New Document top_band
 
Business Standard

Brent crude above $113 on Iran supply threat

Related News

firmed on Monday, trading above $113 a barrel, lifted by Iran’s threat to shut a key oil-shipping route although worries over the economic health of the kept gains in check.

Iranian officials have in recent weeks threatened to block the if new sanctions imposed by the United States and planned by the , with the aim of discouraging Iran’s nuclear programme, harm Tehran’s oil exports.

“Overall, the geopolitical premium is supporting amid tensions with Iran, but on the other hand, the price of crude in euros remains high and will hurt demand in Europe,” said Olivier Jakob from Zug-based consultancy Petromatrix.

February Brent crude futures were 34 cents higher at $113.40 a barrel by 0945 GMT, after gaining more than five per cent last week. On the , February US light crude futures were up 10 cents at $101.66 a barrel.

Read more on:   
|
|
|
|

Read More

Oil higher in Asia on positive Japanese data

Oil rose in Asia today as traders reacted to better than expected economic data from Japan, analysts said.

Quick Links

 

Market News

Sugar down 0.3% on profit-bookings

Commodity for delivery in August shed 0.20%

Cardamom up 0.2% as demand picks up

Spice for delivery in September edged up by 0.17%

Lead up 0.5% on spot demand

Metal for delivery in July contract edged up by 0.38%

Mentha oil up 0.2% on spot demand

Oil for delivery in July contract edged up by 0.10%

Tata Metaliks zooms 90%; Tata Sponge over 50% in 9-days

Tata Sponge Iron surged 11% to Rs 935, also its record high, while Tata Metaliks rallied 10% to Rs 132 on BSE today.

Back to Top