Oil, briefly up on lower rig counts, falls on USA output outlook

Oil, briefly up on lower rig counts, falls on USA output outlook

Futures in NY were little changed after surging 3.2% on Friday, the most since July 25.

"The market continues to flip back and forth on the idea that increased global demand and a production cut is going to support prices. but USA production, and North American production levels in general, is going to negate a lot of the impact of that", said Gene McGillian, director of market research at Tradition Energy.

Brent crude oil could slide below $60/bbl as a surge in US shipments to Asia threatens to undermine the production cut deal between OPEC and its allies, according to ING analysts, in contrast to bullish views from Goldman Sachs and others who see prices supported as strong demand soaks up supply from the U.S.

Former Minnesota Vikings QB Case Keenum to sign with Denver Broncos
In Minnesota's two playoff games, he tacked on 589 more yards, two touchdowns, three picks and a 60.2 completion percentage. After reaching the peak of Super Bowl 50 two years ago, the Broncos have sunk on the heels of two playoff-less seasons.

US West Texas Intermediate (WTI) crude futures were at $61.20 a barrel at 0122 GMT, down 16 cents, or 0.2 per cent, from their previous close. The dollar tends to have an inverse relationship with oil prices, as a weaker greenback makes dollar-denominated commodities cheaper for holders of other currencies. "We have monthly reports from the International Energy Agency and OPEC in the coming days to influence prices, but for now, crude is having a downbeat start to the week, unwinding some of Friday's effervescent rally". Total volume traded was about 34% below the 100-day average. The contract climbed 3% to $65.49 on Friday. That followed government data showing the U.S. added 313 000 jobs in February, the biggest increase since July 2016 and more than the median estimate of 205 000 new positions.

American explorers cut the number of rigs drilling for oil by four, the first decline since mid-January, Baker Hughes data showed Friday.

Broader markets were roiled by U.S. President Donald Trump's decision to go ahead with tariffs in imported steel and aluminum, sparking fears of a trade war.

Apple Lands First Animated Series, Central Park
The 26-episode order (two 13-episode seasons) will focus on the story of a family of caretakers who live in Central Park . The tech giant has already secured numerous projects, including an untitled thriller from M.

It is not clear when the deal to withhold output will end, but Iranian oil minister Bijan Zanganeh said Opec could agree in June to begin easing current oil production curbs in 2019, the Wall Street Journal reported yesterday.

The US consumer price index comes out Tuesday. Contributions of 200 words or more will be considered for publication.

Dead After Helicopter Crashes Into NYC River While Pilot Escapes
Witnesses on a nearby waterfront esplanade said the helicopter was flying noisily, then suddenly dropped and quickly submerged. Bystander video posted on Twitter shows the helicopter landing level, then capsizing as its rotors slap the water.

Related News:



Most liked

UConn, Irish, Louisville, Miss. State top seeds in women's NCAAs
Speaking of the Bulldogs, they are one of the three other projected No. 1 seeds by ESPN along with Louisville and Notre Dame. The Huskies have wins over 10 ranked opponents , including projected No. 1 seed Louisville and perennial power SC .

Philippe Coutinho welcomes Neymar return to Barcelona, Southampton's managerial options
Neymar has had a mixed start to life in Paris and speculation abounds about his future despite only joining the team a year ago .

President Buhari Shocked That IGP Disobeyed His Directive On Benue
President Buhari arrived the airport at Makurdi, the state capital at exactly 10:43 a.m. on Monday morning. The President had instructed the IGP to relocate to the state until the carnage was contained.

Tease wins Crufts amid protest at the NEC
The Best in Show award was the culmination of Crufts, a four-day event which attracted nearly 21,000 competitors. Ms Short had just proudly stepped up to the podium with her Best In Show victor when the commotion unfolded.

Assassin's Creed Origins' undead pharaohs expansion gets thrilling launch trailer
Along with a new storyline, players will get a new level cap of 55, new levels for crafting, resources, and a few new abilities. There will also be new outfits and gear to unlock, alongside rare and legendary weapons all themed around Egyptian mythology.

GOP Chair Claims Long Red Pa.-18 a 'Democrat District'
Donald Trump won the 18th Congressional District by 20 points against Hillary Clinton in the last presidential election. TRUMP: That's much easier than doing what I have to do because - but this is much more effective.

Browns to trade Kizer to Green Bay
However, ESPN reported that the 10-time Pro Bowl selection said via email that his "decision will be based purely on my health ". Tim Benz says the Landry acquisition was a great haul, but the several other deals haven't quite moved the needle enough.

Chiefs set to release Tamba Hali
Hali didn't record a sack and his release will save Kansas City $7M, but will incur a dead money hit of $1.7M. Hali, a first-round pick of the team in 2006, has battled balky knees the last few years.

Venus Williams v Serena Williams: Indian Wells third round
With Serena Williams coming back last week after 14 months away, she, and everyone watching, were taking it one match at a time . Open finalist Madison Keys; two-time Grand Slam victor Garbiñe Muguruza and reigning US Open champion Sloane Stephens.

John Cena Challenges The Undertaker to a Match at WrestleMania
This was the only match on the card where I had to go back and check on who I predicted to win . And we preserve our outright dream match between Shinsuke Nakamura and AJ Styles .

Anushka Sharma Virat Kohli new photo will send romantic waves
Besides Virushka , cricketer Yuvraj Singh and Hazel Keech's love pad is on the 29th floor of this upscale project. Anushka, on the other hand, has been busy with the shooting of her upcoming film, Sui Dhaaga with Varun Dhawan.

Spotify makes South African debut
Suggestions will be vetted, and users' metadata recommendations will be ranked based on the quality of their past submissions. Amazon Music Unlimited has 16 million paying subscribers, and Pandora Media Inc has 5.48 million total subscribers.

BJP declares candidates for March 23 RS polls
Meanwhile, in Gujarat , the BJP fielded three candidates on its mandate to counter a possible move by the Congress. The BJP had nominated sitting Rajya Sabha MPs and Union Ministers Parshottam Rupala and Mansukh Mandaviya.

Facebook obtains exclusive rights to stream 25 Major League Baseball games this season
The dueling announcements highlight the emerging arms race in the tech industry to lure users with live streaming sports events. The games will air on weekday afternoons, and MLB Network will produce the broadcasts to ensure TV-level quality.

Hearthstone: 6 new cards from the new 'Witchwood' expansion
That works like a modified Charge, letting minions attack other minions - but not the opposing hero - right away. Hearthstone: The Witchwood can be pre-purchased starting today, at the price of $49.99!