Oil rises towards $80 as supply concerns mount

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LONDON: Oil rose towards $80 a barrel on Tuesday, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply.

Crude is trading at its highest level since late 2014, underpinned by a supply-cutting deal among the Organization of the Petroleum Exporting Countries plus Russia and other non-members, and strong global demand.

Brent crude LCOc1, the global benchmark, rose 44 cents to $79.66 a barrel by 1029 GMT. Last week, it topped $80 for the first time since November 2014.

U.S. crude CLc1 was up 27 cents at $72.51, having earlier traded at $72.72, its highest since November 2014.

“The solid global economy, selected supply disruptions and the upbeat market mood in particular in oil frame a positive environment,” said Norbert Ruecker, head of commodities and macro research at Julius Baer.

The U.S. government imposed new sanctions on Venezuela following Sunday’s re-election of President Nicolas Maduro, a move that analysts say could further curb the country’s oil output already at its lowest in decades.

“We can expect continued falling Venezuelan production,” said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo.

Concern about a potential drop in Iranian oil exports following Washington’s exit from a nuclear deal with Tehran and the threat of U.S. sanctions is also supporting prices. On Monday, the United States hardened its approach to Iran.

Venezuela and Iran are members of OPEC, which with its allies has curbed production since January 2017 to get rid of a supply glut that in mid-2014 led to a price collapse.

Due in part to the involuntary drop in Venezuela’s output, OPEC is over-delivering on the agreement. Saudi Arabia and other major OPEC producers could in theory add more supply, but have yet to do so.

The OPEC-led supply curbs have largely cleared an inventory surplus in industrialized countries based on the deal’s original goals, and stocks continue to decline.

U.S. crude stockpiles are forecast to have declined by 2.8 million barrels last week, a third straight weekly fall. The American Petroleum Institute’s inventory report for the period is due at 2030 GMT.

Limiting the upward pressure on prices is rising supply in the United States, where shale production is forecast to hit a record high in June.

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Written by Prabin Bikram Katwal This news first appeared on https://thehimalayantimes.com/business/oil-rises-towards-80-as-supply-concerns-mount/ under the title “Oil rises towards $80 as supply concerns mount”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Cricketer Lamichhane returns home

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Young cricketer Sandeep Lamichhane addressing the press-meet at Tribhuvan International Airport, Kathmandu, upon his arrival from New Delhi India, on Tuesday, 22 May, 2018. Photo: RSS

KATHMANDU: National Cricket team member Sandeep Lamichhane returned home to a rapturous welcome today. His national team captain Paras Khadka and team manager Raman Shiwakoti among others received him at the Tribhuvan International Airport. He returns home after a very successful debut in the Indian Premier League representing the Delhi Daredevils franchise.

Speaking at a press conference held at the TIA, the 17-year-old leg spinner said IPL was a great learning for him, and would be translating that into the Nepali cricket sector as well. “I have improved my bowling, while it was also an opportunity to make Nepal known in the IPL,” he said.

Lamichhane got an opportunity to play in the final three matches of the league, after his team, DD, failed to qualify for the last four. In the three matches, Lamichhane took 5 wickets helping his team win two of the matches. He also won a stylish player of the match award in one of the matches.

The DD franchise had bought Lamichhane for IRs 2 million, and he is also set to play in the Caribbean Premier League to be held in the Caribbean.

The post Cricketer Lamichhane returns home appeared first on The Himalayan Times.

Written by Prabin Bikram Katwal This news first appeared on https://thehimalayantimes.com/sports/cricketer-lamichhane-returns-home/ under the title “Cricketer Lamichhane returns home”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Real as hungry as ever, Zidane warns Liverpool

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MADRID: Real Madrid coach Zinedine Zidane has warned Liverpool that his side are as hungry as ever to win the Champions League, rejecting claims that the Spanish giants might have lost their edge ahead of Saturday’s final in Kiev.

There have been some suggestions that Real, having won the past two finals, might not be as motivated as Liverpool, with the English club not having tasted European glory since 2005.

“I can’t talk for the opponents, but we always have the same desire as we always do and nobody can say we don’t,” Zidane told a news conference.

“We’re in a third final and we have the chance to do something historic and win it three times in a row. You can’t say Liverpool have more hunger than us; it simply isn’t true.

“Nobody can take our hunger away from us. We’re Real Madrid … We always want more and will always give our all to get more.”

The Frenchman also said that his side’s experience of playing in and winning three finals in the past four years will have no bearing on the outcome. By comparison, no player in the Liverpool squad has reached this stage of the competition before.

“It’s a one-off game, in a neutral venue. We’re ready for it, but our experience doesn’t count,” Zidane said.

“Granted, we have more, but we need to show that we want to win it. Our experience doesn’t count for anything. It’s a final, they (Liverpool) haven’t played in a lot of them, but they’ll kill themselves for this and we know it.”

Inevitably, talk turned to star men Cristiano Ronaldo and Mohamed Salah, but Zidane was unequivocal when asked if he would swap the Portuguese for Liverpool’s Egyptian star.

“Cristiano is the best, he shows it every year,” the coach said. “Sometimes pressure gets to players and it spurs others on. He is certainly the latter. He’s of maximum importance to us.”

The post Real as hungry as ever, Zidane warns Liverpool appeared first on The Himalayan Times.

