Arab Today, arab today oil prices drop as dollar gains further
Last Updated : GMT 05:46:51
Arab Today, arab today
Arab Today, arab today

Oil prices drop as dollar gains further

Arab Today, arab today

Arab Today, arab today Oil prices drop as dollar gains further

Oil prices fall
London - AFP

Oil prices dropped Tuesday as dealers weighed a strengthening dollar and geopolitical tensions that are undermining production in the crude-rich Middle East, analysts said.
US benchmark West Texas Intermediate for delivery in April fell 35 cents to $49.65 a barrel.
Brent North Sea crude for April shed 78 cents to $57.75 a barrel.
The euro tumbled Tuesday towards a 12-year dollar low, hit by eurozone stimulus, growing US rate hike speculation and Greek debt concerns, dealers said.
In morning London deals, the European single currency sank to $1.0735 -- the lowest level since mid-April 2003. The region's stock markets also fell.
A stronger greenback makes dollar-priced oil more expensive for buyers using weaker currencies, denting demand and pushing prices lower.
Intensified fighting in Libya between rival militias and the emergence there of the Islamic State group supported higher crude prices.
Fighting in the north African state, a member of the OPEC oil-producing cartel, has seen output slashed some tenfold, from a high of almost 1.5 million to 150,000 barrels a day, according to analysts.  
Iraq, another OPEC member, is also battling jihadists who spearheaded a sweeping offensive in June that overran large areas north and west of Baghdad.
Singapore's United Overseas Bank said oil remained under pressure as a stronger US dollar was "offsetting geopolitical tensions and the threat of output cuts in Libya and Iraq".

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 drop as dollar gains further Arab Today, arab today oil prices drop as dollar gains further

 



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 drop as dollar gains further Arab Today, arab today oil prices drop as dollar gains further

 



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
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