Arab Today, arab today oil prices tumble on signs of libyan comeback
Last Updated : GMT 04:09:54
Arab Today, arab today
Arab Today, arab today

Oil prices tumble on signs of Libyan comeback

Arab Today, arab today

Arab Today, arab today Oil prices tumble on signs of Libyan comeback

New York - AFP

Oil prices Thursday fell sharply on news that a major Libyan field could come back on line later this week. US benchmark West Texas Intermediate for February delivery fell $2.98 to $95.44 a barrel on the New York Mercantile Exchange. In London, Brent oil for February delivery tumbled $3.02 to $107.78 a barrel in London. A spokesman for the Libyan National Oil Corporation (NOC) told AFP Thursday that the  330,000 barrel a day El Sharara field is expected to resume normal output within two or three days, once protesters who have blocked production pull out. Oil production in Libya has plunged to about 250,000 barrels a day from nearly 1.5 million in the face of demands from armed protesters for more regional autonomy and greater say over the distribution of oil revenues. "There's a sense there could be a settlement (with the protestors) and we'll be able to get that oil back on the market," said John Kilduff, founding partner at Again Capital. Key export terminals in eastern Libya remain blockaded. However, NOC announced earlier this week that two oilfields in southern Libya had resumed on Sunday. Oil prices also took a hit from a mediocre report on Chinese manufacturing. The HSBC index on Chinese manufacturing activity came in at 50.5 in December, the lowest reading in three months. Traders will get a fresh round of data on Friday, when the Department of Energy releases its weekly report on US oil inventories. A Wall Street Journal survey of analysts forecast a drop of 2.2 million barrels in what would be the fifth straight week to see a decline.

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 tumble on signs of libyan comeback Arab Today, arab today oil prices tumble on signs of libyan comeback

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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