Thursday, 18 January, 2018

Blast hits Libyan crude pipeline, cutting output by 90000 bpd

OilExplora opec libyan pipeline blast Oil prices stay near high on strong US refinery runs, China data
Elsie Buchanan | 30 December, 2017, 03:52

Global benchmark Brent crude rose to $66.68 per barrel in early trading, while its United States counterpart is inching closer to the $60 mark, trading at $59.82.

Expectations of robust oil demand growth and high OPEC and allies' commitment to the production cuts have prompted analysts to raise again their forecast for oil prices in 2018, and they now see WTI averaging $55.78 per barrel next year.

The news of the Libyan blast saw oil prices spike to above $65 a barrel on Tuesday, trading close to its highest mark since mid-2015.

"That trend is likely to continue into 2018 and worldwide oil inventories will continue their decline", said Andrew Lipow, president of Lipow Oil Associates in Houston.

U.S. West Texas Intermediate (WTI) crude futures rose 1 cent to $59.65 a barrel as of 12:59 p.m. EST (1759 GMT), a day after touching $60 a barrel. Brent hit $67.10 in intraday trading, the highest price for the grade since May 2015.

In today's poll, the experts surveyed by Reuters also raised their average forecast for Brent to $59.88 per barrel next year, up from the previous projection of $58.84 a barrel.

Rockies, Davis agree to three-year, $52 million deal
The 31-year-old Davis played with the Cubs in 2017 and was the club's only all-star representative in 2017. Passan also said there is a fourth-year vesting option that could take the total spend to $66 million.


Countering those cutbacks, US oil production has soared more than 16 per cent since mid-2016 and is approaching 10 million barrels per day, trailing only OPEC kingpin Saudi Arabia and Russian Federation.

"The U.S. shale impact is now encroaching on uncharted territory", analysts at RBC Capital Markets wrote this month, saying it had "redrawn the global crude flow map".

Prices were supported in early trade by China's release of strong import quotas for 2018.

Pipeline outages in Libya and the North Sea have supported oil prices, although both disruptions are expected to be resolved by early January.

The Mediterranean port of Es Sider, also spelled as Sidr and Sidra, features the largest oil depot in Libya.

Recommended

George Weah elected Liberian president George Weah elected Liberian president The Liberian President-Elect had tweeted declaring his resolve to serve Liberia. "I congratulate the declared victor , Mr.

Wichita Police Say 'Swatting' Prank Led To Man's Fatal Shooting Wichita Police Say 'Swatting' Prank Led To Man's Fatal Shooting The FBI estimates that roughly 400 cases of swatting occur annually, with some using caller ID spoofing to disguise their number. A story that originally ran in The Wichita Eagle paints a rather depressing picture of the confrontation that came after that.

Multiple people shot at California business Multiple people shot at California business They said on Twitter that it has become a murder investigation, and that the suspect is also dead at the scene. The two-story building is home to several law offices, but police did not specify what kind of business it is.

AT&T says all 50 states have opted into first responder network FirstNet AT&T says all 50 states have opted into first responder network FirstNet Decisions from American Samoa, Guam and Northern Marianas Islands are not due until March 12. While New Hampshire has said it will opt out, it's still in talks with FirstNet.

Selena Gomez Heads To Mexico For The New Year Without Justin Bieber Selena Gomez Heads To Mexico For The New Year Without Justin Bieber The hearts want what it wants, though, and it appears Gomez's heart is with her lush brunette locks... at least for right now. However, E!'s source insists that the firing strained their bond, adding, "It caused a huge rift in their relationship".

Dirk Koetter Reportedly Will Return as Buccaneers HC Despite Jon Gruden Rumors Dirk Koetter Reportedly Will Return as Buccaneers HC Despite Jon Gruden Rumors Koetter served as Tampa Bay's offensive coordinator before taking over for former Buccaneers head coach Lovie Smith. Due to that injur, y his passing yards and touchdown totals have fallen, but so has his interception percentage.

Children in Conflict Zones Come Under Attack at 'Shocking Scale' Children in Conflict Zones Come Under Attack at 'Shocking Scale' The agency noted that there has been increasing number of incidents of children being deliberately targeted in war zones. At least 700 children were killed in the first nine months of the year in Afghanistan, Unicef said.

SCARY: Bus-Sized Asteroid YZ4 Passes Close To Earth Today An asteroid listed as a potential hazard to Earth is about one kilometer larger than first thought, according to astronomers. The energy released shattered the windows of hundreds of buildings and left more than 1,000 people injured.

Jay Z's Latest Film Clip Features Beyoncé and Blue Ivy Jay Z's Latest Film Clip Features Beyoncé and Blue Ivy On Beyoncé's Lemonade track "Sorry", she sings, "He only want me when I'm not there / He better call Becky with the good hair". The video cuts from the family to footage of a love scene between a man and woman, who eventually stabs her lover in the back.

The Kardashian Family Taking Blac Chyna to Court Over Lawsuit The Kardashian Family Taking Blac Chyna to Court Over Lawsuit Now, People is reporting that the Kardashians are challenging the lawsuit , and asking for a dismissal of the case. It remains to be seen whether or not the Kardashians' motion to have the lawsuit dropped will be approved.

Jaguars Playoff Game At EverBank Field Sells Out Fast Jaguars Playoff Game At EverBank Field Sells Out Fast After the Titans 27-23 loss to the Los Angeles Rams, the Titans learned more than their playoff fate. That leaves Henry, the 2015 Heisman Trophy victor , poised for the fourth start of his career.

FX Officially Greenlights "Pose", Ryan Murphy's Groundbreaking Ball-Culture Musical Series FX Officially Greenlights The series, created by Murphy , Brad Falchuk and Steven Canals , is set around the mid-1980s in New York City. Tatiana Maslany is no longer set to star, but her role is being reworked for Charlayne Woodard .

Sanchez double ensures Wenger can enjoy landmark night Sanchez double ensures Wenger can enjoy landmark night The best way to show they are committed is to give that kind of performance". Wilshere is hopeful of tying up a new deal in the near future.

Instagram's new 'Recommended for You' feature goes live Instagram's new 'Recommended for You' feature goes live The Facebook-owned company has given a two-liner on how it determines which posts appear in the "Recommended for You" section. Well now, just before the year comes to an end, Instagram is rolling out a new feature called "Recommended for You".

Dana White Questions "Haters" For Saying McGregor Hasn't Defended a Title Dana White Questions It was briefly rumored McGregor would be in line to return in December, though nothing ever materialized. He became the 155-pound champion, and his next fight was against Floyd Mayweather .