Related News
Oil rises as Cyprus worries ease
Source: Agencies |
March 19, 2013, Tuesday
|
Online Edition
Online Edition
THE price of oil reversed sharp early losses and finished higher yesterday as nervousness over a bailout plan in Cyprus abated.
Benchmark oil for April delivery rose 29 cents to end at US$93.74 a barrel in New York. It had dropped as low as US$91.76 earlier in the day.
Traders initially worried about possible fallout from a plan to pay for a bailout for cash-strapped Cyprus by slapping a tax on deposits in the country's banks. Some bank customers withdrew as much of their cash as they could and the fear was the panic could spread to other countries and prompt capital flight from weaker EU economies.
Stock markets in Asia and Europe fell sharply. But as US markets recovered somewhat from an early steep decline, oil started to rise.
Natural gas rose again, building on a monthlong run that has seen the price jump 23 percent. Futures gained 1 cent to finish at US$3.88 per 1,000 cubic feet.
Brent crude, used to price many kinds of oil imported by US refineries, fell 31 cents to end at US$109.51 per barrel on the ICE Futures exchange in London.
In other energy futures trading on the Nymex:
- Wholesale gasoline lost 3 cents to finish at US$3.13 a gallon.
- Heating oil fell 1 cent to end at US$2.93 a gallon.
Benchmark oil for April delivery rose 29 cents to end at US$93.74 a barrel in New York. It had dropped as low as US$91.76 earlier in the day.
Traders initially worried about possible fallout from a plan to pay for a bailout for cash-strapped Cyprus by slapping a tax on deposits in the country's banks. Some bank customers withdrew as much of their cash as they could and the fear was the panic could spread to other countries and prompt capital flight from weaker EU economies.
Stock markets in Asia and Europe fell sharply. But as US markets recovered somewhat from an early steep decline, oil started to rise.
Natural gas rose again, building on a monthlong run that has seen the price jump 23 percent. Futures gained 1 cent to finish at US$3.88 per 1,000 cubic feet.
Brent crude, used to price many kinds of oil imported by US refineries, fell 31 cents to end at US$109.51 per barrel on the ICE Futures exchange in London.
In other energy futures trading on the Nymex:
- Wholesale gasoline lost 3 cents to finish at US$3.13 a gallon.
- Heating oil fell 1 cent to end at US$2.93 a gallon.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
