Tuesday, 18 September, 2018

Oil prices fall as Trump Tweets demands price cut

Donald Trump Modal Trigger Getty Images
Jan Cook | 09 July, 2018, 06:46

"And yes, we will certainly be requesting that their oil imports go to zero, without question". "To us it is clear that harsh application of Iranian sanctions will very likely spiral oil prices higher", Sankey wrote yesterday.

He also mentioned that a working group to discuss the plan was being formed.

Trump again accused the OPEC of driving fuel prices higher on Wednesday, and urged United States allies such as Saudi Arabia, to pump more if they wanted Washington to continue protecting them against their top foe, Iran.

Iran's representative to OPEC called on US President Donald Trump to "please stop" tweeting about oil, adding that "with your frequent and indecent tweets oil prices have gone up 10 dollars". The president said the USA defends many OPEC member states, insinuating that as a returned favor, these nations should cave to Washington's demands. "This must be a two way street, REDUCE PRICING NOW!"

At the same time, Trump wants countries around the world to stop buying Iranian crude oil - a key part of his decision to withdraw from the Iran nuclear deal and reimpose sanctions.

According to the sources, India is hoping to hold engagement on this subject with the U.S. within the span of a month but it is unlikely for the USA to grant a waiver. US production remained steady at 10.9 million bpd for a third week in a row.

Brent, the global benchmark for the price of oil, was trading near $78 per barrel on Thursday.

Ardebili's accusations came as oil prices have surged in recent months.

Pompeo to visit Mexican president-elect; discuss immigration, trade
On Tuesday Mr Lopez Obrador will meet President Enrique Peña Nieto to begin the handover process, ahead of his Dec 1 inauguration. And when he takes office in December, AMLO-as the president-elect is known-will have to please those who voted for him.

Despite these measures, Goldman Sachs said in a July 4 note to clients that "the market will remain in deficit" in the second half of the year. The contract added 20 cents on Tuesday, and there was no settlement Wednesday due to the USA holiday. Moreover, Obama was able to do this without increasing oil prices because a surge in US shale oil drilling more than offset lost Iranian exports.

Those other factors have not only driven up oil prices this year, they've also increased gasoline prices.

Saudi Arabia - the world's largest oil exporter - confirmed on Saturday that Trump spoke with King Salman by phone, and that the two discussed the need to preserve "stability" in the oil market and efforts of oil-producing countries to compensate for any potential shortage.

Even so, renewed USA sanctions on Iran against its oil exports look set to tighten supply further.

Spare capacity refers to the amount of extra oil barrels a producer can bring to the market in relatively short order.

Trump administration officials have been visiting other nations to press them to halt oil purchases altogether.

Zanganeh said Trump's anti-OPEC remarks are the causes of the increase in the prices in the oil market over the past days.

Recommended

Trump's Mar-a-Lago wants to hire 61 foreign workers Trump's Mar-a-Lago wants to hire 61 foreign workers Trump's "Winter White House" has applied to hire 21 cooks from other countries to work at the resort from October to May. But the base salary for servers rose to $12.68 per hour this year from $11.88 per hour the year before.

US, China fire first shots in 'largest trade war in economic history' US, China fire first shots in 'largest trade war in economic history' A spokesperson for the Alliance of Automobile Manufacturers said in an email Friday that some U.S. carmakers may not feel a major impact right off the bat.

ROFL! Neymar Challenge is making people roll all over the world ROFL! Neymar Challenge is making people roll all over the world With only one loss under him, the five-time world champions arrived in Russian Federation among the main title favorites. Laurence Griffiths/Getty ImagesNeymar looking anguished during Brazil's World Cup quarter-finals match against Belgium .

Tropical depression has formed in Atlantic Ocean: National Hurricane Center Tropical depression has formed in Atlantic Ocean: National Hurricane Center The storm was about 1,385 miles east-southeast of the Lesser Antilles with maximum winds of about 35 mph. Because Beryl is so small, forecasters were less certain about just how much the storm could strengthen.

Serena Williams wins first Wimbledon match as a mom Serena Williams wins first Wimbledon match as a mom In addition to Federer's Nike RF logo, the logo on the right shoe has the No. 8, reflecting how many Wimbledon's he has won. Venus reached her ninth Wimbledon final previous year , but the American star was denied a sixth title by Garbine Muguruza.

China Blasts US for 'Opening Fire on the Entire World' With Tariffs China Blasts US for 'Opening Fire on the Entire World' With Tariffs Both countries threatened to levy tariffs this week, however, China said it would not be the first to impose the measures. The US measures are expected to take effect first, shortly after midnight ET on Friday.

Flags lowered in CT to honor shooting victims Flags lowered in CT  to honor shooting victims Only the governor of a state or the president can order an American flag lowered to half-staff, per the USA flag code. It was an attack on freedom of speech. "But there's certain protocol that is followed".

LeBron James looking to change style of play with Lakers? LeBron James looking to change style of play with Lakers? LeBron has been the No. 1 victim of Stephenson's antics, and the most memorable thing he did was when he blew into James' ear. James signed with the Lakers just hours after opting out of the final year of his contract with the Cavaliers.

Amazon Prime Day sales event to debut in Singapore on July 16 Amazon Prime Day sales event to debut in Singapore on July 16 This affordable backpack - now offered at 20% off - comes in seven stylish colors so that you can pick a pack to suit your style. Amazon's mobile apps normally send a push notification whenever products in your wishlist go on a Lightning Deal.

Royal honeymoon: the clues continue to roll in from Prince Harry Royal honeymoon: the clues continue to roll in from Prince Harry He gave us a step-by-step guide of how to get the Los Angeles native's signature eyes, brows and glowing skin. She explained, at the time: "It was more than a wedding, I thought".

Third-parties may read your Google Mail emails if you allow it Third-parties may read your Google Mail emails if you allow it Some Gmail users may be shocked when they realize that humans may have read their emails on Gmail. The Wall Street Journal spoke to a number of companies that said they had read people's emails.

British Lawmaker Calls for Ban on Bouncy Castles After Girl’s Death British Lawmaker Calls for Ban on Bouncy Castles After Girl’s Death Ms Furmedge, from Chester-le-Street, and Ms Collings, from Seaham, died from injuries suffered when they fell from the artwork. The investigation is being coordinated by the Health and Safety Executive (HSE) local authority and police.

Philadelphia 76ers to meet with reps for LeBron James Philadelphia 76ers to meet with reps for LeBron James The basketball star was also welcomed to LA Lakers by star footballer Zlatan Ibrahimovic on Twitter , who plays for LA Galaxy. In a move that comes as no surprise, superstar LeBron James has signed a free agent deal with the Los Angeles Lakers .

'Big Bang Theory' star Kaley Cuoco marries equestrian 'Big Bang Theory' star Kaley Cuoco marries equestrian Well after almost two years I finally got up the courage to ask her to marry me. She gushed: "We're totally going to get married".

Brazil v Mexico 02 July 2018 Brazil v Mexico 02 July 2018 Brazil star Neymar was yet again at his acting best during his team's World Cup last 16 match against Mexico in Samara . Writhing in agony after his right ankle was stepped on by Miguel Layun , Neymar managed to get back on his feet.