Arab Today, arab today oil market edges higher before us stockpiles report
Last Updated : GMT 18:48:03
Arab Today, arab today
Arab Today, arab today

Oil market edges higher before US stockpiles report

Arab Today, arab today

Arab Today, arab today Oil market edges higher before US stockpiles report

London - AFP

Global oil prices held firm on Wednesday, as dealers sat on the sidelines ahead of an upcoming US stockpiles report, while a record-breaking North American cold snap provided support. New York’s main contract West Texas Intermediate for February delivery added just four cents to $93.71 a barrel. Brent North crude gained 12 cents to stand at $107.47 a barrel in early afternoon London deals. Crude futures have been hit in recent days as an oil field in Libya stepped up production after the government there convinced residents to lift a five-month blockade. "The market has just pulled a bit (higher) at this stage after a few days of steep decline for WTI," Ric Spooner, chief market analyst at CMC Markets in Sydney, told AFP. "I think investors have gone into the wait-and-see mode prior to the release of the inventory data," he said. The US Energy Information Administration will release the official stockpiles report later Wednesday. Estimates from 11 analysts surveyed by the Wall Street Journal showed US stockpiles are projected to have fallen 600,000 barrels on average in the week to January 3. US stockpile levels are keenly monitored by investors as it is an indicator of demand in the world's largest largest economy and the biggest oil consuming nation. Prices were also underpinned by a boost in demand for heating fuel following a record-breaking cold snap in North America. All of Canada and all the US states bar tropical Hawaii recorded temperatures below freezing on Tuesday, even usually sunny and warm Florida and California. The drastic drop in temperatures has been attributed to a shift in a weather pattern known as the "polar vortex", which has coincided with wind chill warnings across the eastern seaboard. Spooner said a prolonged spell of bad weather could put pressure on prices "because the whole economy loses production due to disrupted services”.

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 market edges higher before us stockpiles report Arab Today, arab today oil market edges higher before us stockpiles report

 



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 market edges higher before us stockpiles report Arab Today, arab today oil market edges higher before us stockpiles report

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
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 Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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