Arab Today, arab today oil prices rise higher after egypt violence
Last Updated : GMT 05:52:34
Arab Today, arab today
Arab Today, arab today

Oil prices rise higher after Egypt violence

Arab Today, arab today

Arab Today, arab today Oil prices rise higher after Egypt violence

London - AFP

Oil prices rose on Thursday, with Brent striking a four-month high point on concerns that escalating violence in Egypt will disrupt supplies from the Middle East, analysts said. Brent North Sea crude for delivery in September gained 76 cents to $110.96 a barrel in London midday deals after reaching $111.53 -- the highest point since the start of April. New York\'s main contract, West Texas Intermediate for September, climbed 66 cents at $107.51 a barrel. \"Developments in Egypt are on centre stage again and will continue to apply upward pressure on oil prices,\" said Sanjeev Gupta at EY consultants. Egypt\'s military rulers faced international condemnation over the bloody crackdown on Muslim Brotherhood protesters, with France warning of the threat of \"civil war\" and Turkey demanding UN action. At least 525 people were killed in Wednesday\'s assaults on two Cairo protest camps of supporters of ousted Islamist president Mohamed Morsi in the worst violence the country has seen in decades. Traders are worried that the unrest could hit crude shipments through the Suez Canal and Sumed Pipeline, which provide a link between Europe and Asia and allows ships safer and faster travel between the regions without having to sail around Africa. Although Egypt is not a major oil producer, the Suez canal carries about 2.5 million barrels daily, roughly equal to eight percent of the output of OPEC. \"Although oil transport through the Suez Canal and the neighbouring Sumed pipeline is not expected to be hampered, given that these are under military protection, the risk premium is nonetheless likely to rise following the latest events,\" Commerzbank analysts said in a note to clients. Supplies in the region were being hit already by workers\' strikes in crude producer Libya, traders said. Oil prices gained support also from a decline in US crude stockpiles, indicating firmer demand in the world\'s largest economy. On Wednesday, the US government said that American crude stockpiles declined 2.8 million barrels last week, more than the drop of 1.5 million barrels expected by Dow Jones Newswires.  

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 rise higher after egypt violence Arab Today, arab today oil prices rise higher after egypt violence

 



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 rise higher after egypt violence Arab Today, arab today oil prices rise higher after egypt violence

 



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 Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
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 Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
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 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
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 Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

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