Oil heads for third straight weekly slide

25 Avril, 2020, 09:37 | Auteur: Auguste Feret
  • Oil heads for third straight weekly slide

Oil prices rose on Friday, but both the Brent and United States benchmarks were on track for their third straight week of losses as global production shutdowns failed to keep pace with the collapse in demand caused by the pandemic. Brent futures rose 0.8%, to $21.5 a barrel in early trade, while the WTI increased 3.5%, to $17.06. This week's declines will mark the eighth week of losses out of the last nine weeks.

The selling pressure was so strong, the front-month USA futures contract fell into negative territory for the first time in history and set a record for the number of contracts traded on Tuesday.

Continental Resources Inc, the largest oil producer in North Dakota has halted most of its production in the U.S. state and notified some customers it would not supply crude, people familiar with the matter said.

"After the price crash earlier this week, which seems to have made every person on the planet aware of the problems in the oil market, several relevant announcements of active crude production shut-ins have made the rounds", JBC Energy said. When compared to the same week of 2019, ethanol production was down approximately 485,000 barrels per day.

Under a deal agreed between the Organisation of the Petroleum Exporting Counties (Opec) and other producers including Russian Federation and Azerbaijan, a grouping known as Opec+, output cuts of 9.7 million bpd are due from next month.

Apple, Google ready coronavirus contact tracing system ahead of launch
The challenge is to do that in a way that protects user privacy and doesn't allow individuals to be tracked or identified. How it will work in simple terms is that devices will be able to remember other devices that were in close proximity.

François Legault demande l'aide des Québécois... sans qualifications — CHSLD
Même si vous n'avez pas de qualification, vous êtes disponible à temps plein, je vous le demande: on a besoin de vous . Quand on regarde les décès, 97% de ceux-ci sont des personnes de 60 ans et plus. Ça vient un peut fausser les données.

How to watch RuPaul’s Secret Celebrity Drag Race
The Celebrity Drag Race cast is being closely-guarded - hence the show's full title, RuPaul's Secret Celebrity Drag Race . The series kicks off at 9.30/8.30c, following straight on from season 12 of Drag Race , which starts at 8/7c.

Azerbaijan's Azeri-Chirag-Guneshli oil project will also have to cut output sharply from next month to fulfil commitments under the deal, four sources told Reuters.

"Unless more production shuts down, the extracted oil will literally have nowhere else to be stored, which implies a forced shutdown across several locations", said Rystad Energy head of oil markets Bjornar Tonhaugen.

On the demand side, in China where the coronavirus outbreak started late a year ago, analysts said fuel sales should pick up in the second quarter as the government eases curbs to contain the pandemic. The package raises U.S. spending to combat the crisis to almost $3 trillion.

Russian oil companies will cut their crude oil loadings from Baltic ports and Black Sea's Novorossiisk in May to 5.42 million tonnes, the lowest level in 20 years, the preliminary loading schedule seen by Reuters showed on Friday.

Conseillé:

  • Kanye West officially now a billionaire

    Kanye West officially now a billionaire

    Music imprint is worth a reported $90 million in addition to other investments and assets worth somewhere around $125 million. However, although Forbes has confirmed Kanye as a billionaire, there is speculation as to whether or not Dr.
    India studying Trump's executive order on immigration

    India studying Trump's executive order on immigration

    Democrats and immigrant advocates have criticised the new policy as an attempt to distract from Trump's response to the pandemic. Some 56% switched visa status from within the USA and 44% entered the US on immigrant visas.
    Nearly  all of these virus patients die

    Nearly all of these virus patients die

    Speaking on his turn, Dr Sarin said, "At this time, we need those people who have recovered from COVID-19 and are at their homes". In general, health experts predict that the less inflammation a patient experiences, the less long-term effects they'll have.
  • Confirmed COVID-19 cases rise in Neshoba County

    Confirmed COVID-19 cases rise in Neshoba County

    A Kishwaukee College student also tested positive, along with a second NIU student who does not live in DeKalb County. The first case in DeKalb County was announced March 21 and the first and only death April 6 of a man in his 50s.
    Another Tight End? The Bears Have Drafted Notre Dame TE Cole Kmet

    Another Tight End? The Bears Have Drafted Notre Dame TE Cole Kmet

    The Chicago Bears welcomed their newest tight end Cole Kmet with the 43rd overall pick in the 2020 NFL Draft. Kmet was a three-year contributor and one-year starter at Notre Dame.
    Meghan's privacy case against tabloid heard at UK Court

    Meghan's privacy case against tabloid heard at UK Court

    Lawyers for the duchess say the letter's publication was a misuse of private information and breached her copyright. It denies the allegations - particularly the claim that the letter was presented in a way that changed its meaning.
  • First Warning Forecast: Showers and storms today and this weekend

    First Warning Forecast: Showers and storms today and this weekend

    The Storm Prediction Center (SPC) has placed a Marginal Risk for strong storms for parts of the Midlands Saturday . The rain from Saturday evening is likely to spill over into Sunday morning, with an 80% chance of precipitation.

