Arab Today, arab today oil prices creep higher before key us jobs data
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Oil prices creep higher before key US jobs data

Arab Today, arab today

Arab Today, arab today Oil prices creep higher before key US jobs data

US benchmark West Texas Intermediate
London - AFP

World oil prices nudged higher on Friday as dealers awaited key jobs data in the United States and digested OPEC's demand forecast downgrade.
Brent North Sea crude for delivery in December rose 17 cents to $83.03 a barrel around midday in London.
US benchmark West Texas Intermediate for December advanced 29 cents to $78.20 a barrel compared with Thursday's closing level.
"Today, all eyes are on the US employment data which will set the tone for (the) trading session," said senior analyst Myrto Sokou at the Sucden brokerage in London.
"We could expect thin trading volumes ahead of the US economic releases as investors would like to remain cautious, waiting for an insight of the US employment data."
At 1330 GMT, investors will digest US jobs data for October, with the market expecting upbeat news on the world's biggest economy and number one oil consuming nation.
Official data showed Thursday that initial US jobless claims fell 10,000 to 278,000 in the week ending November 1, the lowest level in 14 years.
"The very positive weekly jobless claims data reinforced expectations for a potentially strong US October jobs report today which could bring forward rate hike expectations," said analysts at Singapore's United Overseas Bank.
The oil market had fallen in earlier Asian deals on Friday after the OPEC oil cartel slashed its long-term global demand outlook, while a stronger dollar also weighed in.
The Organization of Petroleum Exporting Countries (OPEC) said in its annual world outlook Thursday that demand for its crude will fall from just above 30 million barrels per day in 2013 to 28.2 million in 2017, before starting to rise again.
The 12-nation group said the United States and Canada are the primary drivers of non-OPEC output growth, in part due to shale-oil production.
A stronger greenback meanwhile makes dollar-priced commodities like oil more expensive for buyers using weaker currencies, which in turn tends to hit demand and prices.

 

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 prices creep higher before key us jobs data Arab Today, arab today oil prices creep higher before key us jobs data

 



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 prices creep higher before key us jobs data Arab Today, arab today oil prices creep higher before key us jobs data

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
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 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

GMT 23:44 2017 Saturday ,03 June

OPEC daily basket price for Tuesday, 30th May 2017
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
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