Zig’s Place Chatroom News Tuesday AM 7-13-21

 Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly   International Energy Agency: Stalled talks in OPEC + may lead to a price war حرب

Tuesday 13 July 2021 11:51......The International Energy Agency said today, Tuesday, that the stalled talks between major oil producers on pumping more supplies may deteriorate into a price war.

The agency added, according to the Iraqi Political Economic Center, that the possibility of a battle over the market share threatens the markets, even if it is a remote possibility, noting that the possibility of rising fuel prices threatens to fuel inflation and damage a fragile economic recovery.

butterfly  2021-07-13 01:08  Shafaq News/ Oil prices climbed on Tuesday, reversing some of the previous day's losses, as tight supply and expectations of a further draw in U.S. crude inventories provided support, although fears over the spreading COVID-19 variant capped gains.

Brent crude for September rose 19 cents, or 0.3%, to $75.35 a barrel by 0421 GMT, after losing 0.5% on Monday. U.S. West Texas Intermediate crude for August was at $74.34 a barrel, up 24 cents, or 0.3%, having fallen 0.6% the previous day.

"Optimism about tight supply and declining U.S. crude stockpiles lent support," said Toshitaka Tazawa, an analyst at commodities broker Fujitomi Co.

"Still, growing concerns over a spike in COVID-19 infection cases worldwide and uncertainty over production plans by OPEC+ will likely limit gains," he added.

U.S. crude inventories were expected to fall for an eighth consecutive week, while gasoline stocks also declined, a preliminary Reuters poll showed on Monday.

Crude stockpiles have declined steadily for several weeks, with U.S. inventories falling to the lowest since February 2020 in the week to July 2.

China's crude imports in June edged up slightly from May, though they were down sharply from a year earlier when refiners snapped up cheap oil to supply a market recovering from the coronavirus.

Investors shrugged off the Energy Information Administration's (EIA) monthly drilling productivity report which said crude output from seven major shale formations is expected to rise by 42,000 bpd in August, to 7.907 million bpd, compared with a 28,000 bpd rise in July.

Asian shares climbed in early trade on Tuesday after Wall Street hit record highs overnight, as investors awaited the second-quarter earnings season and a batch of economic data.

butterfly  Still, reports from around the globe of surging infections kept some investors cautious.

The World Health Organization warned the Delta variant was becoming dominant and many countries had yet to receive enough doses of vaccine to secure their health workers.

Meanwhile, OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said.

Russian President Vladimir Putin and his U.S. counterpart Joe Biden did not discuss OPEC+ or global oil prices during an hour-long phone call on Friday, the Kremlin said on Monday.   Source: Reuters

butterfly   2021-07-13 06:20  Shafaq News/ Security forces thwarted an attempt to blow up a power transmission tower in the Iraqi capital, Baghdad.

In a statement issued today, Tuesday, the Commander of the Baghdad Operations, lt. Gen. Ahmed Salim, said that a security force of Baghdad Operations Command, in coordination with the Intelligence and Counter-Terrorism services, seized eight explosive devices set to detonate a power transmission tower in Northeast Baghdad.  

The Explosive Ordnance Disposal squads managed to defuse the bombs without complications, the statement said.   Earlier today, the Security Media Cell reported foiling an attack on a main power line between Baghdad and Diyala.

Last month, a widespread power outage hit Iraq as temperatures reached scorching levels, affecting millions of Iraqis, including those in affluent areas in the capital of Baghdad, and stirring concerns of widespread unrest.

Iraq's grid was generating just over 4,000 megawatts, according to Ministry of Electricity data on Friday morning — significantly less than the 12,000-17,000 megawatts the grid generates on average. By midday, production had climbed to 8,000 MW.

The cuts have impacted Baghdad and the southern governorates in particular.

In the oil-rich southern city of Basra, which in the past has seen violent protests over chronic electricity cuts and poor public services, a group of protesters burned tires to block roads during a demonstration demanding the return of electricity.

The Electricity Ministry said power transmission lines have been routinely sabotaged by unknown groups in northern Iraq in recent weeks. One 400 kilovolt line from Kirkuk to Qayara was targeted Thursday, the ministry said in a statement.

butterfly   Another 132 kV line was hit in Salahhadin on the same day.

Local TV channels initially reported that the outage on Friday was due to the cutting of a major 400 kV line between Baghdad and the southern Governorate of Babel. The ministry has not confirmed the incident.

Total shutdowns can also occur when Iraq's electricity network is working at maximum capacity. Defects in the transmission network and distribution capacity also contribute to outages. High temperatures can also impact the distribution lines.

Iraqi Prime Minister Mustafa al-Kadhimi formed a crisis cell to take immediate measures to address shortages, according to a statement from his office.

Temperatures in Baghdad and other governorates have been soaring above 48 degrees Celcius in recent days. The government declared an official holiday in Baghdad on Thursday due to the scorching heatwave.

Sheila  we all shall see what the day holds for me and thee... hoping & praying

butterfly  sheila what are you hoping for?

Sheila  butterfly RV and Freedom to Spend Smart, Spend Slow... LOL

Dave   sheila No Fun in that.......

sheila   Dave Spend Smart + Spend Slow = Deep Impact

butterfly   sheila Sorry had to step away. Well I've been wanting that over a decade now. Lots of people to help and can't wait (hope I'm still alive) until I can extend my hand/s to those in need.

Sheila   butterfly ditto, amen

Dave   ive been far to frugal for too long......

butterfly   Every year I crochet lots and lots of 100% cotton wash cloths and give out. This year I decided to do it early......Christmas in July.....instead of my usual giving them out in December.

Sheila   Dave Nothing I stated about Spend Smart, Spend Slow is about being frugal... I will take Quality over Luxury and Function over Fancy any day. Regardless, good Quality and proper Functionality costs money. lol

Dave   Spoiled my kids...time to spoil me....

butterfly   If you sew at all, here is a suggestion, which makes everyone you give them.....A very BIG thank you. I go to the thrift shops/garage sales/cheap shops and buy a lot of mens shirts. I cut the sleeves off, make a hanger out of shirt, sew up and bam you have a plastic bag holder. I had to laugh when I handed them with the expression on their faces. Little gifts with little smiles.....makes my day.

Sheila   @Dave For example, I want one of those Step In Tubs over one of those European Soaking Tubs. Really good Step in Tubs costs upwards 5K to 10K. Then there is the Installation and the water it takes to fill them. See what I mean?

Sheila  butterfly Wonderful Idea - Would love to see a pic of one of those bag shirts.

Sheila   @butterfly Can that craft be found on Youtube?

Dave   sheila 0-60mph in 3 secs works for me

butterfly  I have made a ton of jean rugs and my grandsons have claimed all of them. sheila for some reason I can't upload any of the pictures from my phone. I tried and it would only allow me upload all of them......ain't gonna happen because I don't want all of that on my old worn out laptop.

Dave   Gosh...Women......no fun in being pragmatic/sensible

Sheila   Dave so true... You feel the need for speed. lol lol

Sheila   butterfly no worries. will find it somewhere on the www

butterfly   Dave how do you think mothers raised their children back in the days. Now that is a different story....spoil spoil spoil.

Sheila   Dave Did not say so those words. Spend Smart, Spend Slow, Deep Impact.

Dave  My wife keeps reeling me in.....

Sheila  Nick's Update, July 13, 2021 - Truthful facts about our documents -- https://nicksintel.wordpress.com/2021/07/13/07-13-2021-truthful-facts-about-out-documents/

Dave   I would be in dodo if she knew about my Dinar

Sheila   Dave good man. will be wonderful surprise for her when this goes.

Dave  sheila been waiting to surprise her fer over adecade

Sheila   Dave Hold on, It's coming...

Sheila   DISCERNMENT ADVISED: Something to check out when you are so inclined: https://www.seedsofwisdomteam.com/video-channel  -- More specifically the TxSnake/Rolls Royce/video -- https://drive.google.com/drive/folders/1K8LhjMN4LqKa5cC75XcBNC2RKAOjp093

Sheila   NOTE: I AM NOT FINANCIAL OR LEGAL ADVISER. Links are provided for information only. You are the only one entirely responsible for your Financial and Legal Matters.

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