Arab Today, arab today oil prices rise on positive us data
Last Updated : GMT 17:51:09
Arab Today, arab today
Arab Today, arab today

Oil prices rise on positive US data

Arab Today, arab today

Arab Today, arab today Oil prices rise on positive US data

New York - AFP

Oil prices rose Thursday, boosted by a larger-than-expected drop in US crude stockpiles, positive US economic data and concerns about a looming military strike against Syria. New York\'s main contract, West Texas Intermediate for delivery in October, jumped $1.14 from Wednesday to close at $108.37 a barrel. The European benchmark, Brent North Sea crude for October, climbed 35 cents to settle at $115.26 a barrel in London trade. A surprisingly strong drop in US commercial crude oil inventories renewed market hopes for improved demand in the world\'s largest energy consumer and particularly supported the WTI price gains. The Department of Energy said US crude stockpiles fell by 1.8 million barrels in the week ending August 30. Analysts on average had estimated a much smaller decline of 200,000. The drop was the fourth decline in the past five weeks, Robert Yawger of Mizuho Securities USA noted. The US benchmark WTI contract also benefited from encouraging US economic data, including signs of slow but steady improvement in the job market. \"The positive economic data this morning, which come on the heels of strong data yesterday, are consistent with the strength in the economy, which is always supportive for crude oil demand,\" said John Kilduff of Again Capital. The upbeat data has fueled speculation that the Federal Reserve could begin to taper its massive bond-buying program soon, perhaps as early as its September 17-18 monetary policy meeting. Meanwhile, the threat of a US-led military strike against Syria in retaliation for the Assad government\'s alleged chemical weapons attack continued to cast a cloud over the markets. Although Syria is not a major oil producer, investors fear that an attack could roil the oil-rich Middle East and reduce crude supplies. Phil Flynn of The PRICE Futures Group said that Brent crude remained vulnerable. \"Not only does the market worry about war, but it worries about tightness of supply,\" he said. \"High quality crude is getting harder to get and that means that Brent crude is most likely to spike. Not to mention Iraq where pipeline attacks and violence has impacted Iraq production.\"

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 on positive us data Arab Today, arab today oil prices rise on positive us data

 



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 on positive us data Arab Today, arab today oil prices rise on positive us data

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
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 Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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