Arab Today, arab today crude prices gain after daesh oil operations targeted
Last Updated : GMT 08:36:26
Arab Today, arab today
Arab Today, arab today

Crude prices gain after Daesh oil operations targeted

Arab Today, arab today

Arab Today, arab today Crude prices gain after Daesh oil operations targeted

Oil operations in retaliation
New York - AFP

Crude prices pushed higher Monday after US-led coalition jets targeted the Islamic State group s oil operations in retaliation following the deadly attacks on Paris.\r\n \r\n The gains were not whole-hearted; early weakness in the market came after Japan, a major importer, reported a second straight quarter of economic contraction.\r\n \r\n At the end of trade, US benchmark West Texas Intermediate (WTI) for delivery in December added $1.00 at $41.74 a barrel on the New York Mercantile Exchange. \r\n \r\n Brent North Sea crude for January rose nine cents to $44.56 a barrel in London deals.\r\n \r\n The gain reversed a steady decline since November 5, mostly driven by signs that major producers were not cutting back, and by mounting stockpiles especially in the United States, in part due to the very mild fall weather.\r\n \r\n Friday s devastating attacks on Paris, blamed on the Islamic State group, stirred expectations of a rise in the level of conflict in the Syria-Iraq region that some fear could disrupt oil output.\r\n \r\n "The market has been flip-flopping back and forth about the concerns over oversupply and the damage to demand," said Phil Flynn of Price Futures Group.\r\n \r\n "There have been reports that the US is now targeting ISIS (Islamic State) oil tankers, oil facilities, and that definitely is giving the market a little bit of a boost," he said.\r\n \r\n But Phillip Futures analyst Daniel Ang said: "Price increases fueled by geopolitical tensions will only be for the short term." \r\n \r\n "For the longer term, the main driver for prices will be global supply and demand, and with the glut it would be a bit more difficult for prices to move up a lot further," he told AFP.\r\n \r\n Ang said Monday s uptick was also underpinned by bargain hunting after prices dropped to two-month lows Friday. In early Monday trade, WTI sank sharply for a short period to test the $40 line, but buyers jumped in and reversed the trend.\r\n \r\n Oil prices have plunged by more than half since reaching peaks of above $100 a barrel in mid-2014 owing to the supply glut and a slowdown in the global economy, particularly major energy user China.\r\n  

NEW YORK (AFP) - Crude prices pushed higher Monday after US-led coalition jets targeted the Islamic State group s oil operations in retaliation following the deadly attacks on Paris.\r\n \r\n The gains were not whole-hearted; early weakness in the market came after Japan, a major importer, reported a second straight quarter of economic contraction.\r\n \r\n At the end of trade, US benchmark West Texas Intermediate (WTI) for delivery in December added $1.00 at $41.74 a barrel on the New York Mercantile Exchange. \r\n \r\n Brent North Sea crude for January rose nine cents to $44.56 a barrel in London deals.\r\n \r\n The gain reversed a steady decline since November 5, mostly driven by signs that major producers were not cutting back, and by mounting stockpiles especially in the United States, in part due to the very mild fall weather.\r\n \r\n Friday s devastating attacks on Paris, blamed on the Islamic State group, stirred expectations of a rise in the level of conflict in the Syria-Iraq region that some fear could disrupt oil output.\r\n \r\n "The market has been flip-flopping back and forth about the concerns over oversupply and the damage to demand," said Phil Flynn of Price Futures Group.\r\n \r\n "There have been reports that the US is now targeting ISIS (Islamic State) oil tankers, oil facilities, and that definitely is giving the market a little bit of a boost," he said.\r\n \r\n But Phillip Futures analyst Daniel Ang said: "Price increases fueled by geopolitical tensions will only be for the short term." \r\n \r\n "For the longer term, the main driver for prices will be global supply and demand, and with the glut it would be a bit more difficult for prices to move up a lot further," he told AFP.\r\n \r\n Ang said Monday s uptick was also underpinned by bargain hunting after prices dropped to two-month lows Friday. In early Monday trade, WTI sank sharply for a short period to test the $40 line, but buyers jumped in and reversed the trend.\r\n \r\n Oil prices have plunged by more than half since reaching peaks of above $100 a barrel in mid-2014 owing to the supply glut and a slowdown in the global economy, particularly major energy user China.\r\n   

 

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 crude prices gain after daesh oil operations targeted Arab Today, arab today crude prices gain after daesh oil operations targeted

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
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 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed
View News in Arabic - Business: أسواق مالية
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 Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
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 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

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 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
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