Arab Today, arab today oil prices rebound slightly on us data
Last Updated : GMT 08:26:09
Arab Today, arab today
Arab Today, arab today

Oil prices rebound slightly on US data

Arab Today, arab today

Arab Today, arab today Oil prices rebound slightly on US data

New York - AFP

Global oil prices staged a light rebound on Monday, reversing earlier losses after news of strong durable goods ordersin top crude consumer the United States, dealers said. But prices were tempered by comments from the head of the OPEC cartel saying that crude supplies are plentiful to meet demand in 2013. In New York trade the main contract, West Texas Intermediate crude for March delivery, rose by 56 cents from Friday to settle at US$96.44 a barrel. London's benchmark, Brent North Sea crude for delivery in March, added 20 cents to US$113.48 per barrel, after earlier rising to nearly a three-month peak at US$113.80. Prices were helped by data showing strength in US industry last Month. New orders for durable manufactured goods surged higher in December, led by a jump in commercial aircraft orders, government data showed. That was the seventh increase in the last eight months, following a 0.7 per cent gain in November, and well above the 1.6 per cent rise expected by analysts. "We had decent durable goods orders estimates for December, beating expectations with a 4.6 per cent month-on-month increase," said VTB Capital analyst Andrey Kryuchenkov. Kryuchenkov said though that Brent "also suffered earlier from comments by OPEC Secretary General Abdullah al-Badri on plentiful supplies in the current year." In a speech in London, Badri complained of excessive speculation in crude markets last year "despite the market being well-supplied, with OECD crude stocks above their five-year average, and with OPEC spare capacity at healthy levels. "Looking ahead to 2013, the market is expected to remain well-supplied to meet the expected demand growth," he added. On Friday, Brent oil had struck a three-month peak at US$113.84 on the back of a weaker US dollar, upbeat German data and growing optimism over the global economic outlook. Later this week, traders will switch focus to the outcome of the US Federal Reserve's two-day monetary policy meeting on Wednesday.

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 rebound slightly on us data Arab Today, arab today oil prices rebound slightly on us data

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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