oil prices rise as market awaits fed
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Oil prices rise as market awaits Fed

Arab Today, arab today

Arab Today, arab today Oil prices rise as market awaits Fed

London - AFP

Global oil prices rose Thursday, but held under recent peaks, as traders awaited the outcome of the Federal Reserve's latest regular meeting and eyed geopolitical tensions. Brent North Sea crude for delivery in October gained 17 cents to $116.13 a barrel in late morning deals. New York's main contract, West Texas Intermediate (WTI) or light sweet crude for October added 14 cents to $97.15 a barrel. Later on Thursday, the Federal Reserve will unveil the outcome of its latest monetary policy meeting, with speculation mounting over fresh stimulus measures or quantitative easing (QE). Analysts said the US central bank's Federal Open Market Committee (FOMC) would likely find the economic outlook too weak to continue putting off action to stimulate growth in the world's biggest oil-consuming nation. "Our guess is that the FOMC will announce some measure of monetary stimulus today, especially as the most recent US jobs report featured an increase of 96,000 in non-farm payroll employment, which fell short of market expectations," said VTB Capital economist Neil MacKinnon. Oil also won support as the euro held close to a four-month peak above $1.29. A weaker greenback makes dollar-priced oil cheaper for buyers using stronger currencies, boosting demand. Crude futures were also gaining from simmering geopolitical tensions after the killing of the US ambassador to Libya. Analysts said the death of Chris Stevens, from smoke inhalation after becoming trapped in the US consulate in Benghazi during an attack, sparked renewed concerns over geopolitical risks in the crude-producing region. Crude futures had rebounded in intra-day deals on Wednesday after Germany's top court approved the eurozone's bailout fund and fiscal pact, sending the euro racing to a four-month peak at $1.2937. Brent had surged to $116.67 -- touching the highest point since May 3 -- and WTI soared to $98.06, reaching a level last witnessed on August 23. However signs of weaker demand for energy in the United States put a cap on gains, analysts said. The US government's Energy Information Administration said on Wednesday that the country's crude oil stockpiles rose by two million barrels in the week ending September 7, confounding expectations for a sharp decline.

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 prices rise as market awaits fed oil prices rise as market awaits fed

 



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 prices rise as market awaits fed oil prices rise as market awaits fed

 



GMT 00:08 2017 Sunday ,30 April

Veteran actor Vinod Khanna dies

GMT 13:09 2016 Tuesday ,04 October

Libya government forces: 80 militants killed in Sirte

GMT 01:14 2017 Friday ,20 October

US citizen detained in Yemeni capital

GMT 11:42 2017 Monday ,17 April

Qatar Stock Index Drops 20.13 Points

GMT 10:50 2017 Saturday ,29 April

Dubai welcomes over 1.6m Saudi travelers in 2016

GMT 11:48 2017 Wednesday ,11 January

Study crashes main Moon-formation theory

GMT 20:05 2017 Monday ,17 July

370 Egyptians return from Libya within 24 hours

GMT 21:54 2017 Thursday ,07 September

FIFA orders SAfrica to replay Senegal WC qualifier

GMT 23:26 2017 Friday ,24 March

Why people still live, and die, on garbage dumps

GMT 06:06 2017 Sunday ,19 March

Petro Rabigh, KAEC inaugurate Saudi

GMT 18:45 2017 Sunday ,16 July

Bahrain discuss cooperation with Italy

GMT 09:08 2017 Monday ,24 April

Parliament efforts to cancel salaries’ cuts

GMT 10:58 2017 Wednesday ,26 April

Tunisian President Meets Hungarian Foreign Minister

GMT 19:52 2017 Tuesday ,11 April

Freida Pinto on why she loves being single
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday