Oil prices rise, and Barclays sharply revises its forecasts
06 September, 2018, 05:11 | Author: Frank Williams
US drillers added oil rigs for the first time in three weeks, increasing the rig count by 2 to 862.
Oil prices rose on Tuesday, with United States crude breaking through $70 a barrel, after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.
At 10:30 am Singapore time (0230 GMT), ICE November Brent crude futures were down a marginal 3 cents/b (0.04%) from Monday's settle at $78.12/b, while the NYMEX October light sweet crude contract was 26 cents/b (0.37%) higher than Friday's settle at $70.06/b.
Local refiners are finding it increasingly hard to maintain their Iranian oil imports without U.S. exemptions, as the companies will need to halt imports and clear transactions before the sanctions snap back on November 5. US markets were closed on Monday for Labor Day.
Current conditions have put Brent crude oil just a tad under the psychological $80 level.
On Monday the Anadarko Petroleum Corp announced that it had halted production and evacuated two facilities in the northern Gulf of Mexico in advance of Hurricane Gordon.
Second-month Brent futures traded at the biggest premium to third-month futures since early July.
In a speech on June 4, the Leader slammed European governments for expecting the Iranian nation to both tolerate sanctions and give up its nuclear activities, saying that the country can not remain in "nuclear custody" when the sanctions are still in place. The US sanctions have already started to put curbs on Iranian oil imports.
As oil markets show growing global supply concern, Iraq is signaling the jitters may be overdone.
The economists added that in order to survive, Iran should "ensure that the remaining key trading partners will continue buying its oil and not bow to USA demands".
USA light crude jumped $1.60 a barrel from Friday's close to a peak of $71.40, its highest since mid-July, before easing to around $70.65 by 1340 GMT.
French bank BNP Paribas struck a similar tone, warning of "supply issues" for the rest of the year and into 2019.
The Iranian rial hit a record low against the US dollar on the unofficial market Monday amid a deterioration in the economic situation and the reimposition of sanctions by the United States. Even though sanctions don't officially take effect until November, Iran is already seeing customers flee as the US imposes penalties on buyers after Trump quit a 2015 nuclear accord with the country.
As a result, I would expect these modeled surf heights to change from day to day in the near term, perhaps quite significantly. IRELAND could suffer a storm even stronger than Ophelia next month, if weather experts in the USA is to be believed.
At home on both secular and sacred stages, Franklin's final service was heavily steeped in faith and gospel. Her grandchildren and an obituary reading by her niece Sabrina Owens are also planned for Friday.
Barcelona have not won the Champions League since 2015 after crashing out in the quarter-finals in each of the past three seasons. Egypt forward Mohamed Salah scored 44 goals as Liverpool reached the Champions League final, losing to Real.
The mostly female demonstrators shouted out that Mr Kavanaugh would allow President Trump to pardon himself. But the Democratic frustrations that boiled over on September 4 had been simmering for more than two years.
On Monday, McClure and D'Amico appeared on " Today ", telling Megyn Kelly that about $150,000 was left, Fallon said. Some of the money GoFundMe donors gave to him ended up in the pockets of drug dealers, Bobbitt told the Inquirer .
After Donald signed, the Raiders apparently were much more willing to consider offers, and they got the "crazy offer" they wanted. The Bears still have to sign Mack to an extension, but this addition is one that will give Pace endless props around the league.
Plus you'll marvel at the screen with TRILUMINOS™ display for mobile, producing only the most vibrant colour palette. The handset is packed with impressive specs and it is the first phone to come preloaded with Android 9 Pie .
Xiaomi Announces a $300 Smartphone with Flagship Specs
For in-depth comparisons of Poco F1 and OnePlus 6 , follow our social media pages so you will be notified when we do that here. The Xiaomi Poco F1 that carries a tagline of " Master of Speed " is powered by Snapdragon 845 and up to 8 GB of LPDDR4X RAM.
McCain hailed as hero, maverick at funeral
The service brought to a close two days of mourning for the six-term senator and 2008 GOP presidential nominee in his home state. McCain "served his country honorably", Pence said, adding that President Donald Trump "respected his service to the country".
Sask. trade minister "concerned" over NAFTA talks
What if Canada finds major problems in the deal and doesn't want to sign? But "no NAFTA deal is better than a bad NAFTA deal". Freeland said Canada was "extremely involved" in the progress that was made between the US and Mexico over the summer.
Hurricane Maria killed 2,975 in Puerto Rico
Rossello pledged to carry out the recommendations, though there are questions about Puerto Rico's ability to do so. Ricardo Rossello did not immediately return a message for comment.