India's oil imports from Iran down 57% in April

India's oil imports from Iran down 57% in April

American benchmark West Texas Intermediate was at $62.05 a barrel at the same time for a 0.81% gain after ending the previous session at $61.55 per barrel.

Late Tuesday, the API reported that USA crude oil supplies rose by 2.8 million barrels for the week-ended May 3.

United States President Donald Trump on Sunday announced he would hike tariffs on $200 billion worth of Chinese goods this week. "'Don't do business with this people until they understand that there is a way to that you conduct yourself in the global community'".

In today's chart, we examine this theory by charting the S&P 500 Index next to Crude Oil prices.

Washington has also slapped sanctions on Venezuelan oil exports, further disrupting crude supply.

Crude from the USA, an alternative exporter, comes at a hefty price. Wage growth is wholesome " And prices at the pump aren't even up considerably over the past season: The AAA reports that US gas prices average $2.84 per gallon, compared to $2.76 per gallon one year ago. However, the markets turned lower for the session after a private-industry report showed a weekly rise in USA crude supply.

Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output would stay under its production quota under a global deal to cut supply, a Gulf source familiar with Saudi oil plans said.

EIA forecast Brent spot prices will average 70 dollars per barrel in 2019 and 67 dollars per barrel in 2020, both about 5 dollars per barrel higher than in last month's STEO, compared with an average of 71 dollars per barrel in 2018.

Oil prices steadied on Wednesday as concerns about a deepening trade spat between the United States and China offset record Chinese imports and tighter global supplies.

India is scheduled to receive two crude carriers carrying 4 million barrels of Iranian oil this month.

The U.S. bank said "we therefore expect a near-term Brent rebound", although it added that "beyond the next couple months ... all these supply and demand cross-currents will dissipate to bring a balanced global oil market, once new (U.S.) Permian transport capacity is online and core-OPEC ramps up".

Meanwhile, holdings of SPDR Gold Trust, the world's largest gold backed exchange, were at their lowest since October 11.

"Nonetheless, the probability of renewed escalation of the U.S". Iran has said it will defy the sanctions and continue to export oil.

Fewer than ten Nigerian cargoes remain for May loading and about half of the Nigerian cargoes for June loading also remain, traders said.

Related news:

Hot News

isis-killer-beheading-video-story-top Met Gala 2019: Everything you need to know
May 08, 2019 - 11:48
Trends on the pink carpet included gold lame and sequins, feathers, neon, and oversized sleeves, skirts and trains. For her look at the 2019 Met Gala , the moisturizer kept Gaga's makeup from piling.

isis-killer-beheading-video-story-top Barcelona defence looked like schoolboys against Liverpool - Luis Suarez
May 08, 2019 - 11:44
Once again the Catalan giants, who last won the Champions League in 2015, wilted when the stakes were highest. Asked about the set-piece at full-time, the Liverpool defender told BT Sport: "It was just instinctive".

isis-killer-beheading-video-story-top Palestinians claim ceasefire reached with Israel
May 08, 2019 - 11:42
The distinction is that Israel's deadly response to the alleged Hamas hacking attempt occurred practically in real time . Even within his own ruling Likud Party, Netanyahu faced unusual criticism for not going further to quash Gaza militants.

isis-killer-beheading-video-story-top Boeing admits knowing of 737 Max problem
May 08, 2019 - 11:40
A shoe rests amidst other debris just outside the crater where Ethiopian Airlines flight ET302 crashed on March 10, 2019. Boeing has admitted it knew about a missing feature on its 737 Max plans a year before the first of two fatal crashes.

isis-killer-beheading-video-story-top WATCH Kim Kardashian Get Fitted For Her SEXY Met Gala Look!
May 08, 2019 - 11:32
Cher made an appearance at the 2019 Met Gala , hitting the stage to sing a number of her hits including Strong Enough and Believe .

isis-killer-beheading-video-story-top The Next Three Star Wars Films Get Release Dates
May 08, 2019 - 11:22
What all of these films have in common is that they were well on their way to being made at the time that Disney acquired Fox. Aside from the Avatar sequels being delayed, the troubled New Mutants movies has been pushed back again to April 3, 2020.

isis-killer-beheading-video-story-top Homa wins Wells Fargo Championship by three strokes
May 08, 2019 - 11:19
He's tied for seventh with Seamus Power at 7-under for the tournament and four behind the leaders. McIlroy made double bogey at No. 8, and then went over the green on No. 9 for a bogey and a 70.

isis-killer-beheading-video-story-top The New Spider-Man: Far From Home Trailer Swings In!
May 07, 2019 - 05:31
It's clear that the film takes place after Avengers 4 and Peter Parker is hurting after having just lost Tony Stark. He's grown so exhausted of that Avengers life, Spidey even refuses a call to adventure from Nick Fury ( Samuel L.

isis-killer-beheading-video-story-top Pixel 3a XL’s Expensive Price for India Has Been Leaked
May 07, 2019 - 04:58
Now it seems things are changing up a bit as more carriers seem to be getting the green light to carry the devices. It's the beginning of the month which means a brand new Pixel Android 9 Pie update for May is now available.

isis-killer-beheading-video-story-top Biden calls Trump a 'clown' - Biden calls Trump a 'clown'
May 07, 2019 - 04:07
Holmes responded that he'd "love" to give Sanders more room because it hands more votes to Republicans during a general election. US Democratic presidential candidate former Vice President Joe Biden holds a campaign stop in Des Moines, Iowa May 1, 2019.

isis-killer-beheading-video-story-top Lady Gaga Wore Marc Jacobs for a Pre-Met Gala Dinner
May 07, 2019 - 01:29
Lady Gaga killing it at the "Manus x Machina: Fashion in an Age of Technology" themed Met Gala . Fashionistas get ready - this year's most exclusive red carpet is next week.

isis-killer-beheading-video-story-top Thailand's King Vajiralongkorn crowned as divine monarch
May 06, 2019 - 04:59
The coronation of Thailand's King Maha Vajiralongkorn took place on Saturday, the country's first coronation in seven decades. Carrying the ornate palanquin were 16 men, with others ready to replace in shifts them during the long, hot march.

isis-killer-beheading-video-story-top Trump's threat could lead to higher Apple iPhone prices in the states
May 06, 2019 - 04:40
So far, the Chinese side in the talks has agreed for China to buy more USA products, mainly in the farm and energy sectors. But Trump and China's President Xi Jinping agreed in December to refrain from further escalation.

isis-killer-beheading-video-story-top 'We screwed up' not buying Google shares, Berkshire's Munger says
May 06, 2019 - 00:33
Berkshire Hathaway CEO Warren Buffett tells FOX Business' Liz Claman that he paid too much for Kraft Heinz. Keep up with live updates on the Berkshire Hathaway 2019 Annual Shareholders Meeting here.

isis-killer-beheading-video-story-top 'Avengers: Endgame' Beats $2 Billion Box Office Record! | Avengers, Avengers: Endgame, Movies
May 06, 2019 - 00:20
Captain Marvel and Endgame both made over a billion dollars, and the House of the Mouse has several other hits on the way. While it took Avatar 47 days to pass $ 2 billion , Endgame did it in only twelve, which is a huge feat.