Oil Prices Gain As US Drillers Cut Oil Rigs

Oil Prices Gain As U.S. Drillers Cut Oil Rigs

Last month, Saudi Arabia sharply increased production, growing oil supplies to world markets by 390,000 barrels per day to 7.6 million barrels per day.

He asserted that Riyadh "does not try to push oil" into the market beyond customer needs.

A rare public statement from the Saudi Energy Ministry on Thursday could be taken as an illustration of their unease.

Holding production steady would mean shipping less crude than Saudi Arabia indicated after the OPEC deal.

OPEC agreed with Russian Federation and other oil-producing allies last month to raise output from July, with Saudi Arabia pledging a "measurable" supply boost but giving no specific numbers.

Ritz Cracker Products Recalled Due To Potential Salmonella Presence
They added that they are working with a "limited number" of impacted retailers to have the products removed from store shelves. Mondelēz Global LLC announced a voluntary recall of certain Ritz Cracker Sandwiches and Ritz Bits products sold nationwide.

Brent for September settlement added US$0.31 to US$72.89 on the London-based ICE Futures Europe exchange.

The impact of US sanctions on Iran's oil shipments, which remains highly uncertain, will play a big part in determining the final outcome. Rouhani didn't elaborate on the other "straits" Iran might have available for its exports. The Turkish government also on June 27 that does not intend to respond to U.S. sanctions against Iran. The U.S. rejected the request, an indication that Washington is going to give very little lee-way on sanctions.

"It seems that Saudi Arabia will not pump more and that has the price moving higher", Greg Michalowski, an analyst at ForexLive, said.

Futures pared gains in NY on Friday as President Donald Trump said that he's "ready to go" with tariffs on $500 billion of Chinese goods. The expiring U.S. West Texas Intermediate (WTI) crude for August delivery was up 28 cents at $69.74 a barrel, while the more traded September contract fell 13 cents to $68.11.

The kingdom's crude output surged the most in three years last month, as Trump demanded his ally's help in cooling gasoline prices and filling in the supply gap that will be created by his sanctions on Iran. This is expected to close banking channels for trade with Iran.

Neil Armstrong Collection Up For Grabs By Dallas-Based Auction House
Personal belongings of the first astronaut who landed on the moon - Neil Armstrong - put up for auction in Texas. Schmitt was one of the last people to set foot on the moon during the final mission of NASA's Apollo program.

Next week, the markets will also be watching the oil exports from Saudi Arabia.

Fuel prices were supported the last few weeks in large part because almost 700,000 bpd was shut down in Libya. "Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference.Prices to high!"

Meanwhile, according to a report from Baker Hughes, the number of US oil rigs fell by 5 this week to 858. U.S.net imports increased 2.2 million barrels per day during that week. USA gold futures were down 0.5% at $1,218.30 an ounce. As such, Houston reflects the dynamics of the crude trade much better than Cushing at this point. We suppose bunker prices will change irregular and will be rather volatile next week. June shipments came in at 8.36 million barrels per day (bpd) (down 9 percent from 9.2 mil-lion bpd in May).

That is rather unclear situation in global fuel market at the moment and it is rather hard to predict which driving force will prevail in the near future.

Beta Registration Now Available For PS4 System Update 6.0
What features are you hoping it'll bring to the platform? For the North American Network registration, this is the site for you . And here we are just hoping that they will finally implement a way to change our gamertag because. well.

Related News:

  • Suspected gunman barricaded in Los Angeles grocery store

    Suspected gunman barricaded in Los Angeles grocery store

    The man's grandmother is in hospital in a critical condition, while the woman he forced into a auto suffered minor injuries . Frightened customers and workers dove for cover as police bullets fired at the suspect shattered the store's glass doors.
    Olivia Munn on why she doesn't want to be royalty

    Olivia Munn on why she doesn't want to be royalty

    In the aftermath of their handsome nuptials on May 19 - which saw Prince Charles walk the new royal partway down the St. She continued: "I don't think there are any concrete plans at the moment for Meghan to go out and see her father".
    Tekashi 6ix9ine Hospitalized After Brutal Attack

    Tekashi 6ix9ine Hospitalized After Brutal Attack

    They reportedly emerged having stolen around $750,000 in jewelry and between $15,000 and $20,000 in cash, reported TMZ . He drove home after the shoot wrapped around 4 a.m., but when he got there, another auto was blocking his driveway.
  • Jurgen Klopp had flawless  response when asked about his contradictory quotes

    Jurgen Klopp had flawless response when asked about his contradictory quotes

    Yet there may still be reasons for Liverpool fans to believe that Klopp could turn out to be wrong with his assumption. It's very important at that age group that there's no rush because he still has 14 or 15 years to play in his career.
    Facebook fears government-tied firm abused user info

    Facebook fears government-tied firm abused user info

    The firm worked with the Trump campaign during the 2016 election, though it says it did not use the collected data during that time.
    Graham: Warrant for Carter Page surveillance was 'a bunch of garbage'

    Graham: Warrant for Carter Page surveillance was 'a bunch of garbage'

    He lamented that the materials were released during a pending investigation. "President Putin says it's not Russian Federation ". Page has denied being an agent of Russian Federation , which he repeated Sunday to CNN , saying, "No".
  • Donald Trump's Approval Rating Inches Higher, Buoyed by Republican Support

    Donald Trump's Approval Rating Inches Higher, Buoyed by Republican Support

    Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News. In fact, he said Trump missed the opportunity to "distinguish" the U.S.

