Arab Today, arab today oil prices fall back as shares plunge
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Oil prices fall back as shares plunge

Arab Today, arab today

Arab Today, arab today Oil prices fall back as shares plunge

London - AFP

World oil prices fell on Friday at the end of a rollercoaster week as traders eyed mixed economic data, resurgent doubts over the eurozone debt crisis and plunging European stock markets. New York\'s main contract, West Texas Intermediate (WTI) for delivery in November, dipped 12 cents to $82.02 a barrel. Brent North Sea crude for November was down 53 cents to $103.42 in London midday trade. In a volatile week for the oil market, prices surged by more than four dollars in New York on Tuesday, mirroring huge gains in equities, as investors hoped that European leaders would contain the eurozone debt crisis. But prices tumbled on Wednesday as those hopes subsided and after data showed a bigger than expected increase in energy stockpiles in the United States, indicating weak demand in the world\'s biggest economy and oil consumer. Prices edged higher Thursday on news that German lawmakers had approved an expansion of the eurozone\'s rescue fund while sentiment was also lifted by hopeful economic data in the United States. However, those gains were capped by news of plunging German retail sales and a contracting manufacturing sector in China. \"Following the mixed economic data and weaker global equity markets, crude oil prices reversed and traded lower on Friday, in a correction lower,\" said Sucden brokers analyst Myrto Sokou. European equities tumbled once more on Friday, the last trading day of the third quarter, as markets doubted whether a boost to the eurozone bailout fund would provide the panacea to the bloc\'s debt crisis. The German parliament on Thursday voted overwhelmingly to beef up the size and scope of the 440-billion-euro ($590 billion) European Financial Stability Facility (EFSF), handing it new powers and easing eurozone crisis concerns. The move by Germany was greeted with relief by traders as well as bourses in the US and Europe, with attention now turning to the key international audit of debt-mired Greece. Investors are still on edge amid stubborn fears that Greece could still default and send fresh shockwaves through global financial markets. \"Volatility is going to remain on the commodities board as the situation in the eurozone is still uncertain, without a clear solution for the Greek debt issues,\" Sokou added.

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 back as shares plunge Arab Today, arab today oil prices fall back as shares plunge

 



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 back as shares plunge Arab Today, arab today oil prices fall back as shares plunge

 



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