us oil price gains but london lower
Last Updated : GMT 18:08:33
Arab Today, arab today
Arab Today, arab today

US oil price gains but London lower

Arab Today, arab today

Arab Today, arab today US oil price gains but London lower

New York - AFP

Oil prices gained in New York on Tuesday but fell in London after OPEC kept its global demand estimate steady but increased its estimate of the supplies added to the market from non-cartel producers. New York's main contract, West Texas Intermediate (WTI) crude for delivery in April, added 48 cents on Monday's price to end at US$92.54 a barrel. But in London, Brent North Sea crude for April lost 57 cents to US$109.65 a barrel. An uncertain picture on global demand growth continued to overhang the market, analysts said, especially for major energy consumers China and the United States. OPEC's monthly market report held its 2013 global crude demand forecast unchanged at 89.7 million barrels per day, up 0.8 million from 2012. US demand was expected to be flat after two years of decline and Japanese consumption roughly at the same level as well. But the cartel, which accounts for around 35 per cent of world supply, raised its expectation of production growth by non-OPEC suppliers in 2013 by 11 per cent to 1.0 million barrels a day, with the growth mainly coming from North America. "As in the previous year, US oil supply in 2013 is expected to achieve the highest growth among all non-OPEC countries," the report said. That suggested more downward pressure on all prices as exporters fight for market share. The report put OPEC production at 30.3 million barrels a day in February. In addition, risks remain to demand, including eurozone instability, the impact of a large budget cut in the United States and any "sudden" decision by the Japanese government to reopen nuclear plants that were shut down after the Fukushima disaster two years ago, the cartel said. Meanwhile the US Energy Information Agency, in its short-term energy outlook report Tuesday, lowered its forecast for the average WTI price this year slightly to US$91.92 a barrel while sticking to its forecast that the price gap between WTI and Brent would narrow to US$9 a barrel by 2014. It projected the Brent price would fall from an average of US$112 last year to US$108 in 2013 and US$101 in 2014, while "reflecting the increasing supply of liquid fuels from non-OPEC countries." Meanwhile WTI will stick around US$92 a barrel through 2014, it said.

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*

us oil price gains but london lower us oil price gains but london lower

 



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*

us oil price gains but london lower us oil price gains but london lower

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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