In the wake of the hurricanes Harvey and Irma, oil demand is expected to drop by some 900,000 bpd this month, Goldman Sachs said on Monday.
Hurricane Irma, which has been moving inland over the southeastern parts of the USA, has affected at least nine states so far, among them Florida, Georgia, Alabama and SC, causing storm surges and flooding and cutting off power supplies. By Monday morning, it had weakened to a tropical storm, heading towards Georgia.
U.S. West Texas Intermediate (WTI) crude was 17 cents higher at $48.24 a barrel.
Brent, the global benchmark, rose 45 cents, or 0.84%, to $54.29 a barrel.
The 14-country producer group said its oil output in August fell by 79,000 barrels per day (bpd) from July to 32.76 million bpd, below a demand forecast.
Expectations for a hefty weekly rise in US crude-oil supplies limited the price rise for oil, however.
Official data from the Energy Information Administration will be released Wednesday.
In its monthly report, the Organization of the Petroleum Exporting Countries also raised its demand forecast for 2018, and said two hurricanes that hit the United States in recent weeks would have "negligible" impacts on demand.
While Irma, which made landfall in the Keys late Sunday as a Category 4 storm, will hurt oil demand, Harvey's damage is far greater, the bank's analysts including Damien Courvalin said in a note Monday.
"The market is assessing what is happening after the two hurricanes and there is concern that demand is down in Florida", said Miswin Mahesh, an oil market analyst at Energy Aspects.
North Korea is not at the center of the oil market - the country produces nearly no crude oil, has two barely functioning refineries and is believed to import a tiny volume of around 15,000 b/d of crude oil and some refined products from China.
Harvey struck the US oil hub of Texas two weeks ago, knocking out a quarter of the nation's refineries.
Last week, Goldman Sachs said that reconstruction in Hurricane Harvey's aftermath was expected to be ultimately positive for USA oil demand in a few months, as fuel consumption is expected to increase when people start rebuilding homes.
Ministers are discussing extending the pact by at least three months.
The world demand for oil in 2018, as expected by OPEC, will be 1.35 million barrels per day higher than in the current year, and amount to 98.12 million barrels.
Gal Gadot will also reprise her role in the sequel which is expected to be released in theaters on December 13, 2019 . Wonder Woman has eclipsed $800 million at the global box office, and Jenkins was paid $1 million for that job.
Hurricane Irma has already claimed at least four lives, as it batters Florida , having earlier killed 28 people in the Caribbean. Intrigued, Marcelo Clavijo and several friends went out for a drive to take in the unusual sight of an empty bay.
The right-hander went on to complete his 30th ODI century, equalling former Australian captain Ricky Ponting's tally. How low can this year go for the Sri Lankan team? "As a player and captain, I feel very bad about it".
Goodfriend, 66, worked for more than 20 years at the Richmond Fed and is seen as a leading hawkish voice on monetary policy. As Yellen's current term expires in February next year, Trump has also begun the search for the next Fed Chair.
Hurts answered those doubters in the second quarter when he hit receiver Calvin Ridley in stride for a 53-yard touchdown pass. The Seminoles, meanwhile, will host Louisiana-Monroe hoping that their young quarterback will be available.
The LPGA tournament victory snaps a three-year drought for Lewis, who hasn't claimed a LPGA tournament victory since 2014. I was able to go 4-under par at that point and that was really important and helped me get to 10-under par today".
If the offensive line can open up some holes and get decent protection for Fromm, then this should be Georgia's game to lose. App State junior running back Jalin Moore added 38 yards on 13 carries and made a career-high four catches for 34 yards.
China has opposed deployment of THAAD, saying its powerful radar can probe deep into its territory, undermining its security. Russian Federation shares the concerns voiced by China on the plans to deploy the THAAD system in South Korea, he noted.
Authorities said they found discovered blood spatter on Hupperterz's back door, kitchen sink, and on a trash can lid. The last time she was seen was on surveillance video leaving a bar near the school campus in north Philadelphia.
Like Apple's own design aesthetic, the upcoming laptop features a thin industrial bezel and an overall sleek form factor. The new Xiaomi Mi Notebook Pro comes with an Intel core i7 processor and the laptop comes with up to 16GB of RAM.
Defensively, Michigan football yields 17.0 points and 192.0 total yards per game, 181.0 in passing and 11.0 in rushing. Rudolph broke Brandon Weeden's mark of 9,260 yards it late in the second quarter, and finished the night with 9,352.
It made me realize this is a business and anyone other than LeBron James and Kevin Durant and those kinds of guys can be traded. Thomas will be the starting point guard for the Cavs next season, and he should benefit from playing alongside James .
Prime Minister Narendra Modi on Thursday arrived New Delhi after concluding his first bilateral visit to Myanmar. He added that it is important for both the nations to work together as they both share similar security concerns.
Getting away from this AI tech focus, the Kirin 970 delivers other enhancements compared to its predecessors and competitors. Chinese phone and chip designer Huawei unveiled its first artificial intelligence (AI) smartphone chipset , the Kirin 970 .
North Korea conducted a missile launch over Japan early Tuesday morning, further ratcheting up tensions in the region. Constant North Korean provocations do not seriously disturb Seoul-based foreigners like Matthew Crawford either.
In addition, New Jersey National Guard members are being deployed to Florida to help with the storm's impact. Soldiers said their focus is on humanitarian efforts, medical evacuations, triage and patient transfers.
Meanwhile, Karnataka Home Minister Ramalinga Reddy said, there were around three CCTV cameras, we will examine the footage. The Editors Guild of India "strongly condemned" the murder of Lankesh and called for a judicial probe into the incident.
But in NY , a loss would mean a much longer lens to view her next Slam opportunity, the Aussie Open, which is five months away. On Sunday, Muguruza jumped out to a 4-1 lead in the opening set and earned three break points for a chance to go up 5-1.
Unidentified security officials told Reuters that the attack took place near Arish, the capital of North Sinai province. Egypt has been suffering from a spike in terrorist attacks targeting civilians in the mainland over the past year.
Janet Jackson performs the opening night of her State Of The World tour at the Cajundome in Lafayette, LA on September 7, 2017. Meanwhile, she's going through a divorce from his father, Wissam Al Mana , after five years of marriage.
You know they happen theoretically, but the chances of seeing the most extraordinary weather phenomena are slim to none. The person who took the video is seen walking along the dry ocean floor which is covered in large shells.
With Williams serving and the set tied, 5-5, Stephens stepped up. "In the end, she ended up winning more points than I did". I know if it was the other way around she would do the same for me. "I just worked my tail off".
After surrendering 97 yards to Auburn (1-1) in the first half, Clemson's defense allowed only 20 yards in the final 30 minutes. Malzahn said after the game that his team needs to get better at the run game, but it looked almost impossible.
Nomar Mazara had a two-run homer in the nightcap for Texas, which won the first game 12-8 behind four hits from Elvis Andrus. Indians manager Terry Francona said he noticed nothing out of the ordinary when his team played the Red Sox .
There have been claims that there was indeed a collusion between Moscow and the heated up campaign of President Donald Trump. The company said it found another $50,000 spent on around 2,200 ads that might be politically motivated.
She was one of four US women in the quarterfinals at Flushing Meadows, the most since five made it that far 15 years ago. She had an operation in January, and while forced to stay away from her sport, she found a new appreciation for it.
After the discussion, and in light of Texas' need, Hutchinson made a decision to send the troops, the release said. The National Guard is dropping in more than supplies, but also hope to people who need it now more than ever.