Arab Today, arab today new york oil price slides low
Last Updated : GMT 20:13:35
Arab Today, arab today
Arab Today, arab today

New York oil price slides low

Arab Today, arab today

Arab Today, arab today New York oil price slides low

London - AFP

The price of New York oil sank on Wednesday to the lowest point in almost two months, pressured by eurozone debt crisis fears centred on Spain, and ahead of the latest US crude inventories report. The market was also hit after a US Federal Reserve official questioned the ability of the central bank\'s recent economic stimulus plan to boost the world\'s biggest crude-consuming nation, traders said. New York\'s main contract, light sweet crude for November, dived to $90.33 per barrel -- which was the lowest point since August 3. It later recovered slightly to stand at $90.61, down 76 cents from Tuesday\'s closing level. Brent North Sea crude for delivery in November retreated $1.15 to $109.30 a barrel in London midday deals. \"The renewed escalation of the debt crisis in the eurozone, with violent protests in Spain against the planned new austerity measures, has sparked gloomier sentiment on the financial markets once again and is also putting oil prices under pressure,\" said Commerzbank analyst Carsten Fritsch. Spain\'s debt-plagued government was on Thursday due to adopt an austerity budget that could be a precursor to a full-blown bailout. Attention was later in the day due to switch to the US Department of Energy as it publishes its snapshot of crude oil inventories for the week ending September 21. Oil prices had ended mixed on Tuesday as traders mulled comments from a US central bank official who was critical of the Fed\'s third round of economic stimulus, or quantitative easing (QE3) that was announced earlier this month. Charles Plosser, head of the Fed\'s Philadelphia branch, said he was doubtful the QE3 bond-buying programme would have great impact on charging up the US economy, and warned that the Fed could lose credibility. \"Many traders feel central bank stimulus is merely a sticking plaster for a broken leg, and that much more needs to be done to send the global economy safely on the road to recovery,\" IG Markets trading group said in a report. Crude prices had won a brief boost on Tuesday from tough talk toward Iran from US President Barack Obama at the United Nations. Obama vowed that the United States would not permit Iran to arm itself with nuclear weapons. Major crude producer Iran is locked in a standoff with the West over a nuclear programme that the West alleges is designed to produce a bomb. The Islamic republic maintains that it is purely for civilian purposes. \"Make no mistake. A nuclear-armed Iran is not a challenge that can be contained. It would threaten the elimination of Israel, the security of Gulf nations, and the stability of the global economy,\" Obama warned.

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 new york oil price slides low Arab Today, arab today new york oil price slides low

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Tabarka beauty between sea, mountain

GMT 06:37 2017 Wednesday ,01 March

Tabarka beauty between sea, mountain
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 Russia, China veto UN resolution

GMT 07:27 2017 Wednesday ,01 March

Russia, China veto UN resolution
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems

GMT 17:57 2017 Monday ,27 February

Crude oil to stabilise at $65 per barrel

GMT 13:01 2017 Monday ,27 February

UAE petrol and diesel prices for March to rise

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
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 Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
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 Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
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