Arab Today, arab today oil down on eurozone us fears
Last Updated : GMT 21:55:33
Arab Today, arab today
Arab Today, arab today

Oil down on eurozone, US fears

Arab Today, arab today

Arab Today, arab today Oil down on eurozone, US fears

London - AFP

Oil fell sharply on Monday because of continuing fears over Greece\'s debt crisis and concerns over the US economy, analysts said. New York\'s main contract, West Texas Intermediate (WTI) light sweet crude for July delivery, dropped $1.35 to $91.66 a barrel. Brent North Sea crude for August shed $1.44 to $111.77 a barrel in London morning deals. \"Oil prices continue to be worn down by pressures concerning the Greek debt crisis, which is affecting markets globally,\" said Victor Shum, an analyst with Purvin and Gertz international energy consultancy in Singapore. European finance chiefs on Sunday launched crunch talks to avert the default of debt-stricken Greece amid fears of a domino effect across the eurozone. The finance ministers said they and the International Monetary Fund (IMF) would release 12 billion euros ($18 billion) of loans in \"mid-July\" on condition that Greece introduces tough budget cuts and asset sales. Markets are worried that a default on Greek debt could trigger a cascade of problems in Europe\'s bigger economies and spark another global financial crisis. \"Another primary concern is over the US economic outlook,\" Shum added. The IMF has joined calls for the US Congress to raise the country\'s debt limit, warning failure to act could provoke a major global market upheaval. The US government hit its legal borrowing limit of $14.29 trillion on May 16, forcing the Treasury to take extraordinary technical measures to avert a debt default. That room for manoeuvre is expected to run out on August 2. The issue of raising the debt limit is bogged down in Congress, where President Barack Obama\'s Democrats are at loggerheads with Republicans, who control the House of Representatives.

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 down on eurozone us fears Arab Today, arab today oil down on eurozone us fears

 



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 down on eurozone us fears Arab Today, arab today oil down on eurozone us fears

 



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
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
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