Crude oil shipments from Canada to USA to jump 60% in 2018

Gulf OPEC Producers Plan To Keep Q1 Oil Output Below Year-earlier Level

US oil prices rose $1.44 to $63.17 a barrel in NY on Tuesday, the highest level in three years, partly on expectations of further declines in the nation's oil stockpile. Platts last week expected a 5.7 barrel million draw, though federal data showed a decrease of 7.4 million barrels.

"Nearly all of the utility-scale power plants in the United States that were retired from 2008 through 2017 were fueled by fossil fuels", the document said. "But market participants could also use the sharp drop in production as an excuse to buy", said Carsten Fritsch, oil analyst at Commerzbank AG in Frankfurt, Germany.

One day after a persuasive argument was made that fundamentals aren't strong enough to support current crude prices, West Texas Intermediate on Tuesday skyrocketed by $1.23 to settle at a more than three year high of $62.96, and Brent reached $69.08, its highest level since May of 2015. The highest prices were in September.

Rail shipments of Canadian crude oil to USA refineries could grow by 60% in 2018, Kallanish Energy learns.

More news: Winter storm watch issued for OH from Friday afternoon through Saturday morning

Crude oil futures continued to rise Wednesday, extending 4-year highs amid further signs the global oil market is tightening.

"When it comes to hedge fund buying in general the commodities trade is front-and-center and that momentum is building for oil", said Rob Thummel, portfolio manager at energy investment manager Tortoise in Leawood, Kansas.

The U.S. shale boom played a major part in a historic price collapse in 2014, and the recovery from shale fields threatens to weigh on oil prices.

Federal U.S. estimates show total crude oil production hit 9.78 million barrels per day in the week ending December 15, a record high that Craig said was out of reach because of the recent U.S. cold snap. OPEC, along with non-members including Russian Federation, have extended through the end of this year a deal to cut supply by 1.8 million bpd.

Related News:

  • Browns Hire Eliot Wolf As Assistant GM

    Browns Hire Eliot Wolf As Assistant GM

    So the Packers managed to piss just about everyone else in the front office off in hiring Brian Gutekunst as general manager. Jimmy Noel was named assistant director of pro scouting, Matt Donahoe as scout and Dan Zegers as personnel coordinator.
    Russian Federation  probe: Trump says interview with Mueller 'unlikely'

    Russian Federation probe: Trump says interview with Mueller 'unlikely'

    Robert Mueller's team of investigators has reportedly expressed interest in speaking with the USA president in person, though no date has been set.
    Sleeping More Could Help You Cut Down On Sugar And Lose Weight

    Sleeping More Could Help You Cut Down On Sugar And Lose Weight

    There were no significant diet differences shown in the group who did not change their sleeping habits during the study. Overall, the group ate an average of 10 grams less of free sugars a day as a result of sleeping longer.
  • Huma Abedin and Anthony Weiner call off divorce

    Huma Abedin and Anthony Weiner call off divorce

    Weiner reported to prison in November to serve a 21-month sentence for sexting with a 15-year-old girl. After initially denying that he took the photo, Weiner was forced to resign from Congress .
    California Republican Rep. Darrell Issa won't run for re-election

    California Republican Rep. Darrell Issa won't run for re-election

    Republicans, meanwhile, say they will benefit from the fight between the Democrats seeking to claim the seat. Issa became the second California Republican to retire this week.

    Stearns Financial Services Group Decreased Johnson & Johnson (JNJ) Stake By $585130; TRAILBLAZER

    Point72 Asia Hong Kong Ltd increased Spdr S&P 500 Etf Tr (SPY) stake by 10,100 shares to 23,731 valued at $5.96 million in 2017Q3. It is flat, as 45 investors sold JNJ shares while 871 reduced holdings. only 111 funds opened positions while 645 raised stakes.
  • Barack Obama Talks Dancing Onstage with Prince & Daughter Sasha

    Barack Obama Talks Dancing Onstage with Prince & Daughter Sasha

    Upcoming guests include George Clooney , activist Malala Yousafzai, Jay-Z, Tina Fey and Howard Stern . For the full interview, watch "My Next Guest" on Netflix Friday.
    American Red Cross Blood Drive January 15

    American Red Cross Blood Drive January 15

    Type O negative: The blood type that can be transfused to nearly everyone and is what doctors reach for in trauma situations. One Longmeadow resident who gave blood on Wednesday told 22News about the importance of donating this time of year.
    Total War: Three Kingdoms announced for Autumn 2018

    Total War: Three Kingdoms announced for Autumn 2018

    The press release mentioned the launch of the game's Steam page , but it isn't available at the moment of this writing. Total War: "Three Kingdoms is the next major historical strategy game in the award-winning Total War series".
  • Trump Attacks

