oil mixed in asian trade on eurozone worries
Last Updated : GMT 03:43:56
Arab Today, arab today
Arab Today, arab today

Oil mixed in Asian trade on eurozone worries

Arab Today, arab today

Arab Today, arab today Oil mixed in Asian trade on eurozone worries

Singapore - Arabstoday

Oil prices were mixed in Asian trade on Tuesday on fresh worries about the eurozone debt crisis after leadership changes in France and Greece underscored massive public anger over austerity measures. Expectations of an increase in US crude stockpiles, which would indicate weaker energy demand, also contributed to weak market sentiment, analysts said. New York's main contract, West Texas Intermediate (WTI) crude for delivery in June was down 13 cents at $97.81 per barrel while Brent North Sea crude for June gained 18 cents to $113.34 in morning trade. "European election results revived worries about the eurozone debt crisis, reinforcing anxiety about anaemic economic growth and petroleum demand," said Phillip Futures in a market commentary. The results in France and Greece "raised doubts about the region's ability to proceed with austerity measures seen as crucial to addressing soaring debt and a contracting economy," it added. Voters in both countries displayed their discontent with austerity measures by flocking to candidates and political parties who have called for an easing of belt tightening in the embattled 17-nation bloc using the euro currency. In France, Socialist Party candidate Francois Hollande ousted President Nicolas Sarkozy, becoming the first socialist in 17 years to lead the eurozone's second-largest economy. In Greece, mainstream parties that supported an EU-IMF bail-out of the debt-strapped country lost control of parliament. And in Italy, the country's centre-left was also headed for victory in local elections as Italian voters joined other crisis-hit eurozone countries to reject austerity cuts. Meanwhile, oil prices were also facing downside pressure from expectations of a spike in US crude stockpiles for the seventh consecutive week, indicating faltering demand in the world's top oil user, according to analysts. The weekly inventory report from the US Energy Department is due Wednesday. "US crude stockpiles may have risen to levels not seen for more than 20 years which has softened prices," said Justin Harper, market strategist at IG Markets Singapore.

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*

oil mixed in asian trade on eurozone worries oil mixed in asian trade on eurozone worries

 



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*

oil mixed in asian trade on eurozone worries oil mixed in asian trade on eurozone worries

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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