Nigeria's excess oil revenue rises to N610m per day
Nigeria's excess oil revenue rises to N610m per day
Dollar gets back on feet as risk-off sentiment eases; oil jumps on potential extension of supply cut
13 September, 2017, 00:40
After Hurricane Harvey halted nearly a quarter of the nation's refining capacity, crude prices in NY slumped as gasoline prices soared. But the oil cartel has struggled to raise oil prices amid an oil production boom in the U.S.
Over the next several months, we believe that the post-storm recovery will likely bring oil demand to a higher level, helping to gradually offset this negative initial impact. On Sunday, five refineries in the Gulf Coast region were still shut down, with a combined refining capacity of 1,069,300 bpd, equal to 11% of total Gulf Coast refining capacity and 5.8% of total USA refining capacity, according to the DOE.
"Over the next two to three weeks, the EIA inventory numbers will be rather sloppy because you have production disrupted, refineries going offline and online", he said.
Hurricane Irma, which has been moving inland over the southeastern parts of the U.S., has affected at least nine states so far, among them Florida, Georgia, Alabama and SC, causing storm surges and flooding and cutting off power supplies.
An estimated 2.6-2.7 million b/d (14-15% of total US) refining capacity remained shuttered in Texas as of Monday local time, according to our estimates based on reports from the companies, the Department of Energy, and the media.
USA crude futures rose 17 cents, or 0.35%, to $48.24 a barrel on the New York Mercantile Exchange.
As mixed market indicators kept oil prices in a range, RBC Capital Markets said in a note that it expected "WTI and Brent to average $49.30 and $52.50 per barrel this year before increasing to average $53 and $55.50 a barrel next year".
OPEC and Russian Federation have also said they would cut oil production by 1.8 million barrels per day, as a supply glut continues and Iran prepares to boost its output. The producers are seeking to strengthen compliance with the reduction accord they reached past year.
"The market is assessing what is happening after the two hurricanes and there is concern that demand is down in Florida", said Miswin Mahesh, an oil market analyst at Energy Aspects.
Ben Roethlisberger looks to pass against the Cleveland Browns at FirstEnergy Stadium on September 10, 2017, in Cleveland, Ohio. After the players protested before the Giants game, team leader Christian Kirksey told reporters, "We did it out of respect".
Peck told analysts that its online and mobile business has seen the highest sales and profitability growth of the divisions. The company also plans to streamline operations, which is estimated to eventually save $500 million annually.
The income gains reflect mostly a rise in the number of Americans with jobs and in people working full time, the agency said. Real median incomes for family and non-family households were up 2.7 percent and 4.5 percent, respectively.
However, his legacy lives on as James Franco now has potential for award nominations by portraying Wiseau in The Disaster Artist . The Disaster Artist is about that ownership and how the path there came from the friendship between Wiseau and Sestero.
Several people posted photos Sunday of the mammals on Facebook , hoping rescue workers or wildlife officials would respond. Gordon says it's not uncommon for the manatees to be tidally stranded and that it's better not to move them.
At $US179, it will still be at a premium price relative to competitors, each of which already has models supporting 4K and HDR. It's now pretty much standard above a certain size, which means the fourth-gen Apple TV is rapidly starting to show its age.
The rankings focus on student outcomes - including graduation and retention rates - which carry the most weight at 30 percent. Apart from Tezpur University, only IIT Guwahati (placed in the 601-800 range) is placed in the top 1,000 from the Northeast.
He's one of eight players selected in the first three rounds of the 2017 NFL Draft who doesn't have a Twitter account. That set up a 10-yard touchdown pass to rookie Golladay to give Detroit its first lead of the day, 21-17.
As I alluded to in the previous paragraph, West Ham are a long way from successfully integrating the new players into their squad. JOE HART claims he is not bothered about keeping clean sheets - providing West Ham are winning matches.
These concern the contracts for its AdSense advertising service and the licensing of its Android mobile phone operating system. A court spokeswoman said Google has not asked for an interim order to suspend the decision to levy an fine.
The exemption would allow Donald to be paid while not forcing the Rams to cut someone else to get down to 53 players. Donald has not received a new contract, but the two sides will keep working toward one, the source told Schefter.
Xiaomi Mi Notebook Pro Annouced Today: Here's the Essentials
Moving on, the keyboard is backlit and the company has claimed that the keyboard area is 19 percent larger than the MacBook Pro . But Xiaomi has also launched yet another laptop that rivals Apple's Macbook line, known as the Mi Notebook Pro .
UFC Notebook: Nunes squeaks out win over Shevchenko
Nunes established her range and set the pace in the first round, cracking the lead leg of Shevchenko with venomous kicks. Nunes, nicknamed the Lioness, raised her arms as the decision was announced while numerous fans booed the verdict.
China To Close Its Domestic Crypto Exchanges
Until now, about a ¼ of all Bitcoin trades were processed in China, but new legislation, if accepted, may change that situation. China is home to vast and lucrative cryptocurrency mining operations for both Bitcoin , Ethereum , and other cryptocoins.
Cranes Atop High-Rises Collapse as Irma Lashes Miami
A Florida man riding out Hurricane Irma in a nearby high-rise caught images of a massive construction crane that's collapsed. According to reports from city officials, the crane fell on Biscayne Boulevard, located in the heart of downtown Miami .
Hillary Blames Women's March for Loss Too
Ms Clinton said she believed Mr Trump had tapped into a "nostalgia" felt by his supporters. Interviewer Jane Pauley asked her: " What you're saying is millions of white people? ".