Sunday, 21 October, 2018


United States considers sanction waivers on countries reducing imports of Iranian oil

Official says S Arabia unable to replace Iran’s oil Crude rises as alarm bells sound over supply crunch
Conrad Doyle | 08 October, 2018, 07:40

During the previous round of sanctions, India had continued importing Iranian oil although purchases were cut significantly to safeguard itself from the U.S. financial system.

USA sanctions on Iran crude exports caused the oil price to rise on Friday.

Meanwhile, the International Court of Justice ordered the U.S. on Wednesday to ease some sanctions against Iran, including those related to the supply of humanitarian trade, food, medicine and the safety of civil aviation.

Brent for December settlement fell 13 cents to $84.45 a barrel on the London-based ICE Futures Europe exchange, after declining $1.71 Thursday.

Speaking to hundreds of members of the Basij militia and top Revolutionary Guard leaders gathered at Tehran's Azadi stadium, he said: "The situation of the nation, region and world is sensitive, especially for us the people of Iran".

On Wednesday, WTI crude was up 1.6 per cent at $76.41 a barrel, after touching a session high of $76.90 a barrel.

The goal for Washington is for companies and governments around the globe to look elsewhere and stop purchasing Iranian oil in order to force a renegotiation on the nuclear deal with Tehran.

Iranian crude oil and condensate exports slumped to just under 1.7 million b/d in September, a fall of nearly 700,000 b/d from May, according to Platts estimates.

The comments followed news that India, Iran's No. 2 oil customer after China, will buy 9 million barrels of Iranian oil in November.

Meanwhile, the US Energy Information Administration (EIA) reported a huge increase in weekly crude oil inventories.

"Iranian export losses have already accelerated faster than we expected", said Paul Sheldon, S&P Global Platts Analytics' chief geopolitical adviser. With China, the world's largest importer of oil, set to wind down its imports of Iranian oil, a supply shock is all but guaranteed and, with it, $100 oil.

Indian Oil Corp will lift 6 million barrels of Iranian oil and Mangalore Refinery and Petrochemicals another 3 million barrels, the source said.

In its submission to the court, Iran argued that the U.S. had violated both the terms of a 1955 bilateral friendship treaty, the Treaty of Amity, and a core provision of global law which protected the 2015 Iran nuclear agreement. Speculators have built bullish long positions on hopes of further price rise.

"The Saudis won't flood the market and they don't want to see it oversupplied", UBS Group AG analyst Giovanni Staunovo said.

Recommended

loading...
...
  • Sonic-boom UFO show! SpaceX launches satellite, lands rocket booster in California

    A sonic boom sounds like an explosion or thunder and is the result of shock waves from a vehicle traveling faster than sound. A graphic explaining sonic booms, provided by Vandenberg Air Force Base ahead of a planned SpaceX launch on October 7, 2018.
    Mattress Firm to close 700 stores in an effort to survive

    Mattress Firm to close 700 stores in an effort to survive

    As part of the filing, Mattress Firm plans to close 700 of those stores in the months "leading up to the holiday season". According to court documents, Mattress Firm has more than $ 1 billion in liabilities and has more than 50,000 creditors.
    Hamilton closing on F1 title at Japanese GP

    Hamilton closing on F1 title at Japanese GP

    Being in third I knew that I'd be losing several points to Sebastian, which through my driving wasn't supposed to happen so I was very eager to get by.
  • Yazidi activist Nadia Murad awarded Nobel Prize

    Yazidi activist Nadia Murad awarded Nobel Prize

    Nadia Murad, a Yazidi rights activist and survivor of sexual slavery by Islamic State, won the 2018 Nobel Peace Prize on Friday. She was "given to more than 10" ISIS fighters, Murad later recalled, and passed around to be sexually abused, sometimes hourly.
    Hamilton on brink of fifth title after Japan win

    Hamilton on brink of fifth title after Japan win

    He was then fourth after Verstappen ran off the road at the chicane, and in rejoining the track, bumped Raikkonen on to the grass. He was penalised five seconds and could well have finished second without it, having crossed the line 1.3 seconds behind Bottas.
    Washington Post prints empty column for Saudi writer missing in Turkey

    Washington Post prints empty column for Saudi writer missing in Turkey

    Saudi Arabia's Ambassador to Ankara Adel Serajedin Merdad has told Turkish officials that he had no information about Khashoggi. The Saudi journalist had raised questions about the state of human rights and freedom of expression in the Gulf kingdom.
  • Girl pulls ancient sword from Swedish lake World News

    Girl pulls ancient sword from Swedish lake World News

    There is now a further investigation of the lake to see if any other ancient pieces can be dug up. The Jonkopings Lans Museum said in a statement this week that the discovery was " spectacular ".
    Packers: Three takeaways from Week 5 loss to Lions

    Packers: Three takeaways from Week 5 loss to Lions

    Brown were expected to get most of the snaps with the first-team unit during Thursday's practice. Given the outlook at receiver, Rodgers might have to direct the passing game elsewhere.
    Chelsea's Ross Barkley on way to becoming 'great player' - Maurizio Sarri

    Chelsea's Ross Barkley on way to becoming 'great player' - Maurizio Sarri

    Who will come out on top in the battle of the managers Mark Hughes or Maurizio Sarri? "I am really happy with him", Sarri said . With the look of things, Chelsea are now a major contender in the EPL alongside Liverpool and Man City.
  • He's Fantastic - Fulham Boss Rows In Behind Jose Mourinho

