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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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rocky
rocky
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Posts : 229766
Join date : 2012-12-21

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Post by rocky Sat 04 Nov 2017, 8:49 am

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Singapore 
oil rises as Opec production cuts continue
Oil prices rose on Friday thanks to OPEC-led supply cuts that narrowed the gap between supply and demand in the market and supported by strong demand, but some analysts pointed to the need to extend cuts to counter rising US production. 
By 0739 GMT, global benchmark crude hit $ 60.75 a barrel, up 13 cents, or 0.2 percent, from the previous settlement price. Brent has risen nearly 37 percent since hitting its lowest level in 2017 in June. 
West Texas Intermediate crude was $ 54.70 a barrel, up 16 cents, or 0.3 percent, from the previous settlement price. US crude rose nearly 30 percent from a record low of 2017 in June.
Oil prices are also rising in the current market as Saudi Aramco raised the official sale price of its Arab light crude in December to its Asian customers by 65 cents a barrel from November to $ 1.25 above the average of Oman and Dubai. This is the highest level since September 2014. Futures prices, among other reasons, including the decision by the Organization of Petroleum Exporting Countries (OPEC) and some outside producers, including Russia, to cut production by 1.8 million barrels per day to reduce supply in the market. 
The supply reduction agreement is in place until March 2018. While expectations of an extension of the agreement by the end of 2018 are increasing, no agreement has yet been reached on the extension. 
Analysts say that without the extension of the cuts, the supply gap may return.
"Our estimated oil figures include a limited global drawdown of stocks in 2017, which is hardly enough to compensate for the substantial increases from 2014 to 2016. Furthermore, we estimate the resumption of global stockpiles in the world," said Harry Chilinguirian of BNP Paribas. 2018 ". 
He added that the rise in US production, which has increased more than 13 percent since mid-2016 to 9.6 million barrels per day, led to increased exports. 
The US Energy Information Administration said this week that the latest data on US crude exports point to a record high of 2.1 million barrels per day. 
"With the export of the US oil surplus increasing ... it may be difficult for Brent to consolidate at $ 60 a barrel in 2018," he said, adding that average US crude and Brent are expected to reach $ 50 and $ 55 a barrel, respectively, in 2018.
 
London The 
dollar fluctuated as US jobs data awaited
The dollar posted minor moves up and down on Friday after a week-long loss as markets awaited US jobs data to pull the currency out of recent ranges, and some market analysts say the currency may have peaked at the moment. 
The Australian dollar was the biggest loser on Friday, falling 0.5 percent after disappointing retail sales data. 
Sterling fell to a one-month low after falling on Thursday. 
The market showed little reaction to the nomination of US President Donald Trump on Thursday as Federal Reserve Board chairman Jerome Baal, chairman of the Federal Reserve. 
The US nonfarm payrolls report is expected to rise again in October after falling in September.
The dollar index, which tracks the performance of the greenback against a basket of currencies, rose 0.1 percent to 94.817, up from a week low of 94.411 on Thursday. 
The Australian dollar fell 0.5 percent to $ 0.7651 as it was pressured by data showing retail sales stabilized in September, below market expectations of a 0.4 percent increase on a monthly basis. 
The pound continued to fall after hitting its biggest daily loss against the US dollar since June on Thursday, when the Bank of England raised interest rates for the first time in more than a decade, but said it expected only gradual increases in the future. 
Sterling fell 0.2 percent to $ 1.3040, its lowest level since October 6, after losing 1.4 percent on Thursday.


http://almadapaper.net/ar/news/538554/%D8%AE%D8%A7%D8%B1%D8%AC-%D8%A7%D9%84%D8%AD%D8%AF%D9%88%D8%AF

    Current date/time is Sat 26 Nov 2022, 8:54 pm