Iran's oil minister has hit back at Trump over production demands
01:41, Jul 8, 2018
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.
U.S. President Donald Trump again accused the Organization of Petroleum Exporting Countries of driving gas prices higher on Twitter on July 4 and urged the oil cartel's members to do more.
Canadian oil prices are poised to continue their slow, steady march upward next year as shipping bottlenecks ease and USA refiners look north to fill the gap created by decreasing output from Venezuela, according to Deloitte.
U.S. West Texas Intermediate (WTI) crude futures were at $74.60 a barrel at 0044 GMT, up 46 cents, or 0.6 percent, from their last settlement.
Top exporter Saudi Arabia told OPEC it raised oil output by nearly 500,000 barrels per day last month, OPEC sourcessaid, a sign Riyadh wants to make up for shortages elsewhere and dampen prices. If anything, they are driving prices higher as the USA defends many of their members for very little $'s.
"If Trump continues to believe that OPEC are not doing enough, we would not rule out a SPR (Strategic Petroleum Reserve) release from the USA, or possibly even export restrictions on petroleum products", ING said, in a note.
"With contentious midterm USA elections looming, the President continues to strong-arm Saudi Arabia to increase oil supplies which, at least for now, is containing price action below WTI $75 per barrel", said Stephen Innes, Head of Trading for Asia/Pacific at futures brokerage OANDA.
Saudi Arabia had political reasons to respond positively to Trump's request, given its animosity to arch-rival Iran, which Trump is trying to bring to its knees through strict new sanctions. OPEC and its allies, namely Russian Federation, had agreed in a June meeting to effectively raise output by 1 million barrels a day to help counteract lost barrels from Venezuela and Iran.
Meanwhile, US crude oil production has soared by 30 percent in the last two years, to 10.9 million bpd.
Output cuts by OPEC and allies since January 2017 have reduced a crude glut.
Recent price rises have also been spurred by a USA announcement that it plans to re-introduce sanctions against Iran from November, which will also target its oil industry.
The US Navy stands ready to ensure freedom of navigation and free flow of commerce, a spokesman for the US military's Central Command said.
In fact when Mina climbed in Sterling's back in a bid to halt his progress they actually resembled a jockey carrying his horse. Davinson Sanchez has played day-in, day-out against all of the players likely to be in the England starting eleven.
That broke the record for the fastest time in which both teams have scored at a World Cup match - by all of seven seconds. The former Manchester United keeper did the same when Kasper Schmeichel stopped two penalties in the shootout.
Those tariffs, including the set that will take effect on Friday, are aimed mostly at industrial goods and technology. China is expected to retaliate with tariffs on $34 billion of U.S. goods, including soya beans.
Japan finished level with Senegal on four points and with identical goal difference but with a better disciplinary record. Colombia topped their group by beating Poland and Senegal despite losing to Japan in their opener.
Guests at the bash included actress Priyanka Chopra , who reportedly took singer Nick Jonas as her date to the Ambani house. Mukesh Ambani's eldest son Akash Ambani's engagement preparations have started in full swing with mehendi ceremony.
While the definitive hosts for this parasite are dogs and other carnivores, the report stated that humans can be "aberrant hosts". Medical experts agree this parasite is just another reason to do what you can to protect yourself from mosquito bites .
The nine-track album " Everything Is Love " dropped Saturday on the Tidal music streaming service that Jay-Z partially owns. Blue Ivy ends the song "BOSS" with a shout-out to her 1-year-old brother and sister, Rumi and Sir.
As the CDU and CSU parties hunkered down in Berlin and Munich, leaders on both sides sought to clarify what was a stake. To save her coalition, Merkel agreed to build transit camps for refugees trying to cross into Germany from Austria .
Always one to pride himself on efficiency, James shot 54.2 percent from the field and 36.7 percent from three-point range. According to ESPN , James declined a $35.6 million player option for the 2018-19 season to test the open market.
Previous reports have suggested the Spurs would only trade Leonard to an Eastern Conference team, but that reportedly is not true. As the gulf between the San Antonio Spurs and Kawhi Leonard grows, the race to land the All-Star forward is pushing forward.
It’s on: US, China tariffs take effect in new trade war
Gao said China would not bow to threats or blackmail and would have to fight back if the USA went ahead and imposed the tariffs . Part of his plan is to radically change how United States trade deals work and to focus on protecting the domestic economy.
Heat wave kills 19 in eastern Canada
Stang says he doesn't fear having more frequent warnings will make people pay less attention to them. According to records, 106 people have died in Montreal due to heat since 2010.
The Lakers Have Renounced Julius Randle
Rondo averaged 8.3 points and 8.2 assists in helping lead the Pelicans to the Western Conference semifinals last season. However, with a minimum of effort, the Lakers could have a max deal available to lure top-tier free agents next summer.
Cristiano Ronaldo is the equal of two strikers
Suarez and Ronaldo are both huge worldwide stars tasked with guiding their countries to the World Cup final. But BBC commentator Dion Dublin thinks they need something more if they are to mount a comeback.
NBA Draft 2018: Who Are The Biggest Winners And Losers?
The 20-year-old guard averaged 12.9 points, 4.8 assists and 2.7 steals per game this year in France's LNB Pro A league. The Dallas Mavericks looked all the way to Slovenia for the player they hope can be their next European superstar.
Serbia vs. Switzerland - Football Match Report
Xhaka curled the ball through traffic to tie the game at 1-1, and Ivanovic suddenly became a very unpopular man on social media. One sub-plot to watch out for could be the Serbian fans' treatment of Switzerland's three players with links to Kosovo.
Elon Musk Is Offering To Help Kids Detained At The US Border
Trump and Nielsen misled the public by denying that separating families was a result of Trump's policy - and many believed them. They are also suing the government in the hope that a federal judge will stop family separations via a court order.
Apple to pay AU$9m for misleading iPhone and iPad consumers
The users were told by Apple that they were not eligible for a remedy if the iPhone or iPad had been repaired by another company. The court also held the Apple parent company, Apple US, responsible for the conduct of its Australian subsidiary.
England: Southgate "didn't expect or want" the job
They know how to move the ball, are talented and we've watched videos of their matches - and I'm sure we'll watch more tomorrow. All I can promise is that I'll do my best and the team will too". "And I think the boys are ready".