Arab Today, arab today oil prices fall again on global growth worries
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Oil prices fall again on global growth worries

Arab Today, arab today

Arab Today, arab today Oil prices fall again on global growth worries

US benchmark West Texas Intermediate for November delivery
New York - AFP

Oil prices dropped again Wednesday on rising fears that slowing economic growth will hit petroleum demand and further glut the market.
US benchmark West Texas Intermediate for November delivery dipped six cents to $81.78 a barrel on the New York Mercantile Exchange, the lowest closing price since late June 2012.
European benchmark Brent oil for November delivery dropped $1.22 to $83.78 a barrel in London.
The losses were modest compared with Tuesday's sell-off, when WTI dropped nearly five percent after the International Energy Agency slashed its global oil demand forecast.
But the extended losses showed "sentiment is bearish to say the least," said Andy Lebow, senior vice president of energy derivatives at Jefferies Bache.
"The supply and demand balance is clearly bearish," he said.
Lebow said there was no major petroleum-specific news Wednesday, but that the oil market took its cues from the equity market, which suffered deep losses on concerns about global growth.
US oil prices have dropped about 24 percent since mid-June.
In recent days, the oil market dropped further as the European and Chinese growth outlook darkened and as  Saudi Arabia and others in OPEC have signaled that they will keep production high in spite of the pullback in prices.
"The market remains focused on the prospect of OPEC cartel members chasing market share with discounts, at a time when the market was expecting them to rein in production to support prices instead," said Matt Smith, analyst at Schneider Electric.

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 fall again on global growth worries Arab Today, arab today oil prices fall again on global growth 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 prices fall again on global growth worries Arab Today, arab today oil prices fall again on global growth 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