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Oil prices fall as US continues to add to supplies

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New York:  Oil prices fell as US production continued to add despite price collapse.

US oil companies added more oil rigs this week despite the plunge in crude prices, marking the third straight week of an uptick in the rig count, Xinhua reported on Friday.

Data showed a weekly rise of 6 in the number of active US oil drilling rigs, making it 670, according to oil services company Baker Hughes’ Friday report.

US crude production added 52,000 barrels to 9.465 million barrels a day that week, according to the weekly report of the Energy Information Administration (EIA) Wednesday. The rising production weighed on the market.

The global oversupply was currently running at 2 million barrels a day, compared with 1.8 million during the first six months of the year, according to a report released by Goldman Sachs Thursday.

The West Texas Intermediate for September delivery moved down 79 cents to settle at 43.87 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery decreased 91 cents to close at 48.61 dollars a barrel on the London ICE Future Exchange.

(IANS)

 

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US Offering Rewards Upto $10mn for Information on Lebanon Hezbollah Finances

The payments will be made by the State Department's Rewards for Justice program, which until now has focused on offering cash rewards for information that leads to the capture of wanted terrorists

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FILE - Hezbollah fighters parade in a southern suburb of Beirut, Lebanon, Nov. 12, 2010. VOA

The United States is offering a reward of up to $10 million for information that disrupts the finances of Lebanon’s Hezbollah militant organization.

The U.S. State Department announced the award Monday, saying it would be paid to those who give information about major Hezbollah donors and financiers as well as businesses that support the organization and banks that facilitate the group’s transactions.

The payments will be made by the State Department’s Rewards for Justice program, which until now has focused on offering cash rewards for information that leads to the capture of wanted terrorists.

lebanon hezbollah
The United States is offering a reward of up to $10 million for information that disrupts the finances of Lebanon’s Hezbollah militant organization. Pixabay

Hezbollah was designated as a foreign terrorist organization by the State Department in 1997.

ALSO READ: Sri Lanka Blames ‘National Thowfeek Jamaath’ Islamist Group for Series of Attacks

The Shi’ite group, backed by Iran, has recently been increasing its influence on Lebanon’s government. It has also been growing its regional clout, including sending fighters to Syria to support President Bashar al-Assad.

The State Department said its Rewards for Justice program has paid more than $150 million to more than 100 people for giving information that helped brings terrorists to justice or prevented acts of terrorism. The program began in 1984. (VOA)