Oil prices slip after OPEC output rise
TOKYO (Reuters) - Oil prices slipped on Tuesday after a report showed that OPEC production reached a 2018 high in the month of July, although the losses were limited as concerns about supply lingered. September Brent crude futures fell 7 cents to $74.90 a barrel by 0109 GMT after rising 68 cents, or 0.9 percent, on Tuesday. U.S
TOKYO (Reuters) - Oil prices slipped on Tuesday after a report showed that OPEC production reached a 2018 high in the month of July, although the losses were limited as concerns about supply lingered.
September Brent crude futures
U.S. West Texas Intermediate crude futures (WTI)
A Reuters survey showed the Organization of the Petroleum Exporting Countries increased production in July.
OPEC hiked production by 70,000 barrels per day to 32.64 million bpd, a 2018 high. Further supply increases could offset production outages and pressure prices.
WTI rose on Tuesday on expectations that U.S. inventories fell last week and worries that an outage at a Syncrude facility in Canada will not be solved as soon as expected, traders said.
Crude inventories at the Oklahoma, delivery point for WTI have been dwindling, in part due to the Syncrude outage that has reduced the flow of oil into the hub.
Stocks at the Cushing storage hub fell to 23.7 million barrels, the lowest since November 2014 in the week to July 20.
Energy information company Genscape, however, said that inventories at Cushing rose almost 200,000 barrels, or nearly 1 percent, from Tuesday to Friday last week, according to traders.
Oil prices have rebounded from recent lows over the last two weeks, as looming sanctions on Iran have already started to curtail exports from that country. U.S. President Donald Trump said on Monday he would meet with Iran's President, Hassan Rouhani.
(Reporting by Aaron Sheldrick; editing by Richard Pullin)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
By Paul Carrel BERLIN (Reuters) - European Union sanctions against 40 officials in Belarus are "a small victory" but should be widened, opposition leader Sviatlana Tsikhanouskaya said on Monday, adding she would press Germany's Angela Merkel to do more at a meeting on Tuesday. Tsikhanouskaya fled her homeland for Lithuania amid a police crackdown in Belarus following an Aug. 9 presidential election, which official results said incumbent Alexander Lukashenko won, but which Tsikhanouskaya's supporters say was rigged
WASHINGTON (Reuters) - White House Press Secretary Kayleigh McEnany said on Monday she tested positive for COVID-19, while several U.S. media outlets reported that a number of other White House staff members also were confirmed to have been infected with the novel coronavirus
WASHINGTON (Reuters) - U.S.