High oil prices put OPEC back on US lawmakers radar

High oil prices put OPEC back on US lawmakers radar

Oil headed for its longest string of quarterly gains in more than a decade as impending supply disruptions threaten to fracture a global market with little margin for error.

U.S. West Texas Intermediate (WTI) crude futures were up 25 cents, or 0.3 percent, at $75.55 a barrel.

Brent for November delivery rose $1.06 to $82.78 a barrel at 11:14 a.m. on the ICE Futures Europe exchange in London.

A Reuters survey of OPEC production found Iranian output in September fell by 100,000 barrels per day, while production from the group as a whole rose by 90,000 bpd from August. The bullish breakout can lead oil prices towards $74.30.

Oil extended gains near the highest level in nearly four years as investors grapple with doubts over OPEC's ability to replace falling exports from Iran.

Across the entire petroleum complex, including crude and refined fuels, hedge fund short positions have fallen the lowest level since at least 2013.

Prior to the November 4 oil trade sanctions, the White House prohibits Iran from using USA dollars for its global trading activities as well as the sale of its precious metals in the world market.

Cambridge scientist Sir Greg Winter wins Nobel prize for chemistry
Strickland had worked with the third victor , Frenchman Gerard Mourou of the Ecole Polytechnique and the University of MI . "The Royal Swedish Academy of Sciences has chose to award the 2018 Nobel Prize in Chemistry with one half to Frances H.

Sarri urges Southgate to hand Barkley England recall
Chelsea FC are now preparing for a return to Europa League action on Thursday night when they host Videoton at Stamford Bridge.

Here's What The US Gets Out Of Trump's NAFTA Renegotiations
The new deal was cheered in a tweet from Hamilton Mayor Fred Eisenberger, who encouraged negotiators to keep fighting for steel. The measures in the new deal - which Mr Trump dubbed "US MCA" - "will support many - hundreds of thousands - American jobs".

The pair discussed the stability of the oil market and the strategic partnership between the two countries, Al Arabiya TV reported, without providing more details.

In India, fuel prices continued to be on fire on Tuesday.

Higher gasoline prices is a pocketbook issue for consumers, they see gasoline prices rising and wonder what the government is doing about it to keep money with the consumer. It should be noted that the call to reduce oil prices comes from a major exporter, as USA oil production is booming at record levels with exports surpassing most OECD countries.

Traders are hunting for the price threshold that forces one of those developments.

Speaking at the United Nations General Assembly in NY last week, Trump said OPEC members were "as usual ripping off the rest of the world".

As concerns over a global crunch due to the loss of Iranian oil mount, President Donald Trump and King Salman bin Abdulaziz of Saudi Arabia discussed efforts to maintain supplies.

"The market's very keen to figure out the size of impact from the Iranian supply disruptions and whether Saudi Arabia and Russian Federation are able to make up for the losses", Kim Kwangrae, a commodities analyst at Samsung Futures Inc., said by phone.

Related Articles

  • Tom Hardy says his favourite 40 minutes Of 'Venom' were cut

    Tom Hardy says his favourite 40 minutes Of 'Venom' were cut

    The overall vibe is akin to the Nic Cage movie Vampire's Kiss ; the one where Cage insisted on eating a real, live cockroach. That seemed to make some fans suspicious that bosses were fearing negative feedback - and it seems they may have been right.
    United's Valencia apologises for Mourinho Instagram fail

    United's Valencia apologises for Mourinho Instagram fail

    It is seen as an opportunity for Ashley to attempt to address the problems at the club and demonstrate his support and commitment. However, the police have said they decided against using an escort due to the lack of any perceivable threat to the team bus.
    Robert Jordan's Wheel Of Time To Get Adapted For TV

    Robert Jordan's Wheel Of Time To Get Adapted For TV

    Additionally, the property's authorial legacy is in place with Jordan's widow Harriet McDougal onboard as a consulting producer. Of course, The Wheel of Time should be a large-scale endeavor, since the novels of Robert Jordan (nom de plume of James O.
  • Nicki Minaj says domestic violence made her 'abrasive'

    Nicki Minaj says domestic violence made her 'abrasive'

    On the other hand, Offset is said to be confident that nothing wrong will happen to his wife and she'll be off the hook soon. Meanwhile, YOU will be isolated and confused while this aggressive campaign transpires.
    Trump mocks Christine Blasey Ford, says 'I've had so many false accusations'

    Trump mocks Christine Blasey Ford, says 'I've had so many false accusations'

    Vermont Democrat Patrick Leahy, the longest-serving current senator, said the mood in the Capitol is among the worst he has seen. A man who had a brief extramarital affair with Swetnick said that she enjoyed group sex and suffered from psychological issues.
    Trump says Saudi King wouldn't last two weeks without U.S.  support

    Trump says Saudi King wouldn't last two weeks without U.S. support

    At a rally in MS on Tuesday, he said the Middle Eastern country wouldn't last two weeks without USA military protection. He returned to the theme Tuesday night in Southaven, Mississippi, mentioning both Japan and South Korea.
  • Athletics name Hendriks wild-card game starter

    Athletics name Hendriks wild-card game starter

    Fortunately, Wednesday's winner-take-all AL Wild Card Game will avoid rain in NY . Severino went 1-1 with a 6.23 ERA in two starts vs. the A's, for what it's worth.
    CDC urges public to get flu shot before the end of October

    CDC urges public to get flu shot before the end of October

    This is important considering that flu complications, including pneumonia, send more than 200,000 Americans to the hospital. The CDC said it was the worst flu season in decades, which is why officials are encouraging everyone to get vaccinated.
    Joe Maddon Has Managed His Last Game for the Cubs

    Joe Maddon Has Managed His Last Game for the Cubs

    So that's why they run their mouth a lot, because they know we're the best. "Sometimes you have to take the bad with the good". Trevor Story grounded a single through the left side and Gerardo Parra lined one to right, putting runners at first and third.
  • 'This is a very scary time for young men in America'

    'This is a very scary time for young men in America'

    Kavanaugh has steadfastly denied all allegations against him, describing them as attacks by Democrats to derail his nomination. The official revealed the private conversations only on condition of anonymity. 'How did you get there?' I don't remember.
    Lilo & Stitch to be remade as a live-action film

    Lilo & Stitch to be remade as a live-action film

    He wrote the upcoming Conjuring spinoff The Crooked Man , and he wrote the Wizard of Oz-inspired horror film Not in Kansas . The studio also has remakes of Dumbo , The Lion King and Mulan coming down the pipeline.
    Juventus 3-0 Young Boys

    Juventus 3-0 Young Boys

    The hat-trick took Dybala's tally for the season to four for the season from seven games, netting just once in the league. It was the Young Boys's second defeat of the competition after they lost their opener 3-0 at home to Manchester United.