Oil prices hit one-month highs on output cuts, demand signs

18 Mai, 2020, 16:41 | Auteur: Auguste Feret
  • Oil prices hit one-month highs on output cuts, demand signs

Oil prices climbed by more than $1 a barrel on Monday, supported by output cuts and signs of a gradual recovery in demand amid easing coronavirus curbs, with USA oil showing no signs of last month's contract expiry price rout. The U.S. economic recovery could stretch through the end of next year, he said in comments broadcast on American TV on Sunday night.

" Citing statistics, on Friday's (May 15th) closing bell, US WTI (West Texas Intermediate) crude futures' prices skyrocketed 6.8 per cent to $29.43 per barrel after jumping as much as 9 per cent on Thursday (May 14th), while Brent crude futures' prices surged 4.4 per cent to wind down the day at $32.50 a barrel following a 7 per cent rise in the previous session".

The company was up 5.4% to £12.39, while BP (BP.) gained 5.5% to 312.8p as USA crude oil benchmark WTI traded above $30 per barrel and global yardstick Brent headed in the direction of $34 per barrel.

"Optimism on the demand side of the oil equation has helped prices climb further, with gasoline demand coming back as governments ease confinement measures", said Rystad Energy's senior oil markets analyst Paola Rodriguez Masiu.

Summer climate is attractive a lot of the world to emerge from coronavirus lockdowns. Shops and eating places ready to reopen in Italy on Monday, whereas different centres of the outbreak such as NY and Spain step by step lifted restrictions.=.

Trump claims whistleblowers like Rick Bright are ‘causing great injustice and harm’
Bright added: "I have been trained my entire life to recognize these outbreaks and recognize viruses". Bright said he was moved to a lower-ranking role at the National Institutes of Health.

Governor Encourages Eligible New Yorkers To Get Tested For COVID-19
He also announced that the criteria to get tested has expanded to include those who would return to work in phase one. The more tests, the better for the state, the better for society, the better for your family, the better for you".

'Kindness' urged during Mental Health Awareness Week
Spotify's Mental Health Awareness Week Hub will host a range of content including a special edition of The Receipts podcast, its own Wake Up/Wind Down podcast and a bespoke episode of Killing It.

Tthere was little indication of WTI repeating the historic plunge below zero seen last month.

One of the oil market's most obvious signs of oversupply - millions of barrels being stored on tankers all over the world - is showing very tentative signs of shrinking.There's a risk OPEC+ compliance with production cuts could be tested as oil prices recover and economies start to open up in the second half of the year, said analysts at ANZ and Mizuho Research Institute.He survived a bombing that left him badly wounded, shrugged off accusations of arms smuggling, and defended Iran's oil interests through war and sanctions.

Also supporting oil prices are production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russian Federation, a grouping known as OPEC+.

Production is also falling as US energy firms cut the number of oil and natural gas rigs operating to an all-time low for a second consecutive week.

Kuwait and Saudi Arabia have agreed to halt oil production from the joint Al-Khafji field for one month, starting from June 1, Kuwait's Al Rai newspaper reported on Saturday.



Twitter announces that employees can work from home forever
Dorsey also said that Twitter's offices would not reopen until September 2020 at the earliest, according to BuzzFeed News . Social media site Twitter has said employees can opt to continue home working "forever" after the Covid-19 crisis eases.

COVID-19: 'There Is A Cure'! California Biotech Company Claims
The company plans to test STI-1499 on monkeys and possibly ferrets, two species that are susceptible to the novel coronavirus. The company claims that one of its antibodies, STI-1499, has shown "100% inhibition of SARS-CoV-2 in laboratory tests".

Fiat Chrysler seeks $6.8 billion state-backed loan in Italy
The €6.3 billion facility is equivalent to 25 per cent of FCA's industrial subsidiaries in Italy, as per the government's decree. The Fiat Chrysler loan would be Europe's biggest government-guaranteed financing for a auto maker related to the pandemic.

Dyson’s scrapped electric auto : founder reveals what could have been
The car's interior offers segmented cushions on the seats and neatly rounded headrests, supposedly for better lumbar support. The Times also got to see the electric SUV's interior , which reminds me of some of the futuristic concepts at auto shows.

Loss of smell or taste added to NHS coronavirus symptoms list
By adding anosmia the sensitivity of new case pick up could increase to 93 percent from 91 percent with just new cough and fever, Van-Tam said.

Family creates 'hug time' shield so kids can hug great-grandma
Families are building "hug shields" to help kids maintain physical contact with their grandparents during the coronavirus pandemic .

McIlroy, Johnson win charity skins tournament
No fans or media were allowed for the Skins match at Seminole Golf Club in Juno Beach, Florida. Trump said he knows most of the PGA Tour players and has played with many of them.

Un bébé contaminé dès sa naissance en Russie — Coronavirus
Près de 50 % des femmes enceintes accueillies à l'hôpital de Beslan, où est né le bébé, sont atteintes du Covid-19. Lorsque les forces de sécurité avaient donné l'assaut, plus de 300 civils avaient été tués, dont 186 enfants.

Canadian air force plane crashes, one dead
The RCAF has announced that they are working on "determining the status of our personnel and supporting emergency personnel". Resident Annette Schoneville told CBC that she witnessed the jet crash as she was having coffee with friends nearby.

Aaron Finch Smashes Yuvraj Singh's 'Keep It Up' Challenge
In the video, he talked about staying at home and promoted the idea of staying home during this coronavirus pandemic. Tendulkar soon took to his Twitter account and uploaded a video of him taking Yuvraj's challenge, but with a twist.