Brent premium over WTI hits new three-year high

Future Shock

“The report was supportive due to the large drop in crude oil inventories which was a function of a trifecta of bullish elements: strong demand from refiners, a sizeable drop in crude oil imports, and rebound in exports, ” said John Kilduff, a partner at Again Capital LLC in NY.

But U.S. West Texas Intermediate (WTI) crude CLc1 futures gained 6 cents, or 0.09 percent, to $65.87 a barrel. For the week, WTI was on track for a 2.5% fall, adding to last week's near 5% decline and shrugging off a 3.6 million-barrel drop in United States crude stockpiles last week.

"Crude oil remained under pressure as the market remained focused on the discussion between OPEC members about whether they should increase production later this year", ANZ said in a note.

At 434.5 million barrels, USA crude oil inventories are in the lower half of the average range for this time of year.

Melania Trump tweets that she's 'feeling great'
The news behind the news on the president, administration and everything that happens in the White House is always in ... On May 16, the President visited the first lady after she had a minor kidney surgery and was hospitalized for five days.

Oil in NY headed for a second weekly loss as US output surged, pushing the American marker to near its weakest level in more than three years against global benchmark Brent.

At the same time, investors react to the data on the weekly dynamics of production and oil reserves in the U.S. For the week ended May 25, oil production in the country increased by 44,000 barrels per day - up to 10.769 million barrels per day.

Futures in NY fell 1.8 percent, set for the first monthly drop since February.

The pricing of WTI and Brent suggest that USA crude is now so cheap compared to its main competitor that refiners across the world, but especially in the main consuming region of Asia, should be snapping up vast quantities.

New Assassin's Creed game apparently leaked by collectible keychain
Ahead of E3, the setting of the next Assassin's Creed game appeared to leak. E3 is nearly here, so expect a full reveal during the big show.

Quotes of WTI oil futures for July on Thursday morning decreased by $0,04 (0,06%) to $68,17 a barrel.

OPEC's oil production dropped in May by 70,000 bpd to 32.00 million bpd on the back of outages in Nigeria and a continuous decline in Venezuela that dragged the cartel's total production to the lowest level since April 2017, according to the monthly Reuters survey.

Now OPEC is facing the problem, if we really want to choke off American production, how low does the price have to go?'

The statement added that the ministers also emphasised the need for healthy market conditions that stimulate adequate investments in the energy sector, in order to ensure stable oil supplies are made available in a timely manner to meet growing demand and offset declines in some parts of the world.

Rumor: Andrew Lincoln Leaving The Walking Dead After Season 9
There are, admittedly, a lot of parallels between The Office's loss of its lead, and what's now happening on The Walking Dead . Paul Shirey - I've always felt that Andrew Lincoln was the anchor to The Walking Dead (as well as the comic, obviously).

Sources told Reuters last week that Saudi Arabia, the effective leader of Opec, and Russian Federation were discussing boosting output by about 1-million barrels a day to compensate for losses in supply from Venezuela and to address concern about the impact of U.S. sanctions on Iranian output.

Related news:

Hot News

isis-killer-beheading-video-story-top China warns trade deals off if USA imposes tariffs
Jun 04, 2018 - 09:33
The talks were focussed on getting China to move ahead with its recent promises to increase energy and farm imports from the U.S. It criticised Trump's move this week and said it reserved the right to retaliate but avoided repeating its earlier threat.

isis-killer-beheading-video-story-top Stephen Curry hits wild, fadeaway 3-pointer over Kevin Love
Jun 04, 2018 - 08:29
Golden State ended its run of slow starts by taking a 32-28 lead after the first quarter of Game 2 in the NBA Finals Sunday night. Stephen Curry led Golden State with 33 points, scoring an National Basketball Association finals-record nine three-pointers.

isis-killer-beheading-video-story-top YouTube tops teen social media, as Facebook fades
Jun 04, 2018 - 07:46
Facebook , meanwhile, was only used by 51-percent of the teens surveyed , and only 10-percent of them say they use it most often. The shares of teenagers who use Twitter and Tumblr are largely comparable to the shares who did so in the 2014-2015 survey .

