us oil ends higher after falling below 80
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US oil ends higher after falling below $80

Arab Today, arab today

Arab Today, arab today US oil ends higher after falling below $80

Oil prices in New York
New York - AFP

 Oil prices in New York rebounded Thursday after briefly slipping below $80 a barrel, as a mixed US crude inventory report spurred a rally.
US benchmark West Texas Intermediate (WTI) oil for November delivery advanced 92 cents to $82.70 a barrel on the New York Mercantile Exchange.
WTI had slipped to $79.78 a barrel during the session, in the first drop below $80 since June 2012.
European benchmark Brent oil for November delivery gained 69 cents to $84.47, bouncing back from $82.60 earlier in the session, the lowest level since November 2010.
Thursday's gains snapped a three-day slide for the US contract that had been driven by swelling oil production, worries over weak demand and signals from Saudi Arabia and other OPEC members that they do not plan to cut output in response to lower oil prices.
Some traders bought crude after concluding the market was "oversold," said Bob Yawger, director of the futures division at Mizuho Securities.
Yawger said the catalyst was a US Department of Energy inventory report that showed a 4.0 million barrel drop in gasoline inventories, much more than the 1.4 million barrel decline projected by analysts, according to a Dow Jones Newswires survey.
The report also showed a build of 8.9 million barrels in crude stocks, more than the 2.2 million projected.
"Gasoline demand was up too, and that means… that people are confident enough in the economy," Yawger said.
The price of WTI rose as high as $84.83 before retreating. The overall price swing throughout the day was more than $5 -- a much bigger range than normal and a reflection of greater market volatility.

 

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*

us oil ends higher after falling below 80 us oil ends higher after falling below 80

 



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*

us oil ends higher after falling below 80 us oil ends higher after falling below 80

 



GMT 13:29 2017 Wednesday ,18 October

Beards inspire new show by art duo Gilbert & George

GMT 13:56 2011 Wednesday ,28 September

The wise leadership dispatch cables of condolences

GMT 11:11 2017 Thursday ,26 January

Aoun meets Mogherini

GMT 16:21 2017 Wednesday ,26 April

Riyadh donates additional $150m to help Yemenis

GMT 12:29 2018 Tuesday ,11 September

US new provocations to undermine Russia’s in Syria

GMT 03:27 2015 Monday ,17 August

Missing link found between brain, immune system

GMT 11:36 2017 Wednesday ,13 December

New York Philharmonic quickly raises needed cash

GMT 10:17 2016 Monday ,10 October

Kosovo 'boils' over drawing border

GMT 16:48 2017 Saturday ,09 December

Al Zaydi underlines Huthi role in prices
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