Oil set for longest losing run since 2014 as supply fears ease

The truth about Iran oil sanction waivers

Benchmark Brent crude LCOc1 fell below $70 a barrel for the first time since early April, and was down almost 20 percent since reaching four-year highs at the beginning of October. Brent was 30 cents a barrel lower at $70.35 by 0850 GMT, down 3.5 percent for the week and more than 15 percent this quarter.

US light crude fell to an eight-month low below $60 a barrel, more than 20 percent since early October.

Worldwide oil customers should brace for pain as US sanctions on Iran take hold, the Islamic Republic's oil minister has warned, arguing that waivers Washington granted to eight major oil-importing countries are not enough to keep global markets stable.

"Oil prices continue to decline and are now officially in a bear market, having declined 20 per cent from their (October) peak", said William O'Loughlin, investment analyst at Australia's Rivkin Securities.

China National Petroleum Corp (CNPC) said on Friday that it was still taking oil from Iranian fields in which it has stakes.

Cubs' Theo Epstein Clears Air On Kris Bryant's Trade Availability
The Cubs have reportedly been telling teams that almost every player on the team - including Bryant - is available. He explained the Cubs have "never operated with untouchables".

Did gunman in latest United States mass shooting stop to make Instagram post?
The dead included 11 people inside the bar and a veteran sheriff's sergeant who was the first officer through the door. People escaped the bar by using chairs to break windows, while others reportedly sheltered inside the venue's toilets.

BMW previews M8, reveals a few engine details
BMW M has also increased the rigidity of the body structure, chassis components and chassis mounting. This enables the sedan to accelerate from 0-62 miles per hour (0-100 km/h) in just 3.3 seconds.

The imposition of sanctions against Iran and those who do business with Iran has had a very limited impact on oil prices, due in large part to strong output from the US and Russian Federation.

"A slowdown in the global economy remains the key downside risk to oil", Bernstein added.

"We have seen the United States notification including India in the list of countries granted Significant Reduction Exemption for continued purchase of Iranian crude oil without attracting USA sanctions". Delegates say OPEC ministers and allies will meet Sunday in Abu Dhabi to discuss scenarios including the option to trim production again next year.

Earlier this week, Iraq's oil minister Thamer Ghadhban said the country plans to increase its oil output and export capacity in 2019, with a focus on the southern oilfields, and is close to reaching a deal with global companies.

Still, a return to oil production cuts by OPEC and its allies next year can not be ruled out, two OPEC sources said this week, to avert a possible supply glut.

Related:

  • Oshie leaves twice, scores winner to lift Caps over Pens

    Oshie leaves twice, scores winner to lift Caps over Pens

    Oshie, who returned and scored the game-winner with 1:14 left, was not mad at Malkin for what he perceived to be an accident. The Capitals (also 6-4-3) did some line tinkering before Monday night's game against the Edmonton Oilers and it paid off.
    Trudeau apologizes for Canada's 1939 refusal of Jewish refugee ship

    Trudeau apologizes for Canada's 1939 refusal of Jewish refugee ship

    However, about a quarter of them faced a gruesome fate of being killed in Nazi death camps, historians estimate. Seventeen percent of all hate crimes in Canada target Jewish people, he added.

    Japan’s Toshiba slashes 7,000 jobs

    The announcement continued: "Unfortunately, it has not been possible to successfully conclude those negotiations ". Korea Electric Power Corporation had been earmarked as the preferred bidder to takeover but no deal has reached.
  • Jimmy Butler Is Reportedly Getting Traded To The Philadelphia 76ers

    Jimmy Butler Is Reportedly Getting Traded To The Philadelphia 76ers

    ESPN's Adrian Wojnarowski is also reporting that the Sixers "fully expect" to sign Butler to a contract extension this summer. The only other time he played more than 67 games in a season was his a year ago in Chicago when he played in 76 contests.
    Some iPhone X devices have touchscreen problems

    Some iPhone X devices have touchscreen problems

    The company said it only affects the original iPhone X, which has been superseded by the iPhone XS and XR released this autumn. Apple has announced two new replacement programs that impact the iPhone X and the 13-inch MacBook Pro without a Touch Bar.
    Hamilton threatens to quit if F1 continues to expand

    Hamilton threatens to quit if F1 continues to expand

    Now 12th in the driver's standings , Sainz's best performance in 79 Grand Prix races is a 4th place finish. They are very important to Formula 1, and they are very important to fans.
  • Sears, Kmart to close 40 more stores, including last Kmart in Chicago

    Sears, Kmart to close 40 more stores, including last Kmart in Chicago

    The additional closures follow an announcement last month that almost 150 other stores will close their doors this year. The new announcement shows Sears will no longer have a presence in Chicago , its longtime headquarters.
    Accused mail bomber Sayoc to face new charges

    Accused mail bomber Sayoc to face new charges

    A van linked to Sayoc has also emerged, showing heavy anti-Hillary stickers and pro-Trump stickers plastered all over its surface. One image showed the president standing on a tank with a rifle, complete with United States flag and fireworks.
    Djokovic confirms controversial Saudi match is off after Nadal injury

