Oil retreats after hitting 2015 highs

Oil buoyed by drop in number of US drilling rigs

Oil buoyed by drop in number of US drilling rigs

Brent crude, the worldwide benchmark, was unchanged at as high as $68.2. The spread between the benchmarks widened throughout the year, as Brent responded to the drawdown in supply from major world producers while US output continued to grow.

Oil prices retreated from their highest level in 2.5 years on Friday as surging US production appeared to offset supply fears stoked by anti-government rallies in Tehran. "You're seeing a little bit more of a bullish push-up in the price of oil", Mark Watkins, a Park City, Utah-based regional investment manager at U.S. Bank Wealth Management, which oversees $142 billion in assets, said by telephone. That was 6 cents below their last close, though still near the $62.21-high reached the previous day, which was their strongest since May 2015, Reuters said.

Balancing the trend towards a tighter market is higher production in the United States, where the OPEC-led effort to push prices up is spurring more shale oil output.

Auckland weather bomb threatens second straight washout day at ASB Classic
It was finally in the eighth game that Wozniacki was able to convert her third breakpoint chance to level the set at 4-4. "I didn't know what kind of performance I was going to put in this week, whether I was going to do well", he said.

Heating oil futures slumped after the report, but slowly recovered, and were down 0.5 percent to $2.0711 per gallon. American crude inventories slipped by 7.42 million barrels last week as refiners boosted operating rates to the highest level in more than a decade, signaling strong demand, the Energy Information Administration said on Thursday.

U.S. crude oil inventories continued to fall in the week to December 29, with a new decline of 7.4mn barrels (mbs) to reach 424.5 mbs, which is very close to the five year average of 420 mbs.

"The protests don't put crude oil production at risk; from that perspective it is sort of a moot geopolitical factor", said Sarp Ozkan, analyst at Drillinginfo.com in Denver.

Mohammed Salah dedicates award to African children
Salah dedicated the award to the children of Africa and Egypt, urging them to follow their dreams and belief. Egypt has produced great players among others Mohamed Aboutrika, Hossam Hassan and Ahmed Mido.

Some traders may also be questioning the validity of the rally since the unrest in Iran is expected to have no impact on the OPEC member's ability to produce oil.

OPEC, supported by Russian Federation and other non-members, began to reduce output a year ago to remove a glut built up in the previous two years.

Taken in this context, it could be argued that OPEC in 2018 is in fact shaping up to have the same amount of cutback cheaters that impacted its efficacy in 2017 and caused it to extend its reduction deal through this year. USA production rose to 9.78 million barrels in the last week.

Brilliant Kyrgios too good for Dimitrov
After that, he appeared to move more freely and didn't expect it to trouble him at the Australian Open beginning January 15. It was a fourth title for the enigmatic 22-year-old Australian, and his first since 2016.

Recommended News

  • Brad Pitt I'll Pay 6 Figures For Emilia Clarke!!!

    Brad Pitt I'll Pay 6 Figures For Emilia Clarke!!!

    The final bid at the silent auction at Sean Penn's annual gala for Haiti was United States dollars 160,000. And that's when Pitt raised his own bid to $120,000.

    Iran confirms its oil tanker incident, says 30 citizens missing

    According to China's Ministry of Transport the tanker, named Sanchi , hit the Chinese ship, CF Crystal , at around 8pm last night. The 274-meter-long oil tanker SANCHI , owned by an Iranian shipping company, was heading to South Korea with its cargo.
    Late-Night Hosts Are Campaigning for Trump's 'Most Dishonest & Corrupt Media Awards'

    Late-Night Hosts Are Campaigning for Trump's 'Most Dishonest & Corrupt Media Awards'

    Trump has continued to attack mainstream outlets like the "failing" New York Times , even while he gives them interviews. But President Trump isn't one to be overshadowed, so he's getting in on the awards show action himself.
  • On Live TV, Debra Messing Chastises E! About Gender Pay Inequity

    On Live TV, Debra Messing Chastises E! About Gender Pay Inequity

    "I was so shocked to hear that E! doesn't believe in paying their female cohost the same as their male cohost", Messing said. The 49-year-old was asked by Giuliana Rancic why she was wearing black, and her response raised some eyebrows.
    Meryl Streep Brings Activist Ai-jen Poo to Golden Globes 2018!

    Meryl Streep Brings Activist Ai-jen Poo to Golden Globes 2018!

    Also, like CarterMatt on Facebook to get more updates on this show and some others we cover. She also received the Presidential Medal of Freedom.
    Amit Shah lashes out at Left Front government in poll-bound Tripura

    Amit Shah lashes out at Left Front government in poll-bound Tripura

    Shah warned the ruling CPI (M) that any attempt by them to trigger violence in the run-up to the polls would not be spared. The rate of crimes against women is very high, the rule of law does not exist.
  • What the Sessions Memo Means for Hemp, Medical Marijuana and You

    The memo also protected states from federal prosecution under the controlled substance act. Still, the Justice Department, under President Barack Obama, took a hands-off approach.

    Nintendo Switch makes history in the US

    This greatly cuts down on the console wars of the past and focuses more on the true features of a console. Fortunately for Nintendo, those people were completely wrong and the Nintendo Switch did very well.
    Tbilisi Court Sentences Georgian Ex-President Saakashvili to 3 Years in Absentia

    Tbilisi Court Sentences Georgian Ex-President Saakashvili to 3 Years in Absentia

    While the Georgian government has sought his extradition for years, his troubles in Ukraine make that prospect more likely. Viktor Yanukovych, who fled to Russian Federation after his ouster in February 2014.
  • Man arrested for stalking Sachin Tendulkar's daughter Sara

    Man arrested for stalking Sachin Tendulkar's daughter Sara

    Admitting that he had made several calls, Debkumar argued that there was nothing wrong in his desire to marry Sara. He was produced before a district court and on Monday he will be taken to Mumbai for further investigation.
    Those turtles and iguanas aren't dead. They're just really cold

    Those turtles and iguanas aren't dead. They're just really cold

    Temperatures are expected to rise this week, which means that the rescued turtles could be released back into the ocean by Friday. Wildlife officials are asking boaters to be extra vigilant and to avoid areas where large numbers of manatees have gathered.
    Four power-lifters killed in road accident near Delhi-Haryana border

    Four power-lifters killed in road accident near Delhi-Haryana border

    While another person identified as Rohit (23) suffered minor injuries and is still recuperating at the hospital. The auto was moving at a high speed and the accident took place after the driver lost control of the vehicle.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.