Arab Today, arab today world oil prices tumble sharply
Last Updated : GMT 19:23:16
Arab Today, arab today
Arab Today, arab today

World oil prices tumble sharply

Arab Today, arab today

Arab Today, arab today World oil prices tumble sharply

London - Arabstoday

World oil prices slumped dram-atically yesterday as a stronger dollar and growing gloom over the global economic outlook caused sizeable profit-taking, traders said. New York\'s main contract, West Texas Intermediate (WTI) for delivery in August, tumbled as low as $92.67 (Dh340.4) a barrel. It later stood at $93.09, down a hefty $2.32 from Wednesday\'s closing level. Brent North Sea crude for August meanwhile dived $3.09 to $111.12 a barrel in midday deals. Prices had rallied sharply on Wednesday, as news of tumbling US crude and gasoline reserves sparked hopes of resurgent demand in the United States, which is the world\'s biggest oil consuming nation. Article continues below However, the market hit reverse gear yesterday as the Federal Reserve downgraded its US economic growth forecast, while downbeat Chinese manufacturing data sparked concern about demand from the Asian powerhouse economy. Headwinds Fed chairman Ben Bernanke also warned of stubborn economic headwinds that could persist for longer than expected. The dollar won support after the Fed confirmed that its second round of bond-buying will end later this month — signalling that there would be no further stimulus measures. The euro also remains dogged by worries the Greek-Eurozone debt crisis could spread. \"Following Bernanke\'s comments, a weaker outlook for the US economy and a stronger US dollar, crude oil prices are under pressure, on a downside momentum,\" said analyst Myrto Sokou at the Sucden Financial Research brokerage. \"The market sentiment has been hurt as the US dollar rallied with Brent retreating more than three per cent and WTI crude more than two per cent lower, amid (the) weaker US oil demand outlook.\" A stronger greenback makes dollar-prices commodities more expensive for buyers using weaker currencies. This tends to dent demand and weigh on prices.

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 world oil prices tumble sharply Arab Today, arab today world oil prices tumble sharply

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 04:54 2017 Saturday ,18 February

Oil prices slip as high stocks overshadow OPEC cuts

GMT 21:38 2017 Thursday ,16 February

Kuwait Oil Price Down 25 cents to $52.30 pb

GMT 14:40 2017 Thursday ,16 February

OPEC daily basket price announced for Wednesday

GMT 19:14 2017 Wednesday ,15 February

Gasoline, diesel prices increase 100 L.L.

GMT 04:39 2017 Wednesday ,15 February

Oman Crude Oil Financial contract closes at US$55.45
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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