    Trump Attacks "Sneaky" Feinstein Over Testimony Release

    Feinstein said at the time, "I wasn't consulted about this referral, nor were any of my Democratic colleagues". If anything, Trump's name calling only helps Feinstein in her 2018 primary race.
    Astros trade for Pirates starting pitcher Gerrit Cole, reports says

    Astros trade for Pirates starting pitcher Gerrit Cole, reports says

    The news that Cole had been traded to the Houston Astros came from MLB Network and Fox Sports reporter Jon Morosi. Cole, who is under team control for the 2018 and 2019 seasons, is in his second year of arbitration eligibility.
    Vermont Is Poised To Legalize Marijuana Possession

    Vermont Is Poised To Legalize Marijuana Possession

    In Michigan, signatures have been submitted for a November 2018 ballot to regulate marijuana similar to alcohol for adults. The Vermont legislature has set a historic precedent by approving a bill to legalize cannabis.


Most liked

Confidence in Twenty-First Century Fox (NASDAQ:FOXA) Shares by Pivotal Research Fall
It increased, as 12 investors sold FOX shares while 137 reduced holdings. 89 funds opened positions while 264 raised stakes. The investor is now holding $29.16 million shares due in part to a decrease of 1.39 million new shares in their portfolio.

Patrick Kane Named to NHL All-Star Game Roster
Louis in the previous three All-Star competitions and was the only Blues player a year ago and in the 2015-16 season. Also being rewarded for his standout season, Schenn lands his first All-Star appearance in his first season in St.

Megachurch pastor gets standing ovation after admitting 'sexual incident' with teenager
He was treated to a 20-second standing ovation while Woodson, watching online , was left in tears, per the New York Times . Evangelical circles started spinning with reports of a then-college student forcing a sexual encounter with a student.

Seahawks fire Darrell Bevell following lackluster December
One potential candidate to replace Bevell is Atlanta Falcons offensive coordinator Steve Sarkisian . He called the plays in Seattle's 43-8 win over Denver in the Super Bowl following the 2015 season.

If Sturridge wants Inter move should Newcastle and West Ham look elsewhere?
Having only played 431 league minutes this season, he is far removed from the man who scored 21 Premier League goals in 2013/2014.

Mobile's aggressive new smartphone promo includes high-profile iPhone X
The Un-carrier network is launching a new BOGO sale that includes discounts on some of the hottest smartphones in the market. A total of 13 smartphones are included in this offer, including the Pixel 2, Galaxy S8, and more.

A New, 3rd-Party Game Boy is Being Made
Would you buy something like this, or are you going to hold out and wait for Nintendo to announce the Game Boy Classic instead? The Ultra Game Boy, shown to Gizmodo this week in Las Vegas, improves on Nintendo's original Game Boy in several categories.

Armed robbers raid Ritz hotel in Paris stealing jewellery worth 'millions'
The Luftwaffe set up their headquarters at the Ritz, with chief Hermann Goring, during the Second World War. The hotel was bought in 1979 by Mohamed Al-Fayed, whose son Dodi was also killed in the fatal crash.

Overwatch League: Twitch snaps up broadcast rights
Nevertheless, all the match-ups happening in North America, South Korea, and France will be broadcast throughout Twitch . The Overwatch community also will have new ways to join in the fun around the league .

Ohio Department of Health reports state's first pediatric flu death of season
If you have symptoms of influenza, contact your health care provider promptly to find out if antiviral treatment is needed. Wischmeier says it's still worthwhile getting a flu shot, even though the season has been underway in full force.

Steph Curry Out vs. Clippers With Sprained Ankle
Injury update for tonight's game: Stephen Curry (sprained right ankle) & Klay Thompson (rest) are out. Thompson was Golden State's only player this season to appear in all 41 games.

Huawei Mate 10 Pro arrives in the U.S. in February
The Mate 10 Pro Porsche Design will be so available for buying in the country alongside the Mate 10 Pro starting from next month. Finally , the Mate 10 Pro features an unbelievable 4,000mAh battery equipped with Huawei's SuperCharge quick charge technology.

O'Fallon Teen Charged with Possession of Child Pornography
Spensberger's father, Paul, took his son's phone away on December 30 while punishing him for other bad behavior, FOX 2 in St. Andrew is due to appear in court for a hearing January 10. "Proud of that parent for reporting his son", wrote one reader.

'Everything went bad' - Serena Williams on complications after giving birth
Williams then had a number of post-childbirth procedures after discovering several small blood clots had settled in her lungs. No one talks about the low moments - the pressure you feel, the incredible letdown every time you hear the baby cry.

CPJ announces Press Oppressors awards after Trump's fake news awards
This week, Egyptian President Abdel Fattah el-Sisi was named runner-up for CPJ's " most outrageous use of terror laws against the press " award.