Arab Today, arab today brent crude rebounds on positive us job
Last Updated : GMT 15:53:59
Arab Today, arab today
Arab Today, arab today

Brent crude rebounds on positive US job

Arab Today, arab today

Arab Today, arab today Brent crude rebounds on positive US job

London - Arabstoday

Brent crude rose to above $108 (Dh396.6) a barrel Friday, rebounding from the lowest since June, supported by better-than-expected news on US jobs that eased concern about the health of the world\'s largest economy and oil consumer.Prices extended an earlier gain after the Labour Department said US payrolls increased by 117,000 in July, above expectations. Crude rose from its session low on reports of an explosion on an oil pipeline in Iran.Brent was up $1.39 at $108.64 a barrel at 1358 GMT, having earlier fallen to $104.30, the lowest since June 27, on concern demand will weaken as US growth falters and Europe\'s debt crisis worsens. It fell almost $6 in the previous session. \"A quick glance at the latest jobs report shows it is positive, better than expected. But whether the market will be able to stem its downslide after the recent stream of negative economic data remains to be seen,\" said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.US crude was down 15 cents at $86.48 in choppy trade. The US benchmark earlier plunged as low as $82.87, the lowest since November 26, after sliding almost six per cent on Thursday. Oil also rose as an Iranian pipeline explosion in the early hours yesterday shut flows of up to 40,000 barrels per day (bpd). Iran is the second-largest Opec producer after Saudi Arabia. \"It\'s a bit wild to say the least,\" said Rob Montefusco, a trader at Sucden Financial. \"It was carnage first thing this morning, and then we had this explosion in Iran, which has sent it straight back up again.\"Other markets rebounded from earlier declines after the US jobs data released at 1230 GMT. European shares briefly turned positive after hitting a 14-month low and US stocks — a day after suffering their worst sell-off since the middle of the financial crisis in early 2009 — opened higher.Some investors had warned even a strong jobs report would not be enough to allay concerns about the oil demand outlook.\"Even if today\'s employment numbers are better than expected, the markets probably need much more to recover,\" said Tetsu Emori, a fund manager at Tokyo-based Astmax Co Ltd., before the jobs report was released. \"People should be very nervous, and they should think that oil demand will be less than expectations.\"The leaders of Germany, France and Spain were to hold crisis talks about Europe\'s spiralling debt crisis yesterday after China and Japan called for global policy cooperation following the market rout.There are increasing signs oil demand is being eroded, in part because of high prices. Barclays Capital, one of the most bullish on oil prices, has trimmed its global demand growth forecast for this year.Before Friday\'s rally, commodity benchmark the Reuters-Jefferies CRB index was down more than four per cent for the week, its biggest drop since losing nearly nine per cent in May. From / Gulf News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brent crude rebounds on positive us job Arab Today, arab today brent crude rebounds on positive us job

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 21:32 2017 Friday ,24 February

Dubai announces crude oil price for May

GMT 13:37 2017 Thursday ,23 February

Oman oil price rises 30 cents

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday