Arab Today, arab today oil prices drop on fed tapering concerns
Last Updated : GMT 06:53:52
Arab Today, arab today
Arab Today, arab today

Oil prices drop on Fed tapering concerns

Arab Today, arab today

Arab Today, arab today Oil prices drop on Fed tapering concerns

New York - XINHUA

Oil prices continued to fall on Thursday as an upbeat U.S. jobs report fueled market concerns that the Federal Reserve will start to taper its monetary easing measures soon. The number of Americans who initially applied for unemployment aid last week edged up from a five-year low, the U.S. Labor Department reported on Thursday. In the week ending Aug. 3, the advance figure for seasonally- adjusted initial jobless claims rose by 5,000 to 333,000, from an upwardly-revised 328,000 in the previous week. And the four-week moving average, a less volatile measure of the claims, declined by 6,250 to 335,500, the lowest level since November 2007. Traders were worried about possible Fed tapering amid a string of good economic data. Cleveland Fed President Sandra Pianalto said on Wednesday that the U.S. central bank is ready to scale back its asset purchase programs if the labor market remains on the current strong path. On Tuesday, Atlanta Fed President Dennis Lockhart also warned that the Fed\'s initial tapering of its bond-buying programs could be launched at any of its three remaining monetary policy meetings this year. The increase of the U.S. oil output also weighed on crude prices. The Energy Information Administration (EIA) reported on Tuesday in its short-term energy outlook that U.S. crude oil production rose to an average of 7.5 million barrels per day (bbl/ d) in July 2013, the highest monthly level since 1991. It also forecast that the output will average 7.4 million bbl/d in 2013 and 8.2 million in 2014. Light, sweet crude for September delivery lost 97 cents to settle at 103.4 dollars a barrel on the New York Mercantile Exchange. Brent for September delivery went down 76 cents to close at 106. 68 dollars a barrel.  

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 on fed tapering concerns Arab Today, arab today oil prices drop on fed tapering concerns

 



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 on fed tapering concerns Arab Today, arab today oil prices drop on fed tapering concerns

 



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