Arab Today, arab today us oil price sinks 67
Last Updated : GMT 03:05:24
Arab Today, arab today
Arab Today, arab today

US oil price sinks 6.7%

Arab Today, arab today

Arab Today, arab today US oil price sinks 6.7%

Oil prices plunged again
New York - AFP

Oil prices plunged again on Wednesday, losing 6.7 percent in New York in the absence of any sign of tightening of supplies and amid gloomy global economic forecasts.
The US benchmark West Texas Intermediate (WTI) for February delivery dropped $1.91 to $26.55 a barrel, the lowest level since May 2003. The contract traded as low as $26.19 a barrel during the session, the last day for the February contract.
Losses also persisted in London trade, but were not as heavy as Brent North Sea crude for March delivery tumbled to $27.88, down 88 cents from Tuesday.
The market is still in the process of finding a bottom, said analyst Oliver Sloup at iiTrader.com.
Sloup said the end of the WTI February contract could have exacerbated the losses and that could lead to a rebound with the new March contract.
"In the past when we've seen the futures contract go off the board, we've actually seen a short-term bottom in the market. So we wouldn't be surprised to see a little bounce."
"You might get some bargain buyers, but for the most part a lot of traders are just sitting on their hands waiting to see a base form."
Also influencing trade was the expectation that the US weekly crude and fuels stockpiles report could show another significant rise -- more oversupply -- when it is released on Thursday.
"That's why the market is under pressure. But if we come in with a smaller build than anticipated, that could also help support prices," Sloup said.

 

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 price sinks 67 Arab Today, arab today us oil price sinks 67

 



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 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
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 Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" 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