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Oil prices rebound amid U.S. inventory data
23 September 2017, 01:20 | Katrina Lee
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It was trading up at $50.
Nov. WTI added 79 cents, or 1.6%, to settle at $50.69/bbl.
Elsewhere, Brent oil for November delivery on the ICE Futures Exchange in London was up 19 cents or about 0.34% at $56.10 a barrel, after hitting a fresh five-month high of $56.30 overnight.
Eleven analysts polled ahead of inventory reports from the industry group American Petroleum Institute (API) and the U.S. Department of Energy's Energy Information Administration (EIA) estimated, on average, that crude stocks likely rose 3.5 million barrels in the week ended September 15.
Prices were supported after the American Petroleum Institute said on Tuesday that us crude stocks rose last week, while gasoline and distillate stocks decreased.
"Nearly a month after Hurricane Harvey made landfall in South Texas, the data are finally signaling a return to more normal operations in the region", said Troy Vincent, oil analyst at ClipperData. "Shale [output] has shown how fast it can come back online". The S&P Global Platts survey forecasts a fall of 800,000 barrels for gasoline and a 1 million-barrel draw for distillates. The October contract expired Wednesday after gaining 1.9 percent to close at $50.41. Moreover, a report by the International Energy Agency (IEA) stated the glut is minimizing due to production declines in non-OPEC and OPEC countries and strong European and USA demand. "For example, production and processing weakened due to Harvey hurricane in Mexico gulf and this led to Brent crude to rise up to $52 a barrel".
Messi nets 3 as Barcelona routs Espanyol 5-0
Samuel Umtiti blocked a goal-bound strike from Espanyol winger Leo Baptistao before Barcelona wrapped things up after 67 minutes. Espanyol almost pulled a goal back just before the break when Pablo Piatti rattled the upright from the edge of the box.
AL power crews to help restoration efforts in FL
The task that lies ahead is big, he said, noting downed infrastructure can force crews to start from scratch and build anew. To help restore power, Dixie Electric in Montgomery is sending two-five person crews to Clay Electric in Florida to assist.
Well, NASA's Cassini is dead
But the agency didn't want to risk Cassini accidentally crashing into one of these moons and spreading around Earth microbes. Dutiful to the end, the spacecraft sampled Saturn's atmosphere Friday morning as it made its final plunge .
At least 18 Egyptian police killed in attack on Sinai convoy
Police were met with gunfire when they attempted to execute an arrest warrant on the suspects at dawn, according to the ministry. At least 26 Egyptian soldiers were killed or wounded on July 7, 2017, in attacks on checkpoints in the Sinai Peninsula .
Phillies Pitcher Records an Out With His Jersey
Hector Neris recorded his 22nd save for the Phillies despite allowing a solo homer to Curtis Granderson in the ninth. And he's at four, so I definitely know he's trending in the right way. "You can see him feeling for things".
This is the Mercedes-AMG Project One
Combined with an electric motor that powers the front wheels , the Project One pumps out power of around 1000 horses. Our man David Tracy, live on the scene, tells us that in the flesh it looks stunning and better than in the photos.