Jan 10 2018
U.S. West Texas Intermediate (WTI) crude futures had risen to US$61.67 a barrel by 9:22 a.m. ET, 23 cents USA above their last settlement. Brent hit $68.27 high last week, the highest since May 2015.
Unrest in Iran, OPEC's third-largest producer, has lent support to prices this year although output and exports have not been affected. Reinstating economic sanctions could limit Iran's oil exports.
Mr. Trump's decision comes on the heels of antigovernment protests in Iran last week, which also boosted the price of crude.
Supply reports this week from industry group the American Petroleum Institute and the US government's Energy Information Administration are expected to show USA crude stocks fell 3.9 million barrels, an eighth week of decline.
"The fact that the crude benchmarks are establishing highest levels since spring of 2015 on very little fresh fundamental input continues to suggest a strong market underpinning", said Jim Ritterbusch, president of Ritterbusch & Associates, in a Tuesday note.
A key U.S. government report on Wednesday is expected to show crude stockpiles dropped for an eighth straight week.
"We expect oil demand growth to outpace non-OPEC supply growth in both 2018 and 2019", analysts stated.
Oil Prices Hit Three-Year Highs on Growth, Geopolitics
On Tuesday, the price of oil climbed higher reaching its highest level seen since May 2015, propped up by OPEC-led production cuts and the belief that US crude inventories have fell the eighth week in a row.
"Production cuts and demand are continuing to rebalance the market".
The agreement, which was implemented at the start of 2017, was meant to rein in the global supply glut and raise prices.
US oil and gas production will continue to increase in 2019 as well, to the chagrin of OPEC and Russia-major exporters looking to curb production and reduce competition from American shippers.
In its Short-Term Energy Outlook, released Tuesday, the agency said it expects USA production to break above 11 million barrels per day in November 2019.
Despite this, US production is expected soon to rise above 10 million barrels per day, largely thanks to soaring output from shale drillers.
Futures advanced 0.5 percent on Monday, settling near $62 a barrel in NY.
Senior Egyptian Intelligence Officer Asks TV Hosts to Accept US Jerusalem Announcement
In response to Trump's move, Egypt publicly said the decision was a violation of worldwide resolutions on the city's status. Jerusalem's status has always been one of the main obstacles to a peace agreement between Israel and the Palestinians.
President Trump Signs Order Disbanding Voter Fraud Commission
Jon Husted has said voter fraud does exist in OH , but it's rare. The email's subject line was "Dissolution of the Commission". Undoubtedly, this is the case in most other states.
Assam's first draft of NRC identifies 1.9 crore as Indian citizens
Not only should the remaining part of the exercise be fast-tracked but they (officials) also need to be extra vigilant, he said. So there is a possibility that some names within a single family may not be there in the first draft", said Hajela.
Jan 09 2018
American Red Cross makes urgent request for blood and platelet donations
A local organization is seeking blood donors after their supply dipped extremely low at the start of the new year. More than 150 drives were canceled across the country, including 10 in NY just last week.
Jan 09 2018
Ally Sheedy calls out Golden Globes for James Franco win
This was in reference to an incident when James Franco tried to pick up a 17-year-old girl on Instagram in 2014. At one point during the news cycle, he tweeted, "I HOPE PARENTS KEEP THEIR TEENS AWAY FROM ME".
Jan 09 2018
Firefighters respond to blaze at Trump Tower
A New York Fire Department spokesperson explained: "We had one minor injury to a firefighter - some debris fell on him. Fire trucks could be seen outside of the building just after 7 a.m.as smoke wafted off the roof.
Jan 08 2018
Unhappy Farmers Dump Potatoes Outside CM Adityanath's Residence, Police To Take Action
Keeping the tirade going against the Congress government, Yogi said law and order had completely collapsed here. He accused the state government of stalling development projects to divert the funds to the Congress's coffers.
Jan 07 2018
John Young, US astronaut and pioneer, dies aged 87
Young began his career at NASA in 1962, when he was selected from hundreds of young pilots to join NASA's second astronaut class. NASA later rebuked Young for the antics, which generated criticism from lawmakers and the media, but his career did not suffer.
Jan 07 2018
KMart closing in Rutland in early April
As the rise of e-commerce spearheaded by Amazon and Walmart continues, businesses like Sears Holdings aren't keeping up. Sears Canada filed for bankruptcy previous year , and is in the process of shuttering its business entirely.
Jan 06 2018
LG Introduces Compact 4K Projector That Can Create 150-inch Screen
With the LG HU80KA, you will get a cinematic experience, from the 4K picture quality, and the projector still being portable. The projector has received the coveted CES 2018 Best of Innovation award and is being featured at the tech show next week.
Jan 06 2018
'Jeopardy!' On Hiatus As Alex Trebek Recovers From Brain Surgery
Trebek has hosted more than 7,600 episodes of Jeopardy! since he first joined the show in 1984. Longtime " Jeopardy! " host Alex Trebek revealed he underwent brain surgery late past year .
Jan 05 2018
Justin Timberlake Drops "Filthy" Video, Channels Steve Jobs
Justin Timberlake released the lead single to his fourth studio album earlier this morning titled " Filthy ". Justin Timberlake applied a special condition on his new song "Filthy": that it be played "very loud".
Dec 31 2017
Snow Showers Falling, Will Spread Eastward as Afternoon Goes on
This is all upstream moisture will should produce steady snowfall all day Friday , Friday night and into most of Saturday . A winter storm has descended upon Montana, bringing heavy snowfall and extremely low wind chills.
Jan 10 2018Paul Ryan says bipartisan talks are ongoing to address DACA
Jan 09 2018Google faces racial discrimination lawsuit from fired engineer
Jan 08 2018Trump postpones his 'fake news' awards
Jan 07 2018Injured Dale Steyn may miss rest of Test series
Jan 07 2018Coutinho to join Barcelona from Liverpool in deal worth $192 million
Jan 06 2018My Next Guest Needs No Introduction With David Letterman | Trailer [HD] | Netflix
Jan 02 2018Six days of Iran protests: 20 dead, 450 arrested
Jan 01 2018Man Arrested With Guns, Ammo in Houston Hotel Room
Dec 30 2017'Tiger Zinda Hai' gives tough competition to 'Baahubali 2' on Box Office
Dec 30 2017County Unemployment Rates Remain Low Across Tennessee
Jan 10 2018Ibuprofen May Affect Men's Sexual Health, Study Finds
Jan 09 2018Princess Charlotte Looks So Big In New Nursery School Photos
Jan 09 2018Billionaire Democrat, Tom Steyer to oust Trump, Republicans
Jan 09 2018GoPro Cuts Hundreds of Jobs, Stock Falls 25 Percent
Jan 09 2018Pink will sing national anthem at Super Bowl
Jan 08 2018Transport workers in TN reject Madras HC direction to call off strike
Jan 05 2018Apple: Mac And iOS Vulnerable To Meltdown And Spectre Flaws
Jan 05 2018Chelsea 'on brink of signing Ross Barkley from Everton'
Jan 01 2018Final observations: Cowboys 6, Eagles 0
Jan 01 2018Terrorists storm CRPF camp in J&K's Pulwama, jawan killed
Dec 31 2017Liverpool Prospect Reveals The Disgusting Racist Abuse He Suffered This Year
Dec 31 2017Arrest after police shoot man dead responding to hoax 'swatting' call