Feb 04 2017
Feb 2 US oil fell on Thursday after official data showed USA crude and gasoline stockpiles rose sharply, although signs that OPEC and other producers are holding the line on output cuts are helping support prices.
The price of April futures for Brent crude oil rose by 0.50 percent and stood at $56.84 per barrel as of 01:34 EST. On the New York Mercantile Exchange, West Texas Intermediate futures gained 0.2% to trade at $52.92 a barrel.
Both Brent crude and WTI prices fell on Thursday after official data showed that USA stockpiles rose by 6.5 million barrels.
A Reuters survey this week put compliance with the OPEC production agreement at 82 per cent, with January output cut by more than one million bpd in January.
Despite the more-than-planned cut in oil production, Russian Federation is expected to quickly roll out output to new post-Soviet record highs once the deal runs its course in June 2017. That brought the total count to 566, the most since November 2015.
Oil Firms on Signs of OPEC Cuts
Russian Federation cut production in January by around 100,000 barrels per day (bpd), according to data seen by Reuters.
Trading of Brent crude had not started. PVM Oil Associates noted the market "is sandwiched between supportive OPEC-led output cuts and the bearish impact of a resurgence in US crude production".
The International Energy Agency's Neil Atkinson said in an interview with US network CNBC that he believes hopes for oil prices gaining to $63-$65 a barrel is probably unrealistic in the near term.
All told, OPEC's output is 550,000 bpd above its target, meaning it is only 60 percent towards reaching the 1.8 million bpd objective - which in itself has been criticized by analysts for being far too little to shrink global oversupply and trigger meaningful market stabilization. Tension between the United States and Tehran is also rising after Iran tested a ballistic missile, raising the possibility of future sanctions that could curb Iranian oil supply. They rose $1.07 to close at $53.88 the day before.
India calls for 'credible crackdown' after Pakistan detains Mumbai attack suspect
The Lahore high court had ordered his release in June 2009 after the government failed to establish a case against him. He has vowed to continue his work and claims his detention was the result on pressure from new U.S.
Trump administration drafts decree to lift sanctions against Russian Federation
Some Republicans who have differed with Trump on Russian Federation , including Sens. "There goes that relationship!" he joked. The two massive personalities have sparked comparisons to Cold War-era brinkmanship between the US and the old Soviet Union.
Madeleine Albright, and Mayim Bialik Stand Up to Muslim Ban
At the Women's Global March last weekend, Albright declared: "If you force Muslims to register, we will all register as Muslims". Trump's answer was indirect and focused mainly on building a wall along the Mexican border.
Feb 03 2017
Ukraine: Fighting flares up in eastern town of Avdiivka
A ceasefire specified in the 2015 Minsk agreement held until late December, and the conflict has been escalating since then. Ukrainian President Petro Poroshenko has cut short an official visit to Germany.
Jan 31 2017
CHELSEA boss CONTE says patience is needed on Begovic and Ivanovic destinies
A 4-0 victory over Brentford in the FA Cup fourth round on Saturday appeared routine, with Willian, Pedro Rodriguez, Branislav Ivanovic, and Michy Batshuayi scoring.
Jan 31 2017
All-Star weekend offers NHLers a chance for memories and memorabilia
Washington Capitals and Metropolitan goaltender Braden Holtby provided the ultimate compliment in evaluating the finale. Two teams play 20-minute games of three-on-three hockey, with the winners advancing to another 20-minute final game.
Jan 30 2017
Oscar nominated actress Emmanuelle Riva has died aged 89
Riva was Oscar-nominated for her role in " Amour ", Michael Haneke's brutal depiction of an aging couple. French President Francois Hollande said via statement that the actress "deeply marked French cinema".
Jan 29 2017
Robin Thicke's Domestic Abuse Problems: The Ryan Report
She filed a declaration with the courts this week, stating that she "never found any spankings to be excessive in any way". Fast-forward to today where the two sought temporary sole custody over Julian in a Los Angeles courtroom.
Jan 29 2017
Al-Shabaab fighters take control of Kenyan military base in Somalia
In a statement KDF said that they were able to repulse the militants and has retaken back the camp. The Kenyan military is yet to give details of casualties during the said night.
Jan 28 2017
Woman Miraculously Survives Without Lungs For Nearly A Week
Dr Marcelo Cypel, the thoracic surgeon on call, kept weighing the risk of her death versus the risk of removing both of her lungs. But she still has a way to go in her medical journey. "That told us that the concept is right".
Jan 28 2017
Sunny the Red Panda: Missing Since Tuesday From Zoo in Norfolk
Thank you to staff & volunteers who worked diligently today searching for Sunny, our missing Red Panda. The World Wildlife Fund estimates fewer than 10,000 red pandas are left in the world.
Jan 27 2017
Japan launches first X-band defence communication satellite
Japan kicked off 2017 with the successful launch of a military communications satelite on an H2A launcher on 24th January. The ministry says it is the first of three satellites that will replace three civilian ones now used by Japan's military.
Jan 27 2017
Knicks And Cavaliers Talk Carmelo Anthony Trade, Other Possible Destinations For Melo
The Cavaliers are reportedly among his preferred landing spots along with the Los Angeles Clippers and Los Angeles Lakers. Anthony makes $24.6 million this season and has $54 million remaining over the next two years of his contract.
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