OPEC warns of threats to oil supply from Iran, other producers

Crude Oil Pump

Benchmark Brent crude is already nearing 80 United States dollars a barrel and some believe this figure may go even higher.

Oil in NY has topped $71 a barrel this month and Brent hit $80 as Iranian sanctions threaten to further cut into available supply, overshadowing concerns over U.S.

“Investors are now assessing the Saudis' mixed message on oil prices versus its earlier pledge to increase output, ” said Hong Sungki, a commodities trader at NH Investment & Securities Co.in Seoul.

The focus on oil supply has been reflected in the options market this week, where investors have scooped up large amounts of buy or call options, suggesting they see prices rising.

Over 30 Jet Airways passengers bleed mid-air by crew negligence
However, a blunder on this flight to Jaipur caused more than 30 passengers to suffer bleeding from their ears and noses . An airline statement says the flight with 166 passengers and five crew members landed normally in Mumbai on Thursday.

The trade dispute is raising concerns about the potential for slower growth in oil consumption, offsetting supply concerns stemming from the upcoming USA sanctions on Iran.

The barrel of West Texas Intermediate marched higher toward the $70 mark during the first half of the day but reversed its course in the NA session as the latest trade headlines raised concerns over the potential negative impact of the U.S. - China trade conflict on the world oil demand. United States sanctions affecting Iran's oil exports come into force on November 4. In the last two weeks, Al-Falih has met his counterparts from Russian Federation and the U.S., Alexander Novak and Rick Perry, to discuss the oil market and the impact of U.S. sanctions on Iranian petroleum exports.

Bloomberg's report explained that Iranian oil exports reached less than 2 million barrels per day in August, which could push prices to more than $ 80 per barrel.

In July, Saudi Arabia saw its highest crude oil stocks draw in eight months at 5.51 million barrels, after the Kingdom unexpectedly reduced its production compared to June while it kept exports stable, S&P Global Platts reported on Tuesday, citing data by the Joint Organizations Data Initiative (JODI).

Chrissy Teigen sets the record straight on her last name
It's all in good fun, of course (they quite clearly are sickeningly loved up), but it's just bloody amusing and I love it. During an apperance on The Tonight Show Starring Jimmy Fallon , the host actually pronounced her name correctly .

USA crude inventories rose by 1.2 million barrels to 397.1 million in the week to Sept 14, according to data released on Tuesday by the American Petroleum Institute (API).

OPEC members received approximately US$567 billion in net oil export revenues in 2017, up 29% from revenues in 2016, according to the US Energy Information Administration (EIA).

With almost 50 days to go before new U.S. oil sanctions against Iran enter into force, U.S. President Donald Trump has already managed to crush the country's petroleum exports, dealing severe economic damage to Tehran.

Ben Roethlisberger defends 'passionate' Antonio Brown, who's back with Steelers
But if you ask some people around the league, there is clearly a perception that Mike Tomlin bears some of the responsibility. Tomlin and Brown met Tuesday to discuss the incident , according to ESPN. "We can end this right here and now".

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