Arab Today, arab today oil near 123 on china economy supply worries
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Oil near $123 on China economy supply worries

Arab Today, arab today

Arab Today, arab today Oil near $123 on China economy supply worries

China - Arabstoday

Oil held near $123 a barrel on Monday, supported by signs of an improving economy in China, and actual and threatened supply disruptions in the Middle East and Africa. China’s official Purchasing Managers’ Index (PMI) hit an 11-month high in March, easing investor concern of a sharp economic slowdown in the world’s second-largest oil consumer. Brent crude was up 2 cents to $122.90 a barrel by 0828 GMT. It ended the first quarter up 14.3 percent, its biggest quarterly rise since the first quarter of 2011. US crude eased by 10 cents to $102.92. “The Chinese PMI numbers were much better than expected and that would have an impact on oil. This will help answer some of the questions over a potential hard landing in China,” said Ben Le Brun, a market analyst at OptionsXpress in Sydney. Following the Chinese PMI figures, investors will be keeping an eye on US manufacturing data, the ISM index, due later on Tuesday for signs of economic health in the world’s biggest oil user. Oil was also supported by the prospect of supply disruptions. US President Barack Obama said on Friday there was enough oil in the world market to allow countries to cut imports from Iran, OPEC’s second-largest producer. In his decision, Obama said increased production by some countries as well as “the existence of strategic reserves” helped him come to the conclusion that sanctions can advance. Iran and six world powers will meet in Turkey on April 13-14 for a round of talks over Tehran’s disputed nuclear programme, US Secretary of State Hillary Clinton said on Saturday. While threats to Iranian supply are the main worry for oil markets, actual supply has been cut in Syria, Yemen and South Sudan. Top global oil exporter Saudi Arabia is pumping almost 10 million barrels per day, the highest in decades. Sudan and South Sudan on Sunday accused each other of launching attacks in the oil-producing area straddling their border after a delay in talks aimed at ending hostilities.

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 near 123 on china economy supply worries Arab Today, arab today oil near 123 on china economy supply worries

 



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 near 123 on china economy supply worries Arab Today, arab today oil near 123 on china economy supply worries

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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