Oil headed for a weekly gain as Iran called for the United States to comply with commitments it made under a 2015 nuclear deal that lifted punishing sanctions on OPEC's third-largest producer.
The concerns added to worries over a looming decision on whether the United States will walk away from a deal with Iran and instead re-imposes sanctions on Tehran, keeping global oil markets on edge. US PresidentDonald Trump is facing a May 12 deadline to decide whether to withdraw from the deal and reimpose sanctions, imperiling the deal as a whole and restricting the flow of Iranian oil.
Prices added as much as 0.3 percent to $69.91 a barrel after a 1.9 percent gain on Friday. US energy companies added oil rigs for a fifth straight week, with higher crude prices boosting profits and pushing nationwide production to record highs. New sanctions could disrupt crude exports from the Organization of Petroleum Exporting Countries' third-largest producer.
Oil prices were little changed after rising earlier, as market jitters kicked in over the prospect of geopolitical risks from possible new US sanctions against Iran. US production also hit a new weekly record of 10.62 million bpd - putting it ahead of Saudi Arabia, the biggest OPEC producer and just below top producer Russian Federation. "While there could be profit-taking given current oil prices, it will be limited as concerns over Iran are rising".
Friday marks the end of another unsteady week on crude markets, as fundamental signals battled with geopolitical jitters. Total volume traded was about 17% below the 100-day average. It was on track to gain just over 2.3 percent on the week. Brentcrude oil was up 10 cents at $73.72 a barrel by 1315 GMT.
Stay long a December 2018 WTI $68-75/bbl call spread (net premium: $1.40/bbl).
Iran intensified its criticism of Trump ahead of a May 12 deadline he's set for making a decision on the accord, stating that there's "only one way forward and it's USA compliance, not appeasement".
With the stock market falling, Rob Haworth, senior investment strategist for US Bank Wealth Management, said he would expect oil prices to be lower than they now are. Meanwhile, America's European allies continue to back it, saying the deal has been essential to reining in Iran's nuclear program. While he made no mention of the multiparty nuclear accord that eased sanctions on Iran starting in January 2016, he warned that the insertion of politics into the energy market will hurt producers and consumers alike.
The Persian Gulf country's regional arch-rival Saudi Arabia is said to want crude closer to $80 a barrel, in part to support a stake sale in its state energy giant.
With four overs remaining in the innings, Rahul had managed only 48 off 43 on a sticky wicket that ensured runs came at a premium. At the other end, Rahul played a couple of cheeky shots to commence his innings before going sedate due to two quick wickets.
The Magnetic Ride Control suspension has a new performance tune for better body control and responsiveness. The big V-8 puts out 460 pounds-feet of torque and the towing rating is expected to be 8,100 pounds.
He set a blistering pace and led the Derby until the final 150 yards when I'll Have Another overtook him to win by 1 ½ lengths. Jockey Mike Smith can use the colt's early speed to position him well for the long run to the chaotic first turn.
The first trip was in 1996, with Mexican star Fernando Valenzuela leading San Diego over the Mets to begin a three-game series. Walker Buehler is a rookie, a rookie for the Los Angeles Dodgers , a team known for cultivating the tremendous.
California had 24 cases reported , the highest number in any state, followed by Pennsylvania with 20 cases and Idaho with 11. The only similarity between all of the people who got sick is eating salad which contained romaine lettuce at a restaurant.
His putter saved him in the final round as he gained over four strokes on the field on a day when his long game was a wasteland. McIlroy enjoyed an improved display Saturday, however, the four-time major champion languishes seven shots behind Day.
Clapper went back to the house, got his mother and the dogs, swept up some of his clothes in one arm, and took off for a shelter. Some people who evacuated will be allowed to return to pick up pets, medicine and vital documents, officials said.
In the same category, Marathi Film, Morkhya; Oriya Film, HelloRC and Malayalam actor Parvathy, forTake Off were also awarded. This year, in a departure from the established practice, President Ram Nath Kovind did not give awards to each recipient.
"Now there is the hope because we are getting three points every game (five in a row) and our opponents are dropping points. The deposed champions are still fifth but within only three points of third-placed Liverpool who have played a game more.
When will WWE Backlash 2018 take place? Welcome to Ringside News' coverage of the 2018 Backlash PPV, which is a cross-brand event. Don't miss Charlotte's comments as she prepares to try and regain the SmackDown Women's Championship against Carmella.
Indiana Officer killed in shootout
He was shot and killed during an exchange of gunfire with a possible homicide suspect at the Garden Quarter Apartments. The wounded suspect was treated by medics who responded to the scene, but the suspect later died , Plasse said.
Yankees in position to sweep Indians
The team said Suzuki will have an active presence with the team and assist with outfield play, base running and hitting. Bradley Zimmer hit a three-run shot off Chasen Shreve , and Jose Ramirez launched a two-run drive off David Robertson .