Arab Today, arab today oil prices in modest rise after last weeks rally
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

Oil prices in modest rise after last week's rally

Arab Today, arab today

Arab Today, arab today Oil prices in modest rise after last week's rally

US benchmark West Texas Intermediate
New York - AFP

World oil prices modestly extended last week's gains Monday in cautious trade as investors digested news of another rise in US crude oil inventories in an abundantly supplied global market.

US benchmark West Texas Intermediate for delivery in May closed at $51.91 a barrel, up 27 cents from Friday's closing level.

Brent North Sea crude for May, the global benchmark, crept up a slight six cents to settle at $57.93 in London trade.

The New York market had opened solidly higher, encouraged by poor Chinese trade data that stoked speculation that the Chinese government would step in with more support for its economy.

"The crude complex is seeing continued momentum from last week's rally, as the slumbering notion of 'bad is good' is awakened once more by some dire data out of China, prompting hopes of stimulus measures from the world's largest energy consumer," said Matt Smith of Schneider Electric.

But the market fell off in the morning after energy data provider Genscape reported that US crude oil supplies had again increased at the key storage hub in Cushing, Oklahoma, the delivery point for WTI, said Bill Baruch of iiTrader.com.

That suggested that US production continues to swamp the market.

"We're entering a big week with a lot of key releases," Baruch said, ticking off China's economic growth numbers Tuesday, the Department of Energy's US inventories report Wednesday, and OPEC's monthly market report Thursday.

Both WTI and Brent gained more than five percent last week after a drop in the number of US oil rigs in operation, better economic data from Germany and fading concerns about a return of Iranian oil to an oversupplied market after Tehran reached a preliminary deal with Western powers over its nuclear program.

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 in modest rise after last weeks rally Arab Today, arab today oil prices in modest rise after last weeks rally

 



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 in modest rise after last weeks rally Arab Today, arab today oil prices in modest rise after last weeks rally

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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