oil prices slide despite upbeat economic data
Last Updated : GMT 06:32:30
Arab Today, arab today
Arab Today, arab today

Oil prices slide despite upbeat economic data

Arab Today, arab today

Arab Today, arab today Oil prices slide despite upbeat economic data

Oil prices
New York - AFP

Oil prices sank Thursday, despite some encouraging economic data in the US, China and Europe, as traders kept an eye on the Ukraine crisis and Middle East tensions.
The US benchmark futures contract, West Texas Intermediate for September, slid by $1.05 to close at $102.07 a barrel on the New York Mercantile Exchange.
Brent North Sea crude for delivery in September settled at $107.07 in London trade, down 96 cents from Wednesday's closing level.
"The price action comes against a news backdrop we consider broadly supportive," said Tim Evans of Citi Futures.
New claims for US unemployment insurance benefits, a sign of the pace of layoffs, tumbled to an eight-year low last week, the Labor Department reported.
Banking giant HSBC said its preliminary purchasing managers index of manufacturing activity in China, the world's second-largest economy, rose to 52.0 in July from 50.7 in June, hitting an 18-month high. A number above 50 indicates expansion.
A survey by research firm Markit of eurozone business conditions said the PMI for the 18-nation bloc rose to 54.0 in July from 52.8 in June.
"Even the lowest weekly jobless claims number in the US since February 2006 is not enough to lift the crude complex into positive territory. After recent geopolitically sponsored support, crude is taking a breather," said Matt Smith of Schneider Electric.
Carl Larry of Oil Outlooks and Opinions called it "a nervous market, playing very carefully," with traders booking some profits.
Oil prices had risen on Wednesday after the United States reported a large decline in its crude inventories, indicating strong demand in the world's biggest consumer of crude.
"The market should continue to monitor geopolitical headlines," said Andrey Kryuchenkov, analyst at financial group VTB Capital.
"We do not expect sustained (price) gains unless reports emerge of actual supply-side disruptions. The market is comfortably supplied with seasonal demand in Europe still slackening," he added.

 

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*

oil prices slide despite upbeat economic data oil prices slide despite upbeat economic 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*

oil prices slide despite upbeat economic data oil prices slide despite upbeat economic data

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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