Arab Today, arab today oil prices mixed after european data
Last Updated : GMT 18:13:02
Arab Today, arab today
Arab Today, arab today

Oil prices mixed after European data

Arab Today, arab today

Arab Today, arab today Oil prices mixed after European data

New York - AFP

US oil prices eked out a gain Tuesday despite weak European economic indicators and concerns that a pipeline spill in Arkansas could cause excess US oil supplies to mount. US benchmark West Texas Intermediate for May delivery settled in New York at $97.19 a barrel, up 12 cents. But the European oil benchmark, Brent crude for May, settled at $110.69 a barrel, down 39 cents. The latest batch of weak European economic data weighed on markets, analysts said. Eurozone unemployment ran at a record 12 percent in February, official data showed Tuesday, with more than 19 million people out of work. Eurozone manufacturing activity continued to contract. The Markit Eurozone Manufacturing Purchasing Managers Index fell to 46.8 points in March, well short of the already weak 47.9 posted in February. US economic data the last day or so have been mixed. The ISM manufacturing index released Monday fell to 51.3 in March from 54.2 in February, showing slower growth in the sector. On the positive side, the Department of Commerce Tuesday reported that new orders for manufactured goods rose in February by 3.0 percent. \"There\'s a little bit of negativity. Not a lot, but a little bit,\" said Dominick Chirichella, oil analyst at the Energy Institute. Markets are also eying news about the Pegasus pipeline, a 95,000 barrel-a-day line that has been down since an oil spill last Friday. The outage is expected to lead to increasing oil inventories at US oil hubs, such as Cushing, Oklahoma. Pegasus \"is probably going to stay down for more than a couple of days,\" Chirichella predicted. Andy Lebow, senior vice president of energy futures at Jefferies Bache, said the recent leveling off of oil prices was not surprising given the rally of recent weeks. \"Crude inventories are high. But in the big picture, the market is range-bound and not really going anywhere,\" Lebow said.

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 mixed after european data Arab Today, arab today oil prices mixed after european data

 



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 mixed after european data Arab Today, arab today oil prices mixed after european data

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
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 Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 04:23 2017 Tuesday ,20 June

Oil prices flat after weeks of steep declines

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel 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