Published: Wed, March 14, 2018
Markets | By Noel Gibbs

Oil prices fall on relentless rise in U.S. crude output

Oil prices fall on relentless rise in U.S. crude output

Some is related to position-squaring ahead of today's USA consumer inflation report, which could also impact the dollar and future demand for crude oil. This has reduced some of the enthusiasm for oil, with investors weighing increased USA supply against the likelihood that OPEC will maintain production cuts that have been in effect for more than a year.

Oil prices were down on Tuesday morning in Asia amid continued concerns over rising US output and tight supply from the Organization of the Petroleum Exporting Countries (OPEC).

U. S. crude was last at $61.37, down 1.08 percent.

Signs of strength in the USA economy and data showing American explorers curtailed drilling activity is helping oil hold gains after its biggest jump in seven months.

Manchester United boss Jose Mourinho: Liverpool victory just a warm-up
Mourinho also praised referee Craig Pawson and fourth official Martin Atkinson for their performances against Liverpool . Now, I have only one name in my mind. "In training is where I'm doing most of my learning".

Opec and a group of other producers led by Russian Federation have been withholding production since the start of 2017 to prop up prices.

Oil markets gained yesterday on the back of a drop in the number of U.S. rigs drilling for more production and as the United States economy continued to create jobs, which industry hopes will drive higher fuel demand. The U.S. report of larger than expected supply reports from last week is looking to extend this week according to most market speculations.

Between November 2017 and February 2018, Indian crude oil imports from Venezuela averaged some 300,000 bpd, down by around 20 percent compared to the same period a year earlier, industry and shipping sources told Reuters on the condition of anonymity. The contract climbed 3 percent to $65.49 on Friday.

The Treasury Department will auction $21 billion in 10-year notes on Monday, as well as $28 billion in three-year notes. Influencing the market are geopolitical factors, potential world crisis', supply and demand, and weather changes, just to name a few factors.

Authorities investigate death of Binghamton University student from Long Island
A person of interest is reportedly a male nursing student who is said to have been in a romantic relationship with Anderson. Anyone with information can contact the Binghamton Police Detective Division at 607-772-7080 or 607-772-7082.

"Nothing really stood out", said Goncalves, head of US rates strategy at Nomura Securities International in New York."You can consider that a good thing, given this year will see more and more Treasuries issued".

Asia is "a market that the Middle East does not really want to give up", ING's Patterson said.

USA stocks, though, were mixed on Monday, with the S&P 500 down 2.08 points, or 0.07 percent, at 2,784.49 and the Dow Jones Industrial Average lower by 127.52 points, or 0.5 percent, at 25,208.22.

MSCI's world equity index . The dollar index fell 0.05 percent, with the euro up 0.06 percent to $1.2312.

Canada's Trudeau accuses China of 'dumping' steel on global markets
He said that most of Canada's pulse crop exports will not be affected by the tariffs set forth by India. Trudeau also took Canada's case to USA cable channels on Monday with appearances on MSNBC and CNN.

Like this: