Arab Today, arab today oil prices lower over eurozone debt worries
Last Updated : GMT 06:33:18
Arab Today, arab today
Arab Today, arab today

Oil prices lower over eurozone debt worries

Arab Today, arab today

Arab Today, arab today Oil prices lower over eurozone debt worries

London - AFP

Oil prices fell on Monday with the demand outlook uncertain as the market awaited the outcome of a European Union summit on containing the eurozone debt crisis, analysts said. New York\'s main contract, West Texas Intermediate crude for delivery in March, shed 51 cents to $99.05 a barrel. Brent North Sea crude for March dropped 31 cents to $111.15 in London deals approaching midday. \"The main factor affecting oil prices right now has to be the debt situation in Europe and the outcome of today\'s summit in Brussels,\" said Victor Shum, an analyst for Purvin and Gertz energy consultants in Singapore. EU leaders are to meet to finalise details on a fiscal pact to reign in budget deficits and to endorse a permanent bailout fund with a lending capacity of 500 billion euros ($650 billion). The summit comes as Greece -- the epicentre of the eurozone\'s debt crisis -- inches towards striking an agreement with private creditors to erase 100 billion euros of its debt and implementing a new recovery plan put forward by the International Monetary Fund and the EU. The eurozone and the IMF are demanding this commitment, even asking for it in writing as a precondition for a second 130 billion euro rescue package. Analysts said the situation in the Middle East also continues to be a factor influencing oil prices. Officials from the UN atomic watchdog, the International Atomic Energy Agency, visited Iran on Sunday to discuss Tehran\'s suspected nuclear weapons drive. The visit is regarded as a rare opportunity to alleviate a building international showdown over Iran\'s nuclear programme marked by a ratcheting up of sanctions and talk of possible Israeli military action. \"The outcome of the IAEA inspection in Iran will also be a major factor affecting oil prices in the coming days,\" said Shum. The EU last week imposed fresh sanctions on Iranian oil as part of a concerted effort with the United States to pressure Tehran into halting its controversial nuclear activities, which are suspected to be aimed at developing nuclear weapons. Tehran insists that its nuclear programme is solely for civilian purposes. Iran is the second-biggest producer in Organization of Petroleum Exporting Countries (OPEC), behind Saudi Arabia. It pumps some 3.5 million barrels a day, and exports 2.5 million.  

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 lower over eurozone debt worries Arab Today, arab today oil prices lower over eurozone debt worries

 



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 lower over eurozone debt worries Arab Today, arab today oil prices lower over eurozone debt worries

 



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 EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
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 Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
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 says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

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