Arab Today, arab today oil above 103 after china data
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Oil above $103 after China data

Arab Today, arab today

Arab Today, arab today Oil above $103 after China data

London - Arabstoday

Oil held steady on Tuesday after China’s economy showed signs of improvement, offsetting further evidence of damage to Europe’s economy. China’s manufacturing output in July grew at its fastest pace in nine months, helping lift an index of activity in the country’s factory sector to its highest level since February and suggesting pro-growth government policies are having an impact. “China is the biggest driver of oil demand and its overall oil appetite does not seem to have suffered so much, as it builds up infrastructure and crude stockpiles,” said Tony Nunan, a Tokyo-based risk manager at Mitsubishi Corp. Brent crude was up 4 cent at $103.30 a barrel by 1045 GMT, after earlier reaching $104.26 in earlier trade. U.S. crude was up 3 cents to trade at $88.17. Brent fell more than 3 percent on Monday after Spain’s central bank said the euro zone’s fourth-largest economy sank deeper into recession in the second quarter, stoking fears the country was headed for a bailout. And the likelihood of the euro zone tipping back into recession grew after the bloc’s private sector shrank for a sixth month in July as manufacturing output plunged. “The euro zone crisis will take months or years to find a solution ... unfortunately there’s no quick fix as there are many moving parts,” said Nunan. Even Germany, Europe’s largest economy, is feeling the chill from the debt crisis. Its private sector shrank for a third straight month in July, suggesting the economy may contract in the third quarter after an expected fall in the second. Further clouding investor sentiment, Moody’s Investors Service changed its outlook for Germany, the Netherlands and Luxembourg to negative from stable and cited an increased chance that Greece could leave the euro zone. Middle East uncertainty Oil found some support from supply worries triggered by turmoil in Syria and tension between Iran and the West. As international pressure continues on President Bashar al-Assad’s government, Syria acknowledged on Monday that it had chemical and biological weapons and said it could use them if foreign countries intervened in its civil war. “The risks of escalation of the conflict in Syria, we think, will continue to limit the extent of any bearish sentiment,” ANZ analysts said in a note on Tuesday. Also on the supply front, U.S. crude oil stockpiles are forecast to have remained unchanged over the last week as a drop in imports was offset by lower refinery run rates, a preliminary Reuters poll showed on Monday. From khaleejtimes

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 oil above 103 after china data Arab Today, arab today oil above 103 after china data

 



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 oil above 103 after china data Arab Today, arab today oil above 103 after china data

 



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 Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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