ΕιδήσειςΕυρωπαϊκές Ειδήσεις Oil Futures Fall as Libya Resumes Exports From Brega Terminal dj Τετ, 28 Αυγούστου 2013 - 17:26
Oil futures fell Monday as Libya resumed crude exports from a previously closed terminal, though traders continued to monitor the conflict in Syria for word of a potential military response by the U.S. and other Western nations. Light, sweet crude for October delivery settled down 50 cents, or 0.5%, at $105.92 a barrel on the New York Mercantile Exchange. The decline was the first in three trading sessions for Nymex crude. Violence in the Middle East has helped support oil prices in recent days, sparking concerns about whether such tensions could lead to supply disruptions. Brent crude on the ICE futures exchange declined 31 cents, or 0.3%, to $110.73 a barrel, though volume was light due to a U.K. bank holiday. Futures traded lower early Monday after Libyan deputy oil minister Omar Shakmak told Dow Jones Newswires that exports from the port of Marsa al Brega would resume. Protests had caused the terminal and others to be closed since the end of July. Brega, which has capacity around 90,000 barrels a day, was one of four ports that were affected by the export shutdown. "The ability to export again out of Libya has been bearish [for the oil market]," said Andy Lebow, senior vice president of energy futures at Jefferies Bache LLC in New York . Market participants were also focused on the increasing tension in Syria amid speculation that U.S. is weighing a potential military strike against the regime of President Bashar al-Assad. The Syrian government reportedly used chemical weapons against civilians last week, killing more than 1,000 people. In an address earlier Monday, U.S. Secretary of State John Kerry said President Barack Obama thinks there must be accountability for the chemical weapons use. Syria 's proximity to other large Middle Eastern oil producers has raised worries about the crude supply and, in turn, boosted prices. In a note to clients, Barclays analyst Helima Croft said that "no supplies are at immediate risk," but added that the bigger risk for the oil market is the "potential for the Syrian conflict to spread to neighboring countries and imperil regional output." The situation, combined with a recent increase in unplanned oil refinery outages and a possible uptick in demand, could "support even higher price levels," in the future, she said. Meanwhile, in economic data pressuring oil futures Monday, the U.S. Commerce Department said orders for long-lasting manufactured goods dropped more than expected. Total orders for durable goods, big-ticket items built to last three years or more, fell 7.3% in July from the prior month, compared with forecasts for a 4% drop. Mr. Lebow said the oil market "did not like the durable goods number," noting that traders now believe it's just a matter of time until the Federal Reserve will begin to unwind its $85 billion-a-month bond buying program. Front-month September reformulated gasoline blendstock, or RBOB, settled down 5.55 cents, or 1.9%, at $2.9517 a gallon. September heating oil settled down 1.6 cents, or 0.5%, at $3.0790 a gallon. Διαβάστε ακόμα Βουλγαρία: Το Εργοστάσιο που Μετατρέπει τα Αστικά Λύματα σε Ενέργεια Τετ, 28 Αυγούστου 2024 - 17:40 Nexans: Τελεσίγραφο στον ΑΔΜΗΕ για τον Great Sea Interconnector Τετ, 28 Αυγούστου 2024 - 16:00 Βρετανία: Εταίρος και Όχι Μέλος της ΕΕ - Ο Στάρμερ Βάζει Τέλος στα Σενάρια Επιστροφής Τετ, 28 Αυγούστου 2024 - 15:40 Οι Ευρωπαίοι Στρέφονται στα Μεταχειρισμένα Ηλεκτρικά Οχήματα Τετ, 28 Αυγούστου 2024 - 15:20 Lightsource BP: Ολοκλήρωσε και Πούλησε Ηλιακό Έργο στο Ηνωμένο Βασίλειο Τετ, 28 Αυγούστου 2024 - 13:00
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