Board Type: Semi-PrivateAdmins: Soda


Our fund raising round was not successful.  As a result, IDB will be going off line and into cold storage.  If our competitors should stumble, I may re-active the site in the future but for now, we're turning out the lights.

I had planned to go off-line on April 4th.  Due to some important and unplanned changes in our maintenance schedule, I am now bumping that up to next Tuesday morning, March 27th, 2018.  PM 'admin' if you need to reach me. 

You should use the next 5 days to find a new home for your community.

Running IDB has been fun over the years and I hope you enjoyed your time here as well.  Sincerely,  Paul

P.S. News on IDB Funding -- this is now on it's own page to clean up the site a bit.

UPDATED ~ 12 MINUTES AGO Oil up as U.S. crude inventories fall despite rising production Henning Gloystein

SINGAPORE (Reuters) - Oil prices edged up on Thursday as U.S. crude inventories fell despite a rise in production, while outside the United States an OPEC-led supply cut continued to tighten the market.

An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas, U.S., May 3, 2017. Picture taken May 3, 2017. REUTERS/Ernest Scheyder

Brent futures LCOc1, the international benchmark for oil prices, were at $60.64 per barrel at 0219 GMT, up 15 cents or 0.3 percent from their last close. Brent has risen more than 35 percent since its 2017-lows last June.

U.S. West Texas Intermediate (WTI) crude CLc1 was at $54.36 a barrel, up 6 cents from the last settlement, and some 30 percent above its 2017-low in June.


Traders said oil markets were being supported by falling U.S. commercial crude oil inventories despite rising output.

U.S. commercial crude oil inventories fell by 2.4 million barrels in the week to Oct. 27 to 454.9 million barrels, according to data from the Energy Information Administration (EIA) on Wednesday. C-STK-T-EIA


“U.S. crude inventories are back on a downward trend after disruptions from hurricane Harvey caused a small build,” said William O‘Loughlin, investment analyst at Rivkin Securities.

This came despite a 46,000 barrels per day (bpd) increase in production to 9.6 million bpd. U.S. crude output is now up over 13 percent since mid-2016. C-OUT-T-EIA

The EIA said that a record 2.1 million bpd of U.S. crude was exported in the latest week.

Traders said this was due to WTI’s wide discount to Brent which makes overseas sales profitable. CL-LCO1=R

Outside the United States, confident market sentiment has been fueled by an effort this year lead by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to hold back about 1.8 million barrels per day (bpd) in oil production to tighten markets.

“OPEC supports the rebalancing process by maintaining high compliance to its production cuts,” said Ole Hansen, Head of Commodity Strategy at Denmark’s Saxo Bank.

Trade data shows that global oil markets have been slightly undersupplied during the past quarters, resulting in fuel inventory drawdowns.


The pact to withhold supplies runs to March 2018, but there is growing consensus to extend the deal to cover all of next year.

Despite the generally bullish market sentiment, some analysts warned of too much confidence in higher prices.

“The overbought nature of the daily RSI’s (relative strength index).. has made both contracts (Brent and WTI) vulnerable to short-term profit taking on the headline-driven news,” said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.

Reporting by Henning Gloystein; Editing by Richard Pullin