MMBPD, which began in January 2017, have helped raise prices from lows around $26/Bbl in January 2016.
Venezuela's output dropped by 30,000 barrels a day to 1.68 million barrels.
Former Los Angeles Mayor Antonio Villaraigosa, who is courting more moderate and even conservative voters, won just 9 percent. Representative Maxine Waters are urging the members to stay united to face the midterm elections.
The entire defence will be put under pressure by the in-form Madrid attack and they will need to be on their toes all game long. Benzema teed up Ronaldo with a neat backheel, and the Portuguese turned and fired the ball past goalkeeper Fernando Pacheco.
Oil is struggling to regain the highs of January after a sell-off in global equities seeped into crude markets earlier this month. Oil prices fell on Wednesday, weighed down as the United States dollar moved further away from three-year lows hit last week.
The agency said a Turkish evacuation helicopter could not land after coming under fire until airstrikes cleared the area. It is, however, the more "conventional" weapons that have caused most of the deaths in eastern Ghouta.
ISRAELI jets targeted sites in the Gaza Strip early yesterday after a rocket was sacked into Israel from the coastal enclave. The incident was the most serious to take place on the southern border since Operation Protective Edge in 2014.
Health ministers from 11 EU countries will meet Tuesday to discuss the goals set out in the European Vaccine Action Plan. For measles, about 90 to 95 percent of the population needs to vaccinated to virtually eliminate the disease.
The card now earns 5% back on Whole Foods purchases, the first time it has extended a rate this high on purchases beyond Amazon. Amazon is leaving no stone unturned to rake in more Prime members, and channel those towards Whole Foods and vice versa.
Vonn would like to be a multisport athlete , but her forays into tennis, figure skating, soccer and gymnastics were short-lived. Whenever Ledecka returns from her skiing exploits, Reiter said, it is akin to having to polish a rough diamond all over again.
When I easily won the Electoral College, the whole game changed and the Russian excuse became the narrative of the Dems. Trump had tweeted about Obama on President's Day as well: "Obama was President up to, and beyond, the 2016 Election ".
Evacuations recommended as storm approaches burn areas
In Carpinteria, creeks that flooded Highway 101 on January 9 were not even a third full on Friday morning, Eliason said. Should the need arise, CHP would close Highway 101 just prior to the arrival of the intense portion of the storm.
Get ready for the 'largest iPhone ever'
The first image, which can be seen above, supposedly shows the display digitizer from Apple's upcoming 6.5-inch iPhone X Plus . These larger models could ship in a new gold color on top of the black and silver options now available for the iPhone X.
Severe Weather Possible Tonight
The primary concern will be heavy rain and flooding, with an occasional strong wind gust or two with some of these storms. Minor flooding is possible along smaller creeks and streams due to the recent snow melt and very saturated ground.
Trump, Australia's Turnbull seek common ground on trade, China
Turnbull has since met Trump in NY , but the Washington meeting will be their first in the context of an official state visit. Trump had campaigned against immigration, including by Muslims, and disliked the deal, which was arranged by Barack Obama.
Browns Net Zero Compensatory Picks For 2018 Draft
Compensatory picks were previously not allowed to be traded, until a rule change allowed dealing such picks starting in 2017. On Friday, the NFL awarded the Denver Broncos a third-round compensatory pick, No. 99 overall in the 2018 NFL Draft .
Melania's parents permanent USA residents
He said: 'Under the current broken system, a single immigrant can bring in virtually unlimited numbers of distant relatives. Under the White House framework for such a deal, family based visas would be pared down to just spouses and minor children.
Germany share gold medal with Canada in two-man bobsleigh
In 1968, West Germany and Italy tied after four runs, but Italy won gold thanks to a tiebreaker with the fastest single run. Earlier, traditional speedskating power Norway was back on the top step of the podium at the Pyeongchang Olympics.
Palestinian head Abbas calls for global peace summit
The continued expansion of Israeli settlements is one of the major obstacles to the establishment of peace in the Middle East. The Palestinian leader added into his prepared remarks: "We are employees for the occupation".