Markets

Supply discipline and demand to prop up oil prices in 2018

Supply discipline and demand to prop up oil prices in 2018

In worldwide markets, Brent crude oil futures were also up, supported by ongoing supply cuts by top producers OPEC and Russian Federation.

OIL prices edged up yesterday, remaining near 2-1/2-year highs after data showed strong demand for crude imports in China and on increased United States refining activity that drew more crude from inventories.

But while 2018 is shaping up to be a tumultuous year for crude, it could be that the US plays a lesser role in creating chaos than some think: the Federal Reserve Bank of Dallas this week noted in its latest survey of 134 energy firms based in Texas, New Mexico, and Louisiana that prices above $60 per barrel are needed to see a significant uptick in activity.

Trading was typically thin at the end of the year, with many traders still on holidays.

Countering those cutbacks, U.S. oil production has soared more than 16% since mid-2016 and is approaching 10 million bpd, trailing only OPEC kingpin Saudi Arabia and Russian Federation.

SoftBank acquires a 20 percent stake in Uber
Khosrowshahi, who took the top job in August after Travis Kalanick was forced to step down in June, helped negotiate the deal. On Thursday it said that existing investors had agreed to sell enough shares for SoftBank to go through with the transaction.

WTI for February delivery settled at $60.42 a barrel, up 58 cents, on the New York Mercantile Exchange. Front-month prices are about 12 per cent higher this year, after rising 45 per cent - the most since 2009 - in 2016.

This week, WTI broke through $60 a barrel for the first time since June 2015, while Brent breached $67 for the first time since May 2015. The cuts started last January and are scheduled to cover all of 2018.

International-benchmark Brent crude oil and U.S.

Based on total expected quotas, China's imports-which at around 8.5 million bpd are already the world's biggest-are expected to hit another record in 2018 as new refining capacity is brought on stream and Beijing allows more independent refiners to import crude.

Prices also continue to be helped by pipeline outages in Libya and the North Sea, although both issues could be resolved early next year.


  • 4 jawans martyred, 3 terrorists killed in CRPF camp attack, J&K

    4 jawans martyred, 3 terrorists killed in CRPF camp attack, J&K

    Meanwhile, the internet services have been slowed down. "Four CRPF jawans have been martyred and three others are injured". DGP also said that soon all the terrorists will be killed.
    Tim Cook gets a 46 percent pay raise in 2017

    Tim Cook gets a 46 percent pay raise in 2017

    Camera IconApple Chief Executive Tim Cook posed for a selfie with customers during the debut of the iPhone X at an Apple Store. Cook was previously criticized by fans and critics for Apple's lack of innovation over the last couple of years.
    Snapchat Working on

    Snapchat Working on "Stories Everywhere" Feature for Sharing Content Outside Snap Platform

    Leading the effort is Rahul Chopra , formerly the senior vice president and global head of video for News Corp , Cheddar reports. These videos which are curated via algorithms and Snap employees cover everything from breaking news videos to sports games.
  • Priest asks for prayers for victims of Bronx fire and their families

    Priest asks for prayers for victims of Bronx fire and their families

    The last deadly NYC fire was in 1990, in which 87 people were killed at the Happy Land Social Club when a fire broke out. A 3-year-old boy's screams alerted his mother that a fire had erupted in their apartment in the building's first floor.
    IDF Retaliates After Gaza Rocket Hits Kibbutz Sha'ar HaNegev

    IDF Retaliates After Gaza Rocket Hits Kibbutz Sha'ar HaNegev

    Rocket fire from Gaza rose following US President Donald Trump's decision to formally recognize Jerusalem as Israel's capital. The shells were fired while many Israeli fighter jets, and drones, were seen flying over various parts of the Gaza Strip.
    Can you real estate tax before the new law kicks in?

    Can you real estate tax before the new law kicks in?

    She hopes to delay that hit by pre-paying next year's taxes before December 31so she can deduct them on her 2017 taxes. County B intends to make the usual assessment in July 2018 for the period July 1, 2018 - June 30, 2019.
  • Tampa Bay Buccaneers sticking with Dirk Koetter in 2018

    Tampa Bay Buccaneers sticking with Dirk Koetter in 2018

    Winston has always been a mobile quarterback with the ability to keep plays alive when the pocket breaks down. On the play, punter Michael Palardy received the snap and tried to find tight end Ed Dickson over the middle.
    Powerball, Mega Millions jackpots grow to more than $300 million each

    Powerball, Mega Millions jackpots grow to more than $300 million each

    With slightly better odds than the Powerball game , it's rare that months pass without someone winning a Mega Millions jackpot. That jackpot was the largest jackpot ever won on a single ticket in USA history! A Mega Millions ticket additionally costs $2.
    UFC hopes to have Conor McGregor back summer 2018

    UFC hopes to have Conor McGregor back summer 2018

    In vacating his middleweight belt, GSP violated a clause in his contract that mandated he defend his title, should he win. Reuters/Mathieu BelangerUltimate Fighting Championship ( UFC ) middleweight and former welterweight champion Georges St.
  • The Cold Countdown to 2018

    The Cold Countdown to 2018

    Highs on Sunday will drop about 10 degrees from Saturday with overnight lows dropping into the upper 20s and low 30s. The Arctic blast crashing down from the north will send temperatures lower then first forecast earlier in the week.

    Bodies In Troy, New York, Basement Apartment Lead To Homicide Suspicion

    Tedesco declined to release details of homicide scene because he said he didn't want to jeopardize the investigation. Police say the four were found dead inside a home at 158 Second Avenue in the Lansingburgh section of the city.
    Plane makes U-turn for carrying wrong passenger

    Plane makes U-turn for carrying wrong passenger

    So basically the boarding pass scanner is just a beedoop machine that makes beedoop noises that register to nowhere ... The airline said it takes great pride in providing "exemplary customer service" but "failed to do so" on this flight.