A trade source, who is not authorized to speak to media, said International Olympic Committee signed the deal with Norwegian oil company Equinor which will supply a variety of us crude grades.
Oil was close to its 2019 high of nearly $67 a barrel on Tuesday, supported by OPEC-led supply cuts although gains were capped by concerns about slowing economic growth that could hit demand. During Monday's trading, halted at midday for the President's Day holiday, the WTI peaked at $56.33 and bottomed out at $55.72.
WTI Crude traded up 0.80 per cent at $56.43, while Brent Crude eased off earlier gains to trade down 0.02 per cent at $66.24.
Oil has risen almost 25 percent so far this year and is on course for its strongest first-quarter performance since 2011, thanks largely to a commitment by the Organization of the Petroleum Exporting Countries and allies to cut output.
Refiners around the world are also having to pay more to secure supplies of the medium, or heavy, sour crudes produced by Iran and Venezuela, both of which are under USA sanctions.
Financial markets, including crude futures, were also generally supported by hopes that the United States and China would soon resolve their trade disputes, which have dragged on global economic growth.
The term deal will help cut IOC's dependence on OPEC crude, said Sri Paravaikkarasu, head of east of Suez oil for consultants FGE in Singapore.
"OPEC production cuts and US sanctions on both Iran and Venezuela are limiting supply". Recently, Saudi Arabia has suggested that they are going to cut production, and so far it seems to be working as far as price is concerned.
Prices have been bolstered by a tightening market because of supply cuts organized by the Organization of the Petroleum Exporting Countries (OPEC) and some non-affiliated producers like Russian Federation.
USA energy companies last week increased the number of oil rigs looking for new supply by three to a total of 857, energy services firm Baker Hughes said in a report last Friday.
At least partly offsetting supply falls has been a surge in U.S. crude oil production by more than 2 million bpd in 2018, to a record 11.9 million bpd.
Prior to that, he had played in the World Cup qualifiers, helping Windies make it to the final and qualify for the main event. It's exciting for me, I can put my game plans into place, use my variations and being clever with what you bowl.
Berenberg, one of Europe's oldest banks, said it saw the chances of May getting a majority for her deal at just 10 percent. If she refused, he said "a dozen or even more" ministers may resign, including "up to half a dozen" from the Cabinet.
Witt worked for the Air Force and was a counterintelligence agent for 11 years where she had top-security clearance . But later that year, she helped an unnamed Iranian-American official produce an anti-American propaganda film.
Newport bowed out of the FA Cup fifth round on Saturday after losing 4-1 at home to Premier League champions Manchester City . 'I'm not a sweet guy in those situations, they have to take it seriously and play the game like it deserves'.
Lower level officials had arrived earlier for what the White House has called preparatory meetings due to start on Monday. Mid-level officials began discussions Monday in preparation for two days of talks starting Thursday involving U.S.
The US, in a strong statement, has called on Pakistan to "immediately end support and safe haven to all terrorist groups". More than 44 Indian soldiers have been killed and many more injured in the deadliest attack in Kashmir in two decades.
House Speaker Nancy Pelosi (D-Calif.) also didn't seem too impressed with the Green New Deal resolution last week. Trent, the spokesman for Ocasio-Cortez, predicted the Green New Deal gambit would backfire on Republicans.
Three children among four found dead after MI shooting
She stopped short of calling the case a murder-suicide, saying it was too early in the investigation to make that determination. She said investigators aren't searching for a suspect, and the sheriff's office tweeted there is no threat to community safety.
BBC cameraman shoved during Donald Trump's speech in Texas
Ron Skeans said he was standing with the press Monday night on the media platform when he felt a "very hard shove " from behind. Sopel said "there was no security last night, and the attack on Ron was stopped by a Trump-supporting blogger".