Arab Today, arab today us oil rises as spread with euro benchmark
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

US oil rises as spread with Euro benchmark

Arab Today, arab today

Arab Today, arab today US oil rises as spread with Euro benchmark

New York - AFP

US oil prices jumped Monday as the spread between US and European oil contracts receded from a recent peak. West Texas Intermediate settled on the New York Mercantile Exchange at $97.03 a barrel, up $1.31 compared with the Friday level. In London, Brent North Sea crude for delivery in March closed at $118.13 a barrel, down 77 cents from Friday. Bart Melek, an analyst at TD Securities, said traders concluded that last week\'s surge in Brent was more extreme than warranted. Investors have been closely eying the spread between the US and European oil contracts. \"A lot of it has to do with the fact that Brent likely had outstripped the WTI and WTI is looking at it and trying to catch up a little bit,\" said Melek. \"The differential got too wide and got ahead of itself.\" Traders have become \"concerned that the Brent-WTI spread may have reached an unsustainable level after posting the highest settlement since November 28 on Friday,\" said analyst Tim Evans of Citi Futures. The Brent contract on Friday reached a nine-month peak at $119.17 a barrel on healthy economic data and geopolitical concerns after crude producer Iran rejected a US offer on nuclear talks, traders said. WTI for its part has also suffered as US stocks have risen almost 12 million barrels the last three weeks. The buildup has come amid operational problems at the much-watched Seaway pipeline, which delivers oil from the trading hub of Cushing, Oklahoma to terminals on the Gulf of Mexico coast in Texas.

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 rises as spread with euro benchmark Arab Today, arab today us oil rises as spread with euro benchmark

 



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 rises as spread with euro benchmark Arab Today, arab today us oil rises as spread with euro benchmark

 



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

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
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