Oil prices rose on Thursday on expectations of a hefty stockpile draw at the US oil storage hub at Cushing, Oklahoma, reversing the previous day's loses spurred by data showing USA crude output at its highest in two years.
It contains around 678.9 million barrels of crude oil, according to The Hill.
Oil held losses near the lowest close in more than three weeks as investors weighed expanding USA crude output against an extended decline in stockpiles during a period of strong seasonal demand.
USA production reached just over 9.5 million barrels a day last week, an increase of around 100,000 barrels per day on the prior week and the strongest level since the middle of 2015. It ranks first in oil futures trade.
WTI light sweet crude oil was down 70 cents at USD46.86 a barrel.
At 0700 GMT, October WTI crude oil futures are trading $47.00, up $0.06 or +0.13% and November Brent crude oil is at $50.22, up +0.12 or +0.24%. Look to use breaks to buy calls going into next year. Crude oil exports also rose, jumping to 877,000 bpd from 707,000 bpd. The SPR stores its federally owned oil stocks in underground salt caverns at four storage sites in Texas and Louisiana.
The UPI reported that the U.S. Department of Energy said it plans to sell some of the oil from the Strategic Petroleum Reserve, the world's largest emergency supply of oil.
Chaikin Money Flow (CMF), created by Marc Chaikin, is a technical analysis indicator used to measure Money Flow Volume over a window of time.
Crude oil prices were moving slightly lower early Thursday as sentiment about a balanced market competed against rising US and OPEC oil production. The rapidly closing long term contango structure in the oil futures market is at odds with the movements lower in spot crude and most certainly can not be explained by talk of OPEC noncompliance and peak oil demand, both of which are longer term indicators. However, recent data showed OPEC production rose in July because of weaker compliance with the accord as well as a resurgence in output in Libya and Nigeria. Not only must worry about replacing Venezuelan heavy crude to feed USA refiners, but a big drop in Saudi imports to the United States may leave some refiners stressed. Both nations are exempt from the pact because their oil industries have been disrupted by civil unrest.
Elliott's appeal will focus on the credibility of his ex-girlfriend, Tiffany Thompson , according to sources close to the rusher. In his rookie year, Elliott rushed for 1,631 yards and 15 touchdowns en route to earning first-team All-Pro honors in 2016.
Bennett, who is among several third-party candidates running in the November 7 general election. "He has stayed pretty positive". Curtis also touted his local support, his volunteers, and his campaign's efforts to keep from going negative.
Several minutes later, Trump tweeted again: "The public is learning (even more so) how dishonest the Fake News is". Trump also went after the media for what he said was "misrepresenting" his comments about "hate, bigotry, etc".
The most recent big Powerball win was awarded in June to a single victor in California who took home a jackpot of $447.8 million. While one of the largest jackpots in history , it is still far shy of the record: $1,586,400,000.
Lee was passed over for a spot on The Ultimate Fighter as a coach, but it is possible this was the UFC's plan all along. What about Khabib? According to White the vaunted grappler is still getting back to 100%, after undergoing surgery.
The Dodgers won Wednesday thanks to a three-run ninth, and they continue to run away with the top record in baseball at 85-34. They were the finest group of players Brooklyn has seen on one team, immortalized by Roger Kahn the author of Boys of Summer.
As it turned out not just the fans but also Bollywood superstar Shah Rukh Khan was concerned about Dilip Kumar's health. Last Year, when the veteran actor was honored with the Padma Vibhushan award, SRK expressed his feeling for him.
The first 100 attendees will receive free eclipse glasses which allow people to view the event in a simple and safe manner. Regular sky shows will be available at a reduced price of only $5 with a special eclipse show available for $2.
Let's hope that Google decides to use this feature because it will definitely give Pixel 2 an edge over its competition. This means that this years' Google Pixel 2 and Pixel XL 2 will also launch at the same time, which is early October.
Sensex jumps 154 points in early trade
In Asian trade, Japan's Nikkei was up 0.47 per cent while Hong Kong's Hang Seng rose 0.04 per cent in their early trade. A negative daily close would mark completion of the pullback, post which one can look to initiate fresh short position.
Federer gives up, Nadal regains the number one global
Alexander Zverev who claimed his second Masters 1000 title in Montreal on Sunday is also in the draw, again seeded fourth. With his return to No. 1 in the world, Nadal will face dominating expectations at the 2017 US Open .
Merck CEO quits Trump council over Charlottesville
The CEO of Intel announced his departure from President Donald Trump's American Manufacturing Council in a late Monday blog post . Since the events in Charlottesville , Ivanka Trump and Vice President Mike Pence have denounced the white supremacist groups.
Tanner Ainge loses primary election for Utah's US House seat
The race in this usually subdued political environment generated hundreds of thousands of dollars in spending and heated attacks. Utahns value the truth, not attack ads, and I'm running to tell the truth in Washington", Allen said in the prepared statement.
Everton medical today for Swansea midfielder Gylfi Sigurdsson
Their trip to Manchester City will be the clubs first real test of the season with several new faces taking over the squad. He has been linked with a move to Tottenham , but Koeman said last week there had been no offers for the England global .
Cedar Point unveils new coaster 'Steel Vengeance'
Take a virtual ride on Cedar Point's new record-breaking coaster, Steel Vengeance, in the video above to see it for yourself. Steel Vengeance, the tallest, fastest and longest hybrid roller coaster in the world, will stand at more than 200 feet tall.
German growth slower, but still strong ahead of election
The German economy, Europe's traditional growth engine, grew in line with the eurozone's 0.6 per cent average in the quarter. The preliminary estimate showed GDP growth rose by 0.6% between April-June compared with the same period a year ago .