Oil climbs above $62 amid producer promises to support markets

US WTI crude for March delivery was up 73 cents or 1.2% at $62.41 a barrel by 11.30am after earlier touching its highest since 7 February

After Brent crude shot above $70 in late January, Oil Minister Bijan Namdar Zanganeh of Iran - an OPEC producer that often used to agitate for higher prices - said that $60 was sufficient.

"Benign stock markets are providing.as are geopolitical tensions in the Middle East", Commerzbank said in a note.

MCX Crude oil futures ended up 0.82% at Rs 3940 per barrel in last session.

The rising US crude output, however, continued to weigh on the market.

Trading is expected to be slower than usual due market holidays in the United States as well as Greater China and India.

Another factor helping to boost prices is the technical momentum created by last week's rally.

Canada's Sharpe win freestyle halfpipe gold
Sharpe is deeply competitive in a way that can only be honed from a young age growing up with and trying to outdo two brothers. Tragically, Burke died in January, 2012, when she ruptured an artery that supplies blood to the brain during a training crash.

Falling temperatures to bring brief return to winter weather overnight
The NWS has put the entire listening area into a winter weather advisory again tonight from 9 p.m. until 9 a.m. There is a chance of more precipitation late Thursday through Sunday , with a snow-freezing rain mix possible.

Has Prime Minister Abe Fallen into North Korea's Olympic Propaganda Trap?
The story described Jong as North Korea's equivalent to Ivanka Trump and suggested she had "struck a chord" with the public. However, he stressed that no incentive was being offered to get Pyongyang to come to the table.

"Though the market likes OPEC and its allies' show of unity, we still need to see how USA shale companies will react on higher prices and eventually offset all the efforts of OPEC and others to reduce inventories". "It's more so that WTI has been rising and Brent's kind of stayed flat.it doesn't make the exporting of oil out of the U.S.as attractive", said Rob Thummel, portfolio manager at energy investment manager Tortoise Capital in Kansas City, Missouri.

In addition, the number of installations for drilling oil wells in the US last week increased by 7 pieces to 798 - the highest value since April 2015, the data of the oil service company Baker Hughes showed on February 16. This marked the first time since June that drillers added rigs for four consecutive weeks.

Money managers slashed their bullish bets on Brent crude futures by the most in almost eight months in the week to February 13, InterContinental Exchange data showed.

Data from the Commodity Futures Trading Commission for last week showed that speculative long positions for Brent futures - those backing price gains - were further reduced. I don't think we're going to see a spike to the upside unless there is a direct effect on supply.

Gold has gained $112 an ounce since mid-December and despite culling positions in recent weeks large-scale speculators on derivatives markets like hedge funds have almost doubled net long positions - bets that gold will be more expensive in future - since then.


  • Turkey will confront Syrian troops entering Afrin to protect Kurds - FM

    Turkey will confront Syrian troops entering Afrin to protect Kurds - FM

    Jia Kurd said the agreement reached with Damascus was purely military and that no wider political arrangements had been made yet. The White House said it was aware of the reports but could not confirm them. "It is false and has no relation with the truth".
    Glastonbury Festival to stand by Oxfam amid sex worker scandal

    Glastonbury Festival to stand by Oxfam amid sex worker scandal

    Oxfam also vowed to quickly publish its 2011 internal investigation into staff involved in sexual and other misconduct in Haiti . The scandal is a major blow to Oxfam, which relies on public and corporate donations as well as government funding.
    President Buhari congratulates South Africa's Cyril Ramaphosa

    President Buhari congratulates South Africa's Cyril Ramaphosa

    Speaking on eNCA, Maimane said that, instead of summits, South Africa required decisive leadership and bolder action. Matamela Cyril Ramaphosa was born in 1952 in Johannesburg, to a police sergeant and a domestic worker.
  • Palestinian leader goes to the United Nations  to counter U.S.  on Jerusalem

    Palestinian leader goes to the United Nations to counter U.S. on Jerusalem

    However, she warned Abbas "we will not chase after you". "Abbas said nothing new", Netanyahu scoffed. The choice, Mr President, is yours", Haley said.
    Olympics: Czech hockey team defeats Canada 3-2 in shootout

    Olympics: Czech hockey team defeats Canada 3-2 in shootout

    The South Korean players said afterward they truly believed they could take this one, even when no one else had such faith. Wojtek Wolski scored for Canada but Koukal lifted a backhand shot over Scrivens to level after two rounds.
    Wales hit by strongest quake in 100 years

    Wales hit by strongest quake in 100 years

    Footage taken at Swansea University, near the epicentre of the quake, shows students and staff outside the campus. An incredible, rare quake has struck Wales and southwest England measuring 4.2 on the richter scale.
  • Dagestan: 5 women killed, 4 injured in Orthodox Church shooting

    Dagestan: 5 women killed, 4 injured in Orthodox Church shooting

    The church in Kizlyar on Monday held a service in memory of the victims while all Orthodox churches in Dagestan boosted security. Khalilov was shot dead by police while trying to leave the scene, and his wife has been detained for questioning.

    Led forces 'killed, hurt 300 Russians' in Syria

    Russian Foreign Ministry spokeswoman Maria Zakharova emphasized, however, that the five victims weren't Russian servicemen. Canikli said he presented documents to Mattis proving "organic" links between the YPG and Kurdish rebels in Turkey.
    Jennifer Lawrence sobbed at Amy Schumer's wedding: 'It was beautiful'

    Jennifer Lawrence sobbed at Amy Schumer's wedding: 'It was beautiful'

    The wedding reportedly had a relaxed, beach vibe, but Lawrence wasn't down to get sand in her shoes for Schumer's big day. Amy Schumer said yes to the first dress she tried on. "It was very sudden, but.I was sobbing the whole [time]".
  • Plane carrying 66 people crashes, killing everyone on board

    Plane carrying 66 people crashes, killing everyone on board

    Iran Air Crash has reportedly left all the 65 people dead in one of the most deadly air accidents in the recent time. The United Nations said Secretary-General Antonio Guterres joined world leaders in expressing sorrow over the crash.
    PNB fraud: UCO Bank says has $411.82 mn outstanding exposure

    PNB fraud: UCO Bank says has $411.82 mn outstanding exposure

    The CBI has also filed a fresh FIR against Choksi and Gitanjali Gems , the company he promoted, PTI quoted officials as saying. The Special Court observed that the charges leveled against the accused were "very serious" and sent them in police custody.
    NJokic makes history as Nuggets enter All-Star break with win

    NJokic makes history as Nuggets enter All-Star break with win

    Wilson Chandler finished with 11 points and Trey Lyles came off the bench to score 12. "Maybe I'm a little bit (more) aggressive". Giannis Antetokounmpo also recorded a triple-double with 36 points, 11 rebounds and 13 assists for the Bucks.


Latest news

Winter Olympics 2018: Curler's doping charge rocks Games
Hamilton said he felt for the other Russian athletes and how this scandal may affect them. The IOC suspended the Russian Olympic Committee in December, over systematic doping.

Ice Storm Warning issued for Kansas City, surrounding counties
Wednesday and part of Thursday in the Council Bluffs-Omaha area will be mostly sunny with highs in the mid-20s to mid-30s. After midnight, heavier bands of rain will move across the region and continue into tomorrow morning.

He's looking good: Zidane thrilled with Ronaldo
On the back of the 3-1 win over PSG, Madrid roared back with three goals in 15 minutes after the restart. We got off to a very good start, then I don't know quite what happened.

Idea, Vodafone cut unlimited pack price to Rs 150 range
The Rs 109 plan is now available for only a few markets like Gujarat, Andhra Pradesh, Telangana , Haryana, Bihar and Delhi NCR. Under the new Rs 109 plan, Idea is offering unlimited voice calling benefits, along with 1GB of 4G or 3G data every day.

US man breaks thumb off terracotta warrior statue; furious China demands compensation
The Terracotta Army was built by the Chinese emperor Qin Shi Huang in the third century BCE to protect him in the afterlife. Authorities said the man, later identified as Michael Rohana, then went for a more permanent memento.

Angels sign Chris Young to one-year deal
However, because the deal has yet to be finalized, the specifics surrounding such a pact have yet to come to light. Gennett hit.295 previous year and set career bests with 27 homers and 97 RBIs in his first season with the Reds.

Uber to introduce service across Japan by around 2020: CEO
That's a turnaround from previous boss Travis Kalanick who largely left the country in the hands of a country manager. Sony says it's working on creating a platform that will allow other taxi operators to participate as well.

Samsung Galaxy A8 and Galaxy A8+ now available at B&H
Samsung's Galaxy S9 is going to be a top-tier phone, which means it generally features a slick design and bleeding-edge features. Samsung Galaxy S9 is also likely to mark Qualcomm Snapdragon 845 processor paired with 6GB RAM and 64GB internal memory.

Watson grabs one-shot lead at Riviera
Sunday will be the first time he has had the lead going into the final round since that event. I need a couple of Advil. "I've got a headache after all that".

Auburn's Anfernee McLemore Stretchered Off Court After Horrific Ankle Injury
McLemore said. "Doctors said I dislocated my ankle, fractured my tibia, and will need surgery for some torn ligaments". They've beaten three top-25 opponents in No. 18 Kentucky, No. 20 Florida and now, the 10th-ranked Tigers.

Winter Weather Advisory issued until 1 pm Saturday
Monday night as arctic high pressure settles over the state, lows will range from -10 to perhaps colder than -30 in a few spots. The National Weather Service says multiple winter systems will bring heavy winds and waves of snow to the Inland NW.

Nathan Chen Fails to Medal in 2018 Olympic Men's Singles Competition
Hanyu's sensational performance in the short program, where he scored 111.68 points, meant he was favorite to win gold . But on the final night of the competition, Chen produced the performance of his life to fall just short of the medals.

Ethiopia declares state of emergency
The government previously imposed a state of emergency in October 2016, which was lifted in August previous year . That state of emergency led to the arrest of more than 22,000 people and severely affected business .

Four Israeli Soldiers Wounded in Gaza Border Explosion
Also during the strikes an IDF tank opened fire on a group of Palestinians approaching the border in a "suspicious manner", the army said.

Former Playmate Claims She Had Affair With Trump, Details Cover-Up Attempt
She drove separately from the President to the US Capitol to attend the State of the Union address on January 30. When he would travel with McDougal, he would have her book and pay for her own flights before reimbursing her.

Other news