Crude oil prices steadied Monday, weighed down by rising supply from OPEC and the USA, but supported by concerns falling Iranian output will tighten markets once US sanctions begin in November.
Brent crude, the global benchmark, was up 0.58% to $78.09 a barrel on London's Intercontinental Exchange.
U.S. West Texas Intermediate (WTI) crude futures were at $70.04 per barrel at 0034 GMT, up 24 cents, or 0.3 percent from their last settlement.
President Hassan Rouhani said Tuesday that Iran will continue exporting crude oil despite USA efforts to stop it through sanctions. The country's oil production already was down by 150,000 barrels per day, due to importers of that oil moving away from taking Iranian shipments.
"All of Iran's oil customers are affected by increasing United States pressure to halt purchases, even as they request for concessions to cope with the consequences", said Den Syahril, a senior analyst at industry consultant FGE.
U.S. President Donald Trump in May pulled out of the 2015 nuclear deal with Iran and nearly immediately began reimposing sanctions against Tehran. That followed U.S. President Donald Trump urging the group to act to prevent further rises. Emirates NBD Bank analyst, Edward Bell has the same opinion. 4 that oil markets had changed since 2017 when worries about rising supply were more evident.
Output from the producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) rose by 220,000 barrels per day (bpd) between July and August, to a 2018-high of 32.79 million bpd, a Reuters survey found.
"With the anticipation of up to 1.5 million barrels per day affected by the US sanctions on Iran, one would expect prices to move higher in the weeks ahead", said Stephen Innes, of futures brokerage OANDA.
"Exports from OPEC's third-biggest producer are falling faster than expected and worse is to come ahead of a looming second wave of US sanctions".
"It isn't at all clear that such type of economic headwinds will topple oil prices given ... the constant barrage of supply outages", Innes said.
Global oil markets have tightened over the last month, pushing up Brent prices by more than 10 percent since the middle of August.
Thanks to this ever escalating trade war, China's manufacturing growth was at its slowest in more than one year this August.
Questioning of the nominee will begin on Wednesday, and votes in committee and on the Senate floor could occur later in September. The president's comment followed the statements of Democratic senators who warned that Trump was, in the words of Sen.
Red flags flew over Pensacola-area beaches in Florida's Panhandle, where swimming and wading in the Gulf of Mexico was prohibited. The storm is expected to move away from the southwestern Florida coast and reach coastal MS and Louisiana by late Tuesday .
As Federer's serving went from bad to worse, Millman - who was growing in confidence - immediately broke again to level the match. Millman is just the second player to defeat Federer in a Grand Slam , and the first to do it since Patrick Rafter back in 1999.
Here are some of the most revealing and disturbing excerpts from Woodward's book , which will be published on September 11. He always knows where I stand, and he and I both know this story is total BS. "It's either that or an orange jumpsuit".
That's really when you can just get away from everybody and everything and you can just sit back and realize where you're at. And cornerback Prince Amukamara was seeing more opportunities for interceptions with quarterbacks under pressure.
She also apologised again last night - after earlier telling Channel 5's Jeremy Vine how sorry she was on his programme. What happened with Roxanne Pallett and Ryan Thomas? "I've asked myself why I didn't I go and confront Ryan.
A hurricane warning was in effect for the entire MS and Alabama coasts with predictions Gordon would become a Category 1 storm . When the storm arrives at the north-central Gulf Coast, it is expected to have strengthened into a low-level hurricane.
Even more telling is Amazon's size when compared to the entire national stock markets of other countries. Bezos became the world's richest man in the process, with a net worth estimated at more than $140bn.
Woods agreed to be a vice captain in late February, and he set a goal to be in Paris on September 28-30 as a player. Woods and Mickelson were considered locks to make the US team, as of the PGA Championship in mid-August.
Real Madrid coach Julen Lopetegui spoke to Onda Cero show El transistor on Monday in an interview with José Ramón de la Morena. On the other hand, Cristiano Ronaldo scored 44 goals in all competitions, to Messi's 45, and assisted another 8.
The person spoke to The Associated Press on condition of anonymity because Nike hasn't officially announced the contract. Trump spoke with Vince Coglianese and Saagar Enjeti of the Daily Caller where he called Nike's ad a "terrible message".
Former senator Jon Kyl to replace John McCain in Senate
One of his first tasks will be to vote in President Donald Trump's nominee for United States Supreme Court, Brett Kavanaugh. Born in Oakland, Nebraska, Kyl received both his bachelor's and law degrees from the University of Arizona .
Federer out of US Open after losing to world number 55
Millman was out of tennis for almost a year between May of 2013 and April of 2014 because of a career-threatening shoulder injury. So, after all the anticipation for what seemed an inevitable quarter-final between Federer and Novak Djokovic , ...
Amazon becomes the country's second $1 trillion company
Apple took nearly 38 years as a public company to achieve the trillion dollar milestone, while Amazon got there in 21 years. Like most tech billionaires, Jeff Bezos's net worth rises and falls based on his company's performance in the stock market.
Lakers waive F Luol Deng midway through $72 million deal
Deng's limited action late in his first season with the Lakers was a move toward a youth movement, so it can be left aside. Veteran forward Luol Deng and the Los Angeles Lakers have reached an agreement on a buyout, league sources told ESPN .
Former senator Jon Kyl will fill Sen. John McCain's seat
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