Despite contentions that it isn't significant to overall inventory, a massive drop in USA stockpiles calmed fears of oversupply and caused crude prices to surge upward on Wednesday, with West Texas Intermediate rising 78 cents to $69.30 and Brent climbing 49 cents to $73.93 per barrel. Meanwhile, China announced a package of policies to spur domestic growth in the face of rising trade frictions with the U.S. "So, in that way, we don't see any problem which may come our way", he said.
A newly-formed group of young dissidents inside Iran has sent a letter to US Secretary of State Mike Pompeo warning.
"On May 8, 2018, the USA announced that it was walking out of the Joint Comprehensive Plan of Action with Iran and released a FAQ (frequently asked questions) regarding the re-imposition of sanctions on entities engaged with Iran, including import of crude from Iran", the minister said.
25 de julio de 2018, 10:36New York, Jul 25 (Prensa Latina) Oil prices were quoted with gains in New York and London today, driven by a larger-than-expected fall in U.S. oil reserves in the previous week.
Following U.S. President Donald Trump's decision to quit the historic Iranian nuclear pact on May 8, Washington vowed to re-impose sanctions against Iran and inflict punishments on countries that have business links with Tehran. Total volume traded was about 52 percent below the 100-day average.
Iowa college student Mollie Tibbetts missing since going jogging Wednesday
Mollie wrapped up her freshman year at the University of Iowa , where she majors in Sociology, in the spring. Anyone with information about her is urged to contact the Poweshiek County Sheriff's Office at 641-623-5679.
Brent crude futures rose 15 cents to $73.59 a barrel, a 0.2 percent gain, by 11:07 a.m. EDT. Brent, the global benchmark, was up 0.53% to $74.14 a barrel. Refinery utilization rates fell by 0.5 percentage point.
"Trump! You must not threaten our nation and must not insult our president..."
Oil prices edged higher for a second day on July 25 due to falling USA crude inventories and concerns about Iran and Venezuela.
Sentiment was also supported by an International Monetary Fund (IMF) report about skyrocketing inflation in Venezuela, limiting its ability to boost oil output, Innes said.
Meanwhile, Rouhani warned the USA that conflict with Iran would be the "mother of all wars", and to stop pursuing hostile policies against the Persian Gulf state including threatening its oil exports.
The main risks include increasing financial vulnerabilities, heightening trade and geopolitical tensions, as well as structurally weak growth, according to the statement published by G-20 after their two-day summit in Buenos Aires.