Arab Today, arab today oil prices fall further on prospects of chinese slowdown
Last Updated : GMT 13:39:48
Arab Today, arab today
Arab Today, arab today

Oil prices fall further on prospects of Chinese slowdown

Arab Today, arab today

Arab Today, arab today Oil prices fall further on prospects of Chinese slowdown

London - AFP

World oil prices fell further on Thursday on mounting concerns about an economic slowdown in China, with the strong US dollar also putting pressure on prices, analysts said. Brent North Sea crude for delivery in September fell 44 cents to stand at $106.75 a barrel in midday deals in London. New York\'s main contract, West Texas Intermediate (WTI) for September, slid 15 cents to $107.08 a barrel. \"China has been and remains the key driver of global oil demand, the dynamism of which has this year been lagging considerably behind the expansion of supply,\" said Commerzbank analysts in a research note to clients. \"Weaker demand from China would thus cause the oversupply to increase even further.\" They added: \"Financial investors clearly see this as an opportunity to grab profits, so the oil price is likely to remain under pressure for the time being.\" New York crude had already dived by almost $2 on Wednesday after HSBC\'s preliminary purchasing managers index of Chinese manufacturing activity hit an 11-month low, signalling weaker demand in the world\'s top energy consuming nation. \"We are seeing a continuation of last night\'s pullback in crude prices over the weak Chinese data,\" Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP. The sluggish reading in China overshadowed upbeat economic data in the eurozone, where private business activity returned to growth in July for the first time for 18 months. Adding to the selling pressure was a pickup in the dollar, which makes oil more expensive for buyers using weaker currencies, denting demand.

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 further on prospects of chinese slowdown Arab Today, arab today oil prices fall further on prospects of chinese slowdown

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
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