    Supergirl season 4 casts Nicole Maines as TV's first trans superhero

    Jesse Rath and Sam Witwer were previously cast as Brainiac-5 and Agent Liberty, respectively, for the upcoming season. Manchester Black is a "the type of guy who brings a knife to a gunfight and still walks away the victor ".
    Trump says Carter Page documents show DoJ and Federal Bureau of Investigation  misled courts

    Trump says Carter Page documents show DoJ and Federal Bureau of Investigation misled courts

    Republicans alleged the Federal Bureau of Investigation had abused its surveillance powers and improperly obtained the warrant. Yet Schiff added that the materials shouldn't have been released during an ongoing investigation because of national security.
  • Neymar dismisses Real Madrid transfer rumors

    Neymar dismisses Real Madrid transfer rumors

    Having seen Mbappe light up the World Cup with France , it was assumed they would sooner part with Neymar . Neymar , though, says that these critics can't possibly understand exactly what happens on the field.
    NC Reports First West Nile Death Of 2018

    NC Reports First West Nile Death Of 2018

    Empty containers and change water weekly in containers that can not be removed, such as bird baths, pet dishes and wading pools. Limit the number of places around your home for mosquitoes to breed by either draining or getting rid of items that hold water.
    Trump lashes ex-lawyer, says taping of client 'perhaps illegal'

    Trump lashes ex-lawyer, says taping of client 'perhaps illegal'

    His lawyers have reviewed a transcript of the tape, and were said to not believe it posed a legal problem for him. Trump's tweets lashed out at both points. "No Collusion, No Obstruction - but that doesn't matter", Trump wrote.

Most liked

Liver Cancer Mortality Greatest in Those 75 and Older
The one positive report from the study is the declining rate of deaths in Asian-Americans from both cirrhosis and liver cancer . For example, deaths in Kentucky rose almost seven percent, six percent in New Mexico and almost six percent in Arkansas.

Breath Of The Wild Link Added To Mario Kart 8 Deluxe Roster
Outside of the new content, the patch also comes with a few "gameplay revisions", according to Nintendo. Players will also be able to utilize the Ancient Tires and Paraglider, which fans will also recognize.

'Hung over' golfer finishes in contention at British Open
For Woods this was not to be the weekend where he finally claimed his 15th major title, a decade after his last at the US Open. Many analysts howled at Woods' ultra-conservative strategy across the early rounds here at big, brawny and brutish Carnoustie.

British Open: Tiger Woods Contends, Francesco Molinari Wins
He ended up carding a one under par 70 to finish -6, which proved a frustrating total in the light of Molinari's exploits. Schauffele made double bogey on the next hole, leaving one in the wispy grass, another over the green.

Stocks lower as Trump fans further investor unease
The US has since threatened tariffs on another US$200 billion in Chinese exports, prompting Beijing to vow retaliation. The PBOC raised the yuan reference rate by 605 pips to 6.7671 today - the biggest single-day jump in over two years.

Carmelo Anthony traded by OKC to Atlanta, but waived for free agency
Anthony averaged 11.8 points in the series, shooting just 37.5 percent from the field and 21.4 percent from 3-point range. The Hawks' offense had the most possessions per game run through their pick-and-roll ball-handler last season.

Kenyan Beauty Queen Sentenced To Death For Murder
Her lawyer Joyner Okonjo said Ruth is now a devout Muslim and has been attending a course in theology for the past one year. A Kenyan court has sentenced her to death, drawing criticism from rights groups who called the punishment "inhumane".

European Union hits Google with record $5 billion fine
The image of United States President Donald Trump is the first result that appears when you search "idiot" on google . He recently described the EU, which includes some of America's strongest allies, as a "foe" of the U.S.

Ireland Women See Off Russia In Rugby World Cup Sevens Clash
Dylan Collie scored a try and made a vital tackle in the New Zealand sevens team's World cup semifinal win over Fiji (file photo). Championship quarterfinals: Ireland 0-45 New Zealand , Spain 0-34 Australia, France 24-19 Canada, USA 33-17 Russian Federation .

Putin: Top US spy retracts 'awkward response'
John McCain, R-Ariz., for example, called Trump's performance one of the most disgraceful by a USA president in memory. Trump appeared to answer "no" to a reporter's question asking whether Russian Federation was still targeting the U.S.

Senegal's Sadio Mane handed famous number 10 jersey at Liverpool
Mane previously wore No.19 at Anfield, but has now switched to the new number that has something of a chequered history at the club.

Rory McIlroy Nails Monster Eagle To Roar Back Into Contention
He does not know what I'm working on or what's in my head'. It was nearly a little personal victory, I guess". One guy out of 156 is going to win.

Ritz products recalled over Salmonella concerns
The company that supplies whey powder to the manufacturers of Ritz products recalled their whey powder due to salmonella concerns. The company says there have also been no reports of illness but chose to voluntarily remove out of safety concerns.

Vegas takes wild journey to British Open
Jhonattan Vegas probably isn't enjoying his Open Championship as much as he should be. "There's tons of things you can apply for". The problems started a week ago when he originally started his journey to Carnoustie and realised his visa had expired.

Spieth aims to retain Open title but Woods lurks
The group of players level with Woods at five-under also includes the likes of Zach Johnson , Rory McIlroy and Tommy Fleetwood. Much earlier on, Justin Rose delivered a flawless round of 64, the lowest ever score in Carnoustie's British Open history.