Established in 2006 as a Community of Reality

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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.

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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


    Black gold retreated from its highest level in two years

    Rocky
    Rocky
    Rocky
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    Posts : 281267
    Join date : 2012-12-21
    • Post n°1

    Black gold retreated from its highest level in two years Empty Black gold retreated from its highest level in two years

    Post by Rocky Thu 28 Dec 2017, 2:17 am

    [size=30]Black gold retreated from its highest level in two years[/size]
    28/12/2017 11:07 | Number of readings: 1
    font size:  Black gold retreated from its highest level in two years Font_decrease  Black gold retreated from its highest level in two years Font_enlarge
    Black gold retreated from its highest level in two years Thumbnail.php?file=3c8b5be5ee21421caed4d9d7683427d0_637987161
    Trend Press / Agencies
     
     
    Oil prices fell on Thursday, after hitting a two-and-a-half-year high in the previous session and analysts confirmed that the wave of upward momentum is gradually losing momentum despite the disruption of supplies in Libya and the North Sea.
     
    Brent crude futures fell 1.15 percent to $ 66.26 a barrel, after surpassing $ 67 for the first time since May 2015 in the previous session.
     
    US WTI crude futures were $ 59.57 a barrel, down 40 cents from the previous settlement. US crude exceeded $ 60 a barrel for the first time since June 2015 in the previous session.
     
    JBC Energy believes that the market "will gradually realize that it has gone too high." "Prices may fall below $ 60 a barrel last February and may even test $ 55."
     
    Libya lost nearly 90,000 barrels per day (bpd) of crude oil supplies following a first-day blast on a pipeline to the port of Sidr that led to an increase in idle production in recent weeks, including the closure of the Fortis pipeline, the largest in Britain. Pipelines resume full flows across the line in early January. "
     
    The disruption of the Fortis pipeline and the Libyan pipeline, which together contribute about 500,000 bpd, is a small bump in a global context where production and demand are close to 100 million bpd.
     
    In a related context, a source in the oil trade that "Libya canceled the process of anchoring an oil tanker was scheduled to be loaded with one million barrels of oil at the port of Sidr oil, because of the explosion occurred yesterday in a pipeline to the port."
     
    The cargo was expected to be loaded by the tanker on behalf of UNIPEC and a shipping source confirmed that the tanker would dock at the port on Wednesday morning.
     
    In a statement, the Libyan National Oil Corporation said that the production fell between 70 thousand and 100 thousand barrels per day, adding that the cause of the explosion is unclear.
     
    An official at Libya's oil company Waha said the damage to the crude pipeline operated by the company and exposed to an explosion was still in need of an assessment.
     
    A senior company team was on its way to the site, about 130 km south of the Sidr port, to assess the damage and determine the time it would take for repairs, he said.

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