Arab Today, arab today oil market slides on iran news
Last Updated : GMT 16:43:08
Arab Today, arab today
Arab Today, arab today

Oil market slides on Iran news

Arab Today, arab today

Arab Today, arab today Oil market slides on Iran news

London - AFP

Global oil prices fell on Monday following news that a landmark deal to curb parts of Iran's disputed nuclear programme in exchange for sanctions relief will take effect from January 20. New York’s main contract West Texas Intermediate for February delivery lost 61 cents to $92.11 a barrel. Brent North crude for February dipped 64 cents to stand at $106.60 in London. "Prices have softened slightly this morning as progress on a deal regarding Iran’s nuclear programme sets the stage for easing sanctions which could boost supply," said Sucden brokers analyst Kash Kamal. US President Barack Obama welcomed the announcement, but warned there was still a rough road ahead to clinch a comprehensive deal. Obama added that he would veto any attempt by Congress to impose new sanctions on Iran during the next phase of negotiations. "This is bearish for oil as we may see some oil sanctions lifted if the deal goes well," added Inenco analyst Lucy Sidebotham. The Islamic republic's oil exports have been crippled by a series of international sanctions aimed at bringing an end to its nuclear drive, which the West claims is being used to develop atomic weapons. Iran denies the assertion. Tehran agreed in November to roll back parts of its nuclear work and halt further advances in exchange for the release of billions of dollars in frozen assets and limited relief from sanctions that have choked its economy. The oil market also fell on Monday as traders continued to digest last Friday's weaker-than-expected non-farm payrolls data in top crude consumer the United States. The US government's Labor Department said Friday that the world's biggest economy added just 74,000 jobs in December. That dashed market hopes for a gain of 197,000. While the jobs data was weaker than expected, it could also prompt the Federal Reserve to delay any further reduction in its stimulus programme at its next meeting later this month. At its most recent meeting in December the bank's policy committee said it would cut its bond-buying scheme by $10 billion a month to $75 billion in January, citing a pick-up in the economy. Any delay to the tapering would put downward pressure on the US currency and make dollar-priced oil cheaper, boosting demand and prices. "Oil prices came under pressure in the wake of Friday’s disappointing US labour market datak," said Commerzbank analysts in a note to clients. "A weaker US dollar and the prospect of the US Federal Reserve possibly scaling back its bond purchases more slowly allowed prices to recover slightly overnight," they added.  

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 slides on iran news Arab Today, arab today oil market slides on iran news

 



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 slides on iran news Arab Today, arab today oil market slides on iran news

 



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 Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
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 Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
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 Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

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 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

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