Arab Today, arab today oil prices rise higher after egypt violence
Last Updated : GMT 14:26:25
Arab Today, arab today
Arab Today, arab today

Concerns that Middle East supplies may be disrupted

Oil prices rise higher after Egypt violence

Arab Today, arab today

Arab Today, arab today Oil prices rise higher after Egypt violence

A tanker is seen stuck in the Suez canal on March 28, 2010 near Ismailia city, 120 kms north east of Cairo
London – Arab Today

A tanker is seen stuck in the Suez canal on March 28, 2010 near Ismailia city, 120 kms north east of Cairo London – Arab Today Oil prices rose on Thursday, with Brent striking a four-month high point on concerns that escalating violence in Egypt will disrupt supplies from the Middle East, analysts said. Brent North Sea crude for delivery in September gained 76 cents to $110.96 a barrel in London midday deals after reaching $111.53 -- the highest point since the start of April.
New York\'s main contract, West Texas Intermediate for September, climbed 66 cents at $107.51 a barrel.
\"Developments in Egypt are on centre stage again and will continue to apply upward pressure on oil prices,\" said Sanjeev Gupta at EY consultants.
Egypt\'s military rulers faced international condemnation over the bloody crackdown on Muslim Brotherhood protesters, with France warning of the threat of \"civil war\" and Turkey demanding UN action.
At least 525 people were killed in Wednesday\'s assaults on two Cairo protest camps of supporters of ousted Islamist president Mohamed Morsi in the worst violence the country has seen in decades.
Traders are worried that the unrest could hit crude shipments through the Suez Canal and Sumed Pipeline, which provide a link between Europe and Asia and allows ships safer and faster travel between the regions without having to sail around Africa.
Although Egypt is not a major oil producer, the Suez canal carries about 2.5 million barrels daily, roughly equal to eight percent of the output of OPEC.
\"Although oil transport through the Suez Canal and the neighbouring Sumed pipeline is not expected to be hampered, given that these are under military protection, the risk premium is nonetheless likely to rise following the latest events,\" Commerzbank analysts said in a note to clients.
Supplies in the region were being hit already by workers\' strikes in crude producer Libya, traders said.
Oil prices gained support also from a decline in US crude stockpiles, indicating firmer demand in the world\'s largest economy.
On Wednesday, the US government said that American crude stockpiles declined 2.8 million barrels last week, more than the drop of 1.5 million barrels expected by Dow Jones Newswires.

Source: AFP

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 oil prices rise higher after egypt violence Arab Today, arab today oil prices rise higher after egypt violence

 



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 oil prices rise higher after egypt violence Arab Today, arab today oil prices rise higher after egypt violence

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
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 Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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