Victor of $1.5b Mega Millions prize still hasn't claimed the money
Oil price drops amid fears over demand
Protesters take to Long Island City to rally against Amazon`s new headquarters
Dow Jones falls 600 points as tech stocks slip
Crude mood: Oil enters bear market, plunging most since 2015
USA looks for support on Iran crude embargo
03 July 2018, 03:41 | Joann Bryant
Iran to allow private sector to export oil, beat US sanctions
Iran is among the nations with the highest oil serves, along with Saudi Arabia, which is the world's leading exporter of oil.
As a gesture of goodwill, Trump tweeted on Saturday, as per his request, Saudi Arabia will increase its oil production to meet any global shortfall.
WTI oil prices dipped into 71.80 at the market's open this week, but has since recovered above 72.50, though current prices are still below Friday's closing price of 73.54.
Oil prices dropped on Monday as supplies from Saudi Arabia and Russian Federation increased and the market continued to absorb the impact of US President Donald Trump's weekend tweets - although analysts expect the decline to be short-lived.
The US government says a move to reimpose sanctions on Iran remains on track.
"We will surely do something to thwart the U.S. rallying cry that Iranian oil must be stemmed", First Vice President Eshagh Jahangiri said in statements broadcast on state television.
The fall came as the Russian Energy Ministry said on Monday that the country's oil output increased to 11.06 million barrels per day in June from 10.97 million barrels per day in May.
"And so, we are not looking to grant licenses or waivers broadly on the reimposition of sanctions, because we believe pressure is critical to achieve our national security objectives", he said.
One of the largest Iranian customers, Indian Oil Corporation (IOC), is ready for any scenario, and it has a wide basket of alternatives to ensure crude supplies, even if India stops importing Iran's oil completely, IOC's Chairman Sanjiv Singh told Bloomberg in an interview published on Monday.
The Organization of the Petroleum Exporting Countries agreed with Russian Federation and other oil-producing allies on June 23 to raise output from July, with Saudi Arabia pledging a "measurable" supply boost, but giving no specific numbers.
On May 8, President Donald Trump officially withdrew the USA from the UN-endorsed nuclear agreement and threatened Iran with worst sanctions.
With some concerns about the fallout of this, the USA is backing off State Department claims that no waivers would be given.
The Treasury Department said the sanctions on Iran would take effect in 90-day and 180-day periods - after August 6 and November 4.
The Trump administration is pushing countries to cut all imports of Iranian oil from November when the United States re-imposes sanctions against Tehran, after Trump withdrew from the 2015 nuclear deal agreed between Iran and six major powers, against the advice of allies in Europe and elsewhere.
Iran and Saudi Arabia broke off diplomatic relations in 2016 and are locked in several proxy wars in the Middle East, including in Yemen.
OKC Thunder could have record luxury tax bill
It's rare to get a star of George's caliber, either through the draft or through free agency, for a franchise like Oklahoma City. So, Sunday morning's decision to not only stay with the Thunder but also agree to a four-year max was a stunner for George.
Trump denies planning to pull out of WTO
USA stocks wobbled briefly in premarket trading after the Axios report , but regained their footing following Mnuchin's comments. After announcing tariffs on steel and aluminum imports in early March, the USA and China have been trading retaliatory punches.
Tiger sinks four-straight birdies Saturday
In eight events since, he's made just three cuts, but one of those came at the AT&T Byron Nelson, where he tied for third. The guy who has been fiddling with putters because he wasn't happy with the results finally saw his share of putts go in.
Julius Randle signs with the New Orleans Pelicans
The Pelicans allowed Cousins to play in a similar way, and Randle's skill set should make him a natural fit playing next to Davis. The Lakers are jostling their roster, also reportedly renouncing the rights to forward Julius Randle , making him a free agent.
Neymar to the fore as Brazil power past Mexico
With the "Fubo Premier" bundle, you will get access to all four of the World Cup soccer TV channels in most markets. The Brazil forward slid toward goal and tapped in after Willian sprinted down the left and fired in a low cross.
Wildfires Spark Evacuations In Northern California
The agency's Facebook page states, "SR 20 has been closed from the junction of SR 53 in Lake County to SR 16 in Colusa County". She reported the department has two brush units, 10 firefighters, one water tender and a battalion chief at work.