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.
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"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.
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.
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.
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.
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.
Cleaner Akwo Kwame Johnson, from neighbouring Ivory Coast said he wanted to pay his last respects to " our great father ". Scores of world leaders past and present, as well as royalty, are expected in Accra for Annan's funeral on Thursday.
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.
Farrow spent past year on the injured reserve, but in 2016 he ran for 192 yards on 60 carries with the then San Diego Chargers. The team did add running back Kenneth Farrow to the practice squad Wednesday, releasing wide receiver Jace Billingsley.
There was better news for the other Weah in action, though, as teenager Timothy helped U.S. record a 1-0 triumph over Mexico. As expected, his every touch and movement were reportedly greeted with cheers and jubilation form the home fans.
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.
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