Argus publishes prices for WTI Houston, WTI Midland, Mars and LLS in Asia. In other words, the Organisation of the Petroleum Exporting Countries (Opec) is very close to reaching its target for stockpiles, at least in the developed nations. "Supported by the improving forward structure in the futures market, floating storage has also been on a declining trend since June", OPEC said.
And other analysts were skeptical about further price gains due to increased refining and higher crude output from the United States.
The Financial Times reported that oil "prices received a further injection of momentum after Turkish President Recep Tayyip Erdogan warned Iraqi Kurdistan that he opposed its independence referendum that passed on Monday, saying Ankara could shut off its main export pipeline and economic lifeline".
On Wednedsay the U.S. Department of Energy's Energy Information Administration (EIA) releases its data.
Oil TankerThe great disruptor that is USA shale oil is coming to Asia, as refiners in the energy-hungry region look to expand and diversify their sources of crude, and the consequences will likely go well beyond a shift in oil trade flows.
Even the most bullish traders and executives in Singapore said that it would be almost impossible for crude to hold above $65 a barrel next year for this reason.
However, a private meeting Friday between OPEC and some non-OPEC members, resulted in no decision on whether to extend the agreement beyond the current end-date of March 2018. But the storm had a much smaller and shorter impact on crude oil production, which fell by 750,000 barrels a day the week the storm made landfall but recovered most of that over the two following weeks.
And, higher crude prices have yet to feed through fully to gas station forecourts - but they will, raising the cost of driving, which is already above last year's level.
Kachikwu noted that even though Nigeria hit 1.802 million barrels per day in the month of August that was not enough justification for a call by some countries for Nigeria to be brought into the fold.
Kenya court blames electoral commission over annulled election
The paper also reported that Mr Nguma included phone records in his petition to the JSC, which he believes proves his allegations. Deputy Chief Justice Philomena Mwilu said the process was "like a matatu", referencing Kenya's reckless, law-defying minibuses.
Jackie Hoffman's "Feud" Emmy loss was an iconic mess
Now, it obviously is the case that Hoffman is playing things up, but some in the media took her comments seriously. When Dern was announced as the victor , a curious thing happened: She passed right over Witherspoon.
Republican Senators Make Last-Gasp Stab at Obamacare
Absent any changes, he said , the federal government will spend $650 billon on the health insurance program for the poor by 2027. Moreover, one of the GOP senators who wound up supporting skinny repeal, Rand Paul, has announced opposition to Graham-Cassidy.
Forbes values Jaguars at $2.075 billion, up 32 percent
The Cowboys' new valuation means that they are now the world's most valuable franchise for the third straight year. The value of the Dallas Cowboys has increased by 14 percent in the previous year to reach $4.8 billion.
Pakistan beats World XI, wins series
Pakistan won the "finale" against the World XI by 33 runs after the visiting side failed to achieve the target of 184. Complete revival calls for a full-fledged series, including Test and 50-over matches against an worldwide team.
All the historic wins at the 69th annual Emmy awards
Because of this awesome feat last night, Louis-Dreyfus holds the title for earning the most Emmy wins for one role. Additionally, this win ties her with Cloris Leachman for most total Emmy acting wins (they both now have eight).
Uber's new CEO apologizes to Londoners after citywide ban
Transport for London , the regulatory body, said last week it wouldn't renew Uber's license when it expires September 30. It now operates ride services in more than 600 cities, covering as much as 95 percent of the United States population.