Subscribe free to our newsletters via your
. Military Space News .




OIL AND GAS
Oil prices continue steady drift lower
by Daniel J. Graeber
New York (UPI) Jul 20, 2015


disclaimer: image is for illustration purposes only

Ongoing anticipation over the return of Iranian oil, and emerging stability in the U.S. oil sector, pushed crude oil prices slightly lower in Monday trading.

Brent crude oil prices fell nearly a full percentage point to $56.59 per barrel early in the Monday trading day. West Texas Intermediate, the U.S. benchmark, did better, losing less than half a percent to $50.89 per barrel.

Crude oil prices are flirting with 2015 lows amid ongoing concerns about the health of the global economy in an era of surplus supplies. Greek debt issues re-emerged as a short-term threat to the Eurozone after a default to the International Monetary Fund.

Greek banks reopened Monday, but only to limited cash withdrawals.

On the supply side, oil services company Baker Hughes in its latest report showed a modest decline in the number of rigs deployed in North American basins. The slump in crude oil prices means less available capital for exploration and production, though rig numbers paint a mixed picture about the health of the sector.

North Dakota's rig count of 73 was unchanged from the previous week. State government data show oil production for May, the last full month for which data are available, was 1.2 million barrels per day, just shy of the all-time high of 1.22 million bpd posted in December.

The U.N. Security Council, meanwhile, voted unanimously in favor of last week's deal that restricts Iran's nuclear program in return for staged sanctions relief. Under the existing sanctions regime, Iranian crude oil exports are limited to around 1 million bpd, about half of its full potential.


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Canada set energy sector records last year
Calgary, Alberta (UPI) Jul 16, 2015
A federal Canadian report on the energy sector pointed to a strong 2014, though industry groups this year suggest rough waters are ahead in a weak oil market. The National Energy Board, the federal regulator, released a report on full-year 2014 production. Though crude oil prices fell roughly 50 percent from June 2014 to year's end, the NEB said the energy sector was resilient and expor ... read more


OIL AND GAS
US Awards Contract to Develop Missile Defense Command System

US Authorizes 'Forward-Based' Missile Defense System for Allies

USAF Early Warning Satellites Get No-Cost Update from Lockheed Martin

Boecore to support Army missile defense

OIL AND GAS
Successful flight tests for Lockheed Martin missile

Russia to launch space based missile warning system

The Hypersonic Missile Arm Race

MBDA France orders MMP missile warheads

OIL AND GAS
British military should focus on drones, spy tech: Cameron

Drone postal deliveries begin in Switzerland

Thales, IAI demo new NATO STANAG 7085 data link on UAV

US drone strikes target militants on Afghan-Pakistan border

OIL AND GAS
Lockheed Martin set to advance RF sensors development

Navy engineer invents new data transmission system

Fourth MUOS arrives in Florida for August launch

Airbus DS unveils new mobile welfare communication portfolio

OIL AND GAS
23 conscripts killed in Russian military barracks collapse

Lockheed Martin gains spot on Army IDIQ contract

New-Generation Electronic Warfare: More Russian Troops Equipped

Army includes special ammunition in hunt for new handgun

OIL AND GAS
India clears $4.74 billion defence purchase

US military to consider transgender troops

State Dept. gives nod to possible border security system sale to Egypt

Russia wants Iran arms embargo 'lifted as soon as possible'

OIL AND GAS
Japan's top security envoy to visit China

Chaos in Japan parliament as defence bill sparks uproar

Greece bailout deal important for 'security': NATO

Russia poses 'greatest threat' to US national security: Dunford

OIL AND GAS
Nanowires highly 'anelastic'

Ultra-thin, all-inorganic molecular nanowires successfully compounded

Superslippery islands (but then they get stuck)

New nanogenerator harvests power from rolling tires




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.