Arab Today, arab today oil hovers below 97 in asia
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

Oil hovers below $97 in Asia

Arab Today, arab today

Arab Today, arab today Oil hovers below $97 in Asia

Singapore - Qna

Oil prices hovered below $97 a barrel Wednesday in Asia as receding inflation in China added to expectations that the world\'\'s second-largest economy can continue robust growth and strong demand for crude. Tweet Be the first to Tweet this!ShareThis Benchmark crude for December delivery was up 12 cents at $96.92 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.28 to settle at $96.80 in New York on Tuesday. Brent crude was up 57 cents at $115.57 a barrel on the ICE Futures Exchange in London. China said Wednesday that consumer prices rose 5.5% from a year earlier, down from September\'\'s 6.1% and a 37-month high of 6.5% in July. Policymakers had raised lending rates in a bid to cool consumer demand and slow the economy, which grew 9.1 in the three months ended September, down from the previous quarter\'\'s 9.5. \"There is no need for further tightening,\" said Citigroup, which forecast inflation will slow to below 5 by December. \"Falling inflationary pressures give the government more flexibility to ease policies.\" A belief that the global economy is slowing less than previously forecast has helped fuel a 28 surge in crude since it dropped to $75 on Oct. 4. Concern about a possible conflict with Iran over its nuclear power program also helped boost prices. Iran, the world\'\'s fourth-largest oil exporter, is suspected of developing nuclear weapons, according to a United Nations report released Tuesday. Its nuclear program could lead to international trade sanctions, and Israel has threatened military action. \"Disruptions to Iranian supply would drive oil prices significantly higher,\" Morgan Stanley said in a report. Traders are also closely watching the latest U.S. crude inventory figures. The American Petroleum Institute said late Tuesday that crude inventories rose 148,000 barrels last week while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had predicted an increase of 1 million barrels. Inventories of gasoline fell 1.5 million barrels last week while distillates dropped 2.9 million barrels. The Energy Department\'\'s Energy Information Administration reports its weekly supply data later Wednesday. In other Nymex trading, heating oil rose 1.6 cents to $3.13 per gallon and gasoline futures added 1.9 cents to $2.73 per gallon. Natural gas slid 0.4 cent at $3.74 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 hovers below 97 in asia Arab Today, arab today oil hovers below 97 in asia

 



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 hovers below 97 in asia Arab Today, arab today oil hovers below 97 in asia

 



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 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
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