United States crude inventories jump, gasoline stocks drop most on record
14 September 2017, 12:40 | Isaac Mcdaniel
Hurricanes Harvey and Irma to support crude oil prices; buy on dips
The agency, which coordinates energy policies of industrial nations, raised its 2017 global oil demand growth estimate to 1.6 million barrels per day (bpd) from 1.5 million bpd.
Analysts at Drillinginfo.com said any sustained rally in oil prices would depend on demand strengthening along the lines of the IEA's projections, along with supply cuts. And U.S. suppliers aren't just capable of seizing the opportunity for a rebound, they're chomping at the bit-low oil prices have put a significant dent in the shale boom, and there's already a backlog (or "fracklog") of drilled but not yet completed wells just waiting for the economics to change. The goal of the agreement is to reduce the global surplus of oil reserves and stabilize oil prices.
According to the report, the value of Iranian heavy crude was further lifted buoyed again by an uplift in OSP offsets and supported by healthy global sour markets.
October West Texas Intermediate crude CLV7, +1.20% tacked on 59 cents, or 1.2%, to settle at $48.07 a barrel on the New York Mercantile Exchange after tapping a low at $47.
Nymex reformulated gasoline blendstock-the benchmark gasoline contract-rose 0.1% to $1.66 a gallon. The different scenarios depend on multiple variables, including the level of compliance with agreed cuts by OPEC and its allies, the pace of the oil output recovery in Libya and Nigeria, the strength of global demand, and the pace of the recovery in U.S. shale output.
OPEC's crude oil exports fell by 920,000 bpd to 25.19 MMbpd in August 2017-compared to the previous month.
Apple TV 4K Launched in Apple's Event
Why anyone would invest in more Apple TV storage, I don't know, and Apple has never properly explained why that's even an option. The much-rumored Apple TV with 4K support has been launched today by Apple at its event at the Steve Jobs Theater in Cupertino.
Senate committee to interview Trump Jr. behind closed doors
In an e-mail response to Goldstone, Trump Jr wrote that if the promised information about Clinton was as advertised, "I love it". Blumenthal told CNN that Trump Jr.'s interview did not put his concerns to rest, and instead opened up new lines of questioning.
The fall in production was the first in four months and follows hot on the heels of OPEC's recent decision to slow production.
According from the American Petroleum Institute, crude oil inventories increased 6.181 million barrels in the United States during the week-ending September 8.
Mexico produced 170,000 barrels per day, while it had to produce 100,000 barrels.
Thus, the organization expects that oil production in Russian Federation in 2018 will be 60,000 barrels per day above the level of 2017. Crude prices hit above $58 a barrel in January, fresh after OPEC begin its cuts, but have slipped since to stay in a range of $50-$54. But latest OPEC monthly report shows that Nigeria produced 1.861 million barrels per day in August.
South Africa's Kevin Anderson storms into US Open final
Rafa showdown at Flushing Meadows by taking out Federer in the quarterfinals 7-5, 3-6, 7-6 (8), 6-4 Wednesday night. He lost the first set to Busta but made a strong comeback later in the match to play his maiden Grand Slam final.
2017 iPhone Pre-orders May Begin on September 15
Samsung's latest Galaxy Note 8 costs about £869 - so it's a safe bet to assume that Apple's gadget will match or top this price. These panels are purchased at a price that twice more than what Apple is paying for LCD panels for iPhone 8 and iPhone 8 Plus.
SpaceX launches US Air Force's super-secret mini-shuttle
Together, the two X-37Bs have completed four space missions, each of which has set a new duration standard for the program. The X-37B is the first uncrewed space plane for the US , and is designed for reusability at a reasonable cost.
Cowboys specialist Tim Zaleski whiffs on punt attempt
Wyoming punter Tim Zaleski made his collegiate debut Saturday at Iowa and had a moment he'd like to quickly forget. While attempting to pin the Iowa offense as far back as possible, he forgot to actually kick the ball.