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Saudi Arabia is said to be comfortable with Brent above $80

33 mins ago DieselGasoil Comments Off on Saudi Arabia is said to be comfortable with Brent above $80
By Javier Blas on 9/18/2018 LONDON (Bloomberg) — Saudi Arabia is now comfortable with Brent oil prices rising above $80/bbl, at least in the short term, as the global market adjusts to the loss of Iranian supply from U.S. sanctions, according to people familiar with the kingdom’s view. The world’s largest exporter has tried to Read More

Saudi Arabia July crude oil stock draw surges to 5.51 million barrels as output slides

3 hours ago DieselGasoil Comments Off on Saudi Arabia July crude oil stock draw surges to 5.51 million barrels as output slides
London — Saudi Arabia drew 5.51 million barrels of crude oil from storage in July — its most in eight months — supporting robust exports as production slumped, the latest figures from the Joint Organizations Data Initiative show. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The stock draw Read More

Crude oil futures rise on reports of Saudi support for rising prices; ICE Brent up at $79.02/b, NYMEX WTI $69.77/b

4 hours ago DieselGasoil Comments Off on Crude oil futures rise on reports of Saudi support for rising prices; ICE Brent up at $79.02/b, NYMEX WTI $69.77/b
London — Crude oil futures swung into positive territory Tuesday morning, reversing losses earlier in the day, as reports emerged that Saudi Arabia would allow crude prices to rise above $80/b. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 1040 GMT, the November ICE Brent crude futures contract Read More

Trump hits China with fresh tariffs, threatens more if Beijing retaliates

11 hours ago DieselGasoil Comments Off on Trump hits China with fresh tariffs, threatens more if Beijing retaliates
WASHINGTON/TIANJIN (Reuters) – U.S. President Donald Trump escalated his trade war with Beijing, imposing 10 percent tariffs on about $200 billion worth of imports in a move one senior Chinese regulator said “poisoned” the atmosphere for negotiations. Trump also warned in a statement on Monday that if China takes retaliatory action against U.S. farmers or Read More

Oil higher as U.S. Iran sanctions raise supply concerns

1 day ago DieselGasoil Comments Off on Oil higher as U.S. Iran sanctions raise supply concerns
BEIJING (Reuters) – Oil prices rose on Monday as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise output fast enough to offset falling supplies. FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil Read More

Oil prices inch up as supply concerns outweigh U.S. output assurances

1 day ago DieselGasoil Comments Off on Oil prices inch up as supply concerns outweigh U.S. output assurances
BEIJING (Reuters) – Global oil prices edged up from early losses on Monday despite assurances from Washington that Saudi Arabia, Russia and the United States can raise output fast enough to offset falling supplies from Iran and elsewhere. FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Read More

‘Vindictive & cruel’: US revokes visas of Palestinian envoy’s family after mission shutdown

2 days ago DieselGasoil Comments Off on ‘Vindictive & cruel’: US revokes visas of Palestinian envoy’s family after mission shutdown
Palestinian Liberation Organization have accused US of a new level of pressure and being ‘spiteful’ after the family of its envoy had their visas annulled following the closure of PLO office. Hanan Ashrawi, a member of the PLO’s executive committee, said on Sunday that the US “has taken its attempts to pressure and blackmail the Read More

‘Brink of catastrophe’: Demonizing Russia dangerous for world, Nobel peace prize winner warns West

2 days ago DieselGasoil Comments Off on ‘Brink of catastrophe’: Demonizing Russia dangerous for world, Nobel peace prize winner warns West
The scapegoating of Russia, which is actively promoted by the West, is “inexcusable” as it pushes the world back into the Cold War era and puts it on the brink of a disaster, Nobel Peace Prize winner Mairead Maguire has warned. Russia has become the latest victim of the blame game hysteria, which the US Read More

US sets up coalition to track foreign ships delivering fuel to North Korea – report

3 days ago DieselGasoil Comments Off on US sets up coalition to track foreign ships delivering fuel to North Korea – report
A US Navy ship will reportedly host military personnel from the Five Eyes countries plus Japan and South Korea to monitor foreign vessels delivering fuel to the North in violation of UN sanctions. The coalition will include the US, the UK, Australia, New Zealand and Canada – America’s partners within the Five Eyes intelligence-sharing alliance Read More

Fed faces 'quite challenging' period keeping recovery on track: Yellen

4 days ago DieselGasoil Comments Off on Fed faces 'quite challenging' period keeping recovery on track: Yellen
WASHINGTON (Reuters) – The Federal Reserve faces a “quite challenging” period in trying to keep the U.S. recovery on track amid a risk that low unemployment could lead to an overheated economy, former Fed chief Janet Yellen said on Friday. FILE PHOTO: U.S. outgoing Federal Reserve Chair Janet Yellen holds a news conference after a Read More