$85 oil opens chasm between emerging market winners and losers

Oil prices: IEA, OPEC weigh in with forecasts

Brent prices fell more than $1.83 to $81 a barrel in mid-day trading while WTI prices fell $1.54 to $71.

Brent crude fell $1.55, or 1.9 percent, to $81.54 a barrel by 10:53 a.m. ET (1453 GMT), off the session low of $81.14, its weakest since September 26.

"This is due to a weaker economic outlook, trade concerns, higher oil prices and a revision to Chinese data", said the IEA, which advises major oil consumers on energy policy.

The IEA warned that recent peaks in supply and demand have put a strain on spare capacity.

Both global oil demand and supply are now close to new, historically significant peaks at 100 million barrels per day, and neither show signs of ceasing to grow any time soon, according oil oil market report issued by the IEA. USA crude added 79 cents to $71.76.

Messages might brick your PlayStation 4
Once the database rebuild is underway, it will scan the drive and create a new database of content installed on the system. Before we go any further: To set you PlayStation account to private, fire up your console and head to the Settings menu.

Drillers added eight oil rigs in the week to Oct 12, bringing the total count to 869, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

Also, traders were betting on a drop in global crude demand as U.S.

Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a fall or more than 4 percent for the week. The Organization of the Petroleum Exporting Countries (OPEC) made a similar move on Thursday.

Still, with impending US sanctions on Iran set to cut the OPEC producer's oil exports, traders continue to worry about whether the Organization of Petroleum Exporting Countries will be able to offset potential production losses.

Members of the Organization of the Petroleum Exporting Countries and other exporters such as Russian Federation and USA shale producers had increased oil production sharply since May, the IEA said, raising output by 1.4 million barrels per day (bpd).

Astronauts arrive in Moscow after emergency landing in Kazakhstan
About two minutes after launching, the three-stage Soyuz booster rocket suffered an unspecified failure of its second stage . Search and rescue teams from Russian Federation arrived as soon as the spacecraft touched ground to assist the astronauts.

Oil prices have been creeping upwards for more than a year, quietly gaining ground as emerging-market investors fretted about trade and the end of cheap money.

In fact, production has surged, led by the U.S. shale revolution, and supported by big increases in Brazil, Canada and elsewhere, according to the IEA.

Elsewhere, U.S. crude inventories rose by 6 million barrels last week, the Energy Information Administration said, more than double analysts' expectations of a 2.6 million-barrel increase.

Michael crashed ashore Florida on Wednesday as the third most powerful hurricane to strike the USA mainland, leaving seven people least.

The Funeral Home Closed in April. A Letter Led to a Search
Investigators found bodies not stored properly, including at least least two that reportedly appeared to be covered in mold. A cadaver dog from Michigan State Police checked the rest of the building and did not find any more remains, police said.

Related News:

  • USA  pastor Andrew Brunson released from Turkish detention

    USA pastor Andrew Brunson released from Turkish detention

    USA broadcaster NBC said on Thursday that Washington had done a secret deal with Ankara to secure Brunson's release. Brunson, 50, had rejected the espionage and terror-related charges and strongly maintained his innocence.
    ‘S Arabia allows consulate search over Khashoggi’

    ‘S Arabia allows consulate search over Khashoggi’

    Amid growing calls within the US and around the world for Saudi Arabia to investigate Khashoggi's disappearance, Republican Sen. He also said what happened to Khashoggi was a crime and those responsible for his disappearance must be tried, Al Jazeera said.

    Samsung unveils first smartphone with four rear cameras

    With four cameras on the rear glass case, Samsung is touting this device as the flawless offering for the Instagram generation. And that's not where the cameras end, since there is a 24MP front-facing camera with f/2.0 for all selfies and video calls.
  • Saudi crown prince ordered op against missing journalist

    Saudi crown prince ordered op against missing journalist

    The senator called that statement "not credible" and he said it's now up to the Saudi government to clarify the situation. Investigators are also zooming in on a vehicle seen entering and leaving the building after Khashoggi went inside.
    Talk to DUP over Brexit threat, Coveney is urged

    Talk to DUP over Brexit threat, Coveney is urged

    This story has not been edited by Firstpost staff and is generated by auto-feed. Asked about the threat, May said: "The DUP will do what the DUP will do".
    The 2 big app announcements at the 2018 #MadebyGoogle event

    The 2 big app announcements at the 2018 #MadebyGoogle event

    Both the Pixel 3 and Pixel 3 XL have dual front-firing speakers and a second forward-facing camera for capturing group selfies. Going forward, we're definitely going to see more Android phone makers offering different takes on gesture-based interfaces.
  • Arsenal's Aaron Ramsey could still stay at the club - Arsene Wenger

    Arsenal's Aaron Ramsey could still stay at the club - Arsene Wenger

    Juventus have made it a habit of signing players on bargains with Emre Can joining them on a free at the start of this season. Asked whether he would stay at the club for the remainder of the campaign, he added: "Of course, yeah".
    Buyer to keep shredded Banksy painting, Lifestyle News & Top Stories

    Buyer to keep shredded Banksy painting, Lifestyle News & Top Stories

    Last week's self-destruction was the latest in a long history of anti-establishment statements by the street artist. The framed, stencil spray painting shows a girl reaching towards a heart-shaped balloon.
    Senate Turns To Health Care, Dems Force Vote They Can Campaign On

