Gold Silver Reports (GSR) – Crude Oil Down as Trump, France’s Macron Talk Iran Deal — U.S. President Donald Trump and French President Emmanuel Macron pledged to seek stronger measures to contain Iran. At a joint news conference, Trump did not repeat threats to withdraw from the 2015 nuclear agreement but made clear he has little patience for it.
oil
Crude Oil Tops $75 on Supply Cuts, Prospect of Iran Sanctions
Gold Silver Reports (GSR) – Crude Oil Tops $75 on Supply Cuts, Prospect of Iran Sanctions — Brent crude, the global benchmark, rose to its highest level since OPEC on Nov. 27, 2014 turned its back on curbing output to support prices, a move that triggered a battle for market share and helped deepen a collapse to $27 in early 2016.
Trump Trade War Spurs India to Import More Oil, Drones From U.S.
Gold Silver Reports (GSR) – Trump Trade War Spurs India to Import More Oil, Drones From U.S. — Asia’s third-largest economy could bridge the surplus by up to $4 billion through oil imports alone, government officials said, asking not to be identified as they are not authorized to speak to the media.
Canada Oil Recovery Faces Threat From Potential Rail Strike
Gold Silver Reports (GSR) – Canada Oil Recovery Faces Threat From Potential Rail Strike — On Tuesday, the Teamsters Canada Rail Conference and the International Brotherhood of Electrical Workers each gave Canadian Pacific a 72-hour strike notice informing the company of their plans to strike at 12:01 a.m. eastern time on April 21.
OPEC Russia Talks Set to Keep Oil Cuts Even as Glut Vanishes
Gold Silver Reports (GSR) – OPEC Russia Talks Set to Keep Oil Cuts Even as Glut Vanishes – Almost 16 months of output curbs by the Organization of Petroleum Exporting Countries and its partners have seen crude rally to a three-year high near $70 a barrel. That’s replenishing their coffers after the worst oil slump in a generation, encouraging the producers to extend their intervention even as Venezuela’s petro-economy implodes and Donald Trump threatens Iran with sanctions.
Oil Retailers Extend Losses After Crude Hits Three-Year High
Gold Silver Reports (GSR) Crude Oil Retailers Extend Losses After Crude Hits Three-Year High – Shares of oil retailers were trading lower for second day in a row after crude oil prices in international markets rose to levels last seen in 2014.
OPEC Must Rethink Plans as $60 Oil Brings New Glut, IEA Says
Gold Silver Reports – OPEC Must Rethink Plans as $60 Oil Brings New Glut, IEA Says — OPEC and other petro-states need to “reconsider” their output plans due to a fresh wave of U.S. shale oil, the head of the International Energy Agency said.