Arab Today, arab today oil prices strike 4month peaks
Last Updated : GMT 22:31:18
Arab Today, arab today
Arab Today, arab today

Oil prices strike 4-month peaks

Arab Today, arab today

Arab Today, arab today Oil prices strike 4-month peaks

London - AFP

Oil prices hit four-month highs on Friday after the Federal Reserve launched a new round of economic stimulus aimed at lifting growth in the world\'s largest crude consumer. The market also won strong support from ongoing geopolitical tensions in the Middle East. In London morning deals, Brent North Sea crude for delivery in November soared to $117.95 a barrel, touching the highest level since early May. New York\'s main contract, West Texas Intermediate (WTI) or light sweet crude for October, surged to a similar peak at $100.42 a barrel. Global markets rallied after the Fed on Thursday said it would start a third programme of purchasing $40-billion per month in mortgage-backed bonds, known as quantitative easing (QE3). The Fed added that it would continue with the scheme until it saw substantial improvement in the jobs market. The US central bank also pledged to keep its benchmark interest rate at ultra-low levels until at least mid-2015. \"The Fed\'s announcement has caused crude oil prices to climb to multi-month highs,\" said Commerzbank analyst Carsten Fritsch. While the announcement had been expected, dealers cheered the fact that the central bank said it will continue with the policy until it feels the economy is strong enough. This week, crude futures have also jumped higher in the wake of violent protests touched off by a film mocking Islam that was posted on the Internet. Washington\'s ambassador to Libya was killed during a mob attack in the city of Benghazi on Tuesday. Demonstrations have spread across the oil-rich Middle East and further afield, including to Bangladesh, Iran, Iraq, Israel, the Gaza Strip, Kuwait, Sudan and Tunisia. \"Supply risks are lending psychological support\" to global oil prices, said analyst Fritsch. \"Renewed anti-American protests are expected in Arab countries today after the US ambassador was killed in Libya two days ago and the US embassy in Yemen was stormed yesterday. \"This region, which is so crucial to the supply of oil, is thus far from stable, something that is likely to give rise to a lasting risk premium,\" he added. Added to the volatile geopolitical backdrop, traders remain deeply concerned over key crude producer Iran\'s nuclear ambitions. On Thursday, the UN atomic agency\'s board approved with a crushing majority a resolution criticising Iran brought by world powers that was also aimed at dissuading Israel from military action. The resolution expresses \"serious concern that Iran continues to defy\" UN Security Council resolutions for it to suspend uranium enrichment, a process which can be used for peaceful purposes but also in a nuclear weapon. It also highlights the International Atomic Energy Agency\'s complaint that activities at the Parchin base near Tehran, where it suspects nuclear weapons research took place, would \"significantly hamper\" inspectors -- should Iran let them visit. Tehran has insisted that its expanding atomic programme is for peaceful purposes.

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 strike 4month peaks Arab Today, arab today oil prices strike 4month peaks

 



Arab Today, arab today
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 Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
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 Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

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 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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