brent slips below 115 as dollar strengthens
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

Brent slips below $115 as dollar strengthens

Arab Today, arab today

Arab Today, arab today Brent slips below $115 as dollar strengthens

LONDON - Arabstoday

Brent crude oil fell below $115 a barrel Monday as investors weighed a slightly firmer US dollar and the prospect of increased demand from the start of the US summer driving season. Public holidays in the US and the UK yesterday were expected to limit trading volume. The US driving season, when gasoline demand usually rises, traditionally starts after Memorial Day holiday. Brent crude slipped 39 cents to $114.64 a barrel by 1100 GMT, having held above the first technical support level of $114. US crude dropped 45 cents to $100.14. "Trading volume is very thin with the UK and US markets not in. The only factor that I can see is a slightly firmer US dollar, which may put pressure on prices today," said Carsten Fritsch, analyst at Commerzbank. The euro slipped Monday, running into key chart resistance as uncertainty over how Greece's debt crisis will be tackled kept investors on edge, while the dollar stabilised following a slide late last week. A stronger dollar can reduce investor demand for dollar-denominated commodities such as oil. Oil traders remained focused on gasoline. Gasoline futures soared on Friday in anticipation of higher demand this summer, but gains were limited as a plunge in US home sales added to economic worries. Driving season starts "There are expectations of prices picking up purely because of the drive time in the US," said Jonathan Barratt of Commodity Broking Services managing director in Sydney. "We feel that might actually support crude prices." Even so, a US government report last week showed gasoline demand over the previous four weeks down 2 per cent on the year. Brent crude has risen about 20 per cent so far this year, boosted by fighting in Libya that has halted its oil exports and unrest in the Middle East. High energy costs have sparked global concern as they are a drag on economic growth. While the conflict in Libya has almost shut down oil output in what used to be Africa's third-largest producer, supply from all 12 members of Opec is expected to rise in May, according to a Reuters survey on Friday.

arabstoday
arabstoday

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*

brent slips below 115 as dollar strengthens brent slips below 115 as dollar strengthens

 



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*

brent slips below 115 as dollar strengthens brent slips below 115 as dollar strengthens

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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