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WASHINGTON (Reuters) – The U.S white gold diamond cufflinks. Energy Department said on Thursday it is offering up to six million barrels of sweet crude oil from the national emergency reserve in a sale mandated by a previous law to raise funds to modernize the facility. A law U.S. President Donald Trump signed last year requires the department to hold sales to fund $300 million improvements including work on shipping terminals to the Strategic Petroleum Reserve, or SPR, which is held in caverns on the coast of Texas and Louisiana. Previous laws have also mandated sales from the reserve, which currently holds more than 649 million barrels..
While global oil prices have been rising as the production group OPEC and Russia work together to cut supplies, the sale did not appear to be an explicit signal that the United States is looking to balance the current market with the SPR. U.S white gold diamond cufflinks. Energy Secretary Rick Perry, who has said price impacts from tapping the reserve for supply balance are often temporary, did not mention the sale in a press conference earlier on Thursday. Still, the oil supply could tighten in coming months with the Trump administration’s imposition of sanctions on crude exports from both Iran and Venezuela’s state-owned oil company, and with the producer supply cuts from OPEC and Russia..
The timing of the mandated sale may “serve as a warning to OPEC producers that a larger deployment of the SPR in the future could undermine,” efforts to boost the oil price, at least temporarily, analysts at ClearView Energy Partners said in a note. The delivery period for the sale will be from May 1 to May 14 for oil from the reserve’s West Hackberry and Big Hill site, and from May 1 to May 31 from the Bryan Mound site white gold diamond cufflinks. Offers for the oil must be received by March 13, the department said..
JOHANNESBURG/MAPUTO (Reuters) – Mozambique has filed a case in London’s High Court against Credit Suisse, according to court records and a source in Mozambique’s Attorney General Office. The global investment bank, three of its former employees, Andrew Pearse, Surjan Singh and Detelina Subeva, and an Abu Dhabi-based holding firm and its affiliates are all named in the filing. The court records said the case related to “commercial contracts” but gave no further detail. The global investment bank declined to comment white gold diamond cufflinks. Reuters could not immediately reach lawyers for Pearse and Subeva by phone, and they did not immediately respond to emailed requests for comment. The firm representing Singh also could not immediately be reached for comment..
A spokesman for Privinvest – the Abu Dhabi-based holding company named in the court papers – said the firm and its associates had not yet received notification of any filing, and therefore could not comment. A source in Mozambique’s Attorney General Office confirmed the existence of the High Court lawsuit. “We confirm that an action against Credit Suisse is underway in London. We will provide further details later,” the source told Reuters by phone. Credit Suisse was one of the lenders that helped arrange $2 billion in government-guaranteed loans that tipped Mozambique into a debt crisis that it is still struggling to recover from white gold diamond cufflinks.