IEA warns of oil price rise as sanctions on Iran bite

14 Septembre, 2018, 01:48 | Auteur: Auguste Feret

Oil futures rose on Wednesday, with Brent reaching $80 a barrel, after a larger-than-expected drop in United States crude inventories and as U.S. sanctions on Iran added to concerns over global oil supply.

US crude inventories fell 5.3 million barrels in the week to September 7 to 396.2 million barrels, the lowest since February 2015 and about 3 per cent below the five-year average for this time of year, the US Energy Information Administration (EIA) said on Wednesday.

Oil traders were also watching the progress of category 4 Hurricane Florence, which is expected to make landfall in the USA by Friday.

Brent crude futures were last down 23 cents on the day at $78.83 a barrel by 3pm, having touched a session peak of $79.66, the highest since late May, when the price broke above $80.

US crude stocks fell 5.3 million barrels in the week to September 7 to 396.2 million barrels, the lowest since February 2015 and about 3 percent below the five-year average for this time of year, the US Energy Information Administration (EIA) said on Wednesday.

The Persian country will by November 4 see a slew of countries already abandoning oil supply contracts and the rest scrambling for alternatives as crushing USA sanctions on Iran threaten to impose additional sanctions on those defying the ban on crude imports from the country.

Katherine Langford Lands Lead in Netflix's 'Cursed' | Casting, Katherine Langford, Netflix
I inherited a collection of antique children's books from my mother, and I've always wanted to have a crack at it myself. No word yet on when the series will land on Netflix .

MVP Stewart leads Seattle Storm to sweep of Mystics, 3rd WNBA title
Head Coach Dan Hughes is celebrating his first league title after previously leading two other WNBA teams to the playoffs. Geno Auriemma wouldn't miss this for the world.

Judges rule that United Kingdom mass surveillance violated human rights
The court gave Britain, which is in the process of altering legislation on the issue, three months to decide whether to request an appeal hearing.

"We think oil market fundamentals are increasingly supportive of crude prices, at least at current levels", said Gordon Gray, HSBC's global head of oil and gas equity research.

With Middle East crude markets also tightening because of the USA sanctions against Iran, many Asian refiners are seeking alternative supplies, with South Korean and Japanese imports of US crude hitting a record in September. "This is a huge uncertainty on the market - how countries, which buy nearly 2 million barrels per day of Iranian oil, will act".

In its monthly report, OPEC said world oil demand next year would rise by 1.41 million barrels per day (bpd), 20,000 bpd less than last month and the second consecutive reduction in the forecast.

S&P global Platts said OPEC, in a report, indicated demand for the organization's own crude oil in September will be nearly 1 million bpd more than the level produced in August.

"Second-largest producer Iraq boosted its output 90,000 bpd to 4.65 million bpd". Ahead of the sanctions, South Korea has become the first of Iran's top three oil importers to drop imports to zero after halting purchases in August from 194k barrels in July.

But it said rising demand could also be checked.

Conseillé:

  • Evacuations in U.S.  ahead of Hurricane Florence

    Evacuations in U.S. ahead of Hurricane Florence

    Services and flights have been suspended on Thursday and Friday at Wilmington International Airport on North Carolina's coast. Our job today is to get any kind of clues about where the storms is going - the fine tuning just before landfall.

    " "Cyril Hanouna est-il vraiment " en progression " sur un an — TPMP (audiences)

    Pour satisfaire ses fanzouzes , Baba a donc annulé la météo de Bertrand Chameroy mais ce n'est pas tout. D'après nos confrères du Parisien , il présentera " une chronique sur l'actualité ".
    BMW : une moto autonome sur le circuit de Miramas

    BMW : une moto autonome sur le circuit de Miramas

    La moto peut effectuer toutes ses actions après avoir analysé la piste grâce à ses multiples capteurs. Des limites techniques existent encore et la moto n'est pas totalement indépendante.
  • Preparation And Resilience As Hurricane Florence Approaches

    Preparation And Resilience As Hurricane Florence Approaches

    Water kills more people in hurricanes than wind, and he said it will still be an extremely unsafe storm for rain and storm surge. At 4am BST Wednesday the "monster" storm was centred 670 miles southeast of Cape Fear, North Carolina, moving at 17 mph.

