Arab Today, arab today us oil posts 4th straight decline
Last Updated : GMT 12:15:14
Arab Today, arab today
Arab Today, arab today

US oil posts 4th straight decline

Arab Today, arab today

Arab Today, arab today US oil posts 4th straight decline

New York - XINHUA

U.S. crude prices Friday pared earlier gains that were boosted by the positive job data and posted a fourth straight decline at the close. Oil got lifted in the earlier trading after the Labor Department\'s better-than-expected monthly non-farm payrolls report. The report showed U.S. added 146,000 non-farm jobs in November and the unemployment rate fell to 7.7 percent, the lowest level since December 2008, noting the Hurricane Sandy\'s negative effect on job markets was limited. But rise of oil prices stalled after the Thomson Reuters/ University of Michigan\'s reading for U.S. consumer confidence in December tumbled to the lowest level since August. The reading fell steeply to 74.5 from 82.7 one month earlier on concerns about the approach of fiscal cliff. House Speaker John Boehner said Friday that stalemate persisted in the fiscal negotiation with U.S. President Barack Obama, and he demanded President Obama provide a new offer to avoid the so- called\"fiscal cliff.\" Economists kept warning, saying once the automatic spending cuts and tax increases by the new year were triggered, the world\'s largest economy could be dragged into recession. Moreover, more bearish forecasts about the euro zone\'s economy added further pressure to oil markets. A day after the European Central Bank cut its own forecasts for the euro zone economic growth, the central banks of Germany and Austria on Friday foresaw barely any economic growth in 2013 and the German Bundesbank even noted the risks of a recession. Also, investors began turning their attention to the meeting of the Organization of the Petroleum Exporting Countries due on Dec. 12 and were anticipating the U.S. Federal Reserve\'s last policy meeting for this year, which will be held from Dec. 11-12. Light, sweet crude for January delivery lost 33 cents, or 0.38 percent, to settle at 85.93 dollars a barrel on the New York Mercantile Exchange. For this week, it dropped sharply by 2.98 dollars, or 3.35 percent. Brent crude for January delivery, which has been falling for the whole week, posted a loss of 1 cent to close at 107.02 dollars a barrel. It slipped 4.21 dollars, or 3.78 percent for the week.

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 us oil posts 4th straight decline Arab Today, arab today us oil posts 4th straight decline

 



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 us oil posts 4th straight decline Arab Today, arab today us oil posts 4th straight decline

 



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
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
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