News Oil 

Oil ends at a nearly 3-week high as Middle East tensions threaten supplies

“Oil prices settle at a nearly three-week high on Monday, as increased tensions in the Middle East raised concerns over global crude supplies” writes Saefong Sara Sjolin for marketwatch.com. On Monday, the risks in the Middle East intensified after Iraqi forces reportedly entered Kirkuk, which is a major oil-producing area and has been held by Kurdish fighters.We otherwise see the oil market as still amply supplied, which would rather justify a Brent price of $50 per barrel,” said analysts at Commerzbank. Source: marketwatch.com Share This:

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Qualcomm offers EU concessions over $38 billion NXP takeover bid

“BRUSSELS (Reuters) – U.S. smartphone chipmaker Qualcomm has offered concessions in an attempt to allay EU antitrust concerns over its $38-billion bid for NXP Semiconductors, the largest ever in the semiconductor industry” reports businessinsider.com. Qualcomm, which supplies chips to Android smartphone makers and Apple, submitted its proposal on Oct. 5, a filing on the European Commission site showed on Monday, without providing details.The EU competition enforcer, which suspended the deadline for its decision on Aug. 17 for a second time while waiting for information data from Qualcomm, said it would…

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Tropical Storm Nate threatens U.S. oil, gasoline supplies

“Tropical Storm Nate, which is expected to reach hurricane strength by the time it makes landfall along the Gulf Coast, could disrupt U.S. oil and fuel supplies” writes Matthew Rocco for foxbusiness.com. Hurricane Harvey forced refineries across the Texas coastline to temporarily shut down, throwing a wrench into gasoline and diesel supplies.The last major storm to hit the Gulf Coast had a far-reaching impact on oil producers, refiners and pipeline operators.Although it’s a weaker storm, Nate is currently tracking toward offshore platforms, refineries and a critical Louisiana port. Source: foxbusiness.com Share…

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UN regrets tax on aid to Greek Cypriots in breakaway north

“UNFICYP said that Wednesday’s aid delivery to Greek Cypriots in the remote Karpas Peninsula on the island’s northeastern tip was limited to medical supplies because of the Turkish Cypriot decision, which it called an “unfortunate development.”” reports foxbusiness.com. Nicos Anastasiades, the island’s Greek Cypriot president, decried the decision as “completely illegal” and against existing agreements. Source: foxbusiness.com Share This:

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Puerto Rico, short on fuel, cannot deliver food and medicine to the victims of Hurricane Maria

“There’s also a lack of fuel for trucks to deliver these supplies to the 3.4 million Americans across the island” writes Lori Ann Larocco for cnbc.com. Powering generators — including for a large amount of refrigerated containers, which contain perishable food and medicine — requires 2,500 gallons of diesel per day. Source: cnbc.com Share This:

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Democrats to Trump: Send an aircraft carrier to help Puerto Rico with Hurricane Maria

“To fulfill DOD’s mission, we believe the aircraft carrier, USS Abraham Lincoln, should be sent to the region, similar to its deployment to Miami following Hurricane Irma,” the lawmakers wrote in a letter to Trump” writes Travis J for businessinsider.com. “We were recently informed of armed gangs ransacking a warehouse that distributes food and supplies,” they wrote in the letter.A carrier’s additional military aircraft and engineers are needed to help clear roads, rescue stranded residents and deliver emergency supplies to isolated parts of the island after it was slammed by…

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Trump defends handling of Puerto Rico’s hurricane recovery

“President Donald Trump on Tuesday defended his administration’s handling of disaster recovery efforts in Puerto Rico, a week after the island was devastated by Hurricane Maria” writes Christina Wilkie for cnbc.com. “A territory of 3.5 million American citizens is almost completely without power, water, food, and telephone service, and we have a handful of helicopters involved in DOD’s response.Earlier in the day, the president announced that he will visit Puerto Rico and the U.S. Virgin Islands on Oct.3, two weeks after the Category 5 storm left nearly all of Puerto…

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