    Putin urges 'security guarantees' for North Korea denuclearization

    Then, Trump and Kim signed a vaguely worded agreement on denuclearization but little progress has been made since then. Russian President Vladimir Putin and North Korean leader Kim Jong-Un.
    Pluto should be classified as a planet again, say scientists

    Pluto should be classified as a planet again, say scientists

    The IAU told Fox News that it has not yet received a formal proposal to change its definition of a planet . However, a recent study concluded that the IAU's reasons to declassify Pluto were not valid.
  • U.S. Open chair umpire Carlos Ramos says he is 'fine'

    U.S. Open chair umpire Carlos Ramos says he is 'fine'

    Williams told Ramos. "You owe me an apology". "He did what he had to do in that match , because she overcame the limit". Yet again, it was a privileged group trying to minimise a voice, attempting to keep politics out of sport at all costs.
    A look at California’s plan to get carbon-free electricity

    A look at California’s plan to get carbon-free electricity

    The nation's largest state now gets just over one-third of its energy from wind, solar or geothermal power, according to the U.S. Senate Bill 100 raises the state's already ambitious goals for producing electricity from wind, solar and other green sources.
    Ajax Director Overmars Rules Out Inter Target de Jong Leaving In January

    Ajax Director Overmars Rules Out Inter Target de Jong Leaving In January

    At Barcelona they want De Jong to add to the midfield, he has similar qualities to Busquets but is better at arriving in the box. De Jong began his career with Willem II Tilburg in 2015, making his debut against FC Den Haag in May of that year.
  • NRA TV show depicts 'Thomas and Friends' in KKK hoods

    NRA TV show depicts 'Thomas and Friends' in KKK hoods

    Loesch then added sarcastically: 'Thomas the Tank Engine has been a blight on race relations for far too long. A majority of Loesch's fury was directed towards the introduction of Nia - a steam engine from Kenya.
    China welcomes USA  invite for trade talks, Asian markets relieved

    China welcomes USA invite for trade talks, Asian markets relieved

    The last talks, between mid-level United States and Chinese officials on 22 and 23 August, failed to reach any agreement. Such a meeting could take place in Washington or Beijing, though the timing is unclear, according to informed sources.
    West Virginia Bishop Resigns, Pope Orders Probe of Harassment Claims

    West Virginia Bishop Resigns, Pope Orders Probe of Harassment Claims

    Moving priests who have been accused of child sex abuse is widely seen as a way to help them avoid facing any consequences. McCarrick is accused of molesting an altar boy and having seminary students sleep in his bed with him.


Populaire

White House Buckles in For Hurricane Florence
Sand bags surround homes on North Topsail Beach, N.C., on Wednesday as Hurricane Florence threatens the coast. The town also has enacted an 8 p.m curfew starting Thursday night that will remain in place indefinitely.

Prince Harry warns marines of 'blood, sweat and tears'
Harry, a former Army captain who served in the forces for 10 years, added: "It's going to be blood, sweat and tears". One person notable for her absence is Harry's wife Meghan Markle.

Hurricane Florence Could Bring Up To 30 Inches Of Rain To Carolinas
More than 10 million people live in areas under warnings or watches for hurricane- or tropical storm- force winds, CNN reports . People in areas vulnerable to the risky hurricane, particularly those in coastal regions, have fled ahead of the storm.

Windows 10 : Microsoft poursuit son lobbying anti Firefox et Chrome
Ce n'est pas certain, au vu de la volée de bois vert que Microsoft est en train de se prendre sur les rézosocios. Microsoft essaye réellement de vous dissuader d'installer un autre navigateur.

Le plus vieux dessin du monde découvert par une chercheuse toulousaine
Longtemps, les archéologues ont pensé que les premiers gribouillages des artistes du Paléolithique dataient d'il y a 36.000 ans. De manière générale, l'art fait aujourd'hui partie de nos vies comme quelque chose allant de soi.

NY overtakes London as world's top financial center in new survey
Most major United States, British and Japanese banks said they would build up operations in Frankfurt, Paris or Dublin. London's ranking fell by eight points from six months ago, the biggest decline among the top contenders.

Un geste chirurgical audacieux sauve un bébé de la mort — Toulouse
Au CHU de Toulouse , il est suivi par le Dr Fabio Cuttone , chirurgien cardiopédiatre de l'hôpital des Enfants. Mais nous avons privilégié le bénéfice patient à long terme et redonner à l'enfant un cœur sans anomalie.

Apple ne fournira plus d'adaptateur mini-jack avec ses iPhone
L'iPhone Xs Max a quant à lui un grand écran de 6,5 pouces (16,5 cm) et dispose des mêmes fonctionnalités que son petit frère. Les nouveaux iPhone XS et XS Max sont aussi dotés d'un système audio stéréo qui diffuse une image sonore plus vaste.

Elle donne des antidépresseurs à sa fille de 2 ans pour la calmer — Landes
En 2015, des faits similaires avaient déjà été constatés sur deux autres enfants, qui avaient été placés en famille d'accueil. Après des analyses capillaires, on découvre des traces de deux anxiolytiques: "de Lexomil et du Tercian".

Putin watches war games billed as Russia's biggest ever; China taking part
The Chinese media have described the People's Liberation Army involvement in the drills as the country's largest-ever dispatch of forces overseas for war games.