Arab Today, arab today oil ends higher after brent briefly slips below 50
Last Updated : GMT 07:36:31
Arab Today, arab today
Arab Today, arab today

Oil ends higher after Brent briefly slips below $50

Arab Today, arab today

Arab Today, arab today Oil ends higher after Brent briefly slips below $50

Brent oil sank
New York - AFP

Brent oil Wednesday briefly slipped below $50 a barrel for the first time since 2009, but crude finished higher on a strong day for US and European equity markets.
European benchmark Brent oil for delivery in February gained five cents to $51.15 a barrel in London after earlier sliding to another 5.5-year low at $49.66 a barrel.
US benchmark West Texas Intermediate for delivery in February advanced 72 cents to $48.65 a barrel on the New York Mercantile Exchange.
Analysts said the oil market benefited from better investor sentiment towards riskier investments. US and European stocks jumped following strong US trade and jobs data and weak European inflation figures that lifted speculation of more monetary stimulus from the European Central Bank.
The oil market "got a little bit of a boost because the stock market is up pretty substantially," said Phil Flynn, analyst with the Price Futures Group.
About 30 minutes before the closing bell, US stocks were up about one percent.
Flynn said oil also received some support from a US Department of Energy inventory report that showed crude supplies dropped 3.1 million barrels last week.
At the same time, Flynn said higher inventories of gasoline and distillate products "were kind of disappointing."
Analysts cautioned against reading much into Wednesday's rise in oil prices given overall supply-demand dynamics.
Oil prices remain under pressure from OPEC's stance on maintaining its current production levels, market oversupply, weak demand and the strong dollar.
Several analysts said the brief drop in Brent below $50 a barrel could be a harbinger of even lower prices.
"The move below $50 shows how momentum is everything here," CMC Markets analyst Michael Hewson told AFP.
"With no sign that OPEC will do anything about overproduction, it seems likely that we could well see further declines towards $40 in the coming weeks -- particularly given that demand shows no signs of picking up."

 

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 ends higher after brent briefly slips below 50 Arab Today, arab today oil ends higher after brent briefly slips below 50

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts

GMT 05:23 2017 Tuesday ,21 February

Oil rises, but growing US output threatens rally

GMT 00:24 2017 Tuesday ,21 February

OPEC daily basket price announced for Thursday

GMT 16:12 2017 Sunday ,19 February

Oil prices still under pressure from North America
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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