Egypt to swap capital gains for stamp duty to boost stock market investment    Petroleum minister, AngloGold Ashanti discuss expanded investments in Egypt    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    IMF mission begins fifth, sixth reviews of Egypt's economic programme – PM    EGX closes in green area on 3 Dec    Egypt recovers two ancient artefacts from Belgium    Oil prices edged lower on Wednesday    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Oil extends gains, buoyed by Iran sanction worries
nada nasser Published in Amwal Al Ghad on 01 - 05 - 2018

Oil prices extended gains on Tuesday, supported by comments from Israeli Prime Minister Benjamin Netanyahu that he was sure U.S. President Donald Trump would do "the right thing" in reviewing Iran's nuclear deal with western powers.
U.S. West Texas Intermediate crude for June delivery was up 11 cents, or 0.2 percent, at $68.68 a barrel by 0114 GMT, after settling up 47 cents on Monday.
London Brent crude for new July delivery was up 11 cents at $74.80.
The June contract expired on Monday, settling up 53 cents at $75.17.
Oil prices jumped on Monday, reversing earlier losses, after Netanyahu said Israel has evidence that Iran lied about its nuclear program after signing the 2015 agreement with global powers. Iran dismissed Netanyahu's accusations, calling them "propaganda".
Trump has until May 12 to decide whether to restore sanctions on key oil-producer Iran that were lifted after the international agreement.
Oil prices rose to the highest since November, 2014 in late April, driven by concern over potential disruptions to Iranian crude flows. Analysts said the market is extremely sensitive to any developments on the nuclear deal and sanctions.
Meanwhile, U.S. crude production jumped 260,000 barrels per day (bpd) to 10.26 million bpd in February, the highest on record, the Energy Information Administration said in a monthly report on Monday.
Trade was quiet in Asia as many markets including China, India and Singapore were closed on Tuesday for public holidays.
Source: Reuters

Clic here to read the story from its source.