oil at 18month low on china date us stocks
Last Updated : GMT 12:31:48
Arab Today, arab today
Arab Today, arab today

Oil at 18-month low on China date, US stocks

Arab Today, arab today

Arab Today, arab today Oil at 18-month low on China date, US stocks

London - Arabstoday

Brent crude oil hit an 18-month low of $91 per barrel on Thursday as the outlook for economic growth darkened, pointing to lower-than-expected energy consumption worldwide. China’s factory sector shrank for an eighth straight month in June as export order sentiment hit its weakest since early 2009, according to a survey indicating the country’s economic trough may extend well into the third quarter. The US Federal Reserve on Wednesday signalled a weaker outlook and disappointed some investors who had hoped for aggressive steps to boost the world’s top economy. Demand also looks shaky in the euro zone where borrowing costs have risen and the health of the banks has worsened. Brent crude oil futures for August fell $1.69 to a low of $91.00 per barrel, its weakest since December 2010, before recovering slightly to trade around $91.70 by 1040 GMT. Front-month US crude was down $0.80 at $80.65 per barrel, after earlier hitting an eight-month low of $79.92.  “All very bearish” On top of the negative macro-economic news, oil was also hit by news on Wednesday of an unexpected rise in US crude inventories, which increased 2.86 million barrels, defying forecasts for a 1.1 million barrel decline, according to data from the US Energy Information Administration. Brent has so far fallen 10 percent this month and is now down almost 15 percent in 2012, despite a strong rally through the first two months of the year. It has slipped almost 30 percent from this year’s peak above $128 in March. Nearby Brent prices have fallen below forward futures for the first time in almost a year, pushing the front of the price curve into contango, a structure that is commonly associated with a weak and over-supplied market. Three years ago the Brent contango widened to the point where oil companies and trading houses could make money by buying crude oil, storing it at sea and then selling later. The US Federal Reserve did little to bolster financial markets on Wednesday. While Chairman Ben Bernanke said it was ready to do more to help recovery, many investors hoping for a third round of quantitative easing which would have boosted investment flows into assets like oil were disappointed. China’s export orders were at the weakest since early 2009, according to the HSBC Flash Purchasing Managers Index, the earliest monthly indicator of China’s industrial activity.

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*

oil at 18month low on china date us stocks oil at 18month low on china date us stocks

 



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*

oil at 18month low on china date us stocks oil at 18month low on china date us stocks

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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