Arab Today, arab today brent slips below us123 on iran talks
Last Updated : GMT 11:11:47
Arab Today, arab today
Arab Today, arab today

Brent slips below US$123 on Iran talks

Arab Today, arab today

Arab Today, arab today Brent slips below US$123 on Iran talks

Washington - Arabstoday

Brent crude slipped US$1 on Monday as Iran agreed to resume talks that had collapsed more than a year ago on the country\'s nuclear programme with the US and its allies, raising hopes of a peaceful resolution to the standoff. Prices were also under pressure on demand growth concerns after data showed U.S. employers hired far fewer workers in March than in previous months. Job growth in the world\'s biggest oil consumer slowed to 120,000, the Labor Department said on Friday, the smallest increase since October. Front-month Brent crude fell 94 cents a barrel to US$122.49 by 0251 GMT, after slipping to as low as US$122.17. US oil traded US$1.17 a barrel lower at US$102.14, after sliding to as low as US$101.87. Oil futures markets were closed on Friday. \"The talks are good news. They are going to ease some stress from the oil market, but not enough to bring oil below its current trading range,\" said Ken Hasegawa, a commodity derivatives manager at Newedge Brokerage in Tokyo. \"Oil is falling because the jobs data came out worser than expected.\" Brent may trade between US$120 and US$125 and US oil in a US$100-US$105 range this week, Hasegawa said. Oil may slip below the range only if investor worries about a supply disruption from Middle East is significantly reduced, he said. Iranian media and Western officials said talks over Tehran\'s nuclear programme would begin on Saturday in Istanbul. A return to the table had been in doubt after Iran and the other negotiators - the United States, Britain, France, Russia, China and Germany - released conflicting statements about the venue. Getting Iran to suspend high-level uranium enrichment and close a nuclear facility built deep under a mountain near the holy city of Qom are \"near-term priorities\" for the United States and its allies, a senior U.S. official said. Worries that the standoff between Tehran and the West would escalate and disrupt oil exports from the Middle East have boosted Brent prices nearly US$20 so far this year to a high of US$128.40 touched last month. The European benchmark\'s wave pattern indicates it is biased to drop below a neutral range of US$121.80-US$123.54, while a fall below US$101.37 will confirm a bearish target of US$99.37 for US oil, according to Reuters technical analyst Wang Tao. Concerns about demand growth from the US and Europe as investors worry about the health of these economies are also keeping a lid on oil prices. Last Friday\'s US employment numbers were the latest to make markets nervous. Job growth was less than half the average monthly increase in the prior three months and way below the lowest estimate in a Reuters survey. Economists had expected an increase of 203,000 and the jobless rate to hold at 8.3 percent. Asian shares fell and the dollar extended losses against the yen on Monday as investors turned cautious ahead of more US data and earnings due this week. In Europe, the International Monetary Fund said Portugal\'s main risk is that the recession turns out deeper than projected, partly due to a mild recession in the euro zone. Investors are worried that Portugal will have to follow Greece in seeking a further bailout. The IMF has already said it will release €5.17bn (US$6.8bn) to the crisis-stricken country. \"Oil markets would need to monitor even more carefully what is happening in Europe,\" Hasegawa said. \"If the economic condition worsens there is scope for prices to go down further.

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 brent slips below us123 on iran talks Arab Today, arab today brent slips below us123 on iran talks

 



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 Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
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 Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
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 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

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 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

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