Written by Prabin Bikram Katwal This news first appeared on https://thehimalayantimes.com/sports/real-as-hungry-as-ever-zidane-warns-liverpool/ under the title “Real as hungry as ever, Zidane warns Liverpool”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Giro d’Italia 2018: stage 16 time trial – live!

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But Dumoulin’s on the charge coming up to the finish …

It doesn’t look as if Dumoulin’s going to rein in Dennis today … the home hope Pozzovivo ends his underwhelming afternoon crossing the line in 30th place

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Written by Tom Davies This news first appeared on https://www.theguardian.com/sport/live/2018/may/22/giro-ditalia-2018-stage-16-time-trial-live under the title “
Giro d’Italia 2018: stage 16 time trial – live!
“. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Restless fretting about cricket’s health could be its great strength | The Spin

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A morbid obsession with its own death has caused cricket to adapt and evolve – and is perhaps the reason why we’re still playing and watching it all these years later

Summer came late in 1906, and the spring, harried by a keen north-east wind, hardly stopped at all. May was cold and grey, frosty till the third Sunday. It was dismal weather for cricket. The season started on Wednesday the 2nd, but no one came to watch. Lord’s was empty. The Oval was empty. Old Trafford was empty. The press began to fret. On 27 May the Observer published a leader called The Necessity for Cricket Reform. It asked if the game had outlived its popularity. “Matches are being finished, but the crowds do not come,” the editorial read. “Cricket seems to have grown too old fashioned for these go-ahead times.”

The Observer wasn’t the only one worrying. The next year’s Wisden recalled “all sorts of gloomy forebodings”. Until “the sun came out and all was well”. By the far side of the summer, England was in the middle of a long, late heatwave. George Hirst did the double-double of 2,000 runs and 200 wickets, but Yorkshire were still pipped by Kent, who won 11 championship matches in a row, thanks in part to their brilliant young all-rounder Frank Woolley. It was one of the great seasons of the Golden Age, and when it was over, “no more was heard as to cricket being on the wane”.

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Written by Andy Bull This news first appeared on https://www.theguardian.com/sport/2018/may/22/the-spin-cricket-fretting-future-health under the title “Restless fretting about cricket’s health could be its great strength | The Spin”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Ryder Cup: Europe’s McDowell and Donald complete vice-captain line-up

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• Thomas Bjorn names duo alongside Harrington and Westwood
• Robert Karlsson the final member of five-strong backroom team

Thomas Bjorn insisted he has not called time on the Ryder Cup playing careers of Luke Donald and Graeme McDowell after naming the duo to finalise a roster of five vice captains for the meeting with the USA in France.

Confirmation that Lee Westwood and Padraig Harrington would form part of Bjorn’s European backroom team – Robert Karlsson had been named earlier – was widely expected but the appearance of McDowell and Donald at Wentworth on Tuesday had not been predicted.

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Written by Ewan Murray at Wentworth This news first appeared on https://www.theguardian.com/sport/2018/may/22/ryder-cup-2018-westwood-harrington-mcdowell-donald-europe-vice-captains under the title “Ryder Cup: Europe’s McDowell and Donald complete vice-captain line-up”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Unai Emery’s in-tray: what is waiting for Arsenal’s new manager? | Amy Lawrence

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The former PSG coach needs to instil defensive discipline, find a new shape for Arsenal’s midfield and get the most out of a wealth of young talent to impress at the Emirates

A quick highlights reel of Arsenal’s away performances from last season will tell Emery all he needs to know about how an injection of organisation and motivation are paramount. The concentration lapses, the losing of leads, the lack of robustness, need knocking on the head from day one. Whether it was complacency or anxiety or a weird mixture of both, it needs addressing. The players should be ready to welcome some new instruction, new guidance, new ideas to give them a fresh start. The fear of surrendering points has become mental as well as tactical and technical. Time to sweep bad habits away.

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Written by Amy Lawrence This news first appeared on https://www.theguardian.com/football/blog/2018/may/22/unai-emery-in-tray-arsenal-new-manager under the title “Unai Emery’s in-tray: what is waiting for Arsenal’s new manager? | Amy Lawrence”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

Gooch overcomes Sunderland freefall to earn USMNT return

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The 22-year-old midfielder is back in the mix with the U.S. national team despite his club enduring relegation for the second straight season

Written by This news first appeared on http://www.sportingnews.com/soccer/news/gooch-overcomes-sunderland-freefall-to-earn-usmnt-return/1soj174bgexyb1e0p1enuner7q under the title “Gooch overcomes Sunderland freefall to earn USMNT return”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.

No Champions League pressure as PSG’s Tuchel calls for patience

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The new manager of the Ligue 1 champions pleaded for patience as the 44-year-old tries to implement his philosophy at the club

Written by This news first appeared on http://www.sportingnews.com/soccer/news/no-champions-league-pressure-as-psgs-tuchel-calls-for-patience/1ouhks1pvgevz1qpmjnvlsti1m under the title “
No Champions League pressure as PSG’s Tuchel calls for patience
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Ipoh crowd feted by Premier League star

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PKNP FC’s training session on Monday night was graced by the presence of a former Manchester United winger and two-time English Premier League winner.

Written by This news first appeared on http://www.sportingnews.com/soccer/news/super-league-pknp-fc-manchester-united-andrei-kanchelskis/1bmfl4b033s7219ksh7srhgxn1 under the title “Ipoh crowd feted by Premier League star”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.