Arab Today, arab today us oil prices rise
Last Updated : GMT 14:25:39
Arab Today, arab today
Arab Today, arab today

US Oil prices rise

Arab Today, arab today

Arab Today, arab today US Oil prices rise

London - AFP

Oil prices rose on Friday as a weaker US currency made the dollar-priced commodity cheaper, spurring demand, analysts said. Upbeat employment data in the United States also buoyed sentiment and fuelled hopes that demand will improve in the world\'s biggest oil consuming nation. Brent North Sea crude for delivery in May climbed 67 cents to $109.63 in London midday deals. New York\'s main contract, light sweet crude for April was up 28 cents to $93.31 a barrel. A weaker dollar \"helped to support crude oil prices\", said Ker Chung Yang, senior investment analyst at brokers Phillip Futures. As oil is traded in dollars, the commodity becomes cheaper when the US currency weakens, prompting investors to buy, and resulting in higher prices. Oil prices were also supported by data on Thursday from the Department of Labor which showed that new US claims for unemployment benefits came in at 332,000 in the week ending March 9, a drop of 10,000 compared with the prior week. Despite improving sentiment surrounding the world\'s biggest economy, energy demand remains downbeat in the United States, where on Wednesday the Department of Energy said that crude stockpiles rose 2.6 million barrels in the week ended March 8. Also this week, the International Energy Agency, which advises a number of countries on energy policy, slashed its global forecast for growth in world oil demand for the second straight month, citing uncertainty from the US budget talks, sluggish Chinese business activity and unemployment in Europe. The Organization of Petroleum Exporting Countries (OPEC) on Tuesday stood pat on its 2013 crude demand forecast, but raised its outlook for production growth by non-OPEC suppliers by 11 percent to 1.0 million barrels a day. It expects the growth by non-OPEC suppliers to come mainly from North America. The cartel, which accounts for around 35 percent of global supply, expects global demand of 89.7 million barrels per day in 2013, up 0.8 million from 2012.

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 prices rise Arab Today, arab today us oil prices rise

 



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 Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
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 Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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