Arab Today, arab today oil prices slip before payrolls figures
Last Updated : GMT 12:45:25
Arab Today, arab today
Arab Today, arab today

Oil prices slip before payrolls figures

Arab Today, arab today

Arab Today, arab today Oil prices slip before payrolls figures

London - AFP

Global oil prices fell further on Friday as traders awaited key data amid ongoing worries about the US economy and a supply glut in the world's top crude consuming nation. Brent North Sea crude for delivery in May dropped 37 cents to $105.97 per barrel shortly after midday in London. New York's main contract, West Texas Intermediate (WTI) light sweet crude for May, gave back 36 cents to $92.90 a barrel. Crude futures had slumped on Thursday following an unexpected jump in US unemployment claims, and after aggressive stimulus measures from the Bank of Japan. Brent sank to a five-month low at $105.29, while New York crude touched a two-week trough at $92.15. Later on Friday, all eyes will be on the non-farm payrolls (NFP) report which is scheduled for release at 1330 (1230 GMT). "Because many market players attribute this week's slide in the price of crude oil to the weaker US data of late, considerable attention is likely to be paid to today's labour market figures," said Commerzbank analyst Carsten Fritsch. "Expectations have already been noticeably scaled down ahead of their publication, so any positive surprise would lend support to the oil prices." The NFP data is crucial for international financial markets because it provides vital clues on the health of the world's biggest economy. The US Labor Department will release its jobs and unemployment report later Friday. Most analysts have pencilled in growth of 192,000 in March, down from a February spike of 236,000. The unemployment rate was expected to stay at 7.7 percent for a second straight month. On Thursday, official data showed new claims for unemployment benefits totalled 385,000 in the week ending March 30, up 28,000 from the prior week. Analysts had expected claims to fall. Crude oil prices were also under pressure this week on the back of stubborn concerns over plentiful US supplies. Prices had dived by about $3 a barrel on Wednesday after the US government's Energy Information Administration revealed that US crude reserves rose 2.7 million barrels to 388.6 million barrels. That was almost double market expectations for an increase of 1.5 million barrels. The news also sent total stocks to the highest level since July 1990. Surging US inventories signal weaker demand and tends to put downward pressure on prices. A pipeline closure ExxonMobil's Pegasus pipeline in Arkansas, a 95,000 barrel-a-day line, has also sparked fears of a build-up of stockpiles at the Cushing, Oklahoma, which is a key delivery point.

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 slip before payrolls figures Arab Today, arab today oil prices slip before payrolls figures

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

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

GMT 05:23 2017 Tuesday ,21 February

Oil rises, but growing US output threatens rally

GMT 00:24 2017 Tuesday ,21 February

OPEC daily basket price announced for Thursday

GMT 16:12 2017 Sunday ,19 February

Oil prices still under pressure from North America
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
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 Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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 Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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