Arab Today, arab today oil prices hit fourmonth peaks on fed stimulus
Last Updated : GMT 03:43:35
Arab Today, arab today
Arab Today, arab today

Oil prices hit four-month peaks on Fed stimulus

Arab Today, arab today

Arab Today, arab today Oil prices hit four-month peaks on Fed stimulus

New York - AFP

Global oil prices soared Thursday to new four-month highs, as the US Federal Reserve announced a new round of quantitative easing to stimulate the flagging economy. The market also surged higher as traders eyed simmering geopolitical tensions in the crude-rich Middle East. New York\'s main contract, West Texas Intermediate (WTI) or light sweet crude for October delivery, leaped to $1.30 to $98.31 a barrel. In London, Brent North Sea crude for October jumped 94 cents to $116.90, its best level since May 2. The Fed pledged to keep its benchmark interest rate ultra-low through the middle of 2015 and launched a $40 billion a month program to buy in mortgage-backed bonds, aiming to drive down long-term rates and boost investment, spending and hiring. Analysts were dubious that would help the economy much, given other challenges to growth, but the markets liked it. \"After some initial waffling and that saw prices back to unchanged the market determined that it was good enough and risky assets including crude oil enjoyed a solid day. Ongoing and rising Middle East tensions certainly add to the buying interest,\" said Laney Sweatt at BMO Capital Markets. Meanwhile, India sparked turbulence in the local market when the government ordered a 12 percent hike to diesel prices, reversing a cut three months earlier.

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 hit fourmonth peaks on fed stimulus Arab Today, arab today oil prices hit fourmonth peaks on fed stimulus

 



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 hit fourmonth peaks on fed stimulus Arab Today, arab today oil prices hit fourmonth peaks on fed stimulus

 



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 How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
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