isis-killer-beheading-video-story-top Melania Mystery Continues: First Lady Won't Accompany President To G7 Or Singapore
Jun 04, 2018 - 06:56
That event is typically hosted by the President and First Lady, although the White House has not yet confirmed she would attend. It's unclear when Trump will make a public appearance, but Grisham insisted Friday, "She is fine, she's doing great".

isis-killer-beheading-video-story-top Dinesh D'Souza, Pardoned by Trump, Claims Victory Over Obama Administration
Jun 02, 2018 - 02:08
Trump also told reporters that what Blagojevich said, while " stupid ", was something "many other politicians say". D'Souza is a best-selling author and successful filmmaker who served as an adviser in the Reagan administration.

isis-killer-beheading-video-story-top Cohen prosecutors soon to get contents of 3 phones
Jun 01, 2018 - 20:15
District Judge Kimba Wood preceded a hearing scheduled for Wednesday. He previously filed a motion to weigh in on this case, too. Avenatti's involvement has complicated the Cohen probe.

isis-killer-beheading-video-story-top Ex-FBI Deputy Director McCabe wrote memo on Comey firing
Jun 01, 2018 - 20:01
The multi-page letter blasted Comey over his investigation of Trump's Democratic presidential opponent, Hillary Clinton . It is not typical for the Justice Department to announce the opening or reopening of an investigation.

isis-killer-beheading-video-story-top Deadly Belgium attack was act of terrorism, prosecutors say
Jun 01, 2018 - 19:43
Belgium was then hit by its own IS suicide attacks on Brussels airport and a metro station which killed 32 people. The 29-year-old was killed by police in the attack, which left two female police officers and one bystander dead.

isis-killer-beheading-video-story-top Hawaii officials order some residents to flee from fast lava
Jun 01, 2018 - 19:31
Fissure 8 remains the most active, the USGS says, sending "persistent fountains" of lava as high as 260 feet into the air. The lava is bubbling from a particularly violent fissure - or volcanic crack in the Earth's surface - called Fissure 8.

isis-killer-beheading-video-story-top LG to supply notched-displays for Google Pixel 3 XL
Jun 01, 2018 - 19:21
That also makes Google's prospect quite challenging given that nearly all Android flagships have the same internal specifications. Verizon is expected to again be the exclusive mainstream carrier partner in the U.S. , though Project Fi support is expected too.

isis-killer-beheading-video-story-top Roseanne Barr turns on her co-stars
Jun 01, 2018 - 19:16
Six of Goodman's 11 Emmy nominations between 1988 and 2010 came from his role on Roseanne , so he may have a point. I begged 4 ppls jobs, ' she tweeted. "As you say, those ordinary examples of racism that happen every single day".

isis-killer-beheading-video-story-top Browns' Damarious Randall promises jersey to fans if Cavs lose to Warriors
Jun 01, 2018 - 19:06
Prices of jerseys vary, but Randall would be on the hook for more than $6 million if he could work out a bulk deal at $50 a pop. According to ESPN's Darren Rovell, it's the most retweeted tweet in the United States between May 23 and May 29.

isis-killer-beheading-video-story-top Bethesda Teases an Upcoming Fallout Announcement
Jun 01, 2018 - 18:57
According to the fan encyclopedia at Fallout Wikia, Vault 76 was meant to open just 20 years after a 2077 nuclear conflict. And given Bethesda's track record, there's a strong chance that we'll be playing this game much sooner than we think.

isis-killer-beheading-video-story-top Dunk your donuts, or is it doughnuts? | Community
Jun 01, 2018 - 18:36
Stop in to Duck Donuts locations and get one free classic donut (flavors include bare, cinnamon sugar, or powdered sugar). Locations throughout the Williamsburg area will be giving away a free doughnut with the purchase of any drink.

isis-killer-beheading-video-story-top Ash Barty and Serena Williams set up third round meeting after wins
May 31, 2018 - 21:06
So I was just winging it in the last minute. "It's been two years since I played here". "I have been really enjoying it". Rafael Nadal finished off a rain-interrupted victory as he begins his try for a record-extending 11th French Open title.