Crude Oil Prices Move Lower with US Inventory Data in Focus
13 October, 2017, 08:23 | Author: Leticia Walters
Oil prices declined on Thursday, after the International Energy Department reported a bearish outlook of the market.
Crude oil prices moved lower on Thursday, after data late Wednesday showed that inventories rose unexpectedly last week, eclipsing recent signs that the market is tigthtening, while markets awaited the U.S. Energy Information Administration's weekly report due later in the day.
Gasoline stocks rose by 2.5 million barrels, compared with analysts' expectations for a 480,000-barrel drop.
Elsewhere, were up 0.18% at $1.610 a gallon, while advanced 0.73% to $2.910 per million British thermal units.
Oil has strengthened in recent weeks due to a sharp drawdown in distillates feeding expectations for renewed demand, but it is unclear whether USA crude prices will regain the high of almost $53 a barrel reached in late September.
A US federal holiday on Monday delayed the release of weekly inventory numbers by a day. Last month, it expected a 590,000 bpd year-over-year increase to 9.84 million bpd.
This supports what I have been saying all along that prices are likely to remain rangebound until OPEC and other major producers vote to extend the production cuts beyond the May 2018 deadline and also decide to deepen those production cuts.
Meanwhile, the agency forecast that USA oil demand for 2017 is set to grow by 230,000 bpd compared with previous forecast of 350,000 bpd.
"Our updated global supply-demand balance ... shows peak stock draws in 3Q17", Goldman Sachs said in a note to clients.
FEMA's focus, the official said , is to "move from the response phase to recovery", adding the recovery phase often takes years. The lack of electricity has been the biggest problem for Puerto Rico's 3.4 million residents.
Nabbing foreign tourists for throwing away cigarette buts and littering streets in Bangkok's tourist districts is a common sight. Boraphet noted that the ban will be introduced in the tourist areas in the heart of the Andaman sea and the Gulf of Thailand.
This "contest" required people to take screen shots from their phone and share over other social networks, not within our game. Niantic's last big event, the Pokémon Go Fest, unfortunately turned out to be a huge mess .
The letter says over 13,000 people have been killed in what they call "Duterte's war on people who use drugs". Abella said the PDEA would now elevate the campaign against illegal drugs as it has widened its scope.
Shortly thereafter, armed police arrived and cordoned off the crime scene, where witnesses had reported hearing a loud "bang". Police Skåne spokesman Fredrik Bratt said: "We received several calls about a suspected shooting in central Trelleborg".
The Illinois-based Chicago Equity Partners Llc has invested 0.25% in Digital Realty Trust, Inc. (NYSE: EDR ) for 222,776 shares. Sempra South American Utilities operates Chilquinta Energia, which serves clients in the region of Valparaiso in central Chile.
These loot box systems have been used for years in games like Counter-Strike, Overwatch , Rocket League , and Team Fortress 2 . Skins are virtual game items, such as weapons and clothing, or even just a paint job for an existing in-game weapon.
Target's move follows similar news from Walmart in August about its own Google Express partnership and voice-directed ordering. Since 1946, Target has given 5 percent of its profit to communities, which today equals millions of dollars a week.
New Yorkers can check the status of their voter registration and political party affiliation here or by calling 1-866-VOTE-NYC . Anyone who needs to register to vote in the upcoming gubernatorial election needs to do so by October 16.
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