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NEW YORK, Feb 20 (Reuters) - U.S. crude hit a near two-week high in a choppy session on Tuesday amid inventory declines at a key storage hub and on expectations that top producers could extend cooperation beyond 2018, while Brent fell under pressure from a stronger dollar.
April contract West Texas Intermediate (WTI) crude futures added 0.4 percent to $61.81 per barrel, driven by Friday's gains, as trading in the USA temporarily halted on Monday for President's Day. These rallies should be selling opportunities, and I believe that eventually we will see crude oil markets succumb to the massive oversupply.
Brent crude futures were at $65.48 per barrel, down 19 cents, or 0.3 percent, from their last close.
For the past year, the Organization of the Petroleum Exporting Countries and Russian Federation - once fierce oil-market rivals - have led a coalition of 24 producers in output cuts aimed at clearing the supply glut unleashed by US shale-oil drilling.
Outside North America, Brent crude eased on the back of a dip in Asian stocks and a stronger dollar, which potentially curbs demand as it makes fuel more expensive for countries using other currencies domestically.
In any case the growing U.S. production threatens to undermine OPEC's efforts.
'Antonio Conte will remain at Chelsea next season'
As well as the USA and England, he's also eligible to represent the Republic of Ireland or Italy, so we'll see how that plays out. But Conte believes it would be unsafe for Chelsea to focus exclusively on stopping Messi, who has never scored against the Blues.
Asian shares on edge, trim gains as USA futures slip
Meanwhile, Asian share markets were trying to find their footing on Wednesday as a semblance of calm returned to Wall Street . The Nikkei 225 tumbled as much as 7.1 percent on Tuesday before regaining some lost ground to close 4.7 percent lower.
According to the calculations of the Energy Information Administration (EIA), weekly production of raw materials in the US rose to a historic high of 10.27 million barrels per day for the week by February 9.
"Oil got mild support from gains in Asian equity markets, but has been getting pressure from the rise in US rig count and a slight recovery in the dollar". This story should be enough to underpin prices.
The one-year inflation expectations remained at 2.7% for the third straight month, while five-year inflation expectations held at 2.5%. The VIX volatility index was up 21 percent in advance of the USA open.
The most active gold futures contract on the Comex market in NY touched a high of $1,358.60 an ounce in midday trade, up more than 2pc or almost $30 an ounce compared to Tuesday's settlement after inflation data in the United States came in higher than expectations.
Gold has gained $112 an ounce since mid-December and despite culling positions in recent weeks large-scale speculators on derivatives markets like hedge funds have almost doubled net long positions - bets that gold will be more expensive in future - since then.
Ripping apart the congress on various issues, he termed them a poor looser, who wanted another chance after being bowled out. Let there be no doubt about that", Sonia said in Congress Parliamentary Party meeting.
The United States' role as a broker in the Israeli-Palestinian peace process has come under fire following the decision. Haley said the administration "stands ready" to work with the Palestinian leadership.
However, there is the risk of thunder and spot flooding in places as rain becomes widespread in the afternoon. It will be very cold tonight as the snow moves in from the west, with frost and icy patches set to develop.
Sources say coordination will continue between the US military and Iraqi forces based on conditions not yet released. Despite that information, the US military cites the official number of USA troops in Iraq as approximately 5,262.
Google has been on a mission to bring all its payment tools under the Google Pay brand, and today that includes Android Pay . Meanwhile, Google Wallet has been renamed to Google Pay Send and will be integrated with the main app soon.
The firm had revenue of $202.30 million during the quarter, compared to the consensus estimate of $193.74 million. Resources Investment Advisors Inc. grew its holdings in shares of FireEye by 96.9% during the fourth quarter.
Winter weather advisory Tuesday in northern Oklahoma
Total ice accumulations of a tenth to a half of an inch are possible, with the highest amounts toward central Wisconsin. Our area can expect heavy rain Monday night through Wednesday , according to the National Weather Service.
Diamondbacks sign Jarrod Dyson to two-year deal
NY made a big splash by acquiring power-hitter Giancarlo Stanton , while the Red Sox basically just changed their coaching staff. ESPN's Buster Olney said Monday morning that he believes the two sides will come to an agreement soon.
Budget Deadline, North Korea's Military Parade
But none of them were spotted in satellite imagery of rehearsals ahead of the parade, according to respected USA website 38 North. A livestream of the parade was also not available this time , while foreign journalists were not invited as in previous years.
Gary Woodland's victory puts career back on track
Woodland works with world-famous Butch Harmon on his swing and worked with Pete Cowen on his short game at the Shark Shootout. After 4 top 10 finishes in 2017, Woodland just needed to put four great rounds together on the same weekend.
20 found HIV+ as quack treats them with same needle
According to Times Now , the fake doctor allegedly used a single needle on all patients in the guise of cheaper treatment. Medical Superintendent, Pramod Kumar said, "We had set up a health camp where these cases were found to be confirmed".
TalkSPORT FA Cup fourth-round coverage on February 7, 2018
Since losing to West Ham United in the League Cup fourth round, Tottenham are unbeaten in their last 11 games at Wembley (W9 D2). Newport almost delivered the shock of the fourth round with an improbable victory over Tottenham in the match at Rodney Parade.
Two dead, hundreds injured after U.S. trains collide
The two victims were later identified as Amtrak personnel. "CSX maintains all of the tracks and signal systems", the company said. The Amtrak Train 91 travelling between NY and Miami was carrying 139 passengers and eight crew members at the time of the crash .