Arab Today, arab today iea demand downgrade fails to curb crude prices
Last Updated : GMT 08:19:34
Arab Today, arab today
Arab Today, arab today

IEA demand downgrade fails to curb crude prices

Arab Today, arab today

Arab Today, arab today IEA demand downgrade fails to curb crude prices

London - Arabstoday

Oil prices rose yesterday on the weaker dollar and mostly positive global data as traders ignored news that the International Energy Agency (IEA) had cut its estimate for demand growth in 2012, traders said. New York\'s main contract, West Texas Intermediate crude for delivery in February, increased 60 cents to $101.31 a barrel. Brent North Sea crude for March gained 29 cents to $111.82. \"A very quiet start to the day, with oil up on a slightly weaker dollar,\" VTB Capital commodities analyst Andrey Kryuchenkov said. \"Crude mostly ignored the IEA\'s downbeat assessment of demand growth in 2012.\" The dollar lost ground against the euro yesterday as speculation that China could ease monetary policy improved market sentiment and encouraged investors to buy the risk-sensitive single currency. The shared Eurozone unit rallied to $1.2811 in London late morning trade from $1.2737 in New York late Tuesday. The IEA yesterday cut its 2012 global oil demand growth forecast, with the market dragged down by a weakening world economy and stubbornly high prices, while the nuclear crisis with Iran deepens. Stable outlook The IEA added that oil prices, however, remained stable as \"a rising likelihood of sharp economic slowdown\" was offset by supply concerns linked partly to the Iran crisis. In December, supply from non-members of the Organisation of Petroleum Exporting Countries (Opec) fell by 140,000 bpd to 53.2 million barrels per day (bpd) due to Middle East unrest and other unplanned outages, the IEA said. A rebound to 340,000 bpd growth is expected for the first quarter of 2012 and 1.0 million bpd for 2012 overall. The IEA warned that in 2012 that geopolitical risks have shifted to Nigeria, Iraq and \"most pressingly, Iran.\"

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 iea demand downgrade fails to curb crude prices Arab Today, arab today iea demand downgrade fails to curb crude prices

 



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 iea demand downgrade fails to curb crude prices Arab Today, arab today iea demand downgrade fails to curb crude prices

 



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
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