Oil prices were mixed on Thursday as the market weighed up the risk of renewed US sanctions on Iran and plunging Venezuelan output against a backdrop of strong demand, above all in Asia, the world's biggest oil-consuming region.
Venezuela's plunging output comes amid strong demand as well as concerns that supplies from the Middle East, by far the world's biggest oil producing region, could also be disrupted, especially should the United States in May re-impose sanctions against OPEC-member Iran. While French President Emmanuel Macron has proposed a new deal to offer Trump, the markets will need to wait to see if the President will extend the sanction waivers.
Global benchmark Brent crude futures were up 39 cents at $74.39 a barrel at 11:36 a.m. EDT (1536 GMT), while U.S. West Texas Intermediate (WTI) crude slipped 13 cents to $67.92 a barrel.
US President Donald Trump will decide by May 12 whether to restore US sanctions on Tehran, which would likely result in a reduction of its oil exports.
A recent Kotak Institutional Equities report states that the worsening socio-economic conditions in Venezuela, a major crude oil exporter, has led to oil production in the country falling from 2 million barrels per day (mbpd) in August 2017 to 1.5 mbpd in March 2018.
The EIA yesterday reported that US drillers had produced an average 10.586 million barrels daily in the week to April 20, a record-breaking production rate.
US crude oil and gasoline inventories unexpectedly rose last week even as exports hit record highs, the Energy Information Administration said on Wednesday in an overall bearish report that raised some concerns about oversupply.
Horford, Celtics hold off Bucks for 3-2 edge
If just a few of those shots had gone in, the Bucks would not have been in a position where the blown call impacted them as much. The Bucks fed off their home crowd energy in Games 3 and 4 jumping out to big leads in the first quarter in both games.
US crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.
USA crude production rose by 46,000 bpd on the previous week, to 10.59-million bpd.
Futures ended the session 0.2% higher, closing above $68 a barrel for a third time this week.
Oil prices settled slightly higher on Wednesday even though EIA data showed a surprise increase in the crude stockpiles.
Combined exports of crude and petroleum products also hit a weekly record at 8.3 million bpd, of which more than 6 million bpd was from products like gasoline and diesel fuel.
"Market sentiment is turning increasingly bullish towards the commodity", said Lukman Otunuga, research analyst at futures brokerage FXTM.
But they peppered Neal Katyal with presidential power questions and hypotheticals when he rose to argue for the challengers. Chad was on the list of countries targeted by Trump that was announced in September, but Trump removed it on April 10.
Shire's board said it is "considering its position", and stressed that there was no guarantee on any firm offer. Takeda issued a similar statement confirming that an offer had been made, but again with minimal details.
Read Also: Calcutta HC directs State EC to reschedule dates During the clash, Sheikh Dildar was shot by unknown miscreants. There were incidents of violence reported from Malda, Murshidabad, and South 24 Parganas districts too.
The Warriors and the Pelicans will match up in the second round, with Game 1 coming on Saturday (April 28) at Oracle Arena. Lowe speculated that a three-year deal could be the most likely deal for Cousins, though it depends on who's bidding.
He tweeted: "A man has been convicted in a United Kingdom court of making a joke that was deemed "grossly offensive". Comedian Ricky Gervais had taken to Twitter to comment on the case after guilty the verdict.
"In an ideal world, we would have liked to raise even more money and we do expect to receive additional funding this year". She told Middle East Eye: "We can not separate humanitarian aid from the political track".
The praise generated a prompt response from the President himself, who tweeted, "Thank you , Kanye! I just don't agree with it". I don't agree with everything anyone does. "If your friend jumps off the bridge you don't have to do the same".
But in order to make sure its services are used for good, Facebook needs to ensure that its services are used full stop. Facebook noted that it expects European user growth to stall when the EU's GDPR regulations come into affect on 25 May.
Isakson was delivering the eulogy for a friend in Atlanta, and was unable to return to Washington until later in the evening. That's when Democrat Senator Chris Coons said he would vote as present to allow Isakson to rest after attending the funeral.
Ford to Discontinue Almost All its Cars in North America
It is, by far, the company's most dramatic production change in its 115-year history since Henry Ford adopted the assembly line. He said the company will cut $5 billion from capital spending from 2019 to 2022, reducing it from $34 billion to $29 billion.
Dallas officers shot, critically wounded
Police had chased Juarez through the downtown area, and Juarez was shooting at officers during the pursuit, sources said. In a press conference held Tuesday, Dallas police said that a person of interest was 29-year-old Armando Luis Juarez.
Waffle House slaying suspect's court date reset
By the time he was captured in the woods nearby, police had searched his apartment, and found the key fob to the stolen BMW. According to WSMV , a local Nashville station, 29-year-old Travis Reinking's $2 million bond has been revoked by a judge.
Asaram rape case: Jodhpur Court to pronounce verdict today
On July 8 in 2015, a witness, Sudha Pathan turned hostile and told the court that she had no knowledge about Asaram's activities. In the following years, he had lived at a series of ashrams and ran away from home to an ashram in Bharuch at the age of 15.
Irish boost from Mexico trade deal
A government statement says tariffs will be scrapped on Mexican orange juice, tuna, honey, agave syrup, fruits and vegetables, among others.
Sports Minister wants answers over Moses Mabhida incident
Millions of rands of damage was sustained and several people were injured, including a security guard who was rushed to hospital. The 44-year-old returned to Chiefs at the beginning of this season from Cape Town All Stars where he was the head coach.