Crude oil at fresh 30-months high

US Crude Oil Refinery Demand and Imports Impact Oil Prices

Global benchmark Brent crude futures ended the year with a 17 percent rise, supported by ongoing supply cuts by top producers OPEC and Russian Federation as well as strong demand from China.

WTI prices were supported by data from the U.S. Energy Information Administration late on Thursday showing domestic oil production C-OUT-T-EIA declined last week to 9.75 million barrels per day (bpd) from 9.79 million bpd the previous week. Inventories are down by nearly 20 percent from historic highs last March, and well below this time past year or in 2015.

"In the week past, strong demand for refined products, especially distillates, continued to incent refiners to process crude oil at increasing rates", said David Thompson, executive vice president at Powerhouse, an energy-specialized commodities broker in Washington.

Bucs expected to retain Koetter
Despite a nine-year layoff, Gruden has been putting together a staff behind the scenes and is serious about making a return. The Bucs are 4-11 heading into Sunday's finale after finishing 9-7 and barely missing the playoffs in Koetter's debut year.

WTI crude is now trading at $59.83/bbl, just below the $60.01/bbl reached in intraday trading earlier this week. Brent crude futures LCOc1 were last up 45 cents at $66.62 a barrel at 1932 GMT.

Traders put the higher prices down to China releasing strong import quotas for 2018, which could lead to another record for purchases by the world's biggest importer.

"We see USA supply continuing to grow next year but are less concerned about a sudden supply glut re-emerging as rising D&C [drilling and completion] costs will likely slow production growth", Ashley Petersen at Stratas Advisors told Reuters.

Softbank reaches deal to get big discount on Uber shares
SoftBank will occupy two seats on the company's board and will now be an extremely influential player in decisions at Uber. Uber investors and employees tendered shares worth about 20 percent of the company, sources told The Wall Street Journal .

In the most recent week, US production dipped modestly to 9.75 million bpd from 9.79 mln bpd the previous week. China's crude inventories in November hit a seven-year low of 26.15 million tonnes, Xinhua data showed.

An explosion has rocked a crude oil pipeline that feeds the Es Sider sea terminal in Libya, an oil source in the country said.

Both pipelines are expected to return to normal operations by early January.

Shastri: 'Next 18 months will define Indian cricket'
Kohli says his star-studded side will embrace the challenge of attempting to adapt to conditions on foreign soil. In 2015, we toured Sri Lanka and it had great tracks on which the ball seamed and swung.

Related news:

Hot News

isis-killer-beheading-video-story-top Crude oil settles above $60 for first time since June 2015
Dec 30, 2017 - 03:45
Brent crude futures - the worldwide benchmark for oil prices - were also up, rising 33 cents or 0.5 percent to $66.49 a barrel. Most of the increase was in the Gulf of Mexico, where production was 290,000 barrels a day higher than in October.

isis-killer-beheading-video-story-top Trump Fires Entire HIV/AIDS Council Via FedEx, No Reason Given
Dec 30, 2017 - 03:37
The White House didn't immediately respond to a request to comment Thursday evening on the terminations. The remaining members of the Presidential Advisory Council on HIV/AIDS were fired en masse this week.

isis-killer-beheading-video-story-top Protests spread in western Iran, some demonstrators detained in Tehran
Dec 30, 2017 - 03:36
Out of a total Iranian population of 80 million, some 3.2 million are jobless, according to official data. Prices on many essential products, including eggs, have increased up to 40 percent in recent days.

isis-killer-beheading-video-story-top Multiple people shot at a Long Beach business, Southern California
Dec 30, 2017 - 03:33
Authorities emphasized that it was not an active shooter situation, despite initial reports they received at about 2:25 p.m. While they have found multiple casualties, the police said that they longer considered it to be an active shooting scene.

isis-killer-beheading-video-story-top After linking PAN and mobile with Aadhaar, now its time for Facebook
Dec 29, 2017 - 02:36
Facebook isn't the first online company to ask consumers for Aadhaar. That is Facebook has displayed "use the name on your Aadhaar card".

isis-killer-beheading-video-story-top Jai Ram Thakur Selected As Himachal CM, Has Strong RSS Links
Dec 29, 2017 - 02:36
Several names were doing the rounds for the past few days, including those of Nadda, Suresh Bharadwaj , Dhumal and Thakur. He studied in the village school and later did his graduation in Mandi and Masters from Panjab University in Chandigarh.

isis-killer-beheading-video-story-top Apple apologizes after outcry over slowed iPhones, promises to fix battery issues
Dec 29, 2017 - 02:30
At this point, we haven't seen evidence suggesting that any of them do and it could turn out that this is just an Apple thing. The note goes on to explain the slowdown feature in depth, something Apple had not done before now.

isis-killer-beheading-video-story-top Two Warhols Damaged During Bad First Date
Dec 29, 2017 - 02:13
Among the list of damaged masterpieces reportedly damaged by Laymen were two Andy Warhol paintings valued at $500,000 each. She tore the paintings off the wall, poured liquid on them and threw sculptures across the room, the complaint said.

isis-killer-beheading-video-story-top Congratulations as George Weah Reportedly Elected President of Liberia
Dec 29, 2017 - 02:11
Turnout for the second round stood at 56%, National Election Commission (NEC) Chairman Jerome Korkoyah told reporters in Monrovia. He clinched votes in 12 out of 15 counties in the West African country to become the 25th President of Liberia.

isis-killer-beheading-video-story-top Nintendo reportedly delays 64GB Switch cartridges until 2019
Dec 28, 2017 - 01:50
If they can't bring their games over because of size constraints, it might slow down Nintendo's latest runaway success. According to this report, Nintendo has delayed the delivery of the 64GB game cards to 2019 due to technical issues.

isis-killer-beheading-video-story-top United States retail holiday sales jump 4.9%, biggest increase since 2011
Dec 28, 2017 - 01:47
Although Quinlan admitted that the strong USA economy was a contributing factor, an upgraded customer experience also helped. However, some indications so that American might be stretching finances for their shopping splurge during the holiday.

isis-killer-beheading-video-story-top Disneyland power outage affecting attractions, causing issues
Dec 28, 2017 - 01:39
Geoff Fienberg and his family were stuck on It's a Small World when the power went out and were escorted off the ride. The power outage comes as Disneyland , decorated for the Christmas season, is expected to see holiday crowds.

isis-killer-beheading-video-story-top More pregnant women smoking marijuana for morning sickness
Dec 28, 2017 - 01:38
As it turns out, the research remains unclear as to just how little a pregnant woman could drink without harming her child. The study suggests that more women tend to use marijuana sometimes to sooth anxiety and morning sickness.