Futures lost as much as 0.9 percent in New York after falling 1.6 percent the previous two sessions. U.S. crude inventories rose by 1.82 million barrels last week, the American Petroleum Institute was said to report, even as it noted a large decline at the storage hub in Cushing, Oklahoma. While all OPEC members support extending output curbs until the end of 2018, Russia hasn’t yet committed to the proposal, said people familiar with the matter. Oil has eased this week from the highest level in more than two years on uncertainty about the outcome of Thursday’s meeting of the Organization of Petroleum Exporting Countries. While the global glut relative to the five-year average has more than halved since January, the surplus still stands at 140 million barrels, OPEC Secretary-General Mohammad Barkindo said Monday. Click Read More below for additional information.
National Average Price for Regular – Current: $2.934; Month Ago: $2.813; Year Ago: $2.358.
National Average Price for Diesel – Current: $3.203; Month Ago: $3.080; Year Ago: $2.504.
Digital asset management, or DAM, is the often-overlooked, not-so-glamorous, lynch-pin of content marketing. A business which fails to manage its content assets effectively — from blogs, white papers, and eBooks to images, video, and email content — ends up reinventing a very expensive wheel, week in and week out, and probably across multiple locations. We've noted previously the immense DAM challenge facing global brands (like Microsoft). Could a digital agency face DAM headaches on a comparable scale. Absolutely yes, if it's an agency the size of TBWA Worldwide, itself part of the massive Omnicom Agency Group.
Exxon shipped U.S. crude into a refinery it owns in Sicily, according to a person familiar with the matter and three traders and ship brokers. The Maran Sagitta oil tanker sailed in early February from Beaumont, Texas, where Exxon operates a refinery. It recently arrived in the Italian port of Augusta. Until now, trading houses including Vitol Group BV and Trafigura Pte and European-based oil companies have shipped U.S. crude overseas. Exxon is the first American firm that joins the race, which comes as domestic U.S. crude inventories surge to the highest level in nearly 90 years. “While we do not comment on the details of proprietary commercial agreements, crude exports from the U.S. are now another commercial option that we may elect to exercise from time to time,” Exxon said in an e-mailed statement.