Monday, 24 September, 2018


WTI Crude Oil Dips to $70 - 38.2% Fibo Completed, What's Next?

Crude oil is poured from a bottle in this illustration Crude oil is poured from a bottle in this illustration
Conrad Doyle | 17 May, 2018, 00:03

"Until we see the USA and Iran having a talk on resolving the issue, oil prices will extend its rally", Ahn Yea Ha, a commodities analyst at Kiwoom Securities, said by phone from Seoul.

But because the European Union and other intentional players have made a decision to stick with the deal, USA sanctions are likely to affect only up to around 350,000 barrels a day, once reinstated within six months' time, according to analysts at MUFG Bank.

Renewing sanctions would make it much harder for Iran to sell its oil overseas or use the global banking system.

Iran said it had asked Europe's Airbus to announce whether it would go ahead with a plane deal with Tehran following the US pullout. "The Treasury Department thanks the UAE for its close collaboration on this matter".

Oil prices wavered between gains and losses Friday morning but hovered near the more-than-three-year highs reached after President Donald Trump's decision to pull the US out of the Iran nuclear deal. Trump added that the United States would institute "the highest level of economic sanctions" on Iran.

The United States plans to reintroduce sanctions against Iran, which pumps about 4 percent of the world's oil, after abandoning a deal reached in late 2015 that limited Tehran's nuclear ambitions in exchange for the removal of USA and European sanctions.

Admiral West told Daily Star Online: "If Iran has nuclear weapons, then the Saudis will want them and can probably get them from Pakistan".

Several refiners in Asia said they were seeking alternatives to Iranian supplies.

Sanctions come amid an oil market that has already been tightening due to strong demand, especially in Asia, and as top exporter Saudi Arabia and top producer Russian Federation have led efforts since 2017 to withhold oil supplies to prop up prices.

Iran says as far as it's concerned the United States pullout has not killed the nuclear deal.

During the first round of sanctions when European Union joined the USA in imposing financial restrictions, India initially used a Turkish bank to pay Iran for the oil it bought but beginning February 2013 paid almost half of the oil import bill in rupees while keeping the remainder pending opening of payment routes.

Many analysts expect oil prices to rise as Iran's exports fall.

After the sanctions were mitigated within the framework of the nuclear agreement, Iran increased the oil production to about 3.8 million barrels per day.

Britain, France and Germany had promised to remain within the nuclear deal because it was the only way to prevent a Middle-Eastern nuclear arms race.

Weekly U.S. crude oil production hit another record last week, climbing to 10.7 million barrels per day (bpd).

"We urge the USA to ensure that the structures of the JCPOA can remain intact, and to avoid taking action which obstructs its full implementation by all other parties to the deal", a statement provided by British Prime Minister Theresa May's office said.

Recommended

loading...
...

IPL: KKR Edges Closer to Playoffs After Easy Win Against Rajasthan Royals IPL: KKR Edges Closer to Playoffs After Easy Win Against Rajasthan Royals In the post match presentation Kuldeep revealed that he was under pressure when he came to bowl but focused on the basics. Earlier, after KKR won the toss and elected to field, the Rajasthan Royal (RR) batting saw some sharp twists and turns.

EA Confirms Battlefield V Live Reveal for May 23, Provides Streaming Outlets EA Confirms Battlefield V Live Reveal for May 23, Provides Streaming Outlets The livestreams have already been posted and scheduled, so you'll be able to watch in all the usual ways. The site also offers a cryptic message in closing that says " Battlefield will never be the same".

Windows 10 gets a new round of security and privacy updates Windows 10 gets a new round of security and privacy updates Microsoft is presently investigating and will provide a status update when the investigation is complete. Whenever systems running an Intel SSD install the new Windows 10 April 2018 Update their machines crash.

Australia says some Commonwealth Games athletes seeking new visas Australia says some Commonwealth Games athletes seeking new visas We endeavour to assist anyone who contacts us who would not otherwise have access to legal advice. Olivier Heracles Matam Matam of Cameroon competes during the weightlifting men's 62kg final.

What Macy's Got Right in Q1 What Macy's Got Right in Q1 Also, Chairman Jeffrey Gennette purchased 10,000 shares of the firm's stock in a transaction dated Thursday, April 12th. Following the completion of the sale, the director now directly owns 16,184 shares in the company, valued at $473,382.

Brussels calls on Italy to stay committed to the 'European path' Brussels calls on Italy to stay committed to the 'European path' With Italy now writing the rulebook to its future relationship with the EU, Brussels has been left powerless to push back. It contained plans for "economic and judicial procedures that allow member states to leave monetary union".

Senators press Scott Pruitt over lavish spending in EPA hearing Wednesday morning Senators press Scott Pruitt over lavish spending in EPA hearing Wednesday morning Most recently, Pruitt has faced scrutiny for his unprecedented 24/7 security detail. They asked for information on any agency spending on Pruitt's office going forward.

Senate panel advances Trump's Central Intelligence Agency nominee Senate panel advances Trump's Central Intelligence Agency  nominee She is expected to be confirmed by the full Senate as soon as next week, although that vote likely also will be close . As Director of the CIA, Gina Haspel will be the first operations officer in more than five decades to lead the Agency.

Tencent revenue tops estimates due to mobile games Tencent revenue tops estimates due to mobile games Net income climbed 61% to 23.3bn yuan (US$3.7bn) in the three months ended March, the Shenzhen-based company said on Wednesday. Tencent has been on a shopping spree, expanding into different sectors including e-commerce and automobiles.

`With Friends Like That:' EU's Tusk Blasts Trump's Europe Stance `With Friends Like That:' EU's Tusk Blasts Trump's Europe Stance This move sparked discontent among the key U.S. trading partners, especially the EU. Tusk's tweet, however, was one of the more notable, public denunciations of Mr.

Sherpa guide climbs Mt. Everest for record 22nd time Sherpa guide climbs Mt. Everest for record 22nd time Iswari Paudel of Himalayan Guides Nepal , the company assigned to fix the ropes, confirmed that the team has scaled the mountain. However, an informed source from Everest Base Camp told The Kathmandu Post that Phurba Tashi may climb Everest again.

Lachlan Murdoch to serve as chairman, CEO of New Fox Lachlan Murdoch to serve as chairman, CEO of New Fox Fox's film and entertainment franchises, which include " The Simpsons ", "X-Men" and "Avatar", will be owned by Disney. The rest of its major Hollywood assets are in line to be sold to Disney in a $52.4 billion all-stock deal.

Palestine recalls envoys to four European Union nations Palestine recalls envoys to four European Union  nations Israel regards all of the city, including the eastern sector it annexed after the 1967 conflict, as its capital. Israel has faced criticism over its use of live fire on protesters.

Frances Bean Cobain loses father's historic guitar in divorce settlement Frances Bean Cobain loses father's historic guitar in divorce settlement Courtney Love , Cobain's widow, and daughter Frances Bean Cobain both filed testimonies to keep the photos from being published. She has since made a decision to hand over the guitar as a way of settling the divorce proceedings quickly without a trial.

Former student in custody after shooting at Dixon High School Former student in custody after shooting at Dixon High School Then, the officer was able to fire back at the alleged shooter, hitting him, according to Dixon City Manager Danny Langloss . The release reiterates the city manager's statement saying there were no injuries to students after the shooting.