Arab Today, arab today global oil prices on rise after glum us jobs report
Last Updated : GMT 15:04:52
Arab Today, arab today
Arab Today, arab today

‘Tentative’ markets in Japan as yen slumps

Global oil prices on rise after glum US jobs report

Arab Today, arab today

Arab Today, arab today Global oil prices on rise after glum US jobs report

Market analysts say prices rebounded due to ‘upside momentum’
London - Arabstoday

Market analysts say prices rebounded due to ‘upside momentum’ Global oil prices rose on Monday, in line with the weaker dollar and rebounding equities, as the market recovered from the impact of last week's poor US jobs report, analysts said. Brent North Sea crude for delivery in May won 98 cents to $105.10 per barrel at about midday in London.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for May, added 71 cents to $93.41 per barrel.
Crude futures had plunged on Friday following the weaker-than-expected jobs report in top crude consumer the United States.
Brent oil had nosedived as low as $103.62 per barrel -- the lowest point since late July 2012.
"Crude oil prices rebounded on Monday and started the week on the positive side supported a weaker US dollar that spread upside momentum to the oil market," said Myrto Sokou, senior research analyst at Sucden brokers in London.
She added that in "Japan, the economic conditions remain fairly tentative with the yen hitting almost a four-year low against the US dollar this morning, continuing its sharp decline following confirmation that the Bank of Japan (BoJ) would begin buying longer-dated bonds immediately in order to beat deflation."
The weaker greenback makes dollar-priced crude cheaper for buyers using stronger currencies. That tends to stimulate demand.
Tokyo stocks soared 2.80 percent Monday as the yen plunged further following the Bank of Japan's sweeping monetary easing last week.
The BoJ on Thursday embarked on a new era of huge spending by releasing a flood of easy money, its boldest attempt to drag the Japanese economy out of decades of crushing deflation.
But a dismal US jobs report released Friday that fell far short of market expectations continued to weigh on sentiment.
The Labour Department said the United States added just 88,000 jobs in March, compared with forecasts for about 200,000. The unemployment rate dipped to 7.6 percent from 7.7 percent in February, but only because people dropped out of the workforce.
"Brent sunk to an eight month low on Friday, taking a hit from tumbling equities after a disappointing US jobs report for March," said VTB Capital analyst Andrey Kryuchenkov.
"In reality though, the US non-farm payroll report served just as another excuse to extend the ongoing correction in crude at a time when there is little fundamental support or investor interest in the market," he added.

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 global oil prices on rise after glum us jobs report Arab Today, arab today global oil prices on rise after glum us jobs report

 



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 global oil prices on rise after glum us jobs report Arab Today, arab today global oil prices on rise after glum us jobs report

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
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 Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new 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