Arab Today, arab today oil prices climb on tensions over ukraine
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

Oil prices climb on tensions over Ukraine

Arab Today, arab today

Arab Today, arab today Oil prices climb on tensions over Ukraine

London - AFP

  Oil rose Friday on simmering tensions in Ukraine, but gains were tempered by the stronger dollar after the Federal Reserve hinted at an interest rate rise early next year. New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, advanced 21 cents to $99.11 a barrel. Brent North Sea crude for May gained 41 cents to $106.86 per barrel, from Thursday's closing level. "The oil market is being driven higher by increased fears of a disruption in crude supplies following the expansion of US sanctions against Russia," said analysts at London-based brokerage PVM. Traders are closely monitoring events in eastern Europe after Russia absorbed the Crimean peninsula following a controversial referendum slammed as illegal by the West. US President Barack Obama announced Thursday expanded sanctions against Russian officials, and minutes later the Kremlin struck back with travel bans against US officials and lawmakers, including the leaders of both chambers of Congress. Russia provides about a quarter of Europe's natural gas supplies, with a significant portion of that flowing through pipelines that cross Ukraine. Traders fear that an escalation of the crisis would disrupt those supplies. Analysts also noted that the new US sanctions targeted Russian billionaire Gennady Timchenko, a co-founder of Gunvor, a leading independent commodity trading company involved in the oil and energy markets. "Gunvor is one of the world’s largest commodity traders," CMC Markets Singapore said in a market commentary. "Russian President Vladimir Putin is rumoured to have investments in the company and direct links to Timchenko's energy activities," it said. New York oil prices had slid below $100 a barrel on Thursday as the dollar strengthened. The dollar surged on Wednesday after Janet Yellen said a rate rise could come "around six months" after the Fed's stimulus programme ends. Economists took that to mean an increase in borrowing costs in the first half of 2015, against previous forecasts of a hike in the latter part of the year. With crude priced in dollars, a strengthening of the unit makes the commodity more expensive, dampening demand and prices.

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 climb on tensions over ukraine Arab Today, arab today oil prices climb on tensions over ukraine

 



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 oil prices climb on tensions over ukraine Arab Today, arab today oil prices climb on tensions over ukraine

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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