Arab Today, arab today oil prices rally from sharp losses
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Oil prices rally from sharp losses

Arab Today, arab today

Arab Today, arab today Oil prices rally from sharp losses

US benchmark West Texas Intermediate
London - AFP

World oil prices rebounded Thursday after tumbling the previous day on concerns about surging stockpiles in the United States, the world's top consumer, analysts said.
US benchmark West Texas Intermediate (WTI) for March delivery jumped $1.45 to $50.29 a barrel compared with Wednesday's close.
Brent North Sea crude for March leapt $1.38 to $56.04 a barrel in London afternoon trade.
"There is some optimism in the market at the moment, but the fundamentals have not changed," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.
"The increased US stockpiles adds to the worry about ample global supply, which is the main cause for the current bearish market," he added.
The US Department of Energy reported on Wednesday that commercial crude reserves rose 4.9 million barrels in the week ending February 6.
Stockpiles were "at the highest level for this time of year in at least the last 80 years", the agency added.
Oil prices have been under pressure for months, plunging about 60 percent to just over $40 a barrel between June and the end of January.
However, they have recovered slightly in recent weeks as the number of drilling rigs has fallen and oil companies have trimmed some investment.
Investors are also monitoring talks on Greece's demands to renegotiate its international bailout as the risk of a debt default looms.
A meeting between Finance Minister Yaris Varoufakis and his counterparts from the eurozone late Wednesday broke up without agreement, with deliberations now set to go down to the wire next week.
"We expect price action to remain choppy as markets await for direction," said Singapore's United Overseas Bank.

 

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 rally from sharp losses Arab Today, arab today oil prices rally from sharp losses

 



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 rally from sharp losses Arab Today, arab today oil prices rally from sharp losses

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
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