    Djokovic confirms controversial Saudi match is off after Nadal injury

    Novak Djokovic has confirmed his controversial Saudi Arabia exhibition match against Rafael Nadal has been called off. There had been calls for the match to be cancelled after the murder of Saudi journalist Jamal Khashoggi in Istanbul.
  • Prince William shares heartfelt wish for father Prince Charles

    Prince William shares heartfelt wish for father Prince Charles

    In the video, the 69-year-old royal can be seen sneaking up behind his little sister and tapping her on her back to surprise her. In the documentary, Prince William opens up about Charles' bond with his grandchildren.
    Microsoft testing 'to-do' feature on Word

    Microsoft testing 'to-do' feature on Word

    Microsoft Corp.is looking to streamline the workflow with a set of new productivity features for Word that it unveiled today. It may be the case that different people are required to complete tasks on the to-do list, so Microsoft also added mentions.
    Age of Empires: Definitive Edition listed as available for Xbox One

    Age of Empires: Definitive Edition listed as available for Xbox One

    There's no word on when the offer will end, so you'd better hurry on over to the Xbox Store to grab a copy for free. Crackdown 3 has a release window of February 2019 and will launch exclusively on Xbox One.

Comments

Latest news

Celtics F Gordon Hayward booed in return to Utah
They should be back where they belong in no time, which is being one of the top teams in the Western Conference. One young fan held up a sign that read "wherever (you) go I'll follow". "I'll leave it at that".

76ers put end to road struggles with 100-94 win at Indiana
After mysteriously losing his jump shot halfway through his rookie season, Markelle has looked much better so far in 2018. If the Sixers can hold off the Pacers in the closing minutes, they'll get their first road victory of the season.

Google's Chrome 71 identifies shady websites and alerts users
Clearly display billing information: The site should inform users that they will be paying a subscription fee. And, the developers must make sure that the fee structure is easily understandable.

Wilfried Zaha ruled out of Crystal Palace v Tottenham with hamstring problem
He is so obsessed with scoring that sometimes, when it is against him, he needs more freedom - not to be obsessed. However, there's no way that they can keep him out of Gareth Southgate's plans. "It's similar in Spain".

Yankees re-sign CC Sabathia to 1-year deal
The Cleveland Indians will listen to trade packages for both Corey Kluber and Carlos Carrasco , according to ESPN's Buster Olney. Cashman repeated he intends to trade pitcher Sonny Gray , just 15-16 since NY acquired him from Oakland in July 2017.

Beat Saber PS4 Gets Release Date
There's no word on a price just yet, but this should round out what has turned out to be an excellent year for PSVR. We don't have them yet, but we'll publish a story as soon as we pick up the Beat Saber Trophies .

Protesters Give Tucker Carlson's Wife a Fright
The protesters were doubling down and defending their protest after the ensuing backlash. Wednesday's incident prompted reactions from across the political spectrum.

May pays WWI respects in France with Brexit in background
But his comments drew fire from the opposition as well as Jewish leaders on a still painful chapter in France's history. France's leading Jewish organization, known by the initials CRIF, issued a searing criticism of Macron's stance.

United Kingdom must be able to withdraw from Irish backstop — Liam Fox
Michel Barnier cited the anti-EU British MEP Nigel Farage as a cautionary example at a conference of the centre-right European People's Party.

High blood pressure, smoking raise heart attack risk more in women
But, women are likely to experience additional symptoms such as unusual tiredness, dizziness, cold sweats, and nausea or vomiting. For decades, heart disease was considered a problem that primarily affects men who are overweight in middle age.

Leicester City To Wear Special Tribute Shirt Vs Burnley To Honour Srivaddhanaprabha
Srivaddhanaprabha was killed with four others in a helicopter crash outside Leicester's King Power Stadium on 27 October. His son Aiyawatt made the announcement in a souvenir programme for Saturday's Premier League game with Burnley.

Nine dead in California wildfires, tens of thousands forced to flee
The dead were found in the same part of Paradise, the Butte County Sheriff's Office said. 'I'm driving through fire as we speak. The number of evacuations remains at 52,000 people so far, but the number of total structures destroyed has risen to 6,713.

Melbourne attack: Stabbing spree in city center was terrorism, police say
Prime Minister Scott Morrison said "radical, violent, extremist Islam" poses the greatest threat to Australia's national security. The man and one victim died at hospital, while two others were treated for injuries, according to the police.

Kuchar leads in Playa del Carmen, but Champ lurks
Park Sung Hyun shot a 67 and fellow South Korean Kim Sei Young had a 68 to put them both within five strokes of the lead. El Camaleon Golf Club is all about location - preferably the fairway - more than smashing it as far as possible.

Fallout 76 beta locked to 63FPS on the PC because reasons
This issue will most likely be dealt with post-launch as Bethesda claims dealing with the stash size will "get easier over time". Our goal with voice chat being on by default is to highlight that the world is alive with real people, other players like you.

Other news