    Amid Health Rumors, China Sends Team to Advise on Kim Jong Un

    On Friday, a South Korean source told Reuters their intelligence was that Kim was alive and would likely make an appearance soon. Earlier, CNN cited an anonymous U.S. official who said Kim was in "grave danger" after an unspecified surgery.
    2.7 million in NY  may have coronavirus, survey suggests

    2.7 million in NY may have coronavirus, survey suggests

    George Ferry Terminal, Tuesday, April 21, 2020, from the Staten Island borough of NY to take the Staten Island Ferry to Manhattan. They were selected at supermarkets and had their blood taken by a finger-prick test from the state's health department.
  • U.S. coronavirus death toll expected to reach 50000 on Friday

    U.S. coronavirus death toll expected to reach 50000 on Friday

    Patricia, seen left with her daughter who is now a college graduate, was in good health, according to her relatives. The country with the next highest death toll from the virus is Italy, which has suffered more than 25,000 deaths.

    ‘Mission: Impossible’ Sequels Get Pushed Back

    The seventh installment, originally due in theaters on July 23, 2021 , will now debut four months later on November 19, 2021 . Your mission, should you choose to accept it, is to wait even longer for the Mission: Impossible sequels release dates.
    Amazon: la justice française confirme la nécessité d'une évaluation des risques

    Amazon: la justice française confirme la nécessité d'une évaluation des risques

    L'entreprise a fait l'objet de six mises en demeure de l'inspection du travail et tous ses sites français ont été contrôlés. Lancée par des salariés du site de Lauwin-Planque d'Amazon en France, elle a déjà récolté plus de 16 100 signatures.


Populaire

Pourquoi la vente des substituts à la nicotine est désormais limitée — Coronavirus
D'après une étude publiée par l'Académie des Sciences , les accros à la cigarette seraient moins atteints que les autres personnes par le virus .

Michel Barnier accuses United Kingdom of wasting time in Brexit trade negotiations
The transition period can be extended for up to two years, but Downing Street must give notice of this by 30 June. A membership fee in return for membership of the Single Market would need to be negotiated with the EU.

Saint-Etienne : Un autre jeune Vert prolongé
L'AS Saint-Etienne a officialisé la prolongation de contrat de son jeune défenseur central, Wesley Fofana , ce mardi. Cette saison, il a disputé 12 matchs de Ligue 1 et souhaite poursuivre sa progression dans son club formateur.

Air pollution linked with more cases, deaths from Covid-19
Changing climate patterns also fuel wildfires and their risky smoke, which increases particle pollution. Ozone and particle pollution are some of the most widespread air pollutants in the United States .

Navy officials want to reinstate fired Theodore Roosevelt captain
In the latest case, the outbreak aboard the Kidd took place while the vessel was on a counter-narcotics mission in the Caribbean. So far, one of the sailors has died of "COVID-related complications" at the intensive care unit of the US Naval Hospital in Guam.

Spider-Man: Into the Spider-Verse Sequel Release Date Delayed
As for whether or not we'll see Jake Johnson, John Mulaney, Nicolas Cage , and Kimiko Glenn back as Peter B. Jon Watts will direct the sequel, with Kevin Feige and Amy Pascal attached as executive producers.

Brazil justice minister resigns, accuses Bolsonaro of meddling
Bolsonaro has repeatedly played down the virus risky and stressed that the economic downturn killed more people than the corona. Several of the Car Wash investigations in the southern city of Curitiba involved politicians linked to that administration.

DACA students excluded from federal relief bill
Our goal is to assist as many students and families as possible in meeting their financial demands during this disruptive time". And in paperwork that colleges sign to receive the funding, the agency says the relief isn't considered federal financial aid.

Is There a Way We Can Do Something With Disinfectant?
Bryan said this testing was done at DHS' advanced bio containment lab in Maryland, just outside the national capital. The researchers are also experimenting with the effects of other disinfectants on the virus, Bryan added.

South Dakota Governor Defends ‘Unconventional’ Decision to Resist Lockdown
Noem says if people attempt to resume their normal business there could be another spike in coronavirus infections. This includes those who display mild symptoms, or none at all, she said .