Commodities - Oil Prices Firm on Rising US Crude

Commodities - Oil Prices Firm on Rising US Crude

It shipped out nearly 3 million barrels per day of crude in September, equivalent to about 3% of global demand. "Iran sanctions will take another 1 million bpd off the markets", warning that this would leave markets with little spare capacity to deal with unforseen disruptions.

Renewed U.S. sanctions against OPEC member Iran officially went into effect at 12:01 a.m. EDT.

It is expecting the first VLCC to be delivered to Vadinar in Gujarat in November and a second cargo at Mundra in the same state in December. We will monitor this week's figures for another increase in inventory levels which could see oil prices move lower.

In the U.S., nationwide crude stockpiles dropped 1.35 million barrels last week, according to the EIA, while supplies stored in the key hub of Cushing, Oklahoma, slid for a twelfth straight week, declining by 590,000 barrels.

China is slapping additional tariffs of 25 percent on $16 billion worth of US imports, from fuel and steel products to autos and medical equipment. Total natural gas imports, including both pipeline gas and liquefied natural gas (LNG), rose to 7.38 million tonnes during the same period, up 28.3 percent from a year ago, according to customs data.

Spot Brent crude oil futures were at $73.42 per barrel at 0653 GMT on Monday, up 21 cents, or 0.3 percent, from their last close. Prices dropped $2.37 to settle at $72.28 on Wednesday.

US Will Sanction Russia After UK Nerve Agent Attack
The carve-outs will include a - we will have a waiver for the provision of foreign assistance to Russia and to the Russian people. A ban on Aeroflot flights to the United States could lead to a ban on US airlines traversing Russian airspace.

Manafort's lawyers press witness about his own lies, affair, embezzlement
Gates testified that Manafort asked him to float Calk, who was on Trump's economic advisory council, for Secretary of the Army. Prosecutors in Paul Manafort's financial fraud trial say they have eight witnesses left and expect to rest their case Friday.

Samsung showed the Galaxy Note 9 to the announcement
The Samsung Galaxy Tab S4 delivers an experience that helps you work smarter by keeping you operating at the highest levels. The leak confirms that complete with Note 9 in the blue paint will go, the S Pen stylus Golden brown.

Futures for September delivery lost 1.1% to 517.7 yuan a barrel on the Shanghai International Energy Exchange, after falling 2.6% on Wednesday.

Oil prices rose on Tuesday after US sanctions on Iranian goods went into effect, intensifying concerns that sanctions on Iranian oil, expected in November, could cause supply shortages.

China is the biggest and the most valued customer for Iran's oil and imports more than 650,000 barrels of oil per day from Iran. This is something that the market desperately needed, after getting slammed the previous day.

Going forward, China's gas demand is projected by the IEA to rise by 60 percent between 2017 and 2023 to 376 billion cubic meters (bcm), including a spike in its LNG imports to 93 bcm by 2023 from 51 bcm past year.

According to AAA, the current national average pump price per gallon of regular gasoline is $2.865, down by less than a penny from $2.869 a week ago and flat compared with the month-ago price.

Here is a look at how share prices for two blue-chip stocks and two exchange-traded funds reacted to this latest report. Today's WTI trading range is $67.30 - $71.0. A trade spat between the United States and China has kept oil from rebounding from a seven per cent plunge last month.

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