Oil dips as IMF lowers global growth outlook; eyes on US hurricane
Oil dips as IMF lowers global growth outlook; eyes on US hurricane
Ugandan-made Kiira EV Smack. Tehran has been keen to fund Kampala’s Kiira Electronic Vehicle Project
10 October, 2018, 08:56
While Brent prices softened on Monday from $86 per barrel and was trading at $83.53 per barrel, traders worldwide are betting on crude oil prices to cross $100 yet again.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 54 cents, or 0.7 percent, at $73.80 a barrel.
DUBAI - Iran's Oil Minister Bijan Zanganeh has dismissed claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market as "nonsense".
US Secretary of State Mike Pompeo last month said that on November 4th the sanctions against Iran will be enforced and that the US will consider waivers for countries that bring their Iranian oil purchases down to zero.
In May, Trump pulled the USA out of the Iran nuclear deal despite objection from the other signatories, the UK, Russia, Germany, China, and France, re-imposing sanctions lifted under the deal.
The Trump administration's push for the Middle East-dominated cartel to start pumping more oil comes as the White House prepares to impose sanctions against Iran in around four weeks' time. This report renewed concerns over OPEC's ability to cover a widely expected shortfall in supply. Of the 220.4 million metric tonnes (million MT) of crude oil imported by India in 2017-18, about 9.4% was from Iran. In September, Iran exported 1.6 million bpd. "It appears that consumer countries are to be given more time, after all, to replace their oil shipments from Iran so long as they at least reduce them".
Watch Google's Pixel 3 Event Live Stream Right Here
Lastly, we may also see the Pixel Buds 2, the improved version of truly wireless headsets, and an alternative of Apple AirPods. Although it's not been confirmed by Google it's nearly certain that two devices will be shown to the world during the keynote.
The U.S.'s sanctions on Iranian oil come into effect on November 4, but at least one country says it won't be playing ball.
The Indian orders have reportedly been placed by Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL). "We continue to discuss our Iran policy with our counterparts around the world and the implications of our re-imposition of sanctions previously lifted or waived under the JCPOA". "Notwithstanding the present demand momentum, we have downgraded our 2019 USA growth forecast owing to the recently enacted tariffs on a wide range of imports from China and China's retaliation".
Oil prices have extended a rally on expectations the sanctions will test the Organization of the Petroleum Exporting Countries and other producers.
Another production headwind helping to boost prices, Hurricane Michael, is expected to hit the Gulf of Mexico region Tuesday, threatening almost 300 miles of the Gulf coast.
If forecasts prove accurate, the hurricane would largely miss major oil-producing assets in the Gulf, analysts said, but a change of track could widen the impact. Early Tuesday, the International Monetary Fund cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and rising import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows. Late in the session, traders will get the opportunity to react to the latest data from the American Petroleum Institute.
Apple has released an update for iOS 12 which fixes several bugs experienced by iPhone Xs and Xs Max users, The Verge reports. To grab the latest updates, head to your devices settings menu, tap General , and then select Software Update .
The Board is investigating the crash, including whether the limo had any mechanical problems. "One of them had two children". Schumer added, "I commend the NTSB's immediate aid on scene and am very confident that we will have concrete answers soon".
However, Peterson said after the defeat that he suffered a dislocated shoulder near the end of the first half. Chris Thompson has a rib injury he suffered on the two point conversion attempt in the fourth quarter.
People hoping to see Justice Brett Kavanaugh's first day on the Supreme Court bench are waiting in long lines outside the court. Republicans had hoped to confirm Kavanaugh in time for him to join the court on October 1, the start of the new term.
After Hurricane Irma previous year , 14 people died when a South Florida nursing home lost power and air conditioning. ET, Michael's center was about 420 miles south of Panama City, Florida and 390 miles south of Apalachicola, Florida.
Yi criticized Pompeo for the US government's actions towards Taiwan, claiming that Washington is interfering in Chinese affairs. China and the United States are at odds over trade and Beijing's militarization of islands it claims in the South China Sea.
After Thursdays meeting, both West and his famous wife Kim Kardashian West will have met with Trump to discuss prison reform. West grew up and recently said he planned to return, according to the person briefed in the meeting.
Engineers were forced to suspend the telescopes' scientific activities over the weekend after one of its gyroscope's failed. The newly failed gyro is the last of that old design, and it lasted about six months longer than expected.
The Saudi Consulate insists Khashoggi left its building, contradicting Turkish officials who say they believe he is still there. His disappearance caused a huge flutter and Turkish establishment was under pressure to find out Khashoggi's whereabouts.
Trump said Haley first told him about six months ago that she would like to "take a little time off" at the end of this year. Haley's decision surprised several senior White House aides, Chief of Staff John Kelly and Vice President Mike Pence.
Hurricane Michael gaining strength
The hurricane is expected to be the most powerful storm to strike the southern U.S. state's panhandle in at least a decade. The storm rotates due to the spin of the earth and energy from the warm ocean increases wind speeds as it builds.
Nikki Haley Resigns as United Nations Ambassador
Trump tweeted that "The people of SC are embarrassed by Nikki Haley ". "They should be heard, and they should be dealt with". Haley, who is not personally wealthy, hinted in her resignation letter to Trump that she is headed to the private sector.
Could the Eagles trade for LeSean McCoy?
The season, and possibility the entire tenure with the Eagles , is now over for Ajayi, who is in the a year ago of his contract. Wendell Smallwood , Corey Clement , and Josh Adams will compete for increased carries in Ajayi's absence.
Unreported Google data exposure affects hundreds of thousands
Google is also following from its limiting of Gmail scans by limiting which applications - namely, down to email apps - can do so. Unfortunately, whether you've forgotten about it or not, if you have a Google + account, your data may have been put at risk.
Sky Sports pundit aims Man City barb at Reds’ title chances
They're playing an attractive brand of football and Eden Hazard has been the standout player in the Premier League thus far. But if it is an open game at Anfield, or any open game against Liverpool, you don't even have one percent of a chance.
International Monetary Fund raises Israel growth forecast
The new government of Prime Minister Imran Khan had promised millions of new jobs and the creation of an "Islamic welfare state". This story has been published from a wire agency feed without modifications to the text. "We have looked at all our options".