Arab Today, arab today oil prices firm as traders eye ukraine
Last Updated : GMT 05:18:54
Arab Today, arab today
Arab Today, arab today

Oil prices firm as traders eye Ukraine

Arab Today, arab today

Arab Today, arab today Oil prices firm as traders eye Ukraine

London - AFP

Global oil prices edged higher Tuesday as investors kept a close eye on simmering international tensions over Crimea and awaited the outcome of a Federal Reserve monetary policy meeting. New York's main contract, West Texas Intermediate for delivery in April, gained just four cents to $98.12 a barrel compared with Monday's close. Brent North Sea crude for May delivery added 11 cents to stand at $106.35 in early afternoon London trade. Crude futures had fallen on Monday as markets downplayed fears of disruptions to Western European energy supplies after Crimea voted in a disputed referendum to leave Ukraine and join Russia. After Sunday's referendum -- slammed as a sham by the White House and the European Union -- Brussels and Washington issued sanctions on Russian President Vladimir Putin's inner circle on Monday. "Brent crude dropped sharply over trading yesterday, as sanctions against Russia from the EU appeared weak, and there were no commodity based elements to the sanctions," said Inenco analyst Joe Conlan. "This reduced the risk of any loss of supply from Russia and as the risk premium evaporated prices fell continuing the bearish trend of the last week." Western governments said they would freeze assets of key Russian presidential aides and lawmakers and target Crimean "separatist" leaders as well as ousted former Ukrainian president Viktor Yanukovych. Crimea's separatist authorities meanwhile moved against energy companies in their first nationalisations after deciding all Ukrainian state property would be transferred into Crimean ownership. "The current pulse of the market suggests a consensus view that oil and gas will continue to flow, even directly through Ukraine," said Tim Evans of Citi Futures. He added that Libyan oil production had dropped again as the country struggles with rebels blockading eastern oil terminals since July, cutting exports from 1.5 million barrels a day to a trickle of 250,000. On Monday, US Navy SEALs captured an oil tanker that had loaded crude at a rebel-held port in eastern Libya and escaped to sea, at the request of both Libya and Cyprus. The naval commandos were taking it to a Libya port, the US Defense Department said, without identifying the destination. "Libya is still presenting problems to the global market ... as oil production in the country has dropped to just 250,000 barrels per day,” added Conlan at Inenco. Elsewhere, traders were awaiting the outcome of the Federal Reserve's two-day policy meeting on Wednesday. The US central bank is expected to further cut its massive stimulus program amid a slowly recovering economy, the world's largest crude-oil consumer.

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 firm as traders eye ukraine Arab Today, arab today oil prices firm as traders eye ukraine

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
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