US Energy Secretary Confirms Saudi to Offset Market Losses from Iran

United Nations High Commissioner for Human Rights Michelle Bachelet

Brent crude futures rose 49 US cents, or 0.7 per cent, to settle at $US70.37 a barrel, while US West Texas Intermediate (WTI) crude ended 72 US cents, or 1.2 per cent, higher at $US62.12.

The EIA said in its regular weekly report that slumped by almost 4 million barrels in the week to May 3, versus forecasts for a build of 1.2 million barrels.

Oil prices saw declines at trading start on Thursday due to heightened trade tensions between the US and China, raising the possibility of a global economic slowdown and overall weaker oil demand.

The Energy Information Administration on Wednesday reported that USA crude inventories fell 4 million barrels last week, a far cry from a Reuters poll predicting a 1.2 million barrel build; as a result, Brent rose 49 cents to settle at $70.37 per barrel, while West Texas Intermediate settled up 72 cents at $62.12.

Police were 'prime target' in deadly blast near Lahore shrine
Police said they were investigating whether the blast was caused by an improvised explosive device (IED) or a suicide bomber. The shrine is located inside the ancient Walled City in Lahore , Pakistan's second-biggest city.

The country is the world's biggest oil importer. Refineries in the US are gearing up for an unusually intensive maintenance season this spring, to prepare their equipment for the upcoming IMO 2020 emission rules that will suspend the production of high-sulfur fuels in favour of low-sulfur ones.

Brent crude oil futures were at $71.28 per barrel at 0443 GMT, 4 cents above their last close, Reuters said. Rising crude oil inventories in the USA also helped: this week is the first with a draw after two consecutive weekly builds, both considerable.

Imports for the first four months increased 16.4 percent on the year to 31.89 million tonnes, customs said.

"Intensifying trade tensions are raising question on. oil demand prospects", ANZ bank said on Wednesday.

Guardiola says Lucho's Barça & Klopp's Liverpool best teams he's faced
But if we don't do it next Sunday and City are crowned champions, we can be proud of what we've done, everyone. Many believe tonight is the last real chance of City losing points - and it's a slim chance at that.

The United States will not grant any more waivers to any countries that would allow them to buy Iranian oil without facing USA sanctions, a senior U.S. diplomat said.

Most analysts expect Iran's crude exports to fall to little more than 500,000 bpd, down from around one million bpd in April, as governments largely bow to USA pressure.

"After 20 years of having their way with the U.S., China still appears to be miscalculating with this administration". -China trade negotiations fall apart.

OPEC's top producer Saudi Arabia has been reluctant to add more barrels to global supply because it fears a price crash, even as the organization is unsure of global supplies for the second half of the year, OPEC sources said.

Vietnamese woman accused in Kim Jong Nam's killing released from Malaysian prison
Defence lawyers have maintained the women were pawns in an assassination orchestrated by North Korean agents. He was taken to a small glass-fronted surgery one floor down, near the arrivals area, but it was too late.

Charting-wise, we have seen a deterioration through trendline support, with the price finding support on the 200-day simple moving average (SMA) indicator. Analysts had expected an increase of 1.2 million barrels.

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