“The major driver this week has been U.S. dollar strength against a backdrop of ongoing refusal to respond rationally to the current market surplus on the supply side”, said Mr Michael McCarthy, a chief markets strategist at CMC Markets in Sydney.
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Meek Mill could face prison for violating probation
Common Pleas Judge Genece Brinkley sent the entertainer back to jail for five months { last year She also said that she would assist Meek Mill with his probation.
Futures slipped 1 per cent in NY after losing 4.9 per cent yesterday.
EU sets six-month deadline to rule on border guard plan
Share with Us – We’d love to hear eyewitness accounts, the history behind an article, and smart, constructive criticism. German Chancellor Angela Merkel also underlined that she “very strongly supports” the plan.
Traders are preparing for even lower crude prices next year, taking up increasing amounts of put options to sell USA crude in February should prices fall to $30, $25 or even $20 per barrel, according to Reuters data.
‘Star Wars: The Force Awakens’ Broke Box Office Records Last Night
While spoilers will not be given out, the film was full of surprises while paying homage to both trilogies that came before it. Greenfield said the success of “Force Awakens” would not be enough to offset the impact of subscriber losses at ESPN.
West Texas Intermediate for January delivery, the front-month contract, was down 5 cents to $35.47 a barrel by 0742 GMT after finishing down almost 5 percent on Wednesday. Total volume was 39 per cent above the 100-day average.
January oil lost 57 cents, or 1.6%, to settle at USD34.95/bbl on Nymex – its lowest since February 2009.
Brent was up 15 cents at $37.21 a barrel. The spread has shrunk amid speculation the plan to allow domestic crude to be shipped overseas may help alleviate the U.S. supply glut.
OPEC raised crude production to the highest in more than three years in November and scrapped its output ceiling at a Dec 4 meeting as it pressed on with a strategy to protect market share and pressure competing producers.
“We still see high risks that prices may decline further, as storage continues to fill”, Damien Courvalin, a Goldman Sachs analyst in NY, said in the report. Analysts said such a move in the run up to year-end would be likely. Still, crude-storage tanks may reach their limit, pushing oil down to levels necessary to force an immediate halt to some production, the bank said.
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Crude futures fell in Asian trading on Friday as fresh signs of inventory building and the Federal Reserves rate hike this week kept prices under pressure amid a global glut of oil that shows no sign of abating.
