Oil prices have recovered after slipping to a three-week low in the previous session amid reports of a fall in U.S. crude stocks. "That's consistent with my sense that this is all about inventories and the associated supply overhang in crude oil markets at the moment", said Greg McKenna, chief market strategist at futures brokerage AxiTrader, as quoted by Reuters.
At last week's meeting of Organization of Petroleum Exporting Countries (OPEC), the cartel and its partners agreed to extend their production cuts of around 1.6 million barrels a day through the end of March 2018.
U.S. West Texas Intermediate crude CLc1 fell $1.34, or 2.7 percent, to settle at $48.32 per barrel, its lowest close since May 12.Brent's premium over the same U.S. month WTCLc1-LCOc1 narrowed to its lowest in nearly five weeks.For the month of May, Brent fell nearly 3 percent, its fifth straight monthly loss.
The American summer driving season, which by tradition started on the Memorial Day holiday on Monday, may offer some support for prices, Reuters quoted analysts as saying.
Rising output from Nigeria and Libya, which are exempted from the deal, is also undercutting oil producers' attempt to limit production. "We want to institutionalise cooperation between OPEC and non-OPEC producers", Saudi Energy Minister Khalid al-Falih said.
However, U.S. crude production is rising fast as new technology helps to extract shale oil, making the United States more self-sufficient in energy. While weaker oil price broke another myth or fundamental understanding that a nine-month agreement between the OPEC and N-OPEC countries would immediately boost oil price, it has broken many such myths over the past years and understanding them or at least recognizing them is of utmost importance if one looks to forecast the future price.
He also pointed out that Romania, which stands of NATO's Eastern flank, heavily relies on the United States for defense. So for now, the score for extracting an Article 5 commitment from Trump is: Romanian journalist 1, NATO Alliance 0.
As a free agent in 2016, Boykin signed with the Carolina Panthers , who would release him just two months later. They added cornerbacks Brandon Boykin and Al-Hajj Shabazz to take the places of Young and Arrington.
And like Disney's ( DIS ) Marvel films, the universe already has its own logo and theme, which will play before " The Mummy ". However, here the M:I-style action sequences do not gel with the mythology and leave us with a film that seems mismatched.
Nishikori beat Murray in a dramatic five-setter 1-6, 6-4, 4-6, 6-1, 7-5 past year to reach the semifinals at Flushing Meadows. The world No. 1 faced the sound and fury and responded with his most dynamic tennis of this clay-court season.
A replacement for Colon in the starting rotation is expected to be announced in a couple of days, manager Brian Snitker said. NOTES: Atlanta placed RHP Bartolo Colon (2-7, 7.78 ERA) on the 10-day disabled list with a left oblique strain.
The concert was being broadcast in Britain by the BBC, which said networks in 38 other countries would also broadcast the show. Consolidated figures for One Love Manchester have not yet been revealed. "Good even Manchester ", singer Gary Barlow screamed.
Trump tweeted , continuing with the anti-terrorism rhetoric that he launched following the London Bridge terror attack . The Justice Department says President Trump's travel ban "is well within his lawful authority to keep the nation safe".
He said California, New York and Washington are the initial members, with those states representing more than one-fifth of U.S. Trump has said that climate change is a hoax created by the Chinese and that he feels the world "is laughing at us".
Meanwhile, Riley was happy to touch on another hot debate, the LeBron James-Michael Jordan "greatest ever" discussion. Game 3 has not been a good time for the Golden State Warriors when they match up with the Cleveland Cavaliers.
Apple referred to the "ambient" parts like background piano music as distinct from the more central parts like the vocals. A new Watch OS was also previewed, with new features and advancements mostly in the Watch, Fitness and Activity areas.
London Police Arrest Another Attack Suspect
The arrest brings to four the number of men being held in connection with Saturday's attack, in which eight people died. In March 2016, Italian officers stopped Zaghba at Bologna airport and found IS-related materials on his mobile phone.
Stanley Cup Finals: Penguins Take 2-0 Series Lead
The Penguins' 4-1 victory over the Nashville Predators in Game 2 on Wednesday night at PPG Paints Arena is a ideal example. It was during the Stanley Cup Playoffs and legend has it that that octopus spurred the team toward their Stanley Cup run.
Chris Sale: 'My Guys Allowed Me To Suck Tonight'
White Sox right-hander Juan Minaya (1-0) pitched a scoreless inning of relief with three strikeouts to earn the victory. The Red Sox will attempt to take the series and try to gain a game on the Yankees in the AL East standings.
China factory activity held steady in May, index shows
Builders hired more workers and ordered more supplies to deal with a faster inflow of new projects last month, Markit said. Apart from that, the report showed that manufacturers' optimism over the economy hit a 20-month high last month.
Leaked NSA doc highlights deep flaws in US election system
Matt Blaze, a University of Pennsylvania computer scientist, said any penetration of the election system would be alarming. According to an Federal Bureau of Investigation affidavit, victor admitted sending the document to The Intercept .
SpaceX taking recycling all way to orbit for NASA
As SpaceX Vice-President of mission assurance, Hans Koenigsmann said , almost everything about the rocket and ship was reusable. The Dragon is the only unmanned supply ship that returns to Earth; the others are filled with trash and burn up on re-entry.
Apple 'HomePod' speaker to take on Amazon, Google
As market analyst Paul Verna, from eMarketer, said: "Whenever these companies try to freeze each other out, everybody suffers". New features like Files app, Dock, a new way of multitasking using Split View, and the addition of Drag and Drop.
AMD releases 'Radeon Pro 500' Series graphics for iMac
Featuring next-generation Intel Xeon processors up to 18 cores, iMac Pro is created to handle the most demanding pro workflows. The iMac Pro will be available with an 8-core, 10-core or 16-core processor and Radeon Vega graphics.