Saudi air defenses intercept two missiles over Riyadh

Jerusalem

Analysts' estimates of the possible reduction in Iranian crude supplies as a result of any new US sanctions range from as little as 200,000 bpd to as much as 1 million bpd, with most impact from 2019 as sanctions take time to impose.

The cartel and its allies agreed to slash output in late 2016, a response to oversupply and an oil price crash. The original 2015 agreement had lifted sanctions in exchange for Tehran limiting its nuclear programme.

Oil prices have surged as the output cut agreement by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russian Federation, has held.

That raised worries of a quick rise in oil prices.

Early voting for primary election begins
Eden Feldstein, of Sylvania Township, drove to his designated polling location on his lunch break to ensure he cast his ballot. Braun's win might mean more for how Republicans try to win in primaries the rest of this year than Blankenship's loss.


The Houthis have fired a series of missiles into the kingdom in recent months, part of a three-year-old conflict in Yemen widely seen as a proxy battle between Saudi Arabia and Iran. They've surged almost 13% over the past month and hit their highest level since 2014, while the price of USA gas has jumped to a national average of $2.81 a gallon.

The collapse in Venezuelan output has reduced production much more than intended and caused global oil inventories to draw down much faster than OPEC predicted at the end of past year.

But further significant price increases threaten to complicate OPEC's strategy by accelerating the upturn in shale drilling, as well as denting the growth in oil consumption.

Saudi Arabia and other United States allies queued up on Wednesday to praise Trump's decision, as did Yemen's internationally-recognised government, which has been forced into exile by Houthi advances.

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Sinclair needs to divest a number of stations as part of its pending acquisition of Tribune Media . In Q1, net income fell to $43.1 million (42 cents per share), from $57.2 million (61 cents).


It was the busiest day in USA front-month contracts since August, and for Brent the busiest in nearly a month. Iran denies arming them.

A number of countries have already cut their reliance on Iranian oil, as well as other "traditional" sources of supply, due to surge in cheaper USA crude exports. That world no longer exists.

"We have managed to put together this new alliance between OPEC and non-OPEC".

Mahathir claims victory in Malaysia vote
At the last election in 2013, BN lost the majority vote in its worst performance ever, but pulled in 133 seats. Most results are expected before midnight but the count may spill into the early hours of Thursday.


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