Jun 09 2017
Brent crude oil futures briefly rose above US$50 per barrel in early trading, but had dipped back to US$49.94 by 0040 GMT.
U.S. West Texas Intermediate crude futures fell 84 cents to $47.54 per barrel.
Trump's withdrawal from the Paris agreement, the landmark 2015 global pact to fight climate change, drew condemnation from Washington's allies and many in the energy industry - and sparked fears that US oil production could expand more rapidly than it is now.
Some commodity markets were also absorbing news that President Donald Trump said he would withdraw the United States from the landmark 2015 global agreement to fight climate change, a move that fulfilled a major campaign pledge but drew condemnation from us allies and business leaders.
"This outcome could increase the supply-side equation from the United States and complicate OPEC's forward projections".
Another understanding was that Saudi Arabia would have to act decisively as it can't survive lower oil price with a large budget deficit.
Investors have returned their focus to rising production, with US average daily output last week hitting its highest level since August 2015.
Oil slid last week after the agreement by the Organization of Petroleum Exporting Countries and its allies to prolong output curbs for nine months disappointed some investors hoping for more.
Halep advances to French Open quarterfinals
It's not like you're going to get it for free. "I stayed there until the end, even if I was a little bit upset during the match". Adding to that, in his Grand Slam career, Kevin Anderson has saved 65.6% of the break points he has faced.
United States report warns of China military development overseas
That region accounted for $9 billion of the more than $20 billion in Chinese arms exports from 2011 to 2015. The South Asian country is already a major destination for Chinese arms, the report said.
London mayor tells AP he doesn't care about Trump tweets
"I just haven't got time to respond to tweets from Donald Trump ". "You should be alarmed ", Eric Trump told ABC News. But British Prime Minister Theresa May said Khan was doing a "good job", echoing public sentiment across London.
But Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance, said the USA decision to walk away from the climate agreement was not likely to impact oil markets.
Futures are down some 9 percent since OPEC's May 25 decision to extend the cuts.
OPEC last week discussed reducing output by a further 1 to 1.5 per cent, and could revisit the proposal should inventories remain high, sources told Reuters.
Still, oil markets received some support from official United States of America data that showed the country's crude inventories fell sharply last week as refining and exports surged to record highs.
Crude stockpiles were down by 6.4 million barrels in the week to May 26, compared with analysts' expectations for a decrease of 2.5 million barrels.
In the same period Brent rose more than 7.5%while WTI gained 10.10%.Oil analysts have grown more downbeat about the outlook for crude and expect prices to average around $55 a barrel this year even after OPEC and its partners agreed to restrain production into 2018, a Reuters poll of analysts showed on Friday. The African producer now cranks out around 830,000 barrels a day, a huge jump compared with the sub-300,000 barrels a day seen in last July. "But crude production is slowly but surely going to neutralize the (OPEC-led) production cut", said Sukrit Vijayakar, director of energy consultancy Trifecta. US producers aren't part of the output agreement.
Prices came under renewed pressure during European trading with fresh consideration of President Trump's overnight decision to withdraw the United States from the 2015 Paris Climate Accord.
Jun 08 2017
One Love Manchester concert raises almost $3.5 million
Taylor was one of around 50 Durham Police officers sent to assist Greater Manchester Police colleagues at the concert. She delighted the audience with her emotional rendition of Judy Garland's " Somewhere Over the Rainbow ".
Jun 08 2017
Cosby accuser to resume testimony in sex assault trial
Cosby claims the relationship was consensual. "I was panicking a little bit but I knew I couldn't really get up", she said. The defense has pointed out that phone records show Constand called Cosby 53 times after she says he assaulted her.
Jun 08 2017
Putin warns no one would survive nuclear war between Russia, US
Stone met with the Kremlin leader for his documentary called, " The Putin Interviews ", Bloomberg reported . Chechnya have rounded up, tortured and even murdered individuals who are believed to be gay".
Jun 08 2017
Sher Bahadur Deuba elected Nepal's prime minister for fourth time
A second phase of local election to choose municipal and village council officials is scheduled for June 28. The second round of voting has been delayed twice, but did not impede Deuba's appointment.
Jun 07 2017
Spicer won't say whether Trump has confidence in Sessions
Trump's Twitter usage has been a cornerstone of his presidency, offering a window into his thinking, sometimes at the expense of his administration's messaging.
Jun 07 2017
Burling up-beat after Team NZ capsize
But all four teams were challenged by the conditions, with gusting winds causing at least some degree of damage to every boat. Ainslie's Land Rover BAR crew pulled up on the third of seven legs after the camber arm in the high-tech wing sail broke.
Jun 07 2017
Nebraska girl's soccer team disqualified because she 'looks like a boy'
And Billie Jean King, once a top women's tennis player, tweeted , "Mili, continue to be yourself, dream big and go for it. "Listing a male player on a girls team roster is a violation of state and tournament rules", said the soccer club.
Jun 06 2017
Ravens Sign Cornerback Al-Hajj Shabazz
Boykin spent time with the Carolina Panthers and Chicago Bears in 2016, but hasn't appeared in a regular-season game since 2015. The move comes four days after Baltimore lost starting cornerback Tavon Young to a season-ending torn ACL.
Jun 06 2017
Goldman Sachs USD2.8 Bn Venezuelan bonds purchase creates uproar
According to Reuters , Goldman Sachs acquired the bonds from New York-based investment firm Dinosaur Financial Group. Likely the most frustrating aspect for Goldman is the fact that they didn't even buy the bonds from the government.
Jun 04 2017
Horgan urges Clark to recall legislature, citing softwood, drug crisis
After negotiations with both the Liberals and the NDP, the Greens chose to side with John Horgan's NDP. If Clark can't win the confidence of the legislature, she would be expected to resign.
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Jun 07 2017Backed Syrian Fighters Launch Offensive On Raqqa
Jun 07 2017Apple teases 'seriously badass' iMac Pro and other new Macs at WWDC
Jun 06 2017Grande returns to Manchester to honor victims with benefit
Jun 05 2017Trump wants fair deal for Americans under Paris agreement: WH
Jun 04 2017London Bridge Closed Following Reports That Vehicle Plowed Into Pedestrians
Jun 09 2017Child found in IL garage may have been killed in 2013
Jun 08 2017German music festival evacuated over terror threat
Jun 08 2017Envoy Haley says US won't let the UN 'bully' Israel anymore
Jun 08 2017Senators to ask about Trump pushback on Russia investigation
Jun 07 2017England reach ICC Champions Trophy semi-finals with victory over New Zealand
Jun 07 2017Tim Cook Says Apple Is Working With UK In Terror Investigations
Jun 07 2017Can't resist texting while driving? Apple wants to make you stop
Jun 06 2017Russian agents 'hacked USA voting system manufacturer before election'
Jun 06 2017Hamm extends invitation to girl humiliated at youth tournament
Jun 05 2017Warriors defeat Cavaliers to take 2-0 lead in NBA Finals
Jun 05 2017Vladimir Putin wonders if US hackers framed Russian Federation during presidential election
Jun 04 2017China's Li appeals to Germany for help with certifying C919 jet