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Also, a report from Genscape showed a rise of one million barrels in crude oil inventories at Cushing, Oklahoma.
In this series, we'll take a look at the correlations between crude oil-weighted stocks and crude oil. At 1:53 pm GMT, the Comex gold futures contract for February delivery was 0.31% or $3.80 higher at $1,235.90 an ounce. Statoil ASA said it would make another US$1 billion (RM4.4 billion) of cost cuts this year after posting a surprise loss, while BP Plc said it still needs to borrow money to cover spending and dividends at current oil prices.
Price support was coming from an effort by the Organization of the Petroleum Exporting Countries (Opec) and other exporters to cut output by nearly 1.8 million barrels per day (bpd) in the first half of 2017. After the average oil price fell to its lowest in 12 years at $44 a barrel last year, BP said it expected prices to have found a floor for this year at $50 a barrel following a decision by major Opec and non-Opec producers to limit output. "The US will see in the second quarter a significant increase in local supply compared to a year ago".
"We expect USA crude oil production to be about 250,000 barrels per day higher than a year ago in the second quarter", he said.
At 6:17pm GMT, the Brent front month future contract for April delivery was down 1.58% or $0.88 to $51.94 per barrel, while the West Texas Intermediate (WTI) was 2.02% or $1.07 lower at $54.84 per barrel, as data published Baker Hughes pointed to yet another uptick in the number of USA and Canadian rigs. Total volume traded was about 27 per cent below the 100-day average.
The trading boom that cushioned the profits of Royal Dutch Shell Plc and BP through the price slump appears to be over. Brent crude was down 66 cents or 1.18 percent to US$54.82. These companies' trading divisions thrived in 2015 and 2016 because an unusually strong contango - where contracts for future delivery trade higher than spot prices - made it profitable to store oil. The global benchmark closed at a $US2.27 premium to April WTI.
This set up an exciting finish as Cameroon continued to pressurise the Egyptians and looked the more likely to find a victor . Cameroon ended their 15-year wait to lift the Africa Cup of Nations after beating Egypt 2-1 in Sunday night's final in Gabon.
According to broadcaster France Info, the suspected attacker carrying a rucksack attempted a knife attack on the soldier. He said the situation around the landmark museum is "totally under control" but the overall threat to France remains.
Ringler and the women in her congregation will be wearing the hijabs on Wednesdays for the next month, maybe longer, she said. Senior Ravie Boungou told her classmates that wearing hijab is like putting on a new pair of high heels.
Meanwhile, Lego regained its status as the world's most powerful brand ahead of the "Lego Batman Movie" release. In comparison, Optus was the ninth ranked Australian brand, recording a 12 per cent decline in brand value.
Democrats must channel all of that outrage in a persuasive direction if they are going to stop her confirmation before the Senate. Susan Collins of ME and Lisa Murkowski of Alaska, said they remained uncertain if they will vote for her on the Senate floor.
Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ford Motor Company by 4.6% in the second quarter. The difference between the expected and actual EPS was $-0.01/share, which represents an Earnings surprise of -3.2%.
An aerial view of the prison showed about two dozen men standing in three groups on an open space of prison's sprawling campus. There was an assault at the same prison last week, on Saturday, an inmate squirted an unknown liquid at a correction officer.
Attorney General Mukul Rohatgi had last week informed the Supreme Court that the Centre would withdraw its earlier notification. The bench said, "Tell your government that law and order is primacy in civilized society and we can't tolerate such incidents".
Officials said 37-year-old Rob Stewart had gone missing Tuesday afternoon in the vicinity of Alligator Reef, off Islamorada. Despite the Coast Guard's decision to suspend the search, Stewart's parents said they aren't giving up.
BU wouldn't disclose their identities, to protect them from potential backlash, spokesperson Renee Charles said. I strongly support the statement from the Association of American Universities , of which we are a member.
Trump on Friday signed an executive order that suspended refugees from immigrating to the United States for 120 days. The newspaper said Vayeghan was on a plane to Tehran by the time the judge issued the order.
Civilian casualties in Afghanistan hit record high
Civilian casualties caused by Daesh loyalists in Afghanistan also increased by nearly 10 times during the same time period. Such airstrikes caused 250 deaths and 340 injuries, almost double the number recorded in 2015 and the highest since 2009.
JVP Statement on Passage of "Outpost Legalization" Bill
Britain has long opposed the policy of settlement building on occupied Palestinian land, believing it to be a barrier to peace. Our correspondent said that the Palestinian land owners could take their case to the Supreme Court as early as Tuesday.
Lady Gaga drove a Lamborghini to the Super Bowl
Meanwhile, Gaga recently offered an insight into her Super Bowl performance, revealing the show will "span her career so far". And before she takes center stage at Sunday's big game, Gaga got a little candid in a radio interview.
Comcast Xfinity App Launches on Roku Players and TVs
There's a bit of confusion over how cable operator Comcast will treat Roku devices on its network, in terms of the pricing. This is also how a secondary outlet that connects to Comcast's network via a TiVo would be charged and credited.
Snapchat files plans for stock market listing
An average of 158 million people use the Snapchat app on a daily basis, and they create 2.5 billion snaps a day. Last year, Snap posted revenues of $404.5 million but also a hefty net loss of $514.6 million.
Frontier Adding Routes This Spring
After more than a decade of downsizing, Delta Air Lines is growing at Cincinnati/Northern Kentucky International Airport. Frontier officials will be at Cleveland Hopkins this afternoon to celebrate the new service announcement.
Vancouver mosque hosts Quebec shooting vigil
President Donald Trump also spoke to Trudeau by phone Monday to offer his condolences to all Canadians in the wake of the deaths. Trustee Haroon Khan says a handful of people gathered at the mosque last night, once the news broke about the shooting.
Barcelona qualify for 7th consecutive Copa del Rey semi-finals
The upside of Barcelona and Atletico Madrid squaring off in the semis is that they'll play twice, as opposed to the one-off final. In the midweek quarter-final Barcelona completed a 6-2 aggregate rout of Real Sociedad while Atletico beat Eibar 5-2.