Crude oil is moving in a limited range on Monday amid speculation that the Fed would maintain economic stimulus for longer after a steep drop in U.S. new home sales on Friday.
Upside pressures on oil prices continue due to geopolitical risks in the Middle East. A suspected chemical attack in Syria added to worries over a possible spread of the unrest in the region and thus disrupting oil sales
Crude is trading around $106.80 a barrel after rising $0.38
Brent is trading around $111.15 a barrel after rising $0.11
Oil exports resumed from Brega, one of Libya’s four ports affected by the protests that shut the facilities since the end of July. This may add about 90,000 barrels a day to current shipments.
The U.S. National Hurricane Center said on Sunday that tropical storm Fernand strengthened over the western Bay of Campeche. Atlantic storms are followed closely because they can disrupt natural gas and oil production in the Gulf of Mexico.
Natural gas is trading at $3.526 per cubic feet after rising 1.18%
Gasoline is trading at $3.005 per cubic feet after falling 0.07%
Heating oil (diesel) is trading at $3.1013 a gallon after rising 0.20%
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Oil Flat Around $106.80 As World Watches Syria
Published 08/26/2013, 05:36 AM
Updated 07/09/2023, 06:31 AM
Oil Flat Around $106.80 As World Watches Syria
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