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Commodities - Crude Oil Settles Higher, Best Performance in 7-Weeks
17 September 2017, 02:13 | Hattie Nash
US Gasoline Inventories' Largest Weekly Drop in 27 Years - Market ...
-The price drop in Asia comes following sharp gains throughout the week as USA oil facilities recover operations post hurricanes.
It was followed by the IEA saying the global oil glut was shrinking, thanks to strong European and US demands as well as production declines in OPEC and non-OPEC countries.
That was followed by the International Energy Agency report in 2017 by 100,000 barrels a day (bpd) to 1.6m bpd, or 1.7%.
The re-balancing of oversupplied world markets is continuing, it said, with Opec supplies falling for the first time in five months and inventories of refined fuels in developed nations subsiding toward average levels.
"Based on recent bets made by investors, expectations are that markets are tightening and that prices will rise, albeit very modestly", the agency said.
- Reuters picNEW YORK, Sept 16 ― Brent oil prices held near five-month highs yesterday and were on track for the biggest weekly gain since late July, on forecasts for rising demand and the gradual restart of United States oil refineries.
The post-Harvey refinery recovery is underway, however, as data earlier in the week from IHS Markit indicated that 13 of 20 affected US refineries were restarting operations.
Oil prices, which have recently received some support from reports about discussions of another possible extension of the OPEC production cut deal, remained stable following the release of the EIA report, with WTI trading at US$48.75 a barrel and Brent crude at US$54.62 a barrel. With the lack of new major project sanctions, the bank analysts expect conventional non-Opec supply to start declining post-2018 and maintain their 2018 and 2019 Brent price assumptions at $65 and $70 a barrel, respectively. It flipped briefly into contango at end August before flipping back into backwardation September 5, and settling at 25 cents/b at the NY close Thursday.
Heroes of the Storm - Assault on Volskaya Foundry
New Heroes character Ana also got a new skin in the content drop announcement, which is actually a skin you can get in Overwatch . Ana and the new Volskaya Battleground are planned to hit the HotS PTR next week, while Junkrat will be joining at a later date.
"On the USA side, steadily declining rig counts of late have raised the possibility of stalled US production gains, with current output still holding below pre-Harvey levels", said Robbie Fraser, commodity analyst at Schneider Electric (PA:), in a note.
In its latest Short-Term Energy Outlook, out on Tuesday, the EIA said that the effect of the supply disruptions on the Gulf Coast will last for a while, which would boost the uncertainty around oil and gas prices in the coming weeks.
"OECD demand growth continues to be much stronger than expected, particularly in Europe and the USA", the IEA said.
Yankees Hit 3 HRs, Back Montgomery In 9-3 Win Over Orioles
Severino (13-6) allowed two runs on three hits and little else while improving to 8-2 in 12 starts since the All-Star break. The Orioles will purchase the contract of LHP Tanner Scott from Double-A Bowie and add him to the active roster Sunday.
FPL estimates power restoration for SWFL
Many of those were homes and businesses that will have to undergo repairs before they are ready to receive electricity again. Irma also broke records at FPL, which had almost 4 million of FPL's 4.90 million customers affected by outages.
Oregon State at Washington State
Oregon State and Washington State are pitted against each other in a 2017 college football encounter on Saturday. A 40-yard fumble return touchdown by Frankie Luvu gave Washington State (3-0, 1-0) its largest lead at 49-16.
Paris named host city for the 2024 Summer Olympics
Paris and Los Angeles were the only competitors left for 2024 after rival cities pulled their bids because of worries over cost. Ensuring the stability of the Olympic Games for the athletes of the world for the next 11 years is something extraordinary.
IPhone X's AppleCare+ Plan Isn't Cheap
Owners of the latter three don't have to pay more because the price of their AppleCare plans will remain the same. Apple is apparently going all out this year - not as much in terms of new features as it is with the price hikes.