Arab Today, arab today crude prices drift lower after crimea referendum
Last Updated : GMT 18:42:37
Arab Today, arab today
Arab Today, arab today

Crude prices drift lower after Crimea referendum

Arab Today, arab today

Arab Today, arab today Crude prices drift lower after Crimea referendum

London - AFP

Oil slipped lower Monday as the United States hinted at fresh sanctions against Moscow after Crimea voted in a disputed referendum to leave Ukraine and join Russia. New York's main contract, West Texas Intermediate for delivery in April, fell 24 cents to $98.65 a barrel compared with Friday's close. Brent North Sea crude for May delivery slid 57 cents to stand at $107.64 around midday in London. Washington strongly rejected the vote on Sunday, saying it violated Ukraine's constitution and was carried out "under duress of Russian military intervention." "The oil market still looks very comfortable even after the referendum in the Crimea," said Commerzbank analyst Carsten Fritsch. Crimea was due to formally apply to join Russia on Monday after voting to split from Ukraine, as Europe prepared to hit Moscow with a wave of sanctions in the worst East-West stand-off since the Cold War. An overwhelming 96.6 percent of voters on the mostly Russian-speaking peninsula chose to secede from Ukraine, according to final results from Sunday's referendum, which the Kremlin is accused of orchestrating. There was international condemnation of the referendum, with the European Union saying it was "illegal and illegitimate" and the outcome would not be recognised. Investors are worried that potential sanctions against Russia could disrupt gas and oil supplies from the country. More than 70 percent of Russia's gas and oil exports to Europe pass through Ukraine. "The West is refusing to recognise the result of the referendum ... and plans to discuss further sanctions against Russia over the next few days," added Fritsch. "Clearly nobody expects the oil and gas sectors to be affected, as the negative economic consequences would simply be too serious for both sides. "After all, roughly a third of the EU's oil and gas imports come from Russia –- in Germany the proportion is even somewhat higher." The Crimean referendum would mark the most radical redrawing of the map of Europe since Kosovo's 2008 declaration of independence from Serbia. Traders are also keeping an eye on the Federal Reserve's next policy meeting on Tuesday and Wednesday. The US central bank is expected to further cut its economic stimulus programme as the economy shows further signs of recovery. The health of the US economy is a key influence on oil prices as the United States is the world's biggest oil consuming nation.

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*

Arab Today, arab today crude prices drift lower after crimea referendum Arab Today, arab today crude prices drift lower after crimea referendum

 



Arab Today, arab today

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 crude prices drift lower after crimea referendum Arab Today, arab today crude prices drift lower after crimea referendum

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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