Oil dips after hitting highest since mid

03 January, 2018, 01:54 | Author: Genevieve Gibbs

U.S. West Texas Intermediate (WTI) crude futures traded down slightly at around $60.32 United States a barrel at 10:26 a.m. ET after hitting $60.74 USA earlier in the day, their highest since June 2015. In early trading WTI hit $60.74, the highest since June 2015. The session high of $67.29 was the highest since May 2015.

Thompson added that traders have been returning to work from the holidays, boosting volumes.

Iran's Supreme Leader on Tuesday accused the country's enemies of stirring unrest, as the death toll rose to 21 from anti-government demonstrations that began last week.

IMA strike: Hospital Services affect in Odisha
The outpatient departments in private hospitals were closed in support of the strike called by the Indian Medical Association. Similarly in Karnataka, hundreds of private hospitals shut their OPDs to protest against the NMC Bill, 2017.

Although U.S. shale drillers are now exhibiting restraint, speculation is rising that they will put more rigs into operation next year as oil strengthens: Gene McGillian, a market research manager at Tradition Energy, pointed out that "With that partially offsetting production cuts by OPEC and Russian Federation, the market will have to get confirmation that global inventories will keep coming down".

Iran is OPEC's third largest crude producer.

Moody's believes North American exploration & production companies, after strong capital investment in 2017, will aim for profitable growth within existing oil acreage and cash flow in the new year, with improvement favouring companies with the greatest exposure to the best acreage and producers in the Permian Basin leading the way.

Committed to nuke dev in 2018: North Korea
But in a typically aggressive tone, KCNA said Trump should "not expect any change in its policy" heading into 2018. Mike Mullen on Sunday warned the U.S.is closer to a nuclear war with North Korea than ever before.

Brent Crude is up 17% since the beginning of the year and WTI Crude Oil finished 12% higher.

However, rising USA production, which is on the verge of breaking through 10 million bpd, has tempered the bullish outlook. If the deal holds until the end of this year, Russia's oil production growth could stall, considering its commitment to the pact. In the next part, we'll analyze the influence of oil prices on USA crude oil production. If the figure is not revised next month, it would be the highest monthly level since May 1971.

Meteorologist David Epstein breaks down the New Year's weekend forecast
We want you to have a happy and safe New Year! Make sure pets have a warm place to stay and give them fresh food and water. The bitterly cold temperatures won't just stop with Saturday night/Sunday morning, but will continue for several days.

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