    Senate Turns To Health Care, Dems Force Vote They Can Campaign On

    During the vote, Murkowski withdrew her "no" vote, changing it to "present" instead, effectively pairing it with Republican Sen. Cory Gardner of Colorado insisted it was actually the Democrats who had done themselves no favours with the vote.
  • WATCH Palestinian Protests Against Israel Rage at Gaza Border

    WATCH Palestinian Protests Against Israel Rage at Gaza Border

    The main border crossing to deliver fuel to Gaza had been closed by Israel for weeks on two separate occasions in July and August. Last month, Qatar agreed to pay for fuel deliveries to operate the sole power plant in the besieged strip.
    Trevor Noah weighs in on Kanye's visit to the White House

    Trevor Noah weighs in on Kanye's visit to the White House

    Now White House press secretary Sarah Sanders has confirmed the get-together, and shared details about the meeting agenda. " Trump is on his hero's journey right now", West said , tossing out an expletive to describe himself.
    Tell us: are you being affected by extreme weather in the UK?

    Tell us: are you being affected by extreme weather in the UK?

    Calmac cancelled many of its Western Isles ferries for the entire day and advised passengers to check before travelling. It comes on top of a yellow Met Office warning for high winds and heavy rain across most of the country.


Most liked

Cologne: Hostage Taken, Shots Fired at German Railway Station
A police spokesperson told NBC News that "one woman has been taken hostage" but could not confirm if shots had been fired. A man has suffered life-threatening injuries after holding a woman hostage in the German city of Cologne.

Elizabeth Warren DNA analysis points to Native American heritage
Please send the check to the National Indigenous Women's Resource Center: "http://www.niwrc.org/donate-niwrc", Warren tweeted. But as Warren mulls a presidential run in 2020, her Senate re-election campaign produced a video playing up the results.

Duchess of Sussex Meghan Markle is pregnant, Kensington Palace confirms
The huge trip will be packed with 76 engagements, with the Invictus Games Sydney 2018 taking centre stage. However Kensington Palace has refused to comment whether Meghan's father Thomas Markle has been told.

Lots of Uncertainty Surrounding Next Tesla Inc (TSLA) Chairman
Barclays reissued a "sell" rating and set a $210.00 price objective on shares of Tesla in a report on Monday, July 9th. Additionally, he's relinquishing his chairmanship of Tesla, where he'll sit out for three years, but remain CEO.

United Nations rights council criticised over election of new members
The UN General Assembly has elected India as top human rights body for a period of three years beginning January 1, 2019. It was "a vote is ridiculous without competition", said Louis Charbonneau, of the NGO Human Rights Watch (HRW).

Journalist's disappearance: S. Arabia rejects threats (Lead, Changing Dateline)
King Salman also ordered Saudi prosecutors to begin an investigation into what happened to Mr Khashoggi , according to Reuters . Saudi Arabia is leading a coalition of Gulf states in a military campaign against Iranian-backed Houthi rebels in Yemen.

Snowstorm kills nine climbers on Nepal peak, Asia News & Top Stories
They were led by Kim Chang-ho (49), a veteran climber who had reached all 148,000-m Himalayan peaks without supplemental oxygen. The highest peak in the range is the Dhaulagiri I, the seventh highest mountain in the world at 26,795 feet above sea level.

Tottenham’s Harry Kane has brilliant record against West Ham
However, Friday's UEFA Nations League clash between Croatia and England was a step too far for one fan of the visiting team. In the summer we had a system which allowed our players to embed into worldwide football but now they are more experienced.

MercyMe participates in historic signing of Music Modernization Act at White House
Also joining the president were Mike Love of the Beach Boys, singer Sam Moore , and the Christian group MercyMe. We build factories here in America to create jobs.

NPR Interviews Owen on Fed's Interest Rate Hike
When asked about the steep fall of the stock market, Trump said he was not anxious about it. Trump added, "The Fed is going loco ".

Thousands to march in Chicago against Trump's 'anti-woman agenda'
Simultaneous marches were to be held in nearby cities in Republican areas of IL - outside of the Democrat-stronghold of Chicago . Garland had been nominated to the Supreme Court by President Barack Obama, but Senate Republicans never acted on the nomination.

Jurgen Klopp warns Reds 'second is nothing' in Premier League title fight
He's been at Chelsea for a long time now, he's achieved so much but I can't speak for Eden, he knows in his mind what he wants. City stopped the Reds from passing and stopped the front three from getting any decent service.

‘More awareness needed on mental health’
Schools will also be given help to measure their students' health, including their mental wellbeing, under the plans. Yet average global spend on mental health is just 2.8 per cent of government health spending worldwide.

Usain Bolt scores first goals for Central Coast Mariners
Bolt said that after this game he would be sitting down with the club to discuss his future. I think my touch is that little bit better; my vision needs to improve a little bit more.

Jimmy Butler verbally challenged team at practice
He can exercise his right to become a free agent after this season and command a deal that might be worth up to $190 million. Butler reportedly scrimmaged against the current starting unit with deep reserve players, and Butler's group dominated.