Arab Today, arab today oil drops on signs china us fuel demand may slow
Last Updated : GMT 15:44:02
Arab Today, arab today
Arab Today, arab today

Oil drops on signs China, US fuel demand may slow

Arab Today, arab today

Arab Today, arab today Oil drops on signs China, US fuel demand may slow

New York - Arabstoday

Oil declined for a second day in New York as investors bet that a slump in Chinese imports and rising unemployment in the US indicated that fuel demand may falter in the world\'s biggest crude-consuming nations. Futures slipped as much as 0.9 per cent after China\'s net oil imports shrank 10 per cent in June to the lowest in eight months, according to Bloomberg calculations based on General Administration of Customs data released on Sunday. Prices also dropped after the US Labour Department said on Friday that employers added the fewest workers in nine months and the unemployment rate unexpectedly rose to the highest this year. Unemployment rate Article continues below \"The one thing that\'s going to restrain the demand recovery is this very high unemployment rate,\" said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne, who predicts oil in New York will average $113 (Dh415) a barrel in the third quarter. \"It dims the outlook on the second half of the year for demand.\" Crude for August delivery fell as much as 90 cents to $95.30 a barrel in electronic trading on the New York Mercantile Exchange, and was at $95.44 in Singapore. The contract dropped $2.47, or 2.5 per cent, to $96.20 on July 8. Prices are 28 per cent higher the past year. Brent oil for August settlement decreased 87 cents, or 0.7 per cent, to $117.46 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $22.06 to US futures. The difference reached a record $22.29 on June 15.

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 drops on signs china us fuel demand may slow Arab Today, arab today oil drops on signs china us fuel demand may slow

 



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 drops on signs china us fuel demand may slow Arab Today, arab today oil drops on signs china us fuel demand may slow

 



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 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