Oil prices sink after International Energy Agency's outlook
13 October, 2017, 06:42 | Author: Regina Silva
The lowering of 2017 growth expectations should have been price-supportive, especially for WTI, but with this year nearing an end, attention will shift more to the output expectations for 2018, which at this point are bearish.
Crude oil inventories fell 2.7 million barrels in the October 6 week to 462.2 million, 2.5 percent below the level a year ago, the Energy Information Administration (EIA) said in its weekly report Thursday.
Brent crude futures, the global benchmark for oil prices, were down 78 cents, or 1.4%, at $56.16 late morning Thursday.
Crude prices gained in Asia on Friday with trade data from China supporting rising demand views as the market looks ahead to U.S data. Distillate stocks fell by 1.5 million barrels, short of expectations for a drop of 2.2 million barrels.
The Energy Department on Thursday lowered its forecast for oil demand for 2018.
Fetus kicks through uterine wall
Doctors rushed mum into the operating theatre, fearing she could suffer a risky internal bleed and go into shock. This prompted doctors to proceed with caesarean surgery to deliver the baby within a 10 minute window.
"There is little doubt that leading producers have re-committed to do whatever it takes to underpin the market", the IEA said in a report on Thursday.
Gasoline inventories, one of the products that crude is refined into, rose by roughly 2.5m barrels, confounding expectations of a draw of 480,000 barrels while distillate stockpiles fell by about 1.5m barrels, missing expectations of a decline of 2.2m barrels.
Meanwhile, the agency forecast that US oil demand for 2017 is set to grow by 230,000 bpd compared with previous forecast of 350,000 bpd.
"Additional U.S. supplies will weigh on Brent prices, and this will also encourage more production in the U.S.", said Abhishek Kumar, senior energy analyst at Interfax Energy's Global Gas Analytics in London. For 2018, oil demand is expected to rise by 420,000 bpd vs 400,000 bpd previously.
His ailing father Lee Kun-hee has been hospitalized since 2014, and is now unable to participate in the company's management. It is also a 3 percent rise from this year's second quarter - its previous highest - of 14.07 trillion won in profits.
Geological Survey recorded a small quake in an area of North Korea where previous nuclear tests have been carried out. According to the US Geological Survey, there isn't enough information to conclude the nature of the quake yet.
Stelac Advisory Services LLC purchased a new position in Wells Fargo & during the 2nd quarter valued at about $104,000. It has outperformed by 26.23% the S&P500.The move comes after 6 months positive chart setup for the $460.22M company.
The recall only covers vehicles with second-row fold-flat seats that were built between October 28, 2016 and August 16, 2017. This can prevent the left seat from locking in an upright position and allow the seat to slide forward during a crash.
Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. Ottawa maintained its stable momentum last quarter as prices increased by 7.9 per cent year-over-year to $441,453.
The price target indicates a potential upside of 34.24 % from the last stock close price of Alphabet (NASDAQ: GOOGL ). Return on assets is 11.40% and Return on equity (ROE) is 13.70% while it's Return on Investment (ROI) of 13.30%.
The stock of Twenty-First Century Fox Inc (NASDAQ: FOXA ) has "Outperform" rating given on Wednesday, January 6 by Credit Suisse. Verition Fund Management LLC bought a new position in Twenty-First Century Fox during the 2nd quarter valued at about $365,000.
The current consensus recommendation provided by covering analysts is 2.80. ( NASDAQ:MU ), 35 have Buy rating, 1 Sell and 6 Hold. Point View Wealth Management Inc. increased its position in shares of Endo International plc - by 12.3% in the first quarter.
The Akhil Bharatiya Karyakarini Mandal is one of the highest policy formulation and decision-making bodies of the RSS. We work amongst men. "It is unfair to ask them to leave their family duties and come to shakhas at that hour".
The US, its largest market saw growth of 1.4 per cent, as it saw continued softness in business from banking and retail customers. Strong, broadbased client metrics this quarter demonstrates our increasing success with newer customers.
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