Arab Today, arab today oil below 108 in asia
Last Updated : GMT 00:26:33
Arab Today, arab today
Arab Today, arab today

Oil below $108 in Asia

Arab Today, arab today

Arab Today, arab today Oil below $108 in Asia

Singapore - Arabstoday

Oil prices fell slightly to below $108 a barrel Friday in Asia as a traders mulled whether a weaker US dollar and signs of strong US gasoline demand justify extending a two-month rally. Benchmark crude for May delivery was down 33 cents at $107.78 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $1.00 to settle at $108.11 on Thursday. In London, Brent crude for June delivery was down 6 cents to $121.94 a barrel on the ICE Futures exchange. Oil prices sold off the first two days of this week, dropping from $113.46 on Monday, the highest since September 2008. However, a weaker dollar and signs US gasoline consumption remains robust helped staunch those losses and turn crude prices back upward. Crude has gained 28 percent since 15 February. \"Oil bulls, with tremendous help from a feeble US dollar, have managed to regroup and claw back into the fray,\" energy consultant The Schork Group said. For much of the last decade, there has been a strong correlation between the dollar and oil prices. If the US currency falls, it makes dollar-based commodities such as crude cheaper for investors with other currencies. The oil/dollar correlation weakened between about October and March, but has returned this month, and on Thursday the dollar fell to a 16-month low against a basket of six major currencies. \"This relationship has re-coupled, with a vengeance,\" The Schork Report said. \"Thus, here we go again, as goes the dollar, goes oil, in the opposite direction.\" The euro fell slightly to $1.4449 on Friday from $1.4487 late Thursday while the dollar slid to 83.13 yen from 83.49 yen. Investors will also be closely watching the latest data on US consumer prices and industrial production scheduled to be released later Friday. \"It looks to us like oil prices have had their correction,\" Cameron Hanover said in a report. \"We continue to believe that prices will advance again to post new highs before 30 May.\" In other Nymex trading in May contracts, heating oil rose 1 cent to $3.20 a gallon and gasoline was steady at $3.24 a gallon. Natural gas futures were down 1.7 cents at $4.20 per 1,000 cubic feet.

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 below 108 in asia Arab Today, arab today oil below 108 in asia

 



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 below 108 in asia Arab Today, arab today oil below 108 in asia

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
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 Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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