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 European Union, 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 New York Mercantile Exchange, 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

Today's picks- 27 November 2014

Nifty, Bank Nifty, BHEL, HCL Technologies & Hindustan Unilever

Akash Prakash: Debunking two worries

Are India stocks over-owned? And are they too expensive?

Street seeks clarity on coal block auctions

Analysts believe total cost of production at Rs 1,000/tonne reasonable for power firms

Oil falls $3 to 4-yr low as OPEC leaves output unchanged

Oil prices have fallen by more than a third since June as increasing production in North America from shale oil has overwhelmed demand

India's groundnut oil output may drop by 41 per cent

Poor crop output results in oil production dip

Back to Top