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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


    Brent stable after heavy losses with the return of sanctions Iran to focus

    Rocky
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    • Post n°1

    Brent stable after heavy losses with the return of sanctions Iran to focus Empty Brent stable after heavy losses with the return of sanctions Iran to focus

    Post by Rocky Wed 24 Oct 2018, 3:03 am

    Brent stable after heavy losses with the return of sanctions Iran to focus


    Brent stable after heavy losses with the return of sanctions Iran to focus 8819

    The price of Brent crude on Wednesday, after heavy losses the day before as the focus returned to the imminent US sanctions on Iran.
    As of 0658 GMT, Brent crude was at $ 76.52 a barrel, up 1 cent from the previous close.
    US crude futures fell 10 cents to $ 66.33 a barrel on the back of the US Petroleum Institute's report that US crude inventories rose 9.9 million barrels over the week ending October 19 to 418.4 million barrels.
    Crude prices fell between four and five percent in the previous session.
    Saudi Energy Minister Khalid al-Faleh said on Tuesday that despite expected supply delays due to US sanctions on Iran starting from November 4, Saudi Arabia will step up efforts to "meet any demand that crystallizes to ensure consumer satisfaction."
    Still, analysts said markets were still scarce due to sanctions.
    "We will see Brent up to $ 85 a barrel by the end of the year," Morgan Stanley said.
    In China, Iran's biggest oil buyer, Kunlun Bank is due to stop payment settlement with Tehran next month, four sources told Reuters.
    Kunlun is under the control of the financial arm of China's state-owned National Petroleum Corporation (CNPC), the main official channel of China-Iran money flows.
    As the two countries' financial ties are cut off in November, Chinese oil companies will have to find an alternative to Iran's crude.
    China bought 800,000 barrels per day (bpd) from Iran in August, the peak level for the current year, according to Rev. Aikon.

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