More US sanctions on Iran likely, National Security Adviser John Bolton warns

Forty years of American hostility’ Iran releases video responding to new US sanctions

"Opec and Russian Federation may use cuts to support US$70 per barrel", said Ole Hansen, head of commodity strategy at Saxo Bank. A ministerial committee of some OPEC members and allies meets on Sunday in Abu Dhabi.

The United States has exempted India from specific sanctions related to the development of the Chabahar port in Iran and the construction of a railway line linking it with Afghanistan, PTI reported.

Front-month Brent crude oil futures were at US$72.27 a barrel at 0800 GMT, up 21 USA cents, or 0.3 per cent, from their last close. Over the past few months, OPEC has ratcheted up production amid calls from U.S. President Donald Trump to offset declines in Iranian shipments. The group led by Saudi Arabia will gather in Abu Dhabi this weekend as they face a fresh surge of United States shale oil threatening to unleash a new surplus in 2019. American oil inventories grew at more than twice the anticipated pace last week, a government report showed on Wednesday.

West Texas Intermediate for December delivery traded 30 cents lower at US$60.37 a barrel on the New York Mercantile Exchange at 10.42am in Singapore. WTI is down 21 percent since settling at $76.41 a barrel on October 3, meeting the common definition of a bear market.

Djokovic triumphs thriller over Federer in Paris Masters semifinals
Novak Djokovic and Roger Federer will face off each other for the 47th time in career on Saturday at the Rolex Paris Masters. It was the 4th successive win for Djokovic over Federer, and the Serb will play against Russia's Karen Khachanov.

Oil peaked in October on concerns that USA sanctions on Iran that came into force this week would deprive the oil market of substantial volumes of crude, draining inventories and bringing shortages in some regions.

Front-month Brent crude oil futures were at $70.69 a barrel, 4 cents above their last close. Brent is set for a 2.9% drop for the week, its fifth consecutive week of declines. It granted temporary exemptions to eight countries allowing them to continue importing Iranian oil, although it said the ultimate goal is to completely halt exports from Iran.

"U.S. production has exceeded EIA's previous expectations and, as a result, the short-term outlook now forecasts USA crude oil production to exceed 12 Mmbpd in 2019", EIA Administrator Linda Capuano said, in a statement.

Zanganeh claimed the Trump administration may have been able to "superficially" bring fuel prices down ahead of the US mid-term elections this week but that there's bound to be a hike in prices in the future.

Farrell could yet be punished for controversial tackle
He ran hard, it's hard to get your arms around when you're both hitting each other at that much force. And he's just a loosey (loose-forward) who plays for England '.

Inventories in Cushing, Oklahoma, the delivery point for USA crude futures, have risen for seven straight weeks amid refinery maintenance and increased pipeline connections into the hub.

Mr. Trump has repeatedly has asked oil producers to pump more crude to lower prices.

Meanwhile, U.S. crude inventories rose by 5.8 million barrels in the week ending November 2, to 431.79 million barrels, the EIA said.

Girl Scouts CEO says hearts 'broken' over crash
The community gathered Sunday night to remember four lives taken suddenly in a hit-and-run crash, reports CBS Minnesota. Daniel Sokup says the pickup crossed a lane Saturday morning and veered into a roadside ditch, striking the victims.

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