Arab Today, arab today oil rises above 109 as iran stays in focus
Last Updated : GMT 22:45:31
Arab Today, arab today
Arab Today, arab today

Oil rises above $109 as Iran stays in focus

Arab Today, arab today

Arab Today, arab today Oil rises above $109 as Iran stays in focus

London - Arabstoday

Oil rose above $109 (Dh400) a barrel yesterday as rising tension over major oil exporter Iran and the announcement that the US economy created more jobs countered concern about the Eurozone debt crisis. The EU and US tightened sanctions against Iran on Thursday in response to mounting concern over Tehran\'s nuclear work, increasing concern over a possible disruption to oil flows from the second-largest Opec producer. \"The Iranian situation is one of those things that could have a really bullish potential impact,\" said Tony Machacek, energy broker at Jefferies Bache in London. \"At the moment, it\'s a supportive factor and one of the issues that makes you think the market won\'t come off too far from here even if there is more economic doom and gloom all of a sudden.\" Gains Brent crude rose 78 cents to $109.77 a barrel by 1310 GMT, after settling down $1.53 at $108.99 on Thursday. US crude climbed 67 cents to $100.87. Brent is heading for a more than three per cent gain. US crude is poised for a rise of over 4.2 per cent, its first weekly gain in three. On Thursday, the Institute for Supply Management said US manufacturing activity rose to its highest in five months, following earlier data on consumer spending and private-sector job creation that were also positive. \"Data out of the US has been strong and that has helped support oil prices. The market wants to move higher, but is reluctant to, unless it sees a clear resolution to the Eurozone crisis,\" said Victor Say, analyst at Informa Global Markets in Singapore. Hurdles In Europe, whose sovereign debt problems have weighed on oil prices for months, the European Central Bank signalled it was ready to act more aggressively to fight the region\'s crisis if political leaders agree this week on tighter budget controls.

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 rises above 109 as iran stays in focus Arab Today, arab today oil rises above 109 as iran stays in focus

 



Arab Today, arab today

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 rises above 109 as iran stays in focus Arab Today, arab today oil rises above 109 as iran stays in focus

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 10:24 2017 Thursday ,22 June

Crude headed for weakest first half in two decades

GMT 04:23 2017 Tuesday ,20 June

Oil prices flat after weeks of steep declines

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel 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