Arab Today, arab today oil slips despite upbeat data
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Oil slips despite upbeat data

Arab Today, arab today

Arab Today, arab today Oil slips despite upbeat data

New York - XINHUA

Crude prices fell on Tuesday despite upbeat U.S. retails data, as concerns about oil demand and U.S. debt ceiling talks weighed on the market. Concerns about U.S. debt ceiling returned to markets and weighed heavily after Federal Reserve Chairman Ben Bernanke urged U.S. lawmakers late Monday to raise the country\'s debt ceiling to avoid a potentially disastrous debt default, warning that the economy was still at risk from political gridlock over the debt issue. Ratings agency Fitch also warned on Tuesday that failure to raise the debt ceiling in time will prompt a review of the U.S. sovereign rating and the current negative outlook of AAA rating might be downgraded. Crude prices got further pressure from Germany\'s economic contraction. According to data released on Tuesday, the largest economy of the euro zone shrank by 0.5 percent in the fourth quarter of 2012, adding clouds to oil demand. But Germany\'s full- year GDP growth came in at 0.7 percent. Meanwhile, the dollar rose on Tuesday against major currencies, posing more pressure to the dollar-denominated crude oil. The U.S. economic data, however, came in positive, offering support to oil prices. The Commerce Department said U.S. retail sales rose 0.5 percent in December, beating analysts\' expectation. The Empire Manufacturing Survey for January posted a reading of minus 7.8, although still indicating contraction, it is better than the reading of minus 8.1 the month before. Light, sweet crude for February delivery lost 86 cents, or 0. 91 percent to settle at 93.28 dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery slipped 1.58 dollars, or 1. 41 percent to finish at 110.30 dollars a barrel.

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 slips despite upbeat data Arab Today, arab today oil slips despite upbeat data

 



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 slips despite upbeat data Arab Today, arab today oil slips despite upbeat data

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
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 Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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