Arab Today, arab today oil prices dive on darkening europe fears
Last Updated : GMT 18:42:12
Arab Today, arab today
Arab Today, arab today

Oil prices dive on darkening Europe fears

Arab Today, arab today

Arab Today, arab today Oil prices dive on darkening Europe fears

Washington - AFP

Oil prices plunged Thursday on profit-taking on the previous day\'s jump and European debt crisis worries grew after Spain had to pay record-high interest rates on its public borrowing. New York\'s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in December, closed at $98.82 a barrel, down $3.77 from Wednesday\'s closing level. The plunge more than wiped out Wednesday\'s $3.22 gain, driven by news of the sale of a US pipeline stake that could reduce transport bottlenecks and boost demand for US and Canadian crude. In London, Brent North Sea crude for delivery in January slumped $4.17 to settle at $108.22 a barrel. \"There is a good profit-taking -- technically, it just couldn\'t hold up,\" said John Kilduff at Again Capital, noting \"concerns about the eurozone.\" \"Crude oil prices retreated in a healthy correction lower, tracking heavy losses in the global equity markets,\" said Myrto Sokou, an analyst at Sucden Financial Research. Global stock markets fell on Thursday as France and Spain, the second- and fourth-largest economies in the eurozone, faced a sharp spike in borrowing costs. Spain\'s treasury had to pay a record 6.975 percent when it raised 3.6 billion euros ($4.8 billion) in a sale of 10-year bonds. France, the eurozone\'s second-largest economy, also was forced to pay sharply higher rates to raise 7.0 billion euros in new bond sales. Oil prices leaped higher Wednesday after Canadian company Enbridge said it was buying a 50 percent stake in the Seaway pipeline, which runs between the US Gulf of Mexico coast and the Cushing, Oklahoma oil storage hub. Enbridge and Enterprise Product Partners, which owns the other 50 percent of Seaway, said they would reverse the pipeline to move oil to the Gulf coast refining hub from Cushing starting in mid-2012, a move which could help demand for US crude and reduce the broad gap between WTI and Brent. \"The reversal of the Seaway pipeline (has already) resulted in a significant narrowing of the WTI-Brent spread, due to the notion that the so-called US Midwest glut will now be resolved,\" Barclays Capital analyst Amrita Sen said.

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 dive on darkening europe fears Arab Today, arab today oil prices dive on darkening europe fears

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
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 Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" 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