Topics : Oil prices soared on Thursday after US President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of oil producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels per day, as the two countries signaled willingness to make a deal.That set off a swift rally in oil markets, with Brent futures soaring $4.80, or 19%, to $29.56 a barrel by 11:42 a.m. EDT (1542 GMT), while US West Texas Intermediate (WTI) crude rose $4.59, or 23%, to $22.55. Oil markets have been under pressure ever since early March, when Saudi Arabia and Russia were unable to come to terms on a deal to curb production, and the Saudis responded by boosting output to more than 12 million bpd and shipping out cargoes worldwide at discounted prices. Since then, the worsening of the coronavirus pandemic has severely cut fuel demand, pushing US crude as low as about $20 per barrel.With fuel demand expected to fall by 20% to 30% in the coming months, pressure was building on the oil producers to come to a deal, and Trump expressed growing frustration about the price of oil and its effect on the energy industry. He is meeting with major energy chief executives at the White House on Friday.A cut of 10 million to 15 million barrels per day would be unprecedented, and would likely need the participation of numerous countries outside of OPEC and its allies.Texas regulators are exploring the possibility of cutting production in that state, which produces more than 5 million barrels per day.”It’s one thing to send optimistic tweets and quite another to coordinate actual production cuts when Russia dragged its feet throughout the OPEC+ era and the US has no controlling authority to implement production limits,” said Sandy Fielden, director of oil and products research at Morningstar in Austin, Texas. Saudi Arabia was expected to call an emergency meeting of the Organization of Petroleum Exporting Countries. The Wall Street Journal reported that the kingdom would consider dropping output to roughly 9 million barrels per day, or about 3 million bpd less than what it planned on pumping in April.”The question will come down to, will they be able to agree to something? It’s taken couple of weeks of Brent at $25 and WTI at $20 and it seems as if Russians are more approachable than they were a month ago,” said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connecticut.Trump did not specify that the cut referred to barrels per day, but that is the most common way oil markets refer to supply and demand.Earlier in the session, Brent soared as much as 47%, its highest gain ever. WTI, meanwhile, jumped as much as 35%, which was it second highest ever following an intraday gain of 36% on March 19.
15 Views no discussions Sharing is caring! Share Share Tweet Court gavel. Photo credit: kirtok.comA young man who believes he has the potential to be a good product of society found himself at the Court’s mercy on Thursday when he pleaded guilty to possession of Cannabis.Harry George Blanc of Jimmit was charged for possession of cannabis in Mahaut on June 5th, 2012.According to the police prosecutor Blanc who was in the vicinity of the Lab, a popular bar in Mahaut, had a brown paper bag and started walking briskly after spotting police officers on foot patrol in the area.The officers approached Blanc and asked if they search him to which he replied; “marijuana I have in my bag for me to smoke”.He was then arrested and taken into police custody.In mitigation Blanc said the facts given by the prosecutor was not entirely true.“I didn’t walk away briskly because I didn’t even know they were police officers”.He further stated “I believe I can be a productive citizen in society. I work; as a matter of fact I was coming from work at Donkey Beach where I do spray painting”.Magistrate Candia Carette- George told Blanc that if he feels he has such “potential” he should “stop smoking”.He then informed the court that his “situation” was “special” but it was a “long complicated” story.He went on to explain that because he is “alone” most of the times, he considers smoking as a form of “company”.The magistrate encouraged him to “make friends”, but he told her “that not working for me”.Before sentencing, Carrette- George told Blanc what would “save” him is the fact that he is a first time offender and therefore he would not receive a custodial sentence.She told him that he is a “young man” with “opportunities” available to him.He was fined $500.00 to be paid by June 30th, 2012 or in default he will serve one (1) month in prison.Dominica Vibes News LocalNews ‘I can be a productive citizen in society’ Mahaut man tells magistrate by: – June 11, 2012 Share read more
Morrow had a scope on his elbow a month ago. Could impact avail in April— Jesse Rogers (@ESPNChiCubs) December 6, 2018″This was a cleanup of some cartilage, done arthroscopically,” Cubs president of baseball operations Theo Epstein said Thursday.He added: “Doing well. Progressing without limitations.” Related News Morrow was limited to 35 games in 2018 as he dealt with back and arm injuries. MLB hot stove: Twins finalizing 1-year deal with 2B Jonathan Schoop, report says Cubs closer Brandon Morrow is likely to miss even more time.According to ESPN, Morrow underwent minor surgery on his elbow last month and may have to miss some games to start the 2019 season. He tallied 22 saves with a 1.47 ERA.According to ESPN, the Cubs may now be more active in the free-agent market for relievers.The report says Chicago has shown some interest in Yankees reliever Zach Britton, but nothing is imminent. read more
Cosby from Leicestershire and Rutland have won the Junior Champion Club Tournament without striking a ball today. The remnants of Hurricane Bertha were to blame after it left the Bracken Course unplayable, forcing officials to abandon the round after less than three hours play.Persistent heavy rain from a dark gray sky following an overnight downpour left the fairways waterlogged and only half the field had begun their second rounds when a halt was called.“The continual rain left the fairways unplayable,” said chief referee Michael Rees. “If the rain had stopped we might have been able to resume. But it would have taken more than an hour to clear the surface water.“The greens were fine but the fairways were the problem. What’s more, the forecast was for more rain and some of the teams had a long way to travel home. So I had to make a decision which was a pity.”But that didn’t worry the Cosby trio (image © Leaderboard Photography), who had afternoon start times, although they were disappointed they were unable to add to their opening 72 Stableford points.“We weren’t expecting play to be cancelled,” said Stuart Kinnaird, who returned 36 points in round one. “We knew the weather was going to be poor but I was looking to put in another good round. Having said that, we are overwhelmed to win a national championship.”Ross Murgatroyd, who also returned a first round 36 points, added: “I am shocked this has turned out this way. We were last off in the afternoon and expecting to be out there again.“Our club has reached three finals this year and we have won the first of the trio. I think this is the first time our club has won anything like this.”The third member of the team, Matt Jones said: “I had the worst round yesterday and was looking to make up for it today. So I need to thank the other lads for helping me out.”Although they finished round one on 71 points along with three other teams, Tiverton took second place because their non-scoring member, Grace Jackson, scored 32 points. This was one more than Huxley Howell of Saltford who were third.For more information visit the championship website. 10 Aug 2014 Cosby crowned champions after rain stops play read more