Pace Of US Oil Rig Count Growth Slows As Prices Climb
29 July, 2017, 00:52 | Author: Gladys Mathis
The price for September Futures Brent oil rose by 1,84% reaching $50,62 per barrel on the London ICE Futures Exchange.
Robust demand in particular has sent spot prices outperforming two-year forward West Texas intermediate prices by $2.40 barrel over the past month, Goldman analyst, Damien Courvalin, wrote in the note.
Yesterday, the EIA once again helped to lift oil market spirits by reporting another hefty decline in US commercial crude oil inventories for the week ending July 21.
Earlier this week, Saudi Energy Minister Khalid al-Falih indicated that OPEC's de facto leader and biggest producer Saudi Arabia would cut its crude exports to just 6.6 million barrels per day next month. The monitoring committee, known as JMMC said it would track Nigerian production patterns in the next weeks. Physical markets have firmed due in large part to very strong refining margins.
ClipperData LLC, the global leader in real-time tracking of crude oil and petroleum product flows, today announced a no-cost trial of its Global Crude Oil Report to help serious market participants assess crude oil supplies at what could turn out to be a turning point for the oil market. For the month, 10 oil rigs have been added, the fewest for a month since May 2016.
Government data showed US crude inventories fell more than expected last week.
Royal Dutch Shell Plc extended its force majeure on exports of Nigeria's Bonny Light crude oil to cover the outage of the Trans Niger pipeline, the company said on Friday, providing further support to Brent crude. The United States is considering sanctions against the oil exporter that could raise certain oil prices.
The judges said: "This year's Hyundai Mercury Prize shortlist celebrates the remarkable power of British music". Last year, the grime star and frequent Drake collaborator Skepta won the Mercury Prize for Konnichiwa .
He played one year for the Bulls scoring 16 goals before he was drafted No. 16 in the 2012 MLS SuperDraft by Kansas City. It was in March that Sporting KC offered a raise and extension to Dwyer, but a deal couldn't be worked out.
President Donald Trump speaks to law enforcement officials on the street gang MS-13, Friday, July 28, 2017, in Brentwood, N.Y. Trump wants more immigration judges to deal with the backlog of cases, the senior administration official said.
On Tuesday, he said that Sessions should get tougher on the leaks coming from the intelligence community. President Donald Trump isn't letting up on his Twitter criticism of Attorney General Jeff Sessions .
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He's been in custody since January when he was arrested while on vacation in Miami before he could return to Germany. Schmidt is one of eight individuals charged in the U.S.in Volkswagen's emissions cheating.
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India has been providing security to this territory, supposedly on behalf of Bhutan, triggering the escalation of tensions. China still maintains that there won't be any meaningful dialogue unless Indian troops "withdraw unconditionally".
Yet each new revelation brings back the question of who is Donald Trump and what's going on with Russian Federation . President Donald Trump won the White House by defying conventional wisdom and following his instincts.
The MeT Centre here predicted that heavy to very heavy rain would occur at several places in Gujarat during the next two days. 10,300 people have been evacuated from Banaskantha , 9790 from Patan district and another 950 people from Morbi district.
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