oil climbs on geopolitical tensions bright data
Last Updated : GMT 18:26:54
Arab Today, arab today
Arab Today, arab today

Oil climbs on geopolitical tensions, bright data

Arab Today, arab today

Arab Today, arab today Oil climbs on geopolitical tensions, bright data

New York - AFP

World oil prices advanced Tuesday on the back of rising concern about unrest in Egypt and bright global economic data, dealers said. Brent North Sea crude for delivery in August rose nine cents to $103.09 a barrel in London midday deals. New York\'s main contract, West Texas Intermediate light sweet crude for August, added 15 cents at $98.14 a barrel. Crude futures had surged on Monday on mounting concerns about deteriorating political conditions in Egypt, and on signs of strengthening manufacturing in Europe and the United States. \"Oil prices are continuing the recovery they began yesterday,\" said Commerzbank analyst Carsten Fritsch. \"As before, it is above all the risks to supply that are lending support to oil prices. The situation in Egypt is threatening to escalate further.\" Fritsch added: \"Although Egypt is not an oil exporter, the Suez Canal and a number of pipelines do make it an important transit route for oil from North Africa and the Gulf Region.\" Egypt\'s main opposition coalition on Tuesday said it would not support a \"military coup\" and trusted that an army statement giving political leaders 48 hours to resolve the current crisis did not mean it would assume a political role. It insisted that the demand for Islamist President Mohamed Morsi to step down does not violate democratic principles but is an attempt to bring the 2011 revolt that toppled Hosni Mubarak back on track. Upbeat US manufacturing data has meanwhile boosted hopes for stronger energy demand in the world\'s top crude consumer, analysts said. \"Oil will continue to have support from the rosy sentiment about demand created after the largely positive US manufacturing data,\" Desmond Chua, market strategist at CMC Markets in Singapore, told AFP. The Institute for Supply Management on Monday said its purchasing managers index of US manufacturing activity rose to 50.9 in June, up from May\'s 49. Of the 18 manufacturing industries surveyed, 12 reported growth. A PMI reading above 50 indicates expansion, while anything below points to contraction. At the same time, eurozone manufacturing data came in better than expected, raising hopes of a return to growth in the region. The Markit Eurozone Composite Purchasing Managers Index, a survey of what manufacturers see happening in their production processes, rose to 48.8 in June -- a 16-month high -- from 48.3 in May.

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*

oil climbs on geopolitical tensions bright data oil climbs on geopolitical tensions bright data

 



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*

oil climbs on geopolitical tensions bright data oil climbs on geopolitical tensions bright data

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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