Crude oil prices remained stable albeit moving a little downward

Trump Blasts OPEC Over 'Artificially' High Oil Prices

Trade sources said USA flows to Europe would keep rising, with US barrels increasingly finding homes in foreign refineries, often at the expense of oil from OPEC or Russian Federation. We all remember what's happened two years ago - the market was over-flooded, and it wasn't OPEC who over-flooded the market.

"Crude prices are now sitting at the highest levels in three years, reflecting ongoing concerns around geopolitical tensions in the Middle East, which is the source of almost half of the world's oil supply", ANZ bank said on Tuesday.

Iranian sanctions could add between $2 and $10 to oil prices this year, analysts polled by Bloomberg say.

The glut oversupply did play havoc with oil companies and oil investors.

Polish refiners PKN Orlen and Grupa Lotos and Norway's Statoil are sampling US grades, while other new buyers are likely, David Wech of Vienna-based JBC Energy consultancy said.

Brent and WTI hit their highest levels since November 2014 on Thursday earlier this week, at $74.75 and $69.56 per barrel respectively, buoyed by a tightening market and higher demand. Trump's tweet may give Opec producers pause for thought, but it will be the logic of capitalising on oil's strength that will probably bring about an eventual adjustment in production. Citigroup now expects Brent to average $65 a barrel this year and $55 per barrel next year.

Runner has died after collapsing at London Marathon
Following the announcement of his tragic death his fundraising page was flooded with donations - surpassing his target of $4500. The temperature reached 73.8 degrees Fahrenheit, making this year's event the warmest in history, according to the BBC .

Irish 'singing priest' wows judges on Britain's Got Talent
He toured with his ten-track album Where I Belong - which was released in 2014 - and went platinum with 40,000 sales. The 64-year-old left head judge Simon Cowell absolutely stunned by his attractive vocal performance.

PUBG Has First Major ESports Tournament This July
The changes will be hitting the game's test servers first and will eventually make their way to live servers. PlayerUnknown's Battlegrounds is available now on Android, iOS, PC, and through early access on Xbox One .

Three industry sources said that Saudi Arabia would be happy to see crude rise to United States dollars 80 (56.38 pounds) or even USD 100 a barrel, a sign Riyadh will seek no changes to the supply-cutting deal even though its original target is within sight. According to Citigroup, it could be anywhere from 200,000 bpd to 1 million bpd if the Iran nuclear deal collapses.

Many in the oil markets assume that oil sanctions will snap back on Iran on 12 May; this is SG's view (70% probability). This could lead to "sanctions within 180 days, but markets have not priced it in".

Looking ahead, analysts at Société Générale said "many in the oil markets assume that oil sanctions will snap back on Iran" on or before the May 12 deadline for the US decision on whether to extend sanction waivers linked to Iran's nuclear deal.

Meanwhile, foreign sales are virtually all made in the US dollar. Geopolitical risk spikes can be vicious but tend to lack longevity. Sara Vakshouri, head of consultancy SVB Energy International, told Platts that this move could be an attempt to curb the impact of fresh sanctions by taking the dollar out of transactions, but it is unlikely to completely protect Iran from sanctions.

This means costs for any imported goods become more expensive for its citizens or companies, but it has also pushed up the value of Russia's and Iran's oil sales as all of their productioncosts are in the local currencies.

An attack on an oil pipeline supplying Libya's biggest export terminal has reduced the North African country's production by at least 80,000 barrels a day and will take several days to fix, the National Oil Corp. said Sunday.

Related News:

  • Markets open flat; bank stocks major losers

    Markets open flat; bank stocks major losers

    At 2:10 PM, the BSE Sensex was trading at 34,560, up 144 points, while the Nifty50 index was trading at 10,620, up 56 points. In the Eurozone, Frankfurt's DAX 30 index shed 0.35 per cent and Paris CAC 40 was down 0.28 per cent in early session.
    Cops Try Unlocking Phone With Dead Man's Finger

    Cops Try Unlocking Phone With Dead Man's Finger

    Detectives in Florida have attempted to use a dead suspect's finger to unlock his phone, according to a United States newspaper. Phillip's fiancee Victoria Armstrong said she felt violated and disrespected by the incident at the funeral home .
    Mohamed Salah Has Made Africa Proud - CAF

    Mohamed Salah Has Made Africa Proud - CAF

    Sane, who joined City in 2016, also described the team as "perfect" and credited their efforts in helping him win the award. Salah, who also plays for Egypt 's national team, has quickly become a darling of the English football community.
  • Twitter bans ads from Kaspersky Lab

    Twitter bans ads from Kaspersky Lab

    Eugene Kaspersky, Russian antivirus programs developer and chief executive of Russia's Kaspersky Lab , at his company's headquarters in Moscow, Russia.
    Firm offers to buy Kenmore from Sears

    Firm offers to buy Kenmore from Sears

    Moelis & Co would act as financial adviser, and Cleary Gottlieb Steen & Hamilton LLP as lawyers for any transaction. The news caused shares of the retailer to surge more than 4% in the early hours of Monday's trading session.
    What we learned from a must-win Game 4 victory

    What we learned from a must-win Game 4 victory

    DeMar DeRozan had 35 points, six rebounds and six assists for the top-seeded Raptors, who were outscored 66-47 in the second half. But none more than Clarkson, who scored 10 of his 12 points in the second quarter to help the Cavaliers extend their lead.
  • Drug Take Back Day is Saturday

    Drug Take Back Day is Saturday

    We asked him why these kinds of drugs need to be collected, rather than just tucked away and forgotten. MSP collection sites can be found here.
    Amazon's new venture for the development Blockchain based projects

    Amazon's new venture for the development Blockchain based projects

    Several sites are available to attempt to explain blockchains, including , and the Wikipedia Blockchain site .
    G7 foreign ministers to discuss Russian Federation , sanctions not on agenda

    G7 foreign ministers to discuss Russian Federation , sanctions not on agenda

    Rusal declined to comment on requests from worldwide media, while Deripaska's spokeswoman wasn't immediately available. A German lobbying group said European plants may be forced to close and carmakers could face supply shortages.
  • NXP Semiconductors (NASDAQ:NXPI) Given Media Impact Score of 0.15

    The expected future growth in earnings per share ("EPS") is an incredibly important identifying an under-valued stock. The stock of NXP Semiconductors N.V. ( NASDAQ : NXPI ) earned "Buy" rating by Topeka Capital Markets on Friday, February 5.
    Canada's Stars Group snaps up Sky Bet for $4.7 billion

    Canada's Stars Group snaps up Sky Bet for $4.7 billion

    Gambling company Stars Group and Sky Betting And Gaming have been in negotiations for a deal worth approximately £2.6bn. Sky said the combination of that deal and the Stars Group deal creates a total value of £1.2bn for Sky shareholders.
    Count Dankula: YouTube prankster fined £800 for 'Nazi pug' hate crime

    Count Dankula: YouTube prankster fined £800 for 'Nazi pug' hate crime

    At a sentencing hearing today, the sheriff declined to impose a custodial sentence, instead fining Meechan £800. A man who filmed a pet dog giving Nazi salutes before posting the footage online has been fined £800.

Most liked

Mexico Considers Trump's Conditions on NAFTA Unacceptable
The activists leading it said they would help some 200 migrants request asylum in the United States because they are fleeing violence or repression.

Ronaldo shares training photo ahead of Champions League clash with Bayern Munich
Bayern exited the competition last season after losing to Real, while they were also booted byLos Blancos in the 2013/14 season. Real had no match this weekend, but Bundesliga champions Bayern warmed up with a 3-0 win at Hanover.

Melania Trump gets sympathy for 'cheating' husband from Trump's first wife
It hurts a lot", she says. "I don't know what the world is going to look like", Senate Majority Whip John Cornyn told CNN. It only months after Melania gave birth to their son, Barron. "Politics is a very dirty business", she told The Post .

Martin Lewis to sue Facebook over fake ads
He says fake ads using his trustworthy face are undermining his reputation as a man who fights for consumer financial wellbeing. They have known about these scam adverts for years, and they are still happy to roll around in their dirty money'.

Trump Rips WashPost Story on AG Jeff Sessions
At that point, Rosenstein was overseeing the Russian Federation investigation because Sessions had recused himself. Attorney's office, after carefully examining the evidence, took it to a judge and requested a search warrant.

United have upper hand, says Conte
Manchester United are expected to strengthen over the summer after failing to challenge rivals Manchester City for the title. Manchester United 2 (Sanchez 24, Herrera 62) bt Tottenham 1 (Alli 11); Chelsea 2 (Giroud 46, Morata 82) bt Southampton 0.

Rob Gronkowski's horse won't race at Kentucky Derby, illness
Gronkowski , the human, nearly missed Super Bowl LII after suffering a concussion in the AFC Championship Game. I mean, this is just me, the guy who's been around him for a while now.

Khloe Kardashian Talks "Happiness" Amid Tristan Thompson Cheating Scandal
Meanwhile, Tristan reportedly "wants them to be together, ' and 'seems" like 'he's willing to get home, ' People writes. Life is short, and at times, we put so many others before us, but one of our priorities should be our own happiness.

Iranian Central Bank Moves to Rein in Cryptocurrency
The move is part of a broader effort by officials to regain control over the nation's currency markets. The lack of government regulation was another point mentioned.

School responds to assignment asking students to list 'positives' of slavery
The name of the history text where the assignment originated from is " Prentice Hall Classics: A History of the United States ". He continued: "Our review of the situation found this incident to be limited to one teacher at just one campus".

New 'DOOM' Movie Reportedly in the Works
Given the success of the 2016 video game reboot, it seems that a new Doom movie adaptation might be in the works. The reason for that could be because this new " Doom " movie might not be going to theaters.

Colin Kaepernick Receives Amnesty International's Highest Honor
Kaepernick first took a knee during the playing of the American national anthem when he was with the 49ers in 2016 to protest police brutality.

Gas prices have hit a three-year high at Florida pumps

Shahid Kapoor and Mira Rajput are expecting another baby!
Of Beyond The Clouds , which marks his brother's debut, Shahid said: " Ishaan has contributed a spectacular performance ". Talking about the film's progress, Shahid stated, "70% of the film is complete and we will resume shooting next week".

Syracuse University Expels Fraternity After Racist Video Surfaces
Syracuse University permanently expelled the Theta Tau chapter over the weekend and charged 18 students with undisclosed offenses. Later, another student, using a derogatory word for Jews, makes a veiled reference to gas chambers in Nazi Germany.