World oil prices remain under pressure
World oil prices remained under pressure on Thursday following an unexpectedly big rise in US stockpiles in the last week and rumours of a resumption of oil deliveries from Alaska.
By Agencies |
LONDON: World oil prices remained under pressure on Thursday following an unexpectedly big rise in US stockpiles in the last week and rumours of a resumption of oil deliveries from Alaska.
By 2255 IST on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in January was showing a fall of 14 cents to $59.10, following a drop of 93 cents on Wednesday.
Trade was limited as the market did not open today and will remain closed tomorrow because of the Thanksgiving holiday in the United States.
In London, by 2230 IST, Brent North Sea crude contracts for January delivery lost 16 cents to $59.33, following a fall of 90 cents Wednesday.
The market reacted Thursday to rumours that tankers have resumed loading oil at the key Valdez export terminal in Alaska, as weather improved.
The terminal had been closed since Monday because of the inclement weather, which cut supplies by up to 35 per cent through the Trans Alaska Pipeline, which has a capacity of 800,000 barrels per day.
By 2255 IST on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in January was showing a fall of 14 cents to $59.10, following a drop of 93 cents on Wednesday.
Trade was limited as the market did not open today and will remain closed tomorrow because of the Thanksgiving holiday in the United States.
In London, by 2230 IST, Brent North Sea crude contracts for January delivery lost 16 cents to $59.33, following a fall of 90 cents Wednesday.
The market reacted Thursday to rumours that tankers have resumed loading oil at the key Valdez export terminal in Alaska, as weather improved.
The terminal had been closed since Monday because of the inclement weather, which cut supplies by up to 35 per cent through the Trans Alaska Pipeline, which has a capacity of 800,000 barrels per day.
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