    He's Fantastic - Fulham Boss Rows In Behind Jose Mourinho

    The confidence of the visiting fans belied the fact that they had yet to win any of their seven league games so far. In a five-minute span in the second half, United equalised.
    Meteorite worth $100000 was used as doorstop for years

    Meteorite worth $100000 was used as doorstop for years

    The man also has agreed to give 10 percent of the potential sale value to CMU for the study of earth and atmospheric sciences. The farmer claimed the rock had fallen in the 1930s and that the new owner could have it since it was "part of the property".
    Kim Kardashian named as most risky  celeb to search online

    Kim Kardashian named as most risky celeb to search online

    McAfee also published a United States list, which saw Orange Is The New Black star and new Batwoman Ruby Rose claim the top spot. Kardashians also ranked high on McAfee's list, with Kourtney at 7, and sister Kim at 19.

Beef recall due to salmonella outbreak Beef recall due to salmonella outbreak The Food Safety and Inspection Service noted that it is concerned some of the products may still be in consumers' freezers. In interviews, 92% of the 39 people investigators questioned said they ate ground beef at home before they got sick.

Nick Saban Had An Absurd Quote After Alabama’s Win Nick Saban Had An Absurd Quote After Alabama’s Win Arkansas, though, started to make things a bit interesting. "It's a six-game season, and we're going to focus on us". But Smith's teammate, Henry Ruggs III, was there to pick it up at the 12 and took it in for the touchdown.

NLDS Game 3: Brewers lead Rockies 2-0 at Coors Field NLDS Game 3: Brewers lead Rockies 2-0 at Coors Field He allowed two hits and two runs in 5 1/3 innings - the Indians finished with only three hits, all singles. Colorado tries to avoid elimination Sunday at Coors Field after dropping two straight in Milwaukee .

The second life of Gary Sanchez isn't shocking the Red Sox The second life of Gary Sanchez isn't shocking the Red Sox The Bombers had several chances to blow the game open against a shoddy Red Sox bullpen but couldn't get the job done. Buehler completely lost the ability to hit the strike zone as he walked Newcomb on four pitches, forcing in a run.

Seven Police Officers Gunned Down, One Killed, Franklin Graham Calls for Prayer Seven Police Officers Gunned Down, One Killed, Franklin Graham Calls for Prayer A senior law enforcement official told CBS News that Fred Hopkins has been identified as the suspect in a deadly shooting in SC . At 6 p.m., about two hours after the incident began, the suspect surrendered to deputies after talking to a negotiator.

Eakinomics: September Jobs Report Prediction Wall Street closed down sharply following the news, extending losses from Thursday's selloff due to a sudden jump in bond yields. Average hourly earnings are forecast to have risen 0.3% month-on-month and 2.8% year-on-year.

Kavanaugh steps away from being confirmed as US Supreme Court judge Kavanaugh steps away from being confirmed as US Supreme Court judge Senators are expected to hold a final vote on Kavanaugh's nomination Saturday afternoon, despite entrenched Democratic opposition. But Democrats say women angered at the Kavanaugh accusations will turn out in large numbers to vote out Republicans.

British man dies from sea snake bite in Australia British man dies from sea snake bite in Australia According to research published past year , snakes were responsible for 27 deaths in Australia between 2000 and 2013. Mr Donoghue was born in Shoreham by Sea, West Sussex, and his family moved to Australia when he was six years old.

Vitamin D Supplements Are Largely Worthless Vitamin D Supplements Are Largely Worthless According to the researchers, there is weak evidence that justifies Vitamin D supplements' efficiency in improving bone health. An analysis of older studies notes that taking either high or low doses of vitamin D supplements didn't improve bone density.

20 killed in upstate NY crash involving limo 20 killed in upstate NY  crash involving limo Police said the accident occurred Saturday afternoon when two cars collided in Schoharie County, near the state capital, Albany. Kirby said that Columbus Day weekend is the busiest weekend of the year for the store, and that it was packed.

Kavanaugh Sworn in As Supreme Court Justice Democrats, of course, have the bulk of the incumbents in competitive Senate races on the 2018 map that are closely contested . He was facing three allegations of sexual misconduct that lacked in evidence or corroborating witnesses.

Magnitude 5.9 quake hits Haiti, at least 11 dead Magnitude 5.9 quake  hits Haiti, at least 11 dead The Haitian civil protection agency said there was no tsunami warning following the quake , which was felt across the country. Early reports coming from the country is that at least one person has died and a number of others were injured.

Virat Kohli raises concerns over new ICC regulations for water breaks Virat Kohli raises concerns over new ICC regulations for water breaks Cheteshwar Pujara and Rishabh Pant played brilliantly but both missed his centuries by 14 and 8 runs respectively. Ajinkya Rahane contributed 41 runs. "Maybe it was their strategy against our spinners, but it didn't work".

US Senate heads to final vote on court nominee Kavanaugh Throughout the day Saturday, hundreds of protesters - many dressed in black garb - descended on the east steps of the Capitol. Republican Susan Collins and Democrat Joe Manchin , both regarded as swing votes, said they would support Kavanaugh.

Steven Gerrard could have Ryan Jack back for Hearts showdown Steven Gerrard could have Ryan Jack back for Hearts showdown At the end, it's the teams and the clubs that win the game . "It didn't look too serious, so there's a chance but we don't know". City travel to Anfield this weekend in an eagerly anticipated early-season clash of the Premier League's top two sides.