Arab Today, arab today oil prices steady after weak us data
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

Oil prices steady after weak US data

Arab Today, arab today

Arab Today, arab today Oil prices steady after weak US data

Oil prices
London - AFP

Global oil prices steadied Friday after lacklustre US economic data that has fuelled bearish sentiment about demand in the world's top crude consumers, analysts said.
In late morning London deals, Brent crude for delivery in August rose 13 cents to trade at $113.34 a barrel compared with Thursday's close.
US benchmark West Texas Intermediate for August dipped a cent to $105.38 a barrel.
The US Commerce Department said Thursday that consumer spending rose a mere 0.2 percent in May after flattening in April, raising questions about recovery in the world's biggest economy.
"This has cast doubt on the growth outlook for the second quarter of this year, particularly after a wider-than-expected contraction in the first quarter," Desmond Chua, market analyst at CMC Markets in Singapore, said, referring to weak GDP figures released Wednesday.
The report comes after the Energy Information Administration on Wednesday reported an unexpected build-up in US crude inventories last week.
A rise in US stockpiles is typically indicative of weakening demand in the energy-guzzling nation, which would in turn put pressure on prices.
Markets remained focused on the 1.7 million barrel surge in the week ending June 20 "in the absence of new drivers in the market", Singapore's United Overseas Bank said.
Traders are continuing to keep a close watch on crude producer Iraq, where sectarian violence has continued unabated for nearly three weeks.
Jihadist insurgents have captured swathes of Iraqi territory in a lightning offensive that began on June 9, but they have yet to directly threaten the key oil-producing region in the south.
Oil prices have held under last week's nine-month peaks as the violence has failed to dent Iraqi crude output.
Last week, Brent oil had soared to $115.71 a barrel, while WTI crude hit $107.73 on fears over Iraqi supplies. Both were levels last seen in September 2013.
Brent prices have shed "around $2.50 from the nine-month high of $115.71 that was reached on June 19, as output from Iraq remains unaffected by ongoing violence", added Inenco analyst Nadina Ball.
"It is believed that, if the fighting between Sunni militants and Iraq government forces is restricted to the north of Baghdad, supply disruption fears would ease."

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 steady after weak us data Arab Today, arab today oil prices steady after weak 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 steady after weak us data Arab Today, arab today oil prices steady after weak us data

 



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 Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
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 Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
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 All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
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 Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

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