Oil prices edged higher on Thursday after dipping in early Asian trade, as concerns about global supply tightness outweighed a build in US petrol and distillate inventories.
Crude inventories fell by 2.8-million barrels in the week to June 24, far exceeding analysts’ expectations in a Reuters poll for a 569,000-barrel drop, US Energy Information Administration data showed, even as US petrol and distillate stockpiles climbed. But further disruptions to supply supported prices, the ANZ analysts said, amid the suspension of Libyan shipments from two key eastern ports, while Ecuador saw output fall due to ongoing protests.
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US power companies could battle to keep the lights on amid summer supply crunchesConsumer power use is expected to hit record highs this season, which could strain grids when the weather could pose reliability issues We in Africa want human rights rapists like the US and the West out of Africa alongside every multinational & NGO affiliated to them. Africans can't breath in the US, EU don't want Africans, we definitely want them out before mishap befalls them in this continent. Load shedding will start spreading globally because of the inabilities of governments like ours to act fast and decisively to invest in new power. The fallacy that renewable will solve the problem will catch governments off guard. Solar doesn't work at